IMF WEO UPDATE: GLOBAL GROWTH REMAINS SUBDUED
–Trade Tensions, Brexit Trim Tenth From Global Growth to 3.2% This Year –Growth Projections for 2020 ‘Is Precarious’ –Risks ‘Mainly to the Downsides –Chides US for Using Tariffs Vs Bilateral Trade Balances WASHINGTON (MaceNews) – The International Monetary Fund’s mid-year update to its World Economic Outlook Tuesday saw only extremely modest downgrades in growth projections, […]
US JUNE BUDGET DEFICIT -$8 BLN; AFTER ADJUSTMENT, -$55 BLN
–Fiscal Year to Date Deficit -$747 Bln; Outlays/Receipts Records –No New Guidance on Debt Limit X-Date; Still Late Summer WASHINGTON (MaceNews) – The June U.S. budget deficit was only $8 billion – until adjustment for shifted benefit payments that boosted it to $55 billion, on the way to what the White House expects will be […]
FED’S POWELL HINTS AN INSURANCE RATE CUT; MUCH DATA YET TO COME
–‘Committed to Using Our Tools’ to Keep Expansion Going By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chairman Jerome Powell came to Capitol Hill Wednesday to emphasize those cross currents of uncertainty still “weigh on the economy” and while never uttering the words “insurance” or “rate cut,” he repeated how important he feels it is […]
PACE OF CANADIAN HIRING SLOWS IN JUNE
By Gordon Isfeld OTTAWA (MaceNews) – Canada’s economy continued to churn out jobs in June, although at a weaker pace than most previous months, while the unemployment rate edged up to 5.5% as more people were looking for work, Statistics Canada said Friday. The jobless rate had been lower in May, at 5.4%, but that followed […]
US JUNE PAYROLLS +224K, CONFOUNDING FORECASTERS AND IMPERILING RATE CUT
By Denny Gulino WASHINGTON (MaceNews) – The carefully wrought July rate-cut scenario is now challenged by the blockbuster 224,000 surprise payrolls total for June, with Friday’s report pitting economic pessimists against prospects for renewed strength for the longest U.S expansion in history. Many forecasters who were confounded by a return to 200,000 plus payrolls growth […]
FED’S MESTER: U.S. Q2 SLOWDOWN NOT SUFFICIENT TO TRIGGER RATE CUT
By Laurie Laird LONDON (MaceNews) – While U.S. growth appears to have weakened over the second quarter, the current slowdown is insufficient to trigger a reduction in interest rates, according to Cleveland Federal Reserve President Loretta Mester. “Given the current level of the funds rate and my current baseline outlook,” interest rates represent an “appropriate […]
CANADA’S PACE OF INFLATION INCREASES IN MAY
By Gordon Isfeld OTTAWA (MaceNews) – Prices for Canadian goods surged in May, with the overall cost of consumer items jumping by 2.4% annualized- up from 2.0% in April – and marking the biggest year-over-year increase since October of last year, Statistics Canada said Wednesday. The gains in consumer costs were led by food items, which […]
FISCAL YTD US BUDGET DEFICIT $739 BLN, +39% VS FY 2018
WASHINGTON (MaceNews) – The U.S budget deficit in May of $207.8 billion at first glance is a record for any May and on second glance, after figuring in $55 billion in benefit payments shifted into the month because June 1 was a Saturday, it becomes a less scary$159 billion. The Treasury Department reported Wednesday that […]
US MAY CPI QUIESCENT AT +0.1%; SHELTER DECELERATES
WASHINGTON (MaceNews) – May’s U.S. CPI report Wednesday had no surprises, with an as-expected 0.1% increase both overall – for a 1.8% over-the-year consumer inflation rate – and for the core rate, with a deceleration in the category with the single biggest weighting, shelter. The annualized rate for core items, other than food and energy, […]
CANADA JOB GROWTH SLOWS IN MAY; UNEMPLOYMENT FALLS
By Gordon Isfeld OTTAWA (MaceNews) – The Canadian economy continued to churn out jobs in May, adding 27,700 positions, but that was at a weaker pace than the previous month, as the number of people looking for work declined. The jobless rate declined 0.3 percentage points to 5.4 per cent in May as fewer people […]