Economics News Results

  • CBO Sees Double-Digit Jobless Rate Through 2020, GDP to Shrink 5.9% -- Update

    WASHINGTON-- Unemployment is likely to remain in double digits through year's end, and the economic downturn will be more severe than previously forecast, according to projections released Thursday by the Congressional Budget Office. The CBO estimates the jobless rate will end the year at 10.5%, lower than its earlier forecast of 11.5%. Nevertheless, it is likely to remain above the pre-coronavirus pandemic level of about 3.5% through the end of the decade.

  • *U.S. Unemployment Rate Fell in June -- 4th Update -2-

    (END) Dow Jones Newswires 07-02-20 1610 ET Copyright (c) 2020 Dow Jones& Company, Inc..

  • Brazil's economy has started 'V-shaped' recovery - central bank chief

    Brazil's economy has begun a 'V-shaped' recovery from the worst of the COVID-19 crisis, central bank president Roberto Campos Neto said on Thursday, citing rebounds in energy, traffic and tax collection data as well as double-digit credit growth.

  • CBO Sees Double-Digit Jobless Rate Through 2020, GDP to Shrink 5.9%

    WASHINGTON-- The jobless rate is expected to remain in double-digits through the end of the year, and the economy will shrink an estimated 5.9%, according to projections released by the Congressional Budget Office Thursday. The CBO on Thursday estimated the unemployment rate will fall to 10.5% by December, down from an earlier forecast of 11.5%. Gross domestic product, a broad measure of economic output, is expected to climb 12.4% in the second half of the year, but not enough to...

  • ISM Non-Manufacturing PMI Seen Rising to 50.1 -- 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 Services PMI Jun N/A 46.7* 1000 ISM Non-Mfg PMI Jun 50.1 45.4 Tuesday 1000 Job Openings May N/A 5.0 M& Labor Turnover Wednesday 1500 Consumer Credit May N/A- $68.7 B Thursday 0830 Jobless Claims Jul 4 1375 K 1427 K 1000 Wholesale Inventories May -1.2% +0.3% Friday 0830 Producer Price Index Jun +0.3% +0.4%-- ex food&...

  • Mortgage Rates Hit a Record Low -- Again

    Mortgage rates fell to their lowest recorded level Thursday, weighed down by fears that the U.S. economy's recovery will be held back by new coronavirus outbreaks. The average rate on a 30- year fixed-rate mortgage fell to 3.07% from 3.13% last week, mortgage-finance giant Freddie Mac said. It is the fifth time this year rates on America's most popular home loan have hit a new low.

  • Brazil revises 2020 fiscal outlook, sees 'lost decade' for national debt

    Brazil's government on Thursday revised its 2020 fiscal outlook, forecasting significantly higher debt and wider deficits due to the COVID-19 crisis, and said it will be over a decade before public debt falls back to last year's level.

  • Brazil emergency payments to low-paid workers estimated at 254 bln reais - official

    Brazil's emergency payments to low-paid, informal workers hit hard by the COVID-19 crisis stands at around 254 billion reais, more than double all 2020 discretionary spending, a senior Economy Ministry official said on Thursday.

  • Brazil needs primary surplus 1.73% of GDP in 2021-2029 to get debt back to 2019 levels - Treasury

    Brazil's Treasury said on Thursday that the public sector will have to generate an average annual primary surplus of 1.76% of gross domestic product in the 2021-29 years if gross debt at the end of that period is to get back to where it was last year.

  • U.S. Unemployment Rate Fell in June -- 2nd Update

    The jobless rate fell to 11.1% in June as the U.S. regained 4.8 million jobs, continuing a labor market rebound from the economic shock caused by the coronavirus pandemic. Job growth in June followed May's payroll gain of 2.7 million and showed people are getting back to work faster than anticipated. Still, the U.S. labor market is operating with about 15 million fewer jobs than in February, the month before the pandemic struck the U.S. economy, and a recent coronavirus rise could...

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