ISM: US April Service Sector Activity in Expansion Territory for 4th Straight Month on Slight Uptick in New Orders
–ISM’s Nieves: Employment Remains a Mixed Bag; Some Cutting Jobs, Others Struggling to Find Workers –Nieves: Firms Mostly Positive but Preparing for Headwinds; Expect Clearer Outlook in May 8 Release of Semi-Annual Survey –Nieves: Business Activity May Rise in May After Slowing in April By Max Sato (MaceNews) – Business activity in the U.S. […]
Japan’s Economy Shows Some Resilience in March Data Amid Slowing Global Growth; Inflation Hurts Purchasing Power
–Industrial Output Posts 2nd Straight Rise on Month, Prompting METI to Upgrade its View –Retail Sales Up on Recovery at Department Stores, Demand for Autos –Payroll Growth Continues but Unemployment Rate Rises Unexpectedly –April Tokyo CPI, Leading Indicator of National Data, Accelerates at Fast Pace By Max Sato (MaceNews) – Japan’s manufacturing sector is weathering […]
White House and Other Schedules for Wednesday, April 19
WASHINGTON (MaceNews) – The following are Wednesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FORWEDNESDAY, APRIL 19, 2023In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. In the afternoon, […]
US March ISM Manufacturing in Contraction for 5th Straight Month on Uncertainty Over Demand Pickup Timing
–ISM’s Fiore Downplays Manufacturing Index Drop to 46.3, Saying, ‘We’ve Only Lost 3 to 4 Points in Past 5 to 6 Months’ –Fiore: Manufacturing Index Now Seems to Be in Range of 46 to 49, Probably in Q2, Too, Down from Earlier Range of 48 to 52 –Fiore: Demand Pickup Expected for July, August May […]
<strong>BOJ Keeps Easing Stance to Pursue Stable 2% Inflation Target After Nearly a Decade of Flooding Markets with Cash</strong>
–March Meeting Last Scheduled One for Governor Kuroda Before His 2nd 5-Year Term Ends on April 8 –Kuroda’s 2 Deputies Will Also Retire at End of Their 5-Year Terms on March 19 –Incoming Governor, Ex-BOJ Board Member Kazuo Ueda Has Told Diet Current Easing Stance ‘Appropriate’ By Max Sato (MaceNews) – The Bank of Japan […]
<strong>Japan February Producer Inflation Eases Further to 8.2% from 9.5% on Faster Drops in Fuels, Lumber Prices Amid Slower Global Growth </strong>
–December’s 10.5% Y/Y Rise Remains Highest in 42 Years By Max Sato (MaceNews) – Producer inflation in Japan continued to ease in February as the government is trying to cap sharp increases in energy costs for both households and businesses while fuel and lumber prices fell at a faster pace amid slowing global demand, data […]
Fed’s Beige Book Survey Sees Positives and Negatives Amid ‘Slightly’ Increased Economic Activity
WASHINGTON (MaceNews) – The Federal Reserve’s Beige Book survey of economic activity coast to coast will tell the next Federal Open Market Committee meeting later this month that economic activity “increased slightly” despite widespread but somewhat moderated inflation pressures. The Beige Book responses, assembled by the New York Fed bank Wednesday, suggested consumer spending was […]
<strong>Japan January Producer Inflation Eases to Below 10% as Fuels, Lumber Prices Drop, Firmer Yen Lowers Import Costs</strong>
–Upwardly Revised +10.5% Y/Y in December 2022 Now 42-Year High By Max Sato (MaceNews) – Producer inflation in Japan eased in January as energy and commodity markets turned softer on slowing global demand and the recent rebound in the yen helped lower import costs, but the annual rate just under 10% indicates firms are still […]
<strong>White House and Other Schedules for Wednesday, Feb 8</strong>
WASHINGTON (MaceNews) – The following are Wednesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data and Federal Reserve events. DAILY GUIDANCE AND PRESS SCHEDULE FORWEDNESDAY, FEBRUARY 8, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. After, the […]
<strong>Bank of Canada Q4 Survey: Business Sentiment Dips for 4th Straight Quarter on Rising Interest Rates</strong>
–Firms Continue to See Inflation Above BOC’s 2% Target in Short Term –In 5 years, Firms Expect Inflation to be Within BOC’s 1-3% Target Range –Most Consumers Expect Mild to Moderate Recession within 12 Months –More Consumers Than Before Pandemic Anticipate Deflation in 5 Years as Supply Bottlenecks Ease By Max Sato (MaceNews) – Sentiment […]