Argentina's economy contracted again in the second quarter while unemployment rose, as the country was slammed by galloping inflation, government austerity and high interest rates. Argentina's gross domestic product shrank a seasonally adjusted 0.3% from the first quarter, the fourth contraction in five quarters, statistics agency Indec said Thursday, though it expanded 0.6% from a year earlier. Indec revised the first quarter figure to unchanged from the fourth quarter...
Argentina's hard-hit economy edged out of recession in the second quarter of the year, expanding by a slight 0.6% on the back of a strong showing in the farming sector even as the South American nation braces for a weakening economic outlook ahead.
August was the strongest month for sales of U.S. homes in nearly a year and a half, sparking fresh hope that a protracted slump in the housing market may finally be starting to reverse. Sales of previously owned U.S. homes rose 1.3% in August from July to a seasonally adjusted annual rate of 5.49 million, the National Association of Realtors said Thursday. Economists surveyed by The Wall Street Journal expected sales to fall 1.1% last month.
WASHINGTON-- The House passed a short-term spending bill Thursday, taking the first step toward avoiding a government shutdown at the end of the month. The stopgap funding, called a continuing resolution, will keep the government open until Nov. 21, several weeks beyond the end of the federal fiscal year on Sept. 30. The legislation also extends several health-care programs and other expiring measures, including the National Flood Insurance Program and the U.S.
The U.S. House of Representatives approved a stopgap funding measure on Thursday that would avoid a government shutdown by maintaining current spending levels through Nov. 21. The action sends the measure to the U.S. Senate for consideration.
Argentine gross domestic product grew 0.6% in the second quarter of the year, the country's statistics agency said on Thursday, its first rise since the start of 2018, as Latin America's No. 3 economy battles to reignite growth.
The amount of U.S. commercial paper outstanding posted the biggest weekly decline since May in a sign of how turbulence in the repurchase agreement market this week spilled over to other areas of the money market, Federal Reserve data released on Thursday showed.
The number of Americans filing applications for unemployment benefits increased less than expected last week, pointing to strong labor market conditions that should continue to support an economy growing at a moderate pace. The steady economic growth pace was also underscored by other data on Thursday showing home resales rising in August to a 17-month high.
The Federal Reserve cut interest rates Wednesday, yet rates in the mortgage market still rose. Mortgage rates rose on a weekly basis for the second week in a row, potentially threatening to put a damper on home sales just as the real-estate market's outlook was brightening. The 30- year fixed-rate mortgage averaged 3.73% during the week ending Sept. 19, rising 13 basis points from the previous week, Freddie Mac (FMCC) reported Thursday.
An economic index that measures U.S. business trends remained unchanged from July to August, following a slight increase in July and no change in June. The Conference Board Leading Economic Index stayed at 112.1 in August. Economists polled by The Wall Street Journal expected the index reading to be slightly up at 112.2.
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