Sectors News Results

  • Conference Board's Employment Trends Index Rises in June for Second Consecutive Month

    An index measuring employment trends in the U.S. rose slightly in June for second consecutive month as the labor market continued to recover from the coronavirus shock to the economy, data from the Conference Board showed Monday. The Conference Board Employment Trends Index stood at 49.05 in June, compared with a downwardly revised figure of 45.27 in May. The labor market is still far from making up all lost ground, as the index is down 54.8% from a year ago, the report said.

  • U.S. Services Sector Activity Improves in June, But Still Signals Contraction -- IHS Markit

    Activity in the U.S. services sector improved in June for the second consecutive month, but remained in contraction territory, as the country continued to reopen amid Covid-19 infections on the rise in many states, data from IHS Markit showed Monday. The final reading for the U.S. Services Purchasing Managers' Index for June was 47.9, significantly higher than the 37.5 level registered in May and above the flash figure of 46.7.

  • Recession Led by Services Sector Is Particularly Painful for Latino Workers

    A dramatic drop in hotel stays, elective surgeries and dining out since the coronavirus outbreak in February is driving a recession that is unlike every other since the Great Depression. Prior downturns were largely led by lower spending on such things as cars, houses, and factories while this one is hitting the service industries. That change has meant Latino and Hispanic workers are being particularly hard hit, and economists expect the jobs recovery to be slow and halting as...

  • China's Economy Regains Strength After Strict Coronavirus Measures

    BEIJING--Economic activity is gathering momentum in China, a raft of survey data showed this week, the latest sign that Beijing's uncompromising approach to tackling the coronavirus pandemic is starting to pay dividends even as the U.S. shuts down swaths of its economy in a struggle to contain the virus. A private gauge of China's service-sector activity, released Friday, surged in June to its highest level in more than a decade, as the easing of virus-control measures in most...

  • U.S. Treasury Announces Loan Agreements With Five Major Airlines

    Treasury Department finalized terms of loans to five major airlines as part of an aid program to help the industry weather the coronavirus pandemic. The Treasury said that American Airlines Group Inc. (AAL), Frontier Airlines, Hawaiian Airlines, SkyWest Airlines and Spirit Airlines Inc. (SAVE) had agreed to loan terms and signed letters of intent. Air travel fell sharply this spring as government restrictions on travel and fears of infection kept passengers from flying.

  • India Approves Program to Improve Liquidity of Non-Bank Lenders

    The Indian government approved a program to improve the liquidity of non-bank financial companies and housing-finance companies to avoid any potential systemic risks to the financial sector, the country's central bank said Wednesday. Reserve Bank of India said that a special-purpose vehicle, set up by a State Bank of India (SBKFF) unit, would buy short-term papers from eligible financial companies, and they could only use the proceeds to pay off existing liabilities.

  • Texas Manufacturing Activity Swings to Expansion in June Despite Spike in Infections

    Manufacturing activity in Texas edged up sharply in June despite a recent surge in Covid-19 infections, data from a report about the state's industrial sector from the Federal Reserve Bank of Dallas showed Monday. The production index stood at 13.6 in June compared with minus 28.0 in May, the latest Texas Manufacturing Outlook Survey showed. June's reading marks an improvement of Texas factories' activity for a second consecutive month, after posting an historic low in April...

  • Automakers, Technology Firms Are Largest Components of Fed's Corporate-Bond Purchases

    Apple Inc., Verizon Corp. and the U.S. divisions of several foreign auto makers are among the largest direct beneficiaries of Federal Reserve efforts to support the corporate-debt market, according to disclosures Sunday. In all, the Fed on Sunday identified 794 companies whose bonds it will be buying directly to support the market for investment-grade corporate debt. In addition to Apple and Verizon, the recipients include AT&T Inc. and the U.S. units of Toyota Motor Corp.,...

  • Today's Logistics Report: Picking up the Last Mile; Charging for Inventory; Wine Imports Corked

    Sign up: With one click, get this newsletter delivered to your inbox. Grocers and restaurants want consumers, not delivery drivers, to handle the last mile as online business surges. The sweeping changes in sales patterns driven by coronavirus lockdowns have created a vast test in online fulfillment for the food sector, and the WSJ's Heather Haddon and Jaewon Kang report that businesses now are building out services for customer pickup operations that offer better margins than...

  • Durable Goods Orders Jump in May

    Orders for long-lasting factory goods rose sharply in May as the economy started to climb back from falling demand and supply-chain disruptions related to the coronavirus pandemic. Here are key takeaways from the report:. --New orders for durable goods--products designed to last at least three years--increased 15.8% in May from the previous month, the biggest gain since July 2014. Economists surveyed by The Wall Street Journal had expected orders to rise 9.8%.

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