Economics News Results

  • U.S. consumer sentiment slips but shows massive partisan divide

    U.S. consumer sentiment dipped in early January as Americans reacted to the assault on the U.S. Capitol and a relentless surge in COVID-19 infections and deaths, the University of Michigan said on Friday in a report that also showed a deep partisan divide in views on the economy and outlook.

  • U.S. business inventories rise in November

    U.S. business inventories increased in November, supporting expectations that inventory investment was likely the main driver of economic growth in the fourth quarter. Business inventories rose 0.5% in November after increasing 0.8% in October, the Commerce Department said on Friday. Retail inventories rose 0.7% in November as estimated in an advance report published last month.

  • Canadian home sales soar in December to cap record year, CREA says

    Canadian home sales jumped 7.2% in December from November, setting a new record amid surging demand in the Greater Toronto and Vancouver areas, the Canadian Real Estate Association said on Friday. The industry group said actual sales, not seasonally adjusted, rose 47.2% from a year earlier, while the group's Home Price Index was up 13.0% on a year-over-year basis and up 1.5% from November.

  • U.S. manufacturing output accelerates in December

    U.S. manufacturing output increased more than expected in December, but disruptions to the supply chain as the relentless pandemic keeps some workers at home could slow production in the months ahead. Manufacturing production rose 0.9% last month after advancing 0.8% in November, the Federal Reserve said on Friday.

  • Baltic index marks 5th straight weekly gain on capesize strength

    The Baltic Exchange's main sea freight index retreated on Friday, but still notched up an over 9% weekly rise driven by strong overall gains in the capesize segment. * The Baltic dry index, tracking rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, shed 38 points, or 2.1%, to 1,754, but firmed 9.2% this week.

  • Canadian home sales rose 7.2 pct in December from November- CREA

    Canadian home sales rose 7.2% in December from November, setting a new record amid a surge in demand in the Toronto and Vancouver areas, the Canadian Real Estate Association said on Friday. The industry group said actual sales, not seasonally adjusted, rose 47.2% from a year earlier, while the group's Home Price Index was up 13.0% from last December and up 1.5% from November.

  • U.S. retail sales decline; manufacturing output rises

    U.S. retail sales fell for a third straight month in December amid job losses and renewed measures to slow the spread of COVID-19, further evidence that the economy lost speed at the end of 2020. Still, the economy is unlikely to slip back into recession, with other data on Friday showing production at factories accelerating last month.

  • U.S. retail sales decline; manufacturing output rises

    * Retail sales fall 0.7% in December. * Core retail sales drop 1.9%; November revised down. * Manufacturing production increases 0.9% By Lucia Mutikani. U.S. retail sales fell for a third straight month in December amid job losses and renewed measures to slow the spread of COVID-19, further evidence that the economy lost speed at the end of 2020.

  • EU Commission welcomes Biden proposal for U.S. stimulus

    The European Commission welcomed a $1.9 trillion stimulus package proposed by President-elect Joe Biden to help the U.S. economy deal with the COVID-19 pandemic, but said its full impact would not become clear until Congress debates it. Biden outlined the stimulus package proposal on Thursday, saying bold investment was needed to jump-start the economy and accelerate the distribution of vaccines.

  • Brazil retail sales surprisingly fall in November, first fall in seven months

    Brazilian retail sales surprisingly fell in November, official figures showed on Friday, the first decline in seven months mainly driven by a sizeable fall in sales of food products. Retail activity had rebounded to record levels in October from the depths of the COVID-19 crisis earlier last year, which Economy Ministry officials said reflected the wider economic rebound.

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