Economics News Results

  • German 3Q GDP Rebound Revised Up in Second Estimate

    The German economy posted a record expansion in output in the third quarter, even larger than reported in the first release, the German statistics office Destatis said Tuesday. The country's gross domestic product grew 8.5% compared with the previous quarter, according to Destatis. This is above the preliminary estimate of 8.2% growth.

  • GDP Seen Steady, New Home Sales Expected to Rise -- Data Week Ahead -- Update

    The following are forecasts for this week's remaining U.S. data from a survey compiled by The Wall Street Journal. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS Tuesday 0900 S&P/Case-Shiller 20- City Sep +5.6% +5.2% HPI Y/Y 1000 Consumer Confidence Nov 98.0 100.9 1000 Richmond Fed Mfg Svy Nov N/A 29 Wednesday 0830 Jobless Claims Nov 21 733 K 742 K 0830 Durable Goods Orders Oct +0.6% +1.9% 0830 Real GDP 3 Q +33.1% +33.1%* 0830 GDP Prices 3 Q +3.6% +3.6%* 1000 Personal Income Oct -0.1%...

  • Correction to Covid-19 Vaccine Could Unleash Pent-Up Demand, Inflation Article on Nov. 22

    Ellen Zentner is chief U.S. economist at Morgan Stanley. "A Covid-19 Vaccine Could Unleash Pent-Up Demand, Bringing Along Inflation" at 10:14 a.m. ET on Nov. 22 incorrectly said her title was economist. (END) Dow Jones Newswires 11-23-20 1122 ET Copyright (c) 2020 Dow Jones& Company, Inc..

  • U.S. Business Activity Accelerates in November Despite Virus Resurgence -- IHS Markit

    Business activity in the U.S. accelerated in November to a more than five-year high despite the surge in coronavirus infections and tightening restrictions, preliminary data from IHS Markit showed Monday. The flash reading for the U.S. Composite Output Index was 57.9 in November, up from the 56.3 registered in October.

  • Growth Pace of U.S. Economic Activity Ticks Up in October -- Chicago Fed

    The U.S. economy expanded at an above-average rate in October at a quicker pace than that of the previous month, signaling the economy entered the fourth quarter on a stronger footing, data from the Federal Reserve Bank of Chicago showed Monday. The Chicago Fed National Activity Index stood at 0.83 in October, up from an upwardly revised 0.32 in September. The figure is above economists' consensus, who polled by FactSet expected the indicator to be at 0.23.

  • Singapore's Consumer Prices Fell Unexpectedly in October

    SINGAPORE--Singapore's consumer prices unexpectedly fell in October, mostly due to a sharp drop in the cost of private transport while accommodation inflation eased. The consumer-price index fell 0.2% in October from a year earlier, compared with 0.0% in September, the Department of Statistics said Monday. The median estimate in a Wall Street Journal survey of seven economists was for a flat reading.

  • Singapore's Economy Contracted at Slower Pace in Third Quarter

    SINGAPORE--Singapore's economy contracted at a slower pace in the third quarter after pandemic restrictions were eased and growth improved in some major export markets. The Southeast Asian city-state's gross domestic product shrank 5.8% in the third quarter from a year earlier, according to revised Ministry of Trade and Industry data on Monday. The advance estimate of third-quarter GDP had shown a 7.0% contraction.

  • New Zealand Retail Sales Recover From Lockdown Slump

    WELLINGTON, New Zealand--New Zealand retail sales soared in the third quarter following a pandemic induced slump in April and May. The value of retail sales rose a record 28.2% in the July-September quarter from the previous quarter when adjusted for seasonal factors, Statistics New Zealand said Monday. Retail sales volumes rose 28%.

  • Biden Team Faults Mnuchin for Letting Fed Aid Programs Lapse -- Update

    WASHINGTON-- President-elect Joe Biden's transition team sharply criticized Treasury Secretary Steven Mnuchin's decision to allow funding for several emergency Federal Reserve lending programs to expire, escalating a political fight. "The Treasury Department's attempt to prematurely end support that could be used for small businesses across the country when they are facing the prospect of new shutdowns is deeply irresponsible," said Kate Bedingfield, a Biden...

  • Mnuchin, McConnell Discuss 'Targeted' Aid Bill -- 2nd Update

    WASHINGTON-- Treasury Secretary Steven Mnuchin on Friday defended his decision not to extend funding for several Federal Reserve lending facilities, calling on Congress to reappropriate the nearly $500 billion to help small businesses and unemployed workers. The Treasury Department's announcement Thursday that it would allow the funding to expire after Dec. 31 prompted a rare statement of objection from the Fed, which wants to maintain the lending programs as a backstop in...

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