UK economy shrinks at start of feared long recession

UK economy shrinks at start of feared long recession

GDP in Q3 -0.2% q/q vs Reuters poll -0.5% Seven economic output -0.6% m/m vs poll -0.4% GDP in July and August revised up Economists still see UK going into recession Finance minister predicts “tough road ahead” LONDON, Nov 11 (Reuters) – Britain’s economy shrank in the three months to September at the start of … Read more

China’s trade unexpectedly shrinks as COVID curbs, global slowdown jolt demand

China's trade unexpectedly shrinks as COVID curbs, global slowdown jolt demand

China’s Oct exports, imports shrink unexpectedly Frail data further blow to struggling economy Global recession risks, COVID curbs in China darken outlook Analysts expect further weakness in exports and imports BEIJING, Nov 7 (Reuters) – China’s exports and imports unexpectedly contracted in October, the first simultaneous slump since May 2020, as a perfect storm of … Read more

US job growth seen smallest in nearly two years in October, unemployment rate up

US job growth seen smallest in nearly two years in October, unemployment rate up

Nonfarm payrolls forecast increasing 200,000 Unemployment rate seen rising to 3.6% from 3.5% Average hourly earnings expected to gain 0.3% WASHINGTON, Nov 4 (Reuters) – US employers likely hired the fewest workers in nearly two years in October and increased wages at a moderate pace, suggesting some loosening in labor market conditions, which would allow … Read more

US manufacturing slows modestly; excess inventories a major concern

US manufacturing slows modestly;  excess inventories a major concern

Manufacturing index dips to 52.8 in July from 53.0 in June New orders contracting, supplier deliveries improving Price increases for inputs slowing; inventories piling up WASHINGTON, Aug 1 (Reuters) – US manufacturing activity slowed less than expected in July and there were signs that supply constraints are easing, with a measure of prices paid for … Read more

GLOBAL ECONOMY Factories squeezed by higher prices, weak demand

GLOBAL ECONOMY Factories squeezed by higher prices, weak demand

Staff work inside a non woven filter fabric factory, where the fabric is used to make surgical face masks, in Taoyuan, Taiwan, March 30, 2020. REUTERS/Ann Wang/File Photo Register now for FREE unlimited access to Reuters.com Register WASHINGTON/LONDON, Aug 1 (Reuters) – Factories across the United States, Europe and Asia struggled for momentum in July … Read more

China’s economic wobbles worsen as factory, property woes mount

China's economic wobbles worsen as factory, property woes mount

Employees wearing face masks work on a car seat assembly line at Yanfeng Adient factory in Shanghai, China, as the country is hit by an outbreak of a new coronavirus, February 24, 2020. REUTERS/Aly Song/File Photo Register now for FREE unlimited access to Reuters.com Register Factory activity slows in July vs June – Caixin survey … Read more

China’s factory activity contracts unexpectedly in July as COVID flares up

China's factory activity contracts unexpectedly in July as COVID flares up

Employees work on the production line of vehicle components during a government-organized media tour to a factory of German engineering group Voith, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China July 21, 2022. REUTERS/Aly Song Register now for FREE unlimited access to Reuters.com Register China July official manufacturing PMI below forecast July official services … Read more

US teetering on brink of recession as GDP contracts in second quarter

US teetering on brink of recession as GDP contracts in second quarter

Second-quarter GDP decreases at 0.9% rate Inventories account for large decline in GDP Consumer spending slows; business investment contracts Weekly jobless claims fall 5,000 to 256,000 WASHINGTON, July 28 (Reuters) – The US economy unexpectedly contracted in the second quarter, with consumer spending growing at its slowest pace in two years and business spending declining, … Read more

Australian inflation speeds to 21-year high, peak still to come

Australian inflation speeds to 21-year high, peak still to come

Q2 CPI rises 1.8% q/q, 6.1% y/y just under forecasts Core inflation up record 4.9% y/y vs RBA target of 2-3% RBA seen hiking 50bps next week, less chance of 75bps SYDNEY, July 27 (Reuters) – Australian inflation sped to a 21-year high last quarter and is likely to accelerate even further as food and … Read more