US Services Gauge Rises to Four-Month High on Pickup in Demand
Tuesday, September 6, 2022 10:00 AM Source: Bloomberg By Reade Pickert The US service sector expanded in August at the fastest pace in four months amid a pickup in business activity and new orders, while price pressures continued to ease. The Institute for Supply Management’s services index edged up to 56.9 from 56.7, data showed Tuesday. The […]
Apple’s Car Is Beloved Before It Even Exists
Friday, September 2, 2022 05:15 AM Source: Bloomberg by David Welch If semiconductor shortages, recession risks and the once-a-century shift in propulsion weren’t enough to keep auto executives up at night, here’s one more sleep disruptor: Consumers are keen to buy an Apple car before one even exists. Strategic Vision just released the results of an annual study that this […]
Apple overtakes android to take overtake 50% share of phones used in the US.
Source: Financial Times by Patrick McGee Apple has overtaken Android devices to account for more than half of smartphones used in the US, giving the iPhone maker an edge over its rival as it pushes into sectors including finance and healthcare. The 50 per cent landmark — the iPhone’s highest share since it launched in […]
Wharton professor Jeremy Siegel says most inflation data is coming in below expectations and hawkish Fed is out of step with economic reality
Source: Insider, September 2, 2022 Inflation is improving and the Fed’s hawkish view is at odds with the economy, Jeremy Siegel said. He noted that 26 of 27 inflation indicators have been below expectations in the last month. It could mean the Fed won’t have to raise rates as much as many observers are expecting. […]
The Bottom 50% of Americans Are Building Wealth Even as Inflation Bites
Monday, August 29, 2022 10:40 AM Source: Bloomberg by Paulina Cachero In an eight-minute speech last week that sent stock markets tumbling, Federal Reserve Chair Jerome Powell echoed what he’s said before about the importance of containing surging consumer prices: “The burdens of high inflation fall heaviest on those who are least able to bear them.” Yet data […]
US Companies Added 132,000 Jobs in August, New ADP Data Show
Wednesday, August 31, 2022 05:25 AM Source: Bloomberg by Reade Pickert US companies increased headcount at a relatively sluggish pace in August, according to a revamped private report that suggests hiring is downshifting in an economy buffeted by high inflation and rising interest rates. Businesses’ payrolls rose 132,000 this month after a nearly 270,000 gain in […]
US Consumer Confidence Advances to Highest Level Since May (1)
Tuesday, August 30, 2022 07:08 AM Source: Bloomberg By Olivia Rockeman US consumer confidence rose by more than forecast in August to the highest since May, suggesting that Americans are growing more optimistic about the economy amid falling gas prices. The Conference Board’s index increased to 103.2 from a downwardly revised 95.3 reading in July, the first […]
U.S. labor market defies interest rate hikes as job openings rise high in July
August 30, 202211:31 AM PDT Source: Reuters by Lucia Mutikani U.S. job openings increased in July and data for the prior month was revised sharply higher, pointing to persistently strong demand for labor that is giving the Federal Reserve cover to maintain its aggressive interest rate increases. The Labor Department’s Job Openings and Labor Turnover […]
North American companies send in the robots, even as productivity slumps
August 29, 20224:09 AM PDT Reuters by By Timothy Aeppel North American companies snapped up a record number of robots in the first half of this year as they struggled to keep factories and warehouses humming in the face of an extremely tight labor market and soaring compensation costs. Companies ordered a record 12,305 machines in the second […]
‘Inflation Fever’ Is Finally Breaking — But Central Banks Won’t Stop Hiking Rates
Sunday, August 28, 2022 02:30 PM Source: Bloomberg by Rich Miller and Enda Curran Global inflation is finally coming off the boil, even if it’s set to remain far too hot for the liking of the world’s central bankers. As economic growth slows, prices for key raw materials — from oil to copper and wheat — […]