The number of Americans who applied for unemployment benefits last week rocketed to a record 3.28 million as large parts of the U.S. economy shut down and companies laid off scores of workers to cope with the coronavirus pandemic. The seasonally adjusted increase in initial jobless claims from March 15 to March 21 was the largest ever, easily crushing the previous record of 695,000 in 1982. Just a few weeks ago, new claims hovered in the low 200,000s and stood near a 50-year low The sudden and almost unfathomable surge in claims is likely just the beginning. Waves of fresh layoffs are...

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The flash reading of the eurozone manufacturing purchasing managers index rose to a 3-month high of 46.6 in November, up from 45.9 in October. The PMI was slightly above the FactSet-compiled economist consensus for a 46.4 consensus, but below the 50 level, indicating purchasing managers were reporting contractionary conditions. The flash services PMI meanwhile fell to a 10-month low of 51.5 in...

Sales at gas stations, car dealers and internet stores such as Amazon rose in October, but most other retailers posted weak results just before the start of the critical holiday shopping season. Retail sales increased 0.3% last month, the government said Friday, matching the forecast of economists polled by MarketWatch. The increase in sales was concentrated in just a few segments, however. If...

The wholesale cost of U.S. goods and services posted the sharpest increase in October in six months, but aside from higher gas prices, there was little inflation to be found. The producer price index rose 0.4% last month, a notch higher than the estimate of economists polled by MarketWatch. Producer prices more broadly continued to recede, however. The 12-month rate of wholesale inflation...

The headline UK retail sales came in to show an unexpected fall of 0.1% in October as compared to 0.2% growth expected and a flat reading recorded in the previous month. Meanwhile, the core retail sales, stripping the auto motor fuel sales, also fell by 0.3% MoM as against consensus estimates pointing to a 0.2% growth and previous. On an annualized basis, the UK retail sales rose 3.1% in...

The German economy escaped a recession in the third quarter as strong consumer spending helped output grow 0.1% quarter-on-quarter, defying expectations of a contraction, preliminary data showed on Thursday. On the year, gross domestic product in Europes largest economy expanded by 0.5% from July through September after a 0.3% expansion from April through June, seasonally adjusted figures...

Australian employment unexpectedly declined in October, rekindling the prospect for additional interest-rate reductions and sending the local currency lower. Jobs fell 19,000 from September, compared with economistsforecast of a 15,000 gain; the unemployment rate increased to 5.3% versus an estimated 5.2%. Full-time positions declined by 10,300; part-time roles fell 8,700....

Americans paid higher prices for gasoline, medical treatment and recreation in October, but inflation more broadly remained low and fairly stable. The consumer price index jumped 0.4% in October, with energy accounting for more than half the increase, the government said Wednesday. Economists polled by MarketWatch had forecast a 0.3% advance. The increase in the cost of living over the past...

Cheaper gas and electricity pushed U.K. inflation to its lowest rate in almost three years last month, bringing respite for Boris Johnson after two days of disappointing data.  Consumer prices rose 1.5% from a year earlier, the least since November 2016, after a new energy price cap came into force, the Office for National Statistics said Wednesday. Core inflation stayed at 1.7%. The...

ASIA
China's Factory Outlook Improves More than Expected in September
Monday, 30 September 2019 09:02 WIB A report on the health of China™s manufacturing sector improved in September, although it was still below the line indicating contraction. The...
UNITED STATES
U.S. Trade Deficit Narrows as Exports, Imports Both Plummet
Thursday, 6 June 2019 19:54 WIB The U.S. trade deficit narrowed in April as both exports and imports tumbled, highlighting the impact of President Donald Trump™s tariffs...
EUROPE
German Services Hold Up Output as Manufacturers Struggle
Friday, 21 June 2019 14:53 WIB Output from Germany's private sector remained unchanged in June, as a decline in manufacturing was offset by continued growth in services. A flash...
GLOBAL ECONOMY
First Phase of US-China Trade Deal Announced
Monday, 16 December 2019 09:09 WIB A trade deal between the United States and China, separately announced Friday by both countries, will be such a boon for American farmers they will...

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