GERMAN ECONOMIC SENTIMENT WANES IN JULY
ZURICH (MaceNews) – Economic sentiment in Germany declined moderately in July as economic expectations in the closely watched ZEW indicator fell 4.1 points from the previous month to 59.3. Despite the decline, the July reading is the second-highest since the 61.7 result in January 2014. Despite the decline in the outlook, the current situation, though […]
WHITE HOUSE WATCH COMMENTARY: AN AMERICAN METEMPSYCHOSIS?
By Denny Gulino WASHINGTON (MaceNews) – Some say Donald Trump has turned himself into a cultural anachronism. Some say his single-minded push to reopen schools is grotesque as the virus resurges. All the lies, or self deceptions or delusions – China is paying the tariffs; the virus spikes are because of all the testing; it […]
DATA PREVIEW: JUNE DATA SOLID, BUT COVID REBOUND LOOMS
By Kevin Kastner WASHINGTON (MaceNews) – The U.S. data for June have been generally positive, with a solid gain in nonfarm payrolls and the above-50 ISM readings for both the manufacturing and nonmanufacturing sectors. Of course, much of this was before several large states reported rebounds in their COVID-19 cases, so the silver cloud comes […]
DATA FLASH: US JUNE PPI A SURPRISE, DOWN 0.2% ON FOOD REVERSAL
–Prices Ex-Food/Energy -0.3%; Up 0.3% Excluding Trade Services as Well–Energy Prices Rise Further 7.7% on a 26.3% Jump in Gasoline Prices–Food Prices Plunge 5.2% After a 6.0% Jump in May By Kevin Kastner WASHINGTON (MaceNews) – U.S. business prices fell 0.2% in June, a fourth decline in the last five months. The June drop was […]
DATA FLASH: US INITIAL CLAIMS SLIP, BUT STUBBORNLY ABOVE 1 MILLION
—Initial Claims -99,000 to 1.314 Mln; Pace of Decline Continues to Flatten–-Wholesale Inventories -1.2% in May, Business Inventories Tracking -2.3% By Kevin Kastner WASHINGTON (MaceNews) – The pace of initial claims gains continues to astound, with COVID-19 cases surging in several states that are causing some restrictions to be put back into place. Initial filings fell […]
UK CHANCELLOR CONFIRMS WINDING DOWN OF JOB PROTECTION SCHEME
–Announces Tax Cut to Preserve Leisure Sector Employment By Laurie LairdLONDON (MaceNews) – The UK Treasury will end its job protection programme at the end of October, raising fears of a surge in unemployment as the government furlough scheme winds down beginning in August. “The furlough scheme cannot and should not go on forever … […]
FED’S DALY/BARKIN SEE HUGE PANDEMIC-CAUSED ECONOMIC CHALLENGES STILL TO COME
By Denny Gulino WASHINGTON (MaceNews) – The presidents of the Richmond and San Francisco Federal Reserve Banks Tuesday saw huge challenges ahead as government virus response programs ebb, landlords without rent payments pressure banks, displaced workers stay unemployed and customers get less enthusiastic about visits to bricks and mortar establishments as the pandemic hangs on. […]
BANK OF ENGLAND’S ANDY HALDANE HAILS UK ECONOMIC RECOVERY
— Growth Returned During the ‘Second Week of April’ By Laurie Laird LONDON (MaceNews) — The UK has enjoyed a robust economic rebound over the past several months, exceeding even the most optimistic forecasts, the Bank of England’s chief economist said Tuesday. Economic activity has recovered “sooner and faster” than the Bank of England expected, […]
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 […]