Preview: Japan Q2 GDP to Post Modest Rebound After Slumping in Q1 but Consumption Remains Sluggish amid High Costs
By Max Sato (MaceNews) – Japan’s gross domestic product for the April-June quarter is forecast to post a modest rebound after suffering its first contraction in two quarters in January-March, up 0.6% on quarter, or an annualized 2.3%, as consumption and business investment picked up from the drag of suspended output at Toyota group factories […]
ISM: US Services Sector Back in Growth in July After Unexpected Slip Back into Contraction in June; April-July Average Moderates to Early 2020 Pandemic Slump
–ISM Services Index at 51.4 Vs. 48.8 in June Vs. Median Forecast 51.0–Business Activity, New Orders, Employment All Rebound–Prices Paid Index Remains Elevated at 57 but Has Eased from Above 70, 80 in 2021 and Parts of 2022 By Max Sato (MaceNews) – The U.S. services sector rebounded largely as expected In July, backed by […]
Ex-BOJ’s Momma Sees BOJ Cautious About Rate Hike Timing amid Slow Services Price Rise; Not in Position to Act on Weak Yen
–Momma Expects BOJ Rate Hikes in September, January but Warns of Economic Uncertainty–Momma Estimates BOJ’s Own Measure of Underlying Inflation at 1.5%, Still Below 2% Target–Momma: Central Banks Alone Cannot Anchor Inflation; Need Fiscal, Tax Policy Backup for Wealth Redistribution By Max Sato TOKYO (MaceNews) – The Bank of Japan will remain cautious about following […]
ISM: US Services Sector Unexpectedly Slips Back into Contraction; Key Index Hits Lowest Since Early Phase of Pandemic Slump
US service business contracts in June
ISM: US Services Sector Swings Back into Growth in May from April’s Brief Contraction but More Firms Concerned About High Interest Rates
US service sector business rebounds
Japan Government Keeps Its View on Economic Recovery, Downplaying Q1 GDP Slump as Mainly Caused by Temporary Vehicle Output Suspension
Japan government keeps view on economy
ISM Semiannual Survey: US Economy to Expand Softly in 2024 amid Expected Lower Revenue Growth, Slowing Spending on Capacity
US purchasing managers see slow expansion
ISM: US Services Sector Unexpectedly Contracts in April After 15 Months of Growth, Hit by Cooling Demand, Mixed Employment, Elevated Costs
US service sector contracts
Fed’s Beige Book Sees Slight, Soft Expansion Lately But Cautious Optimism
WASHINGTON (MaceNews) – The Federal Reserve’s Beige Book survey of national economic activity released Wednesday found some expansion but seemingly less than in some recent government statistics while there remained sustained cautious optimism. The survey, assembled by the Fed’s Boston bank for review in the April 30-31 Federal Open Market Committee meeting, said 10 of […]
White House and Other Schedules for Wednesday, April 3
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 FOR WEDNESDAY, APRIL 3, 2024 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. After, the […]