Economics News Results

  • Unemployment Rate Seen Ticking Down to 5.7% -- Data Week Ahead

    The following are forecasts for next week's U.S. data from a survey compiled by The Wall Street Journal. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS Monday 0945 Markit Mfg PMI Jul 63.1 63.1* 1000 ISM Mfg PMI Jul 60.8 60.6 1000 Construction Spending Jun +0.5% -0.3% Tuesday 1000 Factory Orders Jun +0.9% +1.7% Wednesday 0815 ADP Jobs Jul +628 K +692 K 0945 Markit Services PMI Jul 59.8 59.8* 1000 ISM Non-Mfg PMI Jul 60.8 60.1 Thursday 0830 Jobless Claims Jul 31 390 K 400 K 0830 U.S.

  • Chicago Business Barometer Rises in July

    The Chicago Business Barometer rose in July as demand was strong but firms remained concerned about supply-chain disruptions and rising prices. The barometer, also known as the Chicago Purchasing Manager Index, rose to 73.4 this month, both a two-month high and the second-highest pandemic-era reading. Economists polled by The Wall Street Journal were expecting a reading of 64.1.

  • U.S. Personal Spending +1.0% in June -- Update

    U.S. households boosted spending by 1% in June as consumers shelled out more on services at the start of the summer, but a current upswing in Covid-19 cases related to the Delta variant is injecting uncertainty into the economic outlook. Personal-consumption expenditures--a measure of household spending on goods and services--increased last month, the Commerce Department reported Friday, beating economists' expectations for a 0.7% rise. That followed a downwardly revised...

  • U.S. Personal Spending +1.0% in June

    U.S. household spending rose 1% in June and income increased slightly, but a jump in Covid-19 cases is clouding the economic outlook.

  • Taiwan's Second-Quarter GDP Jumped, Despite Local Covid-19 Resurgence

    Taiwan's gross domestic product jumped 7.47% in the second quarter, slightly easing from an 8.92% rise in the first three months of the year, preliminary data showed. The latest data keeps Taiwan among the world's best-performing economies so far this year, even as a recent Covid-19 resurgence in the island led to tightened restrictions. The rise has been driven by the strong expansion in domestic production and better-than-expected exports, even though the local outbreak in...

  • Italian Economy Rebounded in 2Q, Beating Forecasts

    Italy's economy grew in the second quarter on the back of a gradual easing of pandemic restrictions. The eurozone's third-biggest economy grew 2.7% on quarter, following a revised figure of 0.2% growth in the first quarter, the Italian statistics agency Istat said Friday in a first estimate for the period. Economists polled by The Wall Street Journal had forecast a 1.3% expansion.

  • 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...

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