US weekly jobless claims drop to nine-month low; productivity gains speed

Weekly jobless claims drop 3,000 to 183,000 Continuing claims decrease 11,000 to 1,655 million Productivity accelerates at a 3.0% rate in the fourth quarter Unit labor costs grow at 1.1% pace WASHINGTON, Feb 2 (Reuters) – The number of Americans filing new claims for unemployment benefits dropped to a nine-month low last week as the … Read more

India ramps up spending in last budget ahead of election

NEW DELHI, Feb 1 (Reuters) – India’s government on Wednesday unveiled a $550 billion budget for the next fiscal year that starts on April 1, with a plan for record capital spending while reining in the fiscal deficit. Prime Minister Narendra Modi’s party, which faces elections in key states this year and a national vote … Read more

US labor cost growth smallest in a year; labor persistently tight

The employment cost index rises 1.0% in the fourth quarter Wages, salaries increase 1.0%; up 5.1% year-on-year Consumer confidence index drops to 107.1 in January House price inflation slows further in November WASHINGTON, Jan 31 (Reuters) – US labor costs increased at their slowest pace in a year in the fourth quarter as wage growth … Read more

Three years on, Britain still waits for the Brexit dividend

UK lags behind peers for growth, investment and trade Many economists say Brexit contributes to underperformance Polls show Britons increasingly regret leaving the EU Pro-Brexit economist Lyons: UK problems have long roots LONDON, Jan 31 (Reuters) – Three years after its departure from the European Union, Britain is yet to benefit from the Brexit dividend … Read more

Emerging markets growth slowdown bottomed out in 2022, but risks remain -IMF

NEW YORK, Jan 30 (Reuters) – The International Monetary Fund on Monday raised its output growth estimate on emerging markets for this year, with projections now showing the economic slowdown in the region may have bottomed out in 2022, on the back of China reopening , a resilient India and unexpected growth in Russia. On … Read more

The German economy unexpectedly shrinks in Q4, reviving the specter of recession

Q4 GDP at -0.2% Q/Q vs forecast of 0.0% Decline due mainly to falling private consumption Economists reckon mild recession is likely BERLIN, Jan 30 (Reuters) – The German economy unexpectedly shrank in the fourth quarter, data showed on Monday, a sign that Europe’s largest economy may be entering a much-predicted recession, though likely a … Read more

Consumer inflation in Japan’s capital hits near 42-year high, keeps BOJ under pressure

Jan Tokyo core CPI rises 4.3% yr/yr vs f’cast +4.2% Tokyo core-core CPI up 3.0% yr/yr in January Data highlights mounting inflationary pressure Govt fuel subsidies to moderate price gains from February TOKYO, Jan 27 (Reuters) – Core consumer prices in Japan’s capital, a leading indicator of nationwide trends, rose 4.3% in January from a … Read more

Strong US economic growth expected in fourth quarter, outlook darkening

Fourth-quarter GDP forecast to increase at a 2.6% rate Strong consumer spending seen; other sectors to contribute Weekly jobless claims expected to rise moderately WASHINGTON, Jan 26 (Reuters) – The US economy likely maintained a strong pace of growth in the fourth quarter as consumers boosted spending on goods, but momentum appears to have slowed … Read more

Bank of Canada hikes rates, becomes first major central bank to signal pause

OTTAWA, Jan 25 (Reuters) – The Bank of Canada on Wednesday hiked its key interest rate to 4.5%, the highest level in 15 years, and became the first major central bank fighting global inflation to say it would likely hold off on further increases for now. The 25-basis-point rise matched analysts’ expectations. The bank has … Read more

Mexico early-January prices exceed market forecasts, rate hikes expected

MEXICO CITY, Jan 24 (Reuters) – Mexico’s headline inflation accelerated and exceeded expectations in early January, data from the national statistics agency showed on Tuesday, marking the first monthly pickup since September as markets brace for fresh interest rate hikes ahead. Annual headline inflation in the first half of the month reached 7.94%, beating both … Read more