Economics News Results

  • U.S. New Home Sales Increased in January

    Purchases of new single-family houses in the U.S. rose in January for the second consecutive month supported by strong demand. Here are the main takeaways from the Commerce Department's report released Wednesday:. --New home sales increased 4.3% in January compared with December to a seasonally adjusted annual rate of 923,000..

  • Personal Income Seen Up 9.5% in January -- Data Week Ahead

    The following are forecasts for this week's remaining U.S. data from a survey compiled by The Wall Street Journal. Forecasts were last updated Monday afternoon. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS Thursday 0830 Jobless Claims Feb 20 845 K 861 K 0830 Real GDP 4 Q +4.2% +4.0%* 0830 GDP Prices 4 Q +2.0% +2.0%* 0830 Durable Goods Orders Jan +1.0% +0.5%** 1000 Pending Home Sales Jan -0.5% -0.3% 1100 Kansas City Fed Mfg Svy Feb 15 17 Composite Index Friday 0830 Personal Income Jan...

  • South Africa Finance Minister Presents More Optimistic 2021/22 Spending Plan

    JOHANNESBURG--South Africa's finance minister presented a more optimistic spending plan for the 2021/ 22 fiscal year on Wednesday, saying the coronavirus pandemic's impact on growth wasn't as bad and government debt won't grow as quickly as he expected in October. Africa's most developed economy is estimated to have shrunk by 7.2% last year, compared with the 7.8% contraction forecast in the medium-term budget proposed in October. This year, gross domestic product is...

  • Brazil Current-Account Deficit Widens in January to $7.3 Billion

    SAO PAULO--Brazil recorded a current-account deficit of $7.3 billion in January, after a deficit of $5.4 billion in December, the country's central bank said Wednesday. The 12- month current-account deficit reached $9.4 billion in January, compared with a deficit of $12.5 billion the month before, the bank said. The 12- month current-account deficit was equal to 0.65% of gross domestic product, versus 0.87% of GDP reported for the previous month.

  • Mexican Inflation Picks Up in Early February on Energy Costs

    MEXICO CITY--Mexican consumer prices rose moderately in the first half of February with increases in energy costs partially offset by lower fresh food prices. The consumer price index rose 0.23% in the two-week period, enough to push the 12- month inflation rate up to 3.84% from 3.54% at the end of January, according to official data. Core CPI, which excludes energy and agricultural products, rose 0.22% in the first half of February, and was also up 3.84% from a year earlier.

  • French Manufacturing Sector Sentiment Rises in February

    Sentiment in the French manufacturing sector rose in February for the third consecutive month, despite coronavirus- related restrictions. Figures from the French national statistics agency's monthly survey on Wednesday showed manufacturing sentiment rose to 97 in February compared with a revised level of 96 in January. The reading for February was below economists' consensus forecast of 99 in a survey conducted by The Wall Street Journal.

  • German 4Q GDP Growth Revised Up in Second Estimate

    Germany's economy grew in the fourth quarter by more than reported in the first release, the German statistics office Destatis said Wednesday. Gross domestic product for the fourth quarter increased by an adjusted 0.3% from the previous quarter, according to Destatis. This is above the preliminary estimate of 0.1% growth and beat economists' expectations of a 0.1% expansion in The Wall Street Journal's survey.

  • Malaysia's CPI Falls Again in January, But at Slower Pace

    KUALA LUMPUR--Malaysia's consumer price index declined at a slower pace in January as higher food prices cushioned the fall in fuel and utilities prices amid renewed measures to curb a resurgence of Covid-19 infections. The latest CPI reading marked the 11th consecutive month the Southeast Asian country has registered deflation. January CPI contracted 0.2% compared with the same period a year earlier, versus a 1.4% decline in December, the Department of Statistics said...

  • Prolonged Stimulus Needed to Meet Inflation, Employment Goals, RBNZ Says

    WELLINGTON, New Zealand--New Zealand's central bank said prolonged monetary stimulus would be necessary to meet its inflation and employment goals during economic recovery from the Covid-19 pandemic. The Reserve Bank of New Zealand, as expected, left its Official Cash Rate unchanged at 0.25% on Wednesday and maintained a 100 billion New Zealand dollars target for its market purchases of New Zealand government bonds. Despite the pandemic's severity lessening and...

  • New York Tax Commissioner Rejects Proposal For Stock-Transfer Levy

    ALBANY, N.Y.-- New York's tax commissioner warned legislators during a Tuesday budget hearing that reinstating the state's stock-transfer tax could prompt migration of trading activity to other areas. Michael Schmidt, who was appointed by Gov. Andrew Cuomo in 2019, said the coronavirus pandemic and federal limits on the deductibility of state and local taxes enacted in 2017 raised the risk that high-income taxpayers could leave New York with additional levies.

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