Economics News Results

  • U.S. Economy Ramps Up on Spending Surge, Hiring Gains -- Update

    The U.S. economic recovery is accelerating as stimulus money, Covid-19 vaccinations and business re-openings spur a spring surge in consumer spending, a sharp pullback in layoffs and a bounceback in factory output. Retail sales-- a measure of purchases at stores, at restaurants and online-- jumped 9.8% in March, the Commerce Department reported Thursday. The gain in consumer spending-- the biggest driver of economic activity-- came as the government began distributing hundreds of...

  • Canada Housing Sales Set Fresh Record in March -- Update

    OTTAWA--Canada's sizzling housing market shows no signs of slowing down as sales in March set a fresh record by a significant margin. The strength in housing is prompting warnings from the Bank of Canada, while some senior economists believe the extraordinary monetary policy launched since the start of the pandemic might now be inappropriate. Data released Thursday from the Canadian Real Estate Association indicated home sales across Canada climbed 5.2% in March.

  • U.S. Home-Builder Confidence Increases Slightly in April -- NAHB

    Home-builder confidence in the U.S. rose in April even as builders continued to grapple with rising lumber prices and supply chain issues and consumers faced higher home prices due to a lack of inventory, according to a measure released Thursday from the National Association of Home Builders. Here are the report's main takeaways:. --The association's housing market index, which gauges the single-family housing market, increased to 83 in April, up one point from 82 in March.

  • Housing Starts and Building Permits Seen Up -- 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 Friday 0830 Housing Starts Mar 1.62 M 1.421 M-- percent change Mar +14.0% -10.3% 0830 Building Permits Mar 1.75 M 1.682 M-- percent change Mar +4.0% -10.8% 1000 Consumer Sentiment Apr 89.0 84.9** March Final Reading.

  • Jobless Claims Fell to a New Pandemic Low Last Week -- 2nd Update

    Unemployment claims declined to the lowest level since the coronavirus pandemic struck last spring, adding to signs the U.S. economic revival is picking up speed. Jobless claims, a proxy for layoffs, fell to 576,000 last week from 769,000 a week earlier. That is the lowest weekly figure since March 2020. Claims remain higher than the pre-pandemic levels of around 220,000, but economists expect they will continue to drop as the recovery accelerates.

  • U.S. Industrial Production Rebounded in March

    Industrial production in the U.S. bounced back in March, partly reversing its weather-related decline in February, signaling that the sector is gaining momentum amid strong demand for factory goods but also hindered by supply bottlenecks. Industrial production, a measure of factory, mining and utility output, rose at a seasonally adjusted 1.4% in March compared with February, the Federal Reserve said Thursday. The reading is the highest since July 2020, but misses forecasts...

  • Canada Housing Sales Set Fresh Record in March

    OTTAWA--Canada's sizzling housing market shows no signs of slowing down as sales in March set a fresh record by a significant margin. The strength in housing is prompting warnings from the Bank of Canada, while some senior economists believe extraordinary monetary policy is now inappropriate. Data released Thursday from the Canadian Real Estate Association indicated home sales across Canada climbed 5.2% in March.

  • Expansion Pace of Manufacturing Activity in Philly Fed's District Accelerates in April

    Growth of manufacturing activity in the Philadelphia area accelerated in April to its highest point in nearly 50 years, data from a report released by the Federal Reserve Bank of Philadelphia showed Thursday. The index for current general activity stood at 50.2 in April, up from a downwardly revised 44.5 in March. The reading is above economists' forecasts in a The Wall Street Journal poll, which expected it to come in at 42.0.

  • U.S. Retail Sales Rose 9.8% in March -- Update

    U.S. shoppers boosted retail spending by nearly 10% in March as federal-stimulus funds made their way to households, warmer weather set in and the economy reopened more fully from pandemic-related restrictions. Retail sales-- a measure of purchases at stores, at restaurants and online-- jumped 9.8% last month, the Commerce Department reported Thursday. The increase was the largest monthly gain since last May, during the initial bounceback from lockdowns early in the pandemic.

  • Jobless Claims Fell to a New Pandemic Low Last Week -- Update

    Unemployment claims declined to the lowest level since the pandemic struck last spring, adding to signs the U.S. economic revival is picking up speed. Jobless claims, a proxy for layoffs, fell to 576,000 last week from 769,000 a week earlier. That is the lowest weekly figure since March 2020, but still way above the levels of around 220,000 that prevailed early last year, before the coronavirus pandemic hit the U.S. economy.

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