Economics News Results

  • 2Q GDP Revision Expected to Show Little Change -- 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 0830 Durable Goods Orders Jul +1.1% +1.9%* 1030 Dallas Fed Mfg Svy Aug 0 -6.3 Tuesday 0900 S&P/Case-Shiller 20- City Jun N/A +2.4% HPI Y/Y 1000 Consumer Confidence Aug 128.8 135.7 1000 Richmond Fed Mfg Svy Aug N/A -12 Thursday 0830 Jobless Claims Aug 24 215 K 209 K 0830 Real GDP 2 Q +2.0% +2.1%** 0830 GDP Prices 2 Q +2.4% +2.4%** 1000...

  • Forget July's slump in new-home sales, mortgage rates are reviving the housing market

    U.S. new-home sales up 4.3% vs. a year ago despite July dip. The numbers: Sales of new U.S. homes have zig-zagged up and down for months, but they appear to be creeping higher again overall with mortgage rates falling to multiyear lows. The government on Friday said new-home sales fell almost 13% in July to an annual rate of 635,000, but there's a huge caveat.

  • Fed can handle recession, Bullard says, in MarketWatch interview

    Louis Fed president is a proponent of more interest rate cuts. Louis Fed President James Bullard said Friday the central bank can handle a recession as it has more ammunition than it did three years ago to fight any downturn. "At least if it was an ordinary recession, I think there would be enough tools to handle that," Bullard said in an interview with MarketWatch.

  • IMF's Gopinath says U.S. monetary policy being accommodative and data driven

    International Monetary Fund chief economist Gita Gopinath said on Friday that U.S. monetary policy is being accommodative and data driven. "U.S. monetary policy is being accommodative and it is being data driven", Gopinath told CNBC in an interview when asked if U.S. monetary policy is "too tight".

  • German economy minister favours balanced budget -Der Spiegel

    German Economy Minister Peter Altmaier is still in favour of a balanced budget despite higher spending, weekly magazine Der Spiegel reported on Friday. "There is considerable room for growth-stimulating measures without the government having to take on additional debt," Altmaier, a confidant of Chancellor Angela Merkel, was quoted as saying.

  • COLUMN-Trump must choose between economy and trade war: Kemp

    * Chartbook: By John Kemp. The White House is becoming increasingly volatile and erratic in its pronouncements about the economy and trade as the internal contradictions between its policies become obvious.

  • Mexico posts largest current account surplus on record

    Mexico posted a second quarter current account surplus of $5.143 billion, the largest surplus since records began in 1980 and the first since the second quarter of 2010, central bank data showed on Friday, helped by a depressed currency and weak consumption. The second quarter current account surplus was equivalent to 1.6% percent of gross domestic product.

  • U.S. new home sales drop sharply, point to more housing weakness

    * U.S. new home sales fall 12.8% in July. * Drop is the steepest since July 2013. By Jason Lange. Sales of new U.S. single-family homes sank more than expected in July, a sign that the housing market continued in low gear despite lower mortgage rates and a strong labor market.

  • Oil Slides as Latest China Tariffs Reignite Demand Fears

    Oil prices fell Friday after China said it would impose tariffs on $75 billion worth of additional U.S. products including crude imports, the latest protectionist trade policy that could crimp fuel consumption. U.S. crude futures fell 2.3% to $54.07 a barrel on the New York Mercantile Exchange following the announcement, the newest salvo in the U.S.-China trade spat that has swung markets in recent months. Oil is about 18% below its April peak with analysts wary that softening...

  • Powell Says Fed Prepared to Provide Stimulus if a Slowdown Hits U.S. Economy

    JACKSON HOLE, Wyo.-- Federal Reserve Chairman Jerome Powell said the central bank was prepared to provide more stimulus if a global economic slowdown, aggravated in recent weeks by geopolitical events and trade policy uncertainty, hurts the U.S. economy. But he stopped short of signaling the start of a more aggressive easing campaign. Instead, the Fed chairman used a widely anticipated speech Friday to warn about the limits that monetary stimulus faced in comprehensively...

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