Economics News Results

  • North Korean Economy Shrank Most in More Than Two Decades, BOK Says

    North Korea's economy likely shrank the most in more than two decades last year, as pandemic lockdowns and continued U.N. sanctions weighed on its growth, South Korea's central bank said Friday. North Korea's gross domestic product is estimated to have contracted 4.5% in 2020-- the worst since 1997-- after expanding an estimated 0.4% in 2019, the Bank of Korea said in an annual report. North Korea doesn't announce its own official GDP data.

  • U.S. Pending Home Sales Fell in June, Missing Expectations -- NAR

    The number of houses going under contract in the U.S. declined in June after rising the previous month, data from the National Association of Realtors showed Thursday. Here are the report's main takeaways:. --The Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings, decreased 1.9% to 112.8 in June compared with the previous month.

  • Consumer Spending Seen Up in June -- Data Week Ahead

    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 Friday 0830 Personal Income Jun -0.2% -2.0% 0830 Consumer Spending Jun +0.7% +0.0% 0830 Core PCE Prices M/M Jun +0.6% +0.5% 0830 Core PCE Prices Y/Y Jun +3.6% +3.4% 0830 Employment Cost Index 2 Q +0.9% +0.9% 0945 Chicago PMI Jul 64.1 66.1 1000 Consumer Sentiment Jul 80.8 80.8** July Prelim Reading. Write to Tim Merle at...

  • Kirkland Lake Gold: Strong Canadian Dollar Increased Expenses in 2Q -- Currency Comment

    Kirkland Lake Gold Ltd.' s exposure to U.S. and Australian dollars as the Canadian dollar strengthened increased the company's expenses. Here's what the gold producer had to say:. "After weakening sharply against the U.S. dollar in the first quarter of 2020, concurrent with the emergence of the Covid-19 pandemic, the Canadian and Australian dollars began strengthening against the U.S. dollar starting in the second quarter of 2020 with this trend continuing through the remainder...

  • U.S. GDP +6.5% Rate in 2Q

    GDP grew at a 6.5% annual rate in the second quarter, up slightly from earlier in the year. The economy's size now exceeds its pre-pandemic level. (END) Dow Jones Newswires 07-29-21 0850 ET Copyright (c) 2021 Dow Jones& Company, Inc..

  • German Consumer Prices Climb Unexpectedly Strongly in July

    German consumer prices rose strongly in July, according to preliminary data released by the German statistics office Destatis on Thursday. Consumer prices rose 3.8% on year measured by national standards, more than the 3.3% forecasts by economists polled by The Wall Street Journal. They rose 3.1% on year by European Union-harmonized standards, slightly above the 3.0% forecast of economists polled by The Wall Street Journal.

  • Belgian Economy Grew in 2Q as Pandemic Restrictions Were Eased

    The Belgian economy grew in the second quarter thanks to the gradual easing of coronavirus restrictions, the National Bank of Belgium said Thursday. The country's gross domestic product grew 1.4% compared with the previous quarter, the central bank said. According to a first estimate, value added was up on the previous quarter by 1.1% in industry, 0.5% in construction and 1.4% in services, the report said.

  • German Jobless Claims Fell More Than Expected in July

    German jobless claims fell considerably more than expected in July, the Federal Employment Agency said Thursday. Jobless claims fell by 91,000 on the month after declining by a revised figure of 39,000 in June. Economists polled by The Wall Street Journal had forecast a decline of 22,500..

  • Spanish Unemployment Rate Declined in the Second Quarter

    Spain's unemployment rate fell slightly in the second quarter of 2021 but remained at a high level as the labor market continued to suffer from the coronavirus pandemic and its related restrictions. The country's unemployment rate declined to 15.26% in the second quarter from 15.98% in the previous quarter, Spanish statistics office INE said Thursday. Jobless claims fell by 110,100 in the quarter to a total of 3.54 million unemployed.

  • Text of Fed's July Monetary Policy Statement

    For release at 2 p.m. EDT July 28, 2021 The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. With progress on vaccinations and strong policy support, indicators of economic activity and employment have continued to strengthen.

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