Argentina's economy contracted again in the second quarter while unemployment rose, as the country was slammed by galloping inflation, government austerity and high interest rates. Argentina's gross domestic product shrank a seasonally adjusted 0.3% from the first quarter, the fourth contraction in five quarters, statistics agency Indec said Thursday, though it expanded 0.6% from a year earlier. Indec revised the first quarter figure to unchanged from the fourth quarter...
Argentina's economy contracted again in the second quarter while unemployment rose, as the country was slammed by galloping inflation, government austerity and high interest rates. Argentina's gross domestic product shrank a seasonally adjusted 0.3% from the first quarter, the fourth contraction in five quarters, statistics agency Indec said Thursday, though it expanded 0.6% from a year earlier. Indec revised the first quarter figure to unchanged from the fourth quarter...
August was the strongest month for sales of U.S. homes in nearly a year and a half, sparking fresh hope that a protracted slump in the housing market may finally be starting to reverse. Sales of previously owned U.S. homes rose 1.3% in August from July to a seasonally adjusted annual rate of 5.49 million, the National Association of Realtors said Thursday. Economists surveyed by The Wall Street Journal expected sales to fall 1.1% last month.
WASHINGTON-- The House passed a short-term spending bill Thursday, taking the first step toward avoiding a government shutdown at the end of the month. The stopgap funding, called a continuing resolution, will keep the government open until Nov. 21, several weeks beyond the end of the federal fiscal year on Sept. 30. The legislation also extends several health-care programs and other expiring measures, including the National Flood Insurance Program and the U.S.
An economic index that measures U.S. business trends remained unchanged from July to August, following a slight increase in July and no change in June. The Conference Board Leading Economic Index stayed at 112.1 in August. Economists polled by The Wall Street Journal expected the index reading to be slightly up at 112.2.
By David Harrison and Likhitha Butchireddygari. WASHINGTON-- Sales of previously owned U.S. homes rose in August, adding to recent modest signs of recovery in the housing market. Existing-home sales rose 1.3% in August from the previous month to a seasonally adjusted annual rate of 5.49 million, the National Association of Realtors said Thursday.
Manufacturing activity moderated in the mid-Atlantic region in September, though growth is likely to sustain over the next six months, the Federal Reserve Bank of Philadelphia said Thursday. The Philly Fed's Manufacturing Business Outlook Survey's index of business activity declined to 12 in September from a reading of 16.8 in June. Economists polled by The Wall Street Journal expected a reading of 9.5.
WASHINGTON--The number of Americans applying for first-time unemployment benefits rose slightly last week, though it remained at historically low levels. --Initial jobless claims rose by 2,000 in the week ended Sept. 14 to 208,000, the Labor Department reported Thursday. Economists surveyed by The Wall Street Journal had expected jobless claims to rise to 215,000..
WASHINGTON--The U.S. current-account deficit, a measure of the nation's trade and financial flows with other countries, narrowed to a seasonally adjusted $128.19 billion in the second quarter from a revised $136.19 billion in the first quarter, the Commerce Department said Thursday. Economists surveyed by The Wall Street Journal had expected a $128.0 billion deficit. The current account tracks movements of goods and services across borders as well as income from...
FedEx Corp. (FDX) has offered the latest signal that a turning point is coming in the business cycle. The delivery company cut its 2020 outlook after the closing bell Tuesday, pointing to trade tensions and a weak global economy. Chief Executive Frederick Smith said on the company's conference call that FedEx (FDX) is taking steps to reduce its capacity, partly because the absence of a trade deal with China has reduced the movement of goods internationally.
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