Economics News Results

  • China's Caixin Manufacturing PMI Rises to 4-Month High in May

    BEIJING--A private gauge of China's manufacturing activity rose to a four-month high in May, boosted by increased production as more factories reopened for work. The Caixin China manufacturing purchasing managers index, which is tilted toward small, private manufacturers, climbed to 50.7 in May from 49.4 in April, Caixin Media Co. and research firm Markit said Monday. May's reading indicated an expansion in activity as it came in above the 50 mark, which separates contraction...

  • South Korea Exports Continued Sharp Fall in May

    South Korean exports continued to fall significantly in May due to weak demand caused by the coronavirus pandemic. Outbound shipments shrank 23.7% from a year earlier to $34.86 billion following the prior month's revised 25.1% contraction, data released by the trade ministry Monday showed. The latest reading compared with the median forecast for a 20.7% drop by seven economists polled by The Wall Street Journal.

  • Economy Week Ahead: Manufacturing and Unemployment Data

    Friday's U.S. jobs report anchors another week of data that will reflect fallout from efforts to contain the new coronavirus. The Caixin China manufacturing index is expected to show modest month-on-month expansion in May following a contraction in April, underscoring a bumpy recovery path ahead for China's small and private companies. Other surveys of purchasing managers at manufacturers in Asia, Europe and the U.S. are expected to record another month of declining...

  • U.S. Businesses Brace for Damage as Tensions Over Hong Kong Grow

    HONG KONG-- Rising tensions between the U.S. and China over Hong Kong have American businesses caught in the crosshairs. Companies in the global financial and trading hub, already battered by a year of violent protests and the coronavirus pandemic, face a long period of further uncertainty amid a fight that they fear could disrupt their operations and that casts doubt over their long-term future here. After China last week approved a plan to impose new national-security laws on...

  • Slow Economic Recovery Could Squeeze Smaller Lenders

    A slow economic recovery could test the strength of nonbank lenders, forcing many to raise capital if the businesses that have borrowed from them struggle to recover or shut down after the lockdown enforced during the coronavirus pandemic. Business development companies that lend to small- and medium-size companies expanded rapidly over the past decade, with publicly traded BDCs increasing total assets by nearly fourfold to $83.6 billion as of the first quarter of 2020,...

  • Democrats Stick With Tax-Rise Policies as They Make Plans for 2021 Majority

    The coronavirus pandemic shook the U.S. economy. It hasn't shaken Democrats' fervor for trillions of dollars in tax increases, and significant income redistribution is still likely as soon as 2021 if Joe Biden wins the White House and Democrats control Congress. Democratic lawmakers and policy aides worry little that planned tax increases on corporations and high-income households would hinder the economic recovery.

  • Construction Drives China's Nonmanufacturing PMI to Four-Month High

    BEIJING-- An official gauge of business activity outside Chinese factory floors climbed to a four-month high in May, boosted by a strong recovery in the country's construction activity. China's official nonmanufacturing purchasing managers index rose to 53.6 in May from 53.2 in April, the National Bureau of Statistics said Sunday. May's reading shows a month-on-month expansion, coming in above the 50 level.

  • China's Factory Activity Gauge Slid in May, Indicating Slower Growth

    BEIJING-- An official gauge of China's factory activity dropped in May for a second straight month as the coronavirus pandemic curbed demand. The official manufacturing purchasing managers index edged down to 50.6 in May from 50.8 in April, the National Bureau of Statistics said Sunday. Still, the index remained above the 50 mark that separates month-on-month expansion of activity from contraction.

  • Consumer Spending Fell a Record 13.6% in April -- 4th Update

    Consumers spent significantly less and saved more as they weathered the coronavirus pandemic and related lockdowns in April, with recent signs suggesting damage from the crisis is starting to ease. U.S. consumer spending, the U.S. economy's main engine, fell by a record 13.6% in April, the steepest decline for records tracing back to 1959.. Personal income, which includes wages, interest and dividends, increased 10.5% in April, the Commerce Department reported Friday.

  • May Unemployment Rate Seen at 19.8% -- 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 Mfg PMI May N/A 39.8* 1000 ISM Mfg PMI May 44.0 41.5 1000 Construction Spending Apr -5.8% +0.9% Wednesday 0815 ADP Jobs May -9000 K -20236 K 0945 Markit Services PMI May N/A 36.9* 1000 ISM Non-Mfg Svy May 44.5 41.8 1000 Factory Orders Apr -12.5% -10.3% Thursday 0830 Jobless Claims May 30 1775 K 2123 K 0830 U.S.

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