Economics News Results

  • New Jersey Governor Releases $44.8 Billion Budget Plan With No Tax Increases

    Phil Murphy is proposing a $44.8 billion budget that boosts spending on education, economic- development programs and pension payments, as state revenue collections continue to outperform the dire predictions made at the start of the Covid-19 pandemic. The governor's spending plan calls for about $200 million to help jump-start the economy with grants and loans for small businesses and other initiatives and an increase in education spending of more than $600 million.

  • Expansion Pace of Mid-Atlantic Manufacturing Activity Steadies in February -- Richmond Fed

    Manufacturing activity across the central Atlantic region of the U.S. expanded in February at the same pace as the previous month, data from a survey from the Federal Reserve Bank of Richmond showed Tuesday. The Fifth District Survey of Manufacturing Activity's composite index came in at 14 in February, unchanged from January. The reading missed forecasts from economists polled by The Wall Street Journal, who expected the indicator increase slightly to 16..

  • U.S. Consumer Confidence Rises in February -- The Conference Board

    Consumer confidence in the U.S. rose in February for the second consecutive month as Americans grew more upbeat on current business and labor market conditions amid falling Covid-19 infections, data from The Conference Board showed Tuesday. The consumer confidence index increased to 91.3 in February from a downwardly revised 88.9 in January. The reading roughly matches economists forecasts, who polled by The Wall Street Journal expected the indicator to come in at 91.0.

  • Jerome Powell Sees Easy-Money Policies Staying in Place

    WASHINGTON-- Federal Reserve Chairman Jerome Powell reaffirmed the central bank's commitment to maintaining easy- money policies until the economy has recovered further from the effects of the coronavirus pandemic. "The economy is a long way from our employment and inflation goals," Mr. Powell said Tuesday in remarks prepared for delivery at a hearing of the Senate Banking Committee.

  • 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 Wednesday 1000 New Home Sales Jan 850 K 842 K-- percent change +0.9% +1.6% 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...

  • U.S. Home-Price Growth Accelerated in December -- S&P Case-Shiller

    Home-price growth accelerated in December, as the number of homes on the market continued to decline. The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 10.4% in the year that ended in December, up from a 9.5% annual rate the prior month. December marked the highest annual rate of price growth since January 2014..

  • Puerto Rico Rides Muni-Bond Rally to Bankruptcy Deal -- Update

    Puerto Rico moved closer to resolving the largest municipal-debt default in U.S. history after creditors owed roughly $11.7 billion backed a settlement framework, the most Wall Street support yet amassed for a restructuring of the territory's core public debts. The proposed settlement released Tuesday would reduce roughly $18.8 billion in general obligation debt by around three-fifths to roughly $7.4 billion, lowering interest payments to bondholders to levels that...

  • Puerto Rico Rides Muni-Bond Rally to Bankruptcy Deal

    Puerto Rico moved closer to resolving the largest municipal-debt default in U.S. history after creditors owed roughly $11.7 billion backed a settlement framework, the most Wall Street support yet amassed for a restructuring of the territory's core public debts. The proposed settlement released Tuesday would reduce roughly $18.8 billion in general obligation debt to roughly$ 7.4 billion, lowering interest payments to bondholders to levels that Puerto Rico's financial...

  • South African Unemployment Hits Record High in Fourth Quarter

    South Africa's official unemployment rate increased to a record high in the fourth quarter of 2020, data from the country's statistics office showed Tuesday. South Africa's unemployment rate stood at 32.5% in the fourth quarter, up 1.7 percentage points from 30.8% in the third quarter. The reading is the highest since start of the series in 2008..

  • UK Unemployment Rises at End of 2020 Amid Coronavirus

    Unemployment in the U.K. rose at the end of 2020 as the country reeled from a deadly second wave of the coronavirus. Companies added jobs in January, however, and the number of people claiming out of work benefits fell. The data overall suggest the labor market is still weak, but not as sickly as it was at the height of the pandemic in spring last year.

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