Economics News Results

  • Singapore PMI Rose to 46.8 in May From 44.7 in April

    SINGAPORE--Singapore's manufacturing activity improved in May, owing to slower contractions in the key subindexes for new orders, new exports, factory output and employment. The purchasing managers' index rose 2.1 points to 46.8 in May, the Singapore Institute of Purchasing and Materials Management said Wednesday. The PMI was at 44.7 in April.

  • U.S. Private Sector Lost 2.76 Million Jobs in May

    The nonfarm private sector in the U.S. lost 2.76 million jobs in May, signalling the speed of layoffs continued to outpace any rehiring despite lockdowns being eased across the country, data from ADP National Employment Report showed Wednesday. Total U.S. nonfarm private employment was down by 2.76 million, the second worst reading in the indicator's historic series but a significant rebound from April when job losses amounted to a revised 19.6 million. Economists polled by Dow...

  • Brazil April Industrial Output Plunged 18.8% as Non-Essential Businesses Closed

    SAO PAULO--Brazil's industrial production plunged in April, the first full month of social distancing measures implemented in the country to slow the spread of the coronavirus. Production fell a seasonally adjusted 18.8%, the worst outcome since the series began 18 years ago, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday. Output plummeted 27.2% from a year earlier, also the worst result since the series began.

  • Italy's Unemployment Rate Fell in April as Inactivity Climbed

    Italy's unemployment rate fell significantly in April as laid-off workers refrained from looking for jobs amid a strict lockdown to contain the coronavirus. The country's unemployment rate was at 6.3% in April, sharply down from the 8.4% reading in March, data from Italy's statistic agency Istat showed Wednesday. This is the lowest figure since November 2007..

  • How Many U.S. Workers Have Lost Jobs During Coronavirus Pandemic? There Are Several Ways to Count

    Friday's U.S. jobs report from the Labor Department is expected to show U.S. employers shed nearly 30 million positions from payrolls this spring as a result of the coronavirus pandemic and related shutdowns-- but that is just one of several varying estimates of job destruction. Other data suggest layoffs might have topped 40 million, while another count shows only about 20 million are tapping unemployment benefits. No matter the measure, job loss triggered by the pandemic is...

  • German Jobless Claims Rose at Slower Pace in May

    German jobless claims rose in May but less than in April, when the coronavirus lockdown took its toll on the German labor market. Jobless claims rose by 238,000 in May after rising by 372,000 in April, the Federal Employment Agency said Wednesday. Economists polled by Dow Jones Newswires had forecast an increase of 210,000..

  • China Caixin Service PMI Rebounds Sharply in May

    BEIJING--A private gauge of China's service sector activity rebounded sharply to a nearly ten-year high in May as domestic demand recovered amid government measures to buoy economic growth. The Caixin China services purchasing managers index rose to 55.0 in May from 44.4 in April, Caixin Media Co. and research firm Markit said Wednesday. The reading stood above the 50 mark that separates expansion from contraction, after it plunged below 50 for three straight months due to...

  • Australian Economy Contracts in 1Q, Setting Scene for Recession -- Update

    SYDNEY--Australia's economy contracted in the first quarter for the first time since 2011, as the impact of bushfires and coronavirus-related lockdowns scuttled consumer buying and confidence, setting the scene for the country's first recession in nearly 30 years. The economy contracted by 0.3% in the first three months of the year from the previous quarter, with on-year growth at 1.4%, the Australian Bureau of Statistics said Wednesday. With over a third of its exports...

  • Australian Economy Contracts in 1Q, Setting Scene for Recession

    SYDNEY--Australia's economy contracted in the first quarter for the first time since 2011, as the impact of bushfires and coronavirus-related lockdowns scuttled consumer buying and confidence, setting the scene for the country's first recession in nearly 30 years. The economy contracted by 0.3% in the first three months of the year from the previous quarter, with on-year growth at 1.4%, the Australian Bureau of Statistics said Wednesday. With over a third of its exports...

  • May Unemployment Rate Seen at 19.5% -- Data Week Ahead

    The following are forecasts for this week's remaining U.S. data from a survey compiled by The Wall Street Journal. Forecasts were last updated Monday afternoon. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS Wednesday 0815 ADP Jobs May -8750 K -20236 K 0945 Markit Services PMI May 37.5 36.9* 1000 ISM Non-Mfg Svy May 44.0 41.8 1000 Factory Orders Apr -12.5% -10.3% Thursday 0830 Jobless Claims May 30 1800 K 2123 K 0830 U.S.

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