Chinese Stocks Wipe Out 2023 Gains as Headwinds Intensify
Bloomberg May 23, 2023 CSI 300 extends decline as developers’ debt woes resurface Geopolitics, yuan weakness, and uneven recovery are concerns China’s benchmark stock index erased all its gains for the year as a weaker yuan and developers’ debt woes added to persistent worries over growth and geopolitics. The CSI 300 Index closed down 1.4% Wednesday, with […]
US Bank Lending Rises for Fourth Week, Led by Small Institutions
Alex Tanzi Bloomberg May 5, 2023 US bank lending increased for a fourth straight week, suggesting credit conditions remain relatively stable despite elevated concerns about regional lenders. Commercial bank lending rose $41.6 billion in the week ended April 26 after increasing $12.4 billion the prior week, according to seasonally adjusted data from the Federal Reserve out Friday. […]
Strong US consumer spending seen driving economy in first quarter
Lucia Mitikani Bloomberg April 27, 2023 WASHINGTON (Reuters) – U.S. economic growth slowed more than expected in the first quarter as an acceleration in consumer spending was offset by businesses cutting back on inventory investment in anticipation of weaker demand this year amid higher borrowing costs. The Commerce Department’s advance first-quarter gross domestic product report […]
US Business Activity Unexpectedly Jumps, Risking More Inflation
Augusta Saraiva Bloomberg April 21, 2023 S&P Global composite measure rose to 11-month high in April Firms increased prices at fastest pace in seven months US business activity unexpectedly climbed this month to nearly a one-year high, bolstered by stronger services and manufacturing that threatens to reignite inflationary pressures. The S&P Global flash April composite purchasing managers […]
China’s Consumer-Driven Growth Gives Boost to Global Economy
Bloomberg News April 18, 2023 GDP expands 4.5% in first quarter, fastest pace in a year Citigroup, SocGen upgrade full-year growth forecasts China’s economy grew at the fastest pace in a year in the first quarter, putting Beijing on track to meet its growth goal for the year without adding major stimulus, while also helping […]
US Paychecks Are Outpacing Inflation, Giving Fed Fodder for Hike
Molly Smith Bloomberg April 18, 2023 Median earnings ran above consumer prices in first quarter Strong wage gains may tilt Fed toward another rate hike in May US workers are starting to see pay gains run faster than inflation, amplifying their purchasing power and giving the Federal Reserve reason to raise interest rates again next […]
US Producer Prices Unexpectedly Fall, Signaling Easing Pressures
Reade Pickert BloombergMarch 15, 2023 US producer prices unexpectedly declined in February, pointing to an easing of cost pressures in corners of an economy still battling the highest inflation in a generation. The producer price index for final demand fell 0.1% from the prior month and increased 4.6% from a year earlier, according to data out Wednesday […]
US services sector grows steadily; prices remain elevated
Lucia Mutikani ReutersMarch 3, 2023 Services sector PMI dips to 55.1 in February from 55.2 New orders index rises to highest level since late 2021 Prices paid measure falls to two year-low, but still high WASHINGTON, March 3 (Reuters) – The U.S. services sector grew at a steady clip in February, with new orders and […]
US Retail Sales Jump by Most in Nearly Two Years in Broad Gain
Augusta Saraiva BloombergFebruary 15, 2023 Value of purchases increased by 3% in January, above estimates Gain was broad based, led by autos, restaurants and furniture US retail sales rose in January by the most in nearly two years, signaling robust consumer demand that could bolster the Federal Reserve’s resolve to keep raising interest rates in […]
Jobs Galore Give US Consumers Firepower to Fight Off Recession
Reade Pickert and Olivia Rockerman BloombergFebruary 4, 2023 Early 2023 numbers on jobs, services show resilient consumers Businesses from GM to United Airlines point to strong demand Don’t count the US consumer out just yet. Two sets of data out Friday raised hopes that the pullback in household spending at the end of last year […]