Economics News Results

  • November Payrolls Growth Expected to Slow -- Data Week Ahead

    The following are forecasts for next week's U.S. data from a survey compiled by The Wall Street Journal. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS Monday 0945 Chicago PMI Nov 59.1 61.1 1000 Pending Home Sales Oct +2.0% -2.2% 1030 Dallas Fed Mfg Svy Nov N/A 19.8 Tuesday 0945 Markit Mfg PMI Nov N/A 56.7* 1000 ISM Mfg PMI Nov 57.5 59.3 1000 Construction Spending Oct +0.9% +0.3% Wednesday 0815 ADP Jobs Nov +400 K +365 K Thursday 0830 Jobless Claims Nov 28 768 K 778 K 0945 Markit Services...

  • Trump's Payroll-Tax Deferral Creates Predicament for Congress

    WASHINGTON-- President Trump's decision to defer payroll taxes until the end of the year is leaving challenges for lawmakers to manage after he leaves office in January, and they haven't figured out what-- if anything-- to do. Members of Congress in both parties weren't keen on the August executive action, which let employers stop collecting the 6.2% Social Security payroll tax from many workers in the final four months of 2020. The move was meant as a form of relief during the economic...

  • Brazil steel sales to rise 5.3% in 2021, IABr says

    Steel sales in Brazil are likely to grow by 5.3% in 2021 from this year, to 19.9 million of tonnes, Instituto Aco Brasil, the group that represents mills, said on Friday. IABr also said it sees steel consumption up 5.8% next year, to 21.97 million of tonnes.

  • Baltic index posts best week in eight on strong vessel rates

    The Baltic Exchange's main sea freight index advanced on Friday, booking its biggest weekly gain since early October, on the back of higher rates across all vessel segments. * The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, rose by 11 points, or 0.9 %, to a more than three-week high of 1,230.

  • German minister does not expect big insolvency wave in Nov, Dec

    German Economy Minister Peter Altmaier said on Friday he expects emergency aid will prevent a big wave of insolvencies in November and December among businesses, such as restaurants and hotels, that have been forced to close due to coronavirus curbs.

  • Brazil loan defaults fall to record low in October

    Loan defaults in Brazil fell to historic lows in October, figures showed on Friday, in further evidence of the economy's recovery and that the central bank's steps to loosen financial conditions were working.

  • Mexico Registers Record Trade Surplus in October

    MEXICO CITY--Mexico had a $6.22 billion surplus in goods trade in October, its largest on record, as exports continued to recover from industry shutdowns earlier in the year. Exports increased 2.9% from the year-earlier month to $41.94 billion, while imports fell 13.8% to $35.72 billion, the National Statistics Institute said Friday. The result brought the trade balance for the first 10 months of the year to a surplus of $25.18 billion, with a $36.91 billion surplus in...

  • India's economic contraction slows as vaccines boost recovery hopes

    * Economy contracts 7.5% in Sept qtr vs 23.9% in June qtr. * Manufacturing grows 0.6% in Sept qtr vs 39.3% fall in June qtr. * Economists see recovery early next year on launch of vaccines. By Manoj Kumar.

  • India's Economy Contracted 7.5% Last Quarter

    NEW DELHI-- The coronavirus pandemic has strangled one of the most powerful engines of economic growth in the world: India's 1.3 billion consumers. The country's gross domestic product shrank 7.5% last quarter compared with a year earlier, India said Friday, as Covid-19 has transformed the world's fastest-growing economy into one of the world's fastest contracting. With more than 9.3 million people infected and 135,000 killed by the virus, India has been one of the world's...

  • Brazil bank lending spreads widen to 21.5 percentage points in Oct - central bank

    Bank lending spreads in Brazil rose in October to 21.5 percentage points from 21.2 percentage points in September, while the 90-day default ratio fell to 3.1% from 3.2%, the central bank said on Friday. The amount of outstanding loans in Brazil rose 1.4% in the month to 3.9 trillion reais and over the last 12 months loan growth was 14.5%, the central bank said.

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