Economics News Results

  • Don't Know How Much Stimulus Is Needed? Put it on Autopilot, Some Say

    WASHINGTON-- One of the trickiest questions facing Congress when it takes up the debate on new stimulus later this month is just how much help the economy needs to recover from the Covid-19 pandemic. If it is already recovering rapidly, the government may spend and borrow more than needed, pushing the national debt higher. If the recession drags on, multiple rounds of economic relief may be necessary, a process fraught with political hurdles.

  • Recession Led by Services Sector Is Particularly Painful for Latino Workers

    A dramatic drop in hotel stays, elective surgeries and dining out since the coronavirus outbreak in February is driving a recession that is unlike every other since the Great Depression. Prior downturns were largely led by lower spending on such things as cars, houses, and factories while this one is hitting the service industries. That change has meant Latino and Hispanic workers are being particularly hard hit, and economists expect the jobs recovery to be slow and halting as...

  • With No Summer Concerts, It's Garth Brooks at the Drive-In

    Concert promoters-- and fans-- haven't given up on live music, even with most summer shows wiped out by the coronavirus pandemic. The stadium shows and festivals that had been expected to make this year the biggest ever for live music have given way to virtual tours and drive-in shows. The performances don't come close to making up for scores of canceled or postponed events, but they are finding eager audiences so far and providing a financial lifeline for some artists and bands while...

  • Singapore PMI Rose to 48.0 in June From 46.8 in May

    SINGAPORE--Singapore's manufacturing activity edged up slightly in June, owing to slower contractions in the key subindexes for new orders, new exports, factory output, employment and supplier deliveries. The purchasing managers' index rose 1.2 points to 48.0 in June from 46.8 in May, the Singapore Institute of Purchasing and Materials Management said Friday. However, the PMI remained below 50, indicating a contraction in manufacturing activity, for the fifth straight month.

  • French, Spanish Services Sectors Returned to Growth in June

    The services sectors in France and Spain returned to growth in June, while those of Germany and Italy saw much smaller declines in activity than in recent months, according to surveys of purchasing managers published Friday. The surveys suggest that the eurozone economy is in recovery, with most economists forecasting a jump in growth in the three months through September after lockdowns intended to contain the novel coronavirus led to an unprecedented contraction in the...

  • What's News: Business & Finance -- WSJ

    This article is being republished as part of our daily reproduction of articles that also appeared in the U.S. print edition of The Wall Street Journal. Unemployment fell and the U.S. economy regained 4.8 million jobs in June, but the recent surge in new coronavirus infections could throw the recovery off course. Joblessness is likely to remain in double-digits through year-end and the economic downturn will be more severe than previously forecast, the CBO said.

  • China Caixin Services PMI Rose to Over Ten-Year High in June

    BEIJING--A private gauge of China's service-sector activity surged to the highest level in more than a decade in June, as the easing of virus-control measures in most parts of the country drove demand. The Caixin China services purchasing managers index rose to 58.4 in June from 55.0 in May, Caixin Media Co. and research firm Markit said Friday. The reading came in far above the 50 mark that separates expansion from contraction, signaling rapid month-on-month expansion.

  • U.K. Consumer Confidence Ticked Up at End of June With Reopening of Shops

    Consumer confidence in the U.K. edged up slightly at the end of June as non-essential shops resumed business, data from GfK showed Friday. The GfK consumer confidence barometer climbed to minus 27 at the end of June, from minus 30 registered two weeks earlier. Economists polled by Dow Jones Newswires had expected the barometer to be unchanged at minus 30..

  • CBO Sees Double-Digit Jobless Rate Through 2020, GDP to Shrink 5.9% -- Update

    WASHINGTON-- Unemployment is likely to remain in double digits through year's end, and the economic downturn will be more severe than previously forecast, according to projections released Thursday by the Congressional Budget Office. The CBO estimates the jobless rate will end the year at 10.5%, lower than its earlier forecast of 11.5%. Nevertheless, it is likely to remain above the pre-coronavirus pandemic level of about 3.5% through the end of the decade.

  • *U.S. Unemployment Rate Fell in June -- 4th Update -2-

    (END) Dow Jones Newswires 07-02-20 1610 ET Copyright (c) 2020 Dow Jones& Company, Inc..

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