Economics News Results

  • China's Factory Recovery Continues as Service Sector Hits Seven-Year High

    A gauge of China's factory activity remained in expansionary territory for an eighth consecutive month while activity in the services-and-construction sector hit a seven-year high, pointing to continued recovery across the world's second-largest economy as it rebounds from the pandemic. China's official manufacturing purchasing managers index, a key gauge of factory activity, slipped slightly to 51.4 in October from 51.5 in the previous month, according to data...

  • Correction to article on Trump and Biden Budget-Deficit Policies

    Excluding temporary spending related to the pandemic, President Trump's policy plans would add roughly $4.95 trillion to the debt, while Joe Biden's plans would add up to $5.6 trillion and increase debt to 127% of GDP. "Where Trump and Biden Stand on Budget Deficits," at 9:40 a.m. ET, gave incorrect figures for the overall debt added and, for Mr. Biden's proposals, debt added as a share of GDP.

  • Unemployment Expected to Tick Down -- Data Week Ahead

    The following are forecasts for next week's U.S. data from a survey compiled by The Wall Street Journal. The FOMC announcement is scheduled for Thursday at 2:00 p.m. ET, followed by a press conference with Fed Chairman Jerome Powell at 2:30 p.m. ET. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS Monday 0945 Markit Mfg PMI Oct N/A 53.3* 1000 ISM Mfg PMI Oct 56.0 55.4 1000 Construction Spending Sep +1.0% +1.4% Tuesday 1000 Factory Orders Sep +1.0% +0.7% Wednesday 0815 ADP Jobs Oct +650...

  • U.S. Personal Income +0.9% in Sept; Consensus +0.5% -- 3rd Update

    U.S. households boosted spending for a fifth straight month, helping the economy dig further out from the deep hole created by the pandemic. The Commerce Department said personal-consumption expenditures-- a measure of household spending on goods and services-- rose 1.4% last month. Consumers have increased spending since the summer, although the pace of gains slowed into early fall.

  • U.S. Personal Income +0.9% in Sept; Consensus +0.5% -- 2nd Update

    U.S. households boosted spending for a fifth straight month, helping the economy dig further out from the deep hole created by the pandemic. The Commerce Department said personal-consumption expenditures-- a measure of household spending on goods and services-- rose 1.4% last month. Consumers have increased spending since the summer, although the pace of gains slowed into early fall.

  • U.S. Consumer Confidence Ticks Up in October But Stalls at Month-End

    Consumer confidence in the U.S. increased slightly in October compared with September, but data collected during the second half of the month showed sentiment is stalling, according to a University of Michigan survey released Friday. The final reading of the index of consumer sentiment was 81.8 in October, marginally higher than the flash estimate of 81.2 two weeks ago and slightly up from September's 80.4 level. Economists surveyed by The Wall Street Journal had expected the...

  • Chicago-Area Business Activity Slightly Eases in October -- MNI Indicators

    Business activity in the Chicago area expanded in October for the fourth consecutive month, although at a slightly slower rate than that of September, data from MNI Indicators showed Friday. The Chicago Business Barometer came in at 61.1 in October, down from September's reading of 62.4. Economists polled by The Wall Street Journal had expected the barometer to stand at a lower level of 57.9.

  • Where Trump and Biden Stand on Budget Deficits

    Federal debt has climbed in recent years, and it is on a trajectory to rise further regardless of who is in the White House come January, as the economic downturn and the rising cost of Social Security and Medicare pressure government finances. Both President Trump and former Vice President Joe Biden have called for more spending to combat the economic fallout from the coronavirus pandemic, arguing that short-term deficit increases are necessary to help stimulate the...

  • Mexican Economy Rebounds in Third Quarter

    MEXICO CITY-- Mexico's economy picked up sharply in the third quarter, led by a rebound in industrial production as businesses reopened from shutdowns to slow the spread of the coronavirus. Gross domestic product, a measure of the country's output in goods and services, expanded 12% in seasonally adjusted terms from the second quarter, the National Statistics Institute said Friday. Industrial production was up 22%, outpacing services, which increased 8.6%.

  • Mexican Economy Rebounds in Third Quarter

    MEXICO CITY--Mexico's economy picked up sharply in the third quarter, led by a rebound in industrial production as businesses reopened from shutdowns to slow the spread of the coronavirus. Gross domestic product, a measure of the country's output in goods and services, expanded 12% in seasonally adjusted terms from the second quarter, the National Statistics Institute said Friday. Industrial production was up 22%, outpacing services which increased 8.6%.

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