The U.S. economy shed 701,000 jobs in the month to mid-March, the government said in a monthly labor market report that largely predates any impact from the Covid-19 pandemic on the U.S. economy. The figures, normally the most eagerly-awaited data of the month in global financial markets, have already been rendered largely meaningless by the unprecedented spike in jobless claims over the subsequent two weeks. Nearly 10 million Americans “ 6% of a total workforce of 164 million - have filed for unemployment benefit since the Bureau of Labor Statistics™ cut-off date of March 12. Analysts...

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The COVID-19 and emergency response form the Reserve Bank of Australia has stripped away the importance, or rather, the sense of urgency surrounding this data, but for what it is worth at this stag in the game,here is the outcome of February's report where a key focus has been on the Unemployment Rate. Australia Jobs data : Australia Feb Employment +26.7k s/adj (Reuters poll:...

U.S. retail sales fell in February, indicating the main driver of the U.S. economy, consumer spending, had begun to slow even before coronavirus containment measures began rippling through the economy. The value of overall sales decreased 0.5% from the prior month after a 0.6% gain in January, Commerce Department figures showed Tuesday. The median estimate in a Bloomberg survey called for a...

The German ZEW headline numbers for March showed that the Economic Sentiment Index came in at -49.5 versus -26.4 expectations and 8.7 last. While the sub-index Current Conditions figure arrived at -43.1 in March versus -30.0 expected and -15.7 booked previously. Meanwhile, the Eurozone ZEW economic sentiment for March stood at -49.5 vs. 35.4 expected and 10.4 last. Meanwhile, the Eurozone ZEW...

China suffered an even deeper slump than analysts feared at the start of the year as the coronavirus shuttered factories, shops and restaurants across the nation, underscoring the economic fallout now facing the global economy as the virus spreads around the world. Industrial output plunged 13.5% in January and February from a year earlier, versus a median estimate for a 3%...

The US Core Consumer Price Index has risen by 2.4% in February, above 2.3% that was on the cards. On a monthly basis, underlying prices rose by 0.2% as expected. Headline inflation rose by 0.1% monthly and 2.3% yearly, both exceeding estimates. The Federal Reserve targets price stability and an increase in inflation is, in theory, a reason to raise interest rates. However, investors are focused...

U.S. employment surged last month with the biggest gain since May 2018, indicating the labor market was on especially solid footing before the spread of the coronavirus intensified. Payrolls rose 273,000 after the prior month was revised up to also reflect a 273,000 gain, according to Labor Department data Friday that beat all forecasts in Bloombergs survey calling for...

Australia's consumption, as represented by Retail Sales, unexpectedly dropped in the month of January, the Australian Bureau of Statistics (ABS) reported on Friday. The retail sales arrived at -0.3% month-on-month (MoM), compared to the forecast of 0.0% and down from previous month's reading of -0.5%. The trend estimate rose 0.1% in January 2020. This follows a rise of 0.1% in December 2019,...

U.S. services sector activity accelerated to a one-year high in February, suggesting  underlying strength in the economy despite the coronavirus outbreak, which has triggered financial market fears of a recession and led to an emergency interest rate cut from the Federal Reserve. The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing activity index increased to a...

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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