Economics News Results

  • Singapore's Consumer Prices Fell Unexpectedly in October

    SINGAPORE--Singapore's consumer prices unexpectedly fell in October, mostly due to a sharp drop in the cost of private transport while accommodation inflation eased. The consumer-price index fell 0.2% in October from a year earlier, compared with 0.0% in September, the Department of Statistics said Monday. The median estimate in a Wall Street Journal survey of seven economists was for a flat reading.

  • Singapore's Economy Contracted at Slower Pace in Third Quarter

    SINGAPORE--Singapore's economy contracted at a slower pace in the third quarter after pandemic restrictions were eased and growth improved in some major export markets. The Southeast Asian city-state's gross domestic product shrank 5.8% in the third quarter from a year earlier, according to revised Ministry of Trade and Industry data on Monday. The advance estimate of third-quarter GDP had shown a 7.0% contraction.

  • New Zealand Retail Sales Recover From Lockdown Slump

    WELLINGTON, New Zealand--New Zealand retail sales soared in the third quarter following a pandemic induced slump in April and May. The value of retail sales rose a record 28.2% in the July-September quarter from the previous quarter when adjusted for seasonal factors, Statistics New Zealand said Monday. Retail sales volumes rose 28%.

  • Biden Team Faults Mnuchin for Letting Fed Aid Programs Lapse -- Update

    WASHINGTON-- President-elect Joe Biden's transition team sharply criticized Treasury Secretary Steven Mnuchin's decision to allow funding for several emergency Federal Reserve lending programs to expire, escalating a political fight. "The Treasury Department's attempt to prematurely end support that could be used for small businesses across the country when they are facing the prospect of new shutdowns is deeply irresponsible," said Kate Bedingfield, a Biden...

  • Mnuchin, McConnell Discuss 'Targeted' Aid Bill -- 2nd Update

    WASHINGTON-- Treasury Secretary Steven Mnuchin on Friday defended his decision not to extend funding for several Federal Reserve lending facilities, calling on Congress to reappropriate the nearly $500 billion to help small businesses and unemployed workers. The Treasury Department's announcement Thursday that it would allow the funding to expire after Dec. 31 prompted a rare statement of objection from the Fed, which wants to maintain the lending programs as a backstop in...

  • GDP Seen Steady, New Home Sales Expected to Rise -- Data Week Ahead

    The following are forecasts for next week's U.S. data from a survey compiled by The Wall Street Journal. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS Monday 0945 Markit Flash Mfg PMI Nov 53.0 53.4* 0945 Markit Flash Services PMI Nov 55.0 56.9* Tuesday 0900 S&P/Case-Shiller 20- City Sep N/A +5.2% HPI Y/Y 1000 Consumer Confidence Nov 98.3 100.9 1000 Richmond Fed Mfg Svy Nov N/A 29 Wednesday 0830 Jobless Claims Nov 21 N/A 742 K 0830 Durable Goods Orders Oct +0.5% +1.9% 0830 Real GDP 3 Q...

  • Mnuchin Plans to Discuss 'Targeted' Aid Bill Friday With McConnell, Meadows, McCarthy -- Update

    WASHINGTON-- Treasury Secretary Steven Mnuchin on Friday defended his decision not to extend funding for several Federal Reserve lending facilities, calling on Congress to reappropriate the nearly $500 billion to help small businesses and unemployed workers. The Treasury Department's announcement Thursday that it would allow the funding to expire after Dec. 31 prompted a rare statement of objection from the Fed, which wants to maintain the lending programs as a backstop in...

  • Job Market Growth Slows Across U.S. as Covid-19 Cases Surge -- Update

    The labor market is flashing signs of slowdown in states where coronavirus cases are surging-- and in places where they are not. The growth in the number of daily job postings in Midwestern states, where the virus is raging, is slowing sharply compared with October, according to data from the job site ZipRecruiter. But other states with among the lowest virus infection rates in the nation, including California, New York and North Carolina, are also seeing a slowdown.

  • Belgium Consumer Confidence Picks Up in November

    Belgium consumer confidence improved in November, despite tighter coronavirus restrictions, the National Bank of Belgium said Friday. The consumer-confidence index rose to minus 15 in November from minus 17 in October, the central bank said. "The recent measures tightening up the lockdown, which came into force on Nov. 2, initially had a dampening effect on the morale of households, before gradually subsiding over the survey period," it said.

  • UK Retail Sales Increase in October Despite Spike in Covid-19 Infections

    Retail sales in the U.K. rose in October for the sixth consecutive month despite a surge in coronavirus cases across the country, data from the Office for National Statistics showed Friday. Sales volumes increased 1.2% in October compared with the previous month, taking the overall level of sales 6.7% above February's pre-pandemic levels. The reading beats expectations from economists polled by The Wall Street Journal, who were expecting sales to decline by 0.4%.

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