Economics News Results

  • GDP Expected to Recover -- 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 Thursday 0830 Jobless Claims Oct 24 778 K 787 K 0830 Real GDP 3 Q +32.0% -31.4* 0830 GDP Prices 3 Q +2.9% -1.8* 1000 Pending Home Sales Sep +3.0% +8.8% Friday 0830 Personal Income Sep +0.5% -2.7% 0830 Consumer Spending Sep +1.0% +1.0% 0830 Core PCE Prices M/M Sep +0.2% +0.3% 0830...

  • South Africa Expects Economy to Shrink 7.8% This Year

    By Aaisha Dadi Patel and Gabriele Steinhauser. JOHANNESBURG--South Africa's finance minister on Wednesday announced costly new bailouts for state-owned enterprises, including its flag carrier, as he predicted that the country's economy would shrink 7.8% this year. South African Airways, which has been grounded in recent months, will receive an extra 10.5 billion South African rand this year to help fund its rescue plan, while the state-owned Land Bank will get an additional...

  • Housing Affordability Crisis Deepens in Fire-Prone Parts of California

    Insurance companies retreated from selling home insurance in wildfire-prone parts of California in 2019, new state data shows, making it more difficult and expensive for homeowners in those areas to protect their homes. The availability of standard home insurance in fire-prone areas could shrink further after another round of wildfires struck the state earlier this year. New fires in Southern California prompted the evacuation of thousands of homes on Monday.

  • South Africa Annual CPI Fell to 3.0% in September

    JOHANNESBURG--South Africa's annual consumer price inflation inched down to 3.0% in September from 3.1% in August. The reading is just within the South African Reserve Bank's target range of between 3% and 6% annual inflation. The data comes ahead of a mid-term budget update on Wednesday afternoon, after an economic recovery plan outlined by the president earlier in October.

  • Malaysia Trade Surplus Widened In September as Exports to China, U.S. Surge

    Malaysia's trade surplus more than doubled in September from a year earlier as exports to key trading partners rose as the global economy normalized from Covid-19 and imports remained subdued amid weak domestic demand. The country's trade surplus rose to 21.97 billion ringgit thanks in particular to strong exports to China and the U.S., Ministry of International Trade and Industry data showed Wednesday. That handily beat the median forecast from a Wall Street Journal poll of...

  • U.S. Consumer Confidence Slightly Drops in October

    Consumer confidence in the U.S. decreased slightly in October as the short-term outlook worsened amid a new rise in Covid-19 infections, according to data from The Conference Board released Tuesday. The consumer confidence index fell to 100.9 in October from a downwardly revised 101.3 in September. Economists polled by The Wall Street Journal expected consumer sentiment to edge up slightly to 102.0.

  • Mid-Atlantic Manufacturing Activity Strengthens in October, Survey Shows -- Richmond Fed

    Manufacturing activity across the central Atlantic region of the U.S. strengthened in October and posted its highest reading on record, data from a survey from the Federal Reserve Bank of Richmond showed Tuesday. The Fifth District Survey of Manufacturing Activity's composite index came in at 29 in October, up from the 21 reading registered in September. The indicator beat forecasts from economists polled by The Wall Street Journal, which expected the index to be at 16..

  • Durable-Goods Orders Rise for Fifth Consecutive Month -- Update

    Orders for long-lasting factory goods increased for the fifth consecutive month in September, the latest sign manufacturing companies are rebounding from supply-chain disruptions and shutdowns related to the coronavirus pandemic. New orders for durable goods-- products designed to last at least three years-- rose 1.9% in September compared with August, the Commerce Department said Tuesday. A closely watched proxy for business investment-- new orders for nondefense capital...

  • Correction to South Korea Economy Article

    South Korea had its first recession in more than 10 years on an annual basis. "South Korean Economy Returns to Growth" at 8:16 a.m. ET, said it was the first in more than 15 years. On a quarterly basis, which is more widely used in South Korea, it is the first recession in 17 years.

  • Durable-Goods Orders Rise for Fifth Consecutive Month in September

    Orders for long-lasting factory goods increased for the fifth consecutive month in September, the latest sign manufacturing companies are recovering from supply-chain disruptions and shutdowns related to the coronavirus pandemic. New orders for durable goods--products designed to last at least three years--rose 1.9% in September compared with August, the Commerce Department said Tuesday. A closely watched proxy for business investment--new orders for nondefense...

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