FED’S BOSTIC: HIGH-FREQUENCY DATA SHOW LEVELING OFF IN ECONOMY
NEW YORK (MaceNews)- Recent high-frequency economic data suggestthe recovery is slowing as virus infections rise, Atlanta Fed President Raphael Bostic said Tuesday. Bostic, in webinar remarks to the Tennessee Business Roundtable, said the economy is rebounding from its depths in the first part of the second quarter but “more recent economic data show the upward […]
BANK OF CANADA: BUSINESS, CONSUMER SENTIMENT PLUNGE ON COVID, OIL PRICE FALL
NEW YORK (MaceNews) – Canadian business and consumer sentiment dropped in response to the Covid-19 pandemic and the drop oil prices, the Bank of Canada reported Monday. The bank’s quarterly survey of businesses, conducted from mid-May to early-June, as government restrictions were starting to ease, found businesses in all regions and sectors “reported that weak […]
DATA PREVIEW: SERVICES SECTOR CONDITIONS HEADLINE LIGHT DATA WEEK AHEAD
By Kevin Kastner WASHINGTON (MaceNews) – After a very busy data week that finished off with a 4.80 million June payrolls gain and a decline in the unemployment rate to 11.1%, analysts and the markets can look forward to a three-day weekend and a very light data week ahead. Monday’s nonmanufacturing data for June starts […]
DATA FLASH: US JUNE PAYROLLS RISE BY 4.80 MLN, UNEMPLOYMENT RATE 11.1%
–Food Services, Retail Again Lead Gain; Hourly Earnings Down 1.2%–Initial Jobless Claims Fell by 55,000 to 1.427 Mln, Continuing Claims Rise–International Trade Gap Widened to $54.6 Billion By Kevin Kastner WASHINGTON (MaceNews) – The June employment report showed further, though measured, improvement, reflecting continued state reopenings. The sharp April payrolls decline the Labor Department reported […]
DATA FLASH: US MANUFACTURING MOVES BACK TO POSITIVE IN JUNE
–May Construction Spending Falls Sharply–June ADP Points to Further Job Recovery; Challenger Shows Layoffs Continue By Kevin Kastner WASHINGTON (MaceNews) – The June ISM index showed U.S. manufacturing sector activity improved further, in line with the regional and Markit data. Survey respondents in the ISM report noted a rebound in demand has kept factories busy. […]
DATA FLASH: US JUNE CONFIDENCE UP; COVID REBOUND COULD HIT JULY
By Kevin Kastner WASHINGTON (MaceNews) – The Conference Board’s U.S. consumer confidence index rose solidly to a reading of 98.1 in June from a downward revised 85.9 reading in May, but a resurgence of COVID-19 cases at the end of the month and the dwindling effects of the stimulus payments suggest another increase in July […]
EUROZONE ECONOMIC SENTIMENT ROSE BY RECORD AMOUNT IN JUNE
ZURICH (MaceNews) – Economic sentiment in the countries sharing the euro increased by a record amount in June, extending the turnaround which started in May, with employment expectations also increasing, the European Commission reported Monday. Economic sentiment improved to 75.7 in the euro area, rising 8.2 points, which is the largest monthly increase on record, […]
DATA PREVIEW: WILL EMPLOYMENT REPORT PROVIDE EARLY FIREWORKS?
By Kevin Kastner WASHINGTON (MaceNews) – Before the Fourth of July holiday, there are plenty of opportunities for the June U.S. data to create further buzz after a partial recovery in May. The employment report released Thursday – early because of the pending holiday – is undoubtedly the highlight of the week ahead of Friday’s […]
DATA FLASH: US INITIAL CLAIMS SLOW; DURABLE GOODS ORDERS SURGE
–Initial Claims -60,000 to 1.480 Mln; Pace of Decline Continues To Flatten–May Durable Goods New Orders Jump 15.8%; Shipments Up 4.4%–Q1 GDP, Real PCE Both Unrevised As Analysts Focus On Massive Q2 Decline––May Adv Trade Gap -$74.3 Bln, Wholesale Inventories -1.2%; Retail -6.1% By Kevin Kastner WASHINGTON (MaceNews) – The massive amount of data released simultaneously […]
GERMAN CONSUMER CONFIDENCE IMPROVES AS ECONOMY REOPENS: GFK
ZURICH (MaceNews) – German consumers appear more optimistic as economic stimulus and the opening of the economy are boosting expectations, Germany’s Gfk Institute reported Thursday. GfK projects that its measure of consumer confidence will be -9.6 in July, an improvement from a revised -18.6 (-18.9) in June, rising for a second consecutive month. However, GfK […]