Economics News Results

  • Mexico Confirms Its Economy Rebounded in Third Quarter

    MEXICO CITY-- Mexico's economy bounced back in the third quarter, led by increases in industrial output as business reopened from shutdowns to slow the spread of the coronavirus, but activity remained well below its year- earlier level, revised data show. Gross domestic product, a measure of output in goods and services, expanded a seasonally adjusted 12.1% in the July-September period following a record 17% contraction in the second quarter, the National Statistics Institute...

  • After Biden's Win, New York's Budgetary Waiting Game Continues

    Top New York lawmakers say they will continue to wait for a federal coronavirus relief package before making any adjustments to the state budget even as fiscal issues pile up for the state's localities and public authorities. The wait-and-see approach has ruled the State Capitol since the spring, when members of the Democratic-controlled state Assembly and Senate enacted a budget that gave Gov. Andrew Cuomo unilateral power to hold back spending if additional federal aid...

  • Riksbank Leaves Rate Path Unchanged But Upgrades Asset Purchases

    STOCKHOLM--Sweden's central bank on Thursday backed earlier guidance that its key repo rate will remain unchanged at zero at least until late 2023, but said it will expand its asset-purchase program to boost conditions for an economic recovery and help inflation rise towards target. The Riksbank said the second wave of coronavirus infections has promted tougher restrictions, hurting the already hard-hit services sector and prompting growth forecasts to be revised down...

  • German Consumer Sentiment Set to Decline in December Amid Lockdown -GfK

    German consumer sentiment is set to fall in December, as the partial lockdown has dampened the optimism of German consumers, market-research group GfK said Thursday. GfK's forward-looking consumer-sentiment index is set to fall to minus 6.7 points in December from a revised minus 3.2 points in November. Economists surveyed by The Wall Street Journal had forecast minus 5.5 points for December.

  • Fed Officials Discussed Asset Purchase Program at November Meeting -- Update

    Federal Reserve officials this month discussed ways to provide more concrete guidance about their plans to continue purchases of Treasury and mortgage-backed securities. Minutes of the Nov. 4-5 meeting released Wednesday showed officials also discussed ways that those purchases could be changed to provide more stimulus to the economy, if needed. But they didn't indicate any imminent changes in that direction.

  • Fed Officials Discussed Asset Purchase Program at November Meeting

    Federal Reserve officials resumed discussions at their policy meeting earlier this month about their purchases of Treasury and mortgage-backed securities, according to minutes of the meeting released Wednesday. Since June, the Fed has been buying $80 billion per month in Treasurys and $40 billion in mortgage securities, net of redemptions. Officials have considered ways they could provide more support for the economy by adjusting those purchases or providing more...

  • U.S. Consumer Spending Rises for Sixth Straight Month -- 3rd Update

    The U.S. economy is recovering at a sturdy but slowing pace heading into the holidays as Covid-19 infections continue to rise. Consumers stepped up their spending by a brisk 0.5% in October, down from a gain of 1.2% the month before, the Commerce Department said Wednesday. Factory orders for long-lasting goods rose a solid 1.3%, in part because businesses shelled out more for long-term projects, the agency said.

  • U.S. Consumer Confidence Wanes in November Amid Spike in Virus Infections

    Consumer confidence in the U.S. fell in November compared with October, according to a University of Michigan survey released Wednesday. The final reading of the index of consumer sentiment was 76.9 in November, almost unchanged from the flash estimate of 77.0 two weeks ago and down from October's 81.8 level. Economists surveyed by The Wall Street Journal had expected the indicator to remain unchanged from its preliminary reading at 77.0.

  • U.S. New Home Sales Fell in October

    Purchases of new single-family houses in the U.S. slightly decreased in October. Here are the main takeaways from the Commerce Department's report released Wednesday:. --New home sales fell 0.3% in October compared with September to a seasonally adjusted annual rate of 999,000..

  • U.S. Personal Spending Rose 0.5%, Personal Income Fell 0.7% In October

    Americans' spending rose 0.5% in October while incomes fell 0.7%, amid signs the economic recovery was slowing.

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