Economics News Results

  • U.S. Nonfarm Private Sector Lost 27,000 Jobs Amid Coronavirus

    The nonfarm private sector in the U.S. lost 27,000 jobs in March as businesses, particularly smaller firms, felt the impacts from the Covid-19 pandemic. Small businesses, or those with between 1 and 49 employees, lost those most jobs, the ADP National Employment Report for March showed. Economists polled by The Wall Street Journal were expecting a loss of 125,000 jobs.

  • Brazil February Industrial Production Rose as Motor Vehicle Output Increased

    SAO PAULO--Brazil's industrial production increased in February, as output of motor vehicles and chemicals rose for the second month. Production rose a seasonally adjusted 0.5%, the second consecutive monthly increase, and declined 0.4% from a year earlier, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday. In January, production rose a revised 1.2% in the month and shrank a revised 0.9% from a year earlier.

  • Factories Cut Output, Jobs as Coronavirus Lockdown Bites

    Factories across Asia and Europe cut output and jobs at the fastest pace since the global financial crisis, a sign the global economy has entered a deep freeze as governments lockdown their populations in an effort to contain the novel coronavirus and minimize mortality. A series of business surveys released Wednesday painted an almost uniform picture of sharply declining production, falling new orders and contracting payrolls. The main exception was China, which saw a...

  • Workers Return to China's Factories, but Coronavirus Hurts Global Demand -- Update

    BEIJING--Chinese workers returned to factory floors in March, but operations remained slow due to sluggish demand, dampening hopes for a speedy recovery as the coronavirus pandemic continues to paralyze the global economy. Chinese factory activity expanded in March, following sharp contractions in January and February, when Beijing locked down much of central Hubei province and took other drastic measures to contain the virus. However, smaller companies appeared to lag...

  • Indonesia's Economy May Contract 0.4% in Worst-Case Scenario

    Indonesia's economy is expected to weaken sharply this year due to the coronavirus pandemic, the Ministry of Finance said Wednesday. The government's forecast for gross domestic product growth at the start of the year was 5.3% but taking into account the coronavirus pandemic, Finance Minister Sri Mulyani Indrawati said economic growth could slow to 2.3%. She added that in a worst-case scenario, the economy could contract 0.4% this year.

  • Asean Manufacturing Acitivity Indicator Hits Record Low in March

    Southeast Asian manufacturers felt the brunt of the coronavirus pandemic in March, with the Asean manufacturing purchasing managers' index plunging to an all-time low as operating conditions worsened at the fastest pace since the survey started in July 2012, IHS Markit said Wednesday. The index fell to 43.4 in March from 50.2 in February, way below the 50.0 level separating expansion from contraction. The figure indicates a marked downturn, while all of the survey's...

  • China Factory Activity Expanded Slightly in March, Private Gauge Shows

    BEIJING--A private gauge of China's manufacturing activity in March rebounded from a record low, in line with official data suggesting early signs of economic recovery amid the coronavirus pandemic. The Caixin China manufacturing purchasing managers index, which is tilted toward small, private manufacturers, rose to 50.1 in March from 40.3 in February, Caixin Media Co. and research firm Markit said Wednesday. The March result is just above the 50 mark, which separates...

  • Thailand Manufacturing PMI Hits Record Low in March

    Thailand's manufacturing PMI fell to a record low in March as declines in output and new orders accelerated markedly, IHS Markit said Wednesday. The index dropped to 46.7 in March from 49.5 in February, far below the 50 level separating expansion from contraction. This is the steepest decline in the performance of the manufacturing sector since the survey began in December 2015, IHS Markit said.

  • Indonesia Manufacturing PMI Hits All-Time Low in IHS Markit Poll

    Indonesia's manufacturing PMI fell to a record low in March as measures to contain the spread of the coronavirus severely affected the country's manufacturing sector, IHS Markit said Wednesday. The PMI fell to 45.3 in March from 51.9 in February, firmly below the 50- mark separating expansion from contraction. It is the steepest deterioration in operating conditions since the survey started in April 2011, IHS Markit said.

  • South Korea's Exports Weakened by Coronavirus in March

    South Korea's exports shrank in March as global demand took a hit from the coronavirus pandemic. Outbound shipments fell 0.2% from a year earlier to $46.91 billion following the prior month's revised 4.3% gain, according to Trade Ministry data on Wednesday. The median forecast of seven economists polled by The Wall Street Journal was for a 1.8% increase in March exports.

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