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  • Consumer Spending Fell a Record 13.6% in April -- 3rd Update

    U.S. consumer spending, the U.S. economy's main engine, fell by a record 13.6% in April during coronavirus lockdowns, but there are signs that purchasing is slowly creeping up. Personal income, which includes wages, interest and dividends, increased 10.5% in April, the Commerce Department reported Friday. The jump reflected a sharp rise in government payments through federal rescue programs, primarily one- time household stimulus payments of $1,200. Unemployment insurance...

  • Stocks Slip as U.S.-China Tensions Simmer

    By Avantika Chilkoti, Chong Koh Ping and Gunjan Banerji. U.S. stocks slipped Friday as investors braced for President Trump's response to China's push for tighter security controls on Hong Kong, which could reignite tensions between the world's two largest economies. The S&P 500 shed 0.5%.

  • Correction to Consumer Spending Article

    The Commerce Department reported April consumer spending on long-lasting goods Friday. "Consumer Spending Fell a Record 13.6% in April-- 2nd Update" at 10:11 a.m. ET, incorrectly said it reported the data Thursday. (END) Dow Jones Newswires 05-29-20 1124 ET Copyright (c) 2020 Dow Jones& Company, Inc..

  • Canada Preliminary Figures Point to Narrower Budget Deficit in FY19-20

    OTTAWA--Canada's preliminary fiscal figures for the fiscal year ended on March 31 indicate a narrower budget deficit than originally forecast back in December, according to the country's Finance Department. Estimates of a narrower deficit will likely be overlooked, as pandemic-fueled spending and revenue declines have the Canadian government on track to post its biggest deficit on record for the current 2020-21 fiscal year. According to the Finance Department's...

  • Consumer Sentiment Edged Up In May

    Americans' views of the economy improved in May, as the coronavirus pandemic continued to rattle consumers, according to a University of Michigan survey released Friday. The survey's index of consumer sentiment climbed to 72.3 in the five weeks ending May 26, from 71.8 for the previous four weeks. Economists surveyed by The Wall Street Journal had expected a reading of 74.0.

  • With Canada GDP Drop, Analysts Expect Worse to Come -- Update

    OTTAWA-- Canadian economic output plunged by a near record in the first quarter, as household spending collapsed on coronavirus-induced shutdowns. Canada's gross domestic product, or the broadest measure of goods and services produced in an economy, fell at an 8.2% annualized rate in the first quarter, to 2.10 trillion Canadian dollars, Statistics Canada said Friday. Markets were looking for an annualized drop of 9%, according to economists at Bank of Nova Scotia.

  • Chicago Business Barometer Falls to Lowest Level Since 1982, MNI Indicators Says

    The Chicago Business Barometer fell this month and hit its lowest point in nearly 40 years, MNI Indicators said. The monthly reading was 32.3. Economists polled by The Wall Street Journal were expecting it to be 40..

  • Consumer Spending Fell a Record 13.6% in April -- 2nd Update

    U.S. consumer spending, the U.S. economy's main engine, fell by a record 13.6% in April during coronavirus lockdowns, but there are signs that purchasing is starting to pick up. Personal income, which includes wages, interest and dividends, increased 10.5% in April, the Commerce Department reported Friday. The jump reflected a sharp rise in government payments through federal rescue programs, primarily household stimulus payments of $1,200. Unemployment insurance payments...

  • U.S. Stocks Waver as U.S.-China Tensions Simmer

    U.S. stocks wavered Friday as investors braced for President Trump's response to China's push for tighter security controls on Hong Kong, which could reignite tensions between the world's two largest economies. The S&P 500 slipped 0.2% shortly after the opening bell. The Dow Jones Industrial Average shed roughly 100 points, or about 0.4%.

  • India's GDP Growth Slowed to 3.1% Last Quarter -- Update

    NEW DELHI-- India said Friday that its gross-domestic-product growth slowed to a 11- year low last fiscal year as a nationwide coronavirus lockdown started to strangle the already struggling economy. For the year ended March 31, India's gross domestic product grew 4.2%, according to government data released Friday. The last time it was that low was the year through March 2009. In the quarter ended March 31, GDP growth was 3.1%, down from the previous quarter's 4.1% expansion.

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