Economics News Results

  • Mexico Registers $1.24 Billion January Trade Deficit

    MEXICO CITY-- Mexico ran up a $1.24 billion trade deficit in January, its first deficit in eight months with both exports and imports down from a year earlier. Exports fell 2.6% from January 2020 to $32.7 billion, while imports decreased 5.9% to $33.94 billion, the National Statistics Institute said Friday. Exports of manufactured goods were down 2.6% from a year earlier, with vehicles and auto parts shipments up 1.7% and exports of other factory-made goods down 3.2%.

  • India's GDP Expanded 0.4% in Quarter Through December

    NEW DELHI-- India's economy, one of the hardest hit by the Covid-19 pandemic, started growing again last quarter, but the recovery is being driven by those with the highest incomes, while the poor are still struggling. The South Asian nation said Friday that its gross domestic product grew by 0.4% in the three months through Dec. 31 after shrinking by more than 15% over the previous two quarters. The rebound was driven by India's biggest companies and richest consumers.

  • Boost to Household Income Primes U.S. Economy for Stronger Growth

    U.S. households are getting a boost from pandemic-aid programs, priming the economy for a surge in growth this year. The Commerce Department is set to report Friday on how much Americans earned and spent in January-- key indicators of the economy's health. Economists predict that consumer spending grew solidly last month while income soared, the latter by as much as 9.5%.

  • France's Economy Contracts Slightly More Than Estimated in 4Q

    The French economy's contraction in the fourth quarter of 2020 was slightly more pronounced than previously estimated, data from the country's statistics agency Insee showed Friday. In the October-December period, gross domestic product shrank 1.4% from the previous quarter--0.1 percentage point more than the preliminary estimate of a 1.3% contraction released on Jan. 29.. GDP in the quarter contracted 4.9% from a year earlier, the data showed.

  • Malaysia's January Trade Surplus Widened on Increased Electrical & Electronic Exports

    KUALA LUMPUR--Malaysia's trade surplus in January widened 38% compared with the same period a year earlier as the growth in exports outpaced the increase in imports. The country's trade surplus rose to 16.60 billion ringgit helped by an increase in global demand for electrical and electronic goods, Ministry of International Trade and Industry data showed Friday. The trade surplus was MYR20.70 billion in December and MYR12.03 billion in January 2020..

  • Democrats Dealt Blow on Minimum-Wage Drive -- 2nd Update

    WASHINGTON-- The Senate parliamentarian told lawmakers Thursday night that a proposed increase in the minimum wage to $15 an hour didn't comply with Senate rules, dealing a blow to Democrats' efforts to include it in the $1.9 trillion coronavirus relief package. The parliamentarian, the neutral arbiter of the chamber's rules, issued guidance saying she thought it didn't meet the guidelines for reconciliation, the process that Democrats are using to pass their relief plan with a...

  • Fed Officials Upbeat on Outlook, Bond Yield Rise Not Source of Concern

    Federal Reserve officials said Thursday they continue to see the U.S. economy in recovery mode, with several noting they aren't concerned about the recent rise in long-term bond yields and see no need to use monetary policy to push against it. "Despite the near-term challenges, the longer-term outlook for the economy has improved, and our actions of the past year position monetary policy well to support a strong, full recovery and achievement of our goals of maximum employment and...

  • U.S. Treasury Yields Rise After Positive Jobs Data -- Update

    A wave of selling in U.S. government bonds intensified on Thursday, sending yields soaring after new data indicated a strengthening economic recovery and an auction of seven-year Treasurys met with tepid demand from investors. The yield on the benchmark 10- year Treasury note reached as high as 1.539% and was recently 1.501%, according to Tradeweb-- up from 1.388% at Wednesday's close. Moves were also pronounced in shorter-dated bonds, with the five-year yield at one point...

  • Manufacturing Activity in Central U.S. Quickens in February -- Kansas City Fed

    Manufacturing activity in the central part of the U.S. expanded in February at a faster pace than that of the previous month, data from a survey from the Federal Reserve Bank of Kansas City showed Thursday. The Tenth District Manufacturing Survey's composite index was 24 in February, up from 17 in January. Economists polled by The Wall Street Journal expected the indicator to come in at 15..

  • U.S. Pending Home Sales Fell in January -- NAR

    The number of houses going under contract in the U.S. fell in January as inventory constraints continue to hold back prospective buyers, 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, fell 2.8% to 122.8 in January.

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