Economic Indicators News

Economic Indicators News

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7 Jul

Don't call it a fee waiver: Vanguard shifts money fund expenses

Don't Call It A Fee Waiver: Vanguard Shifts Money Fund Expenses

By Ross Kerber BOSTON Vanguard Group Inc reallocated expenses on a $1.9 billion municipal money market fund, a spokesman said, a move akin to the fee waivers that rivals have granted. Because of Vanguard's client-owned structure it cannot simply waive fees and cover them, the industry's traditional method of protecting investors from low interest

7 Jul

U.S. hiring vaults to record high in May; new COVID-19 cases set to limit gains

U.S. Hiring Vaults To Record High In May; New COVID-19 Cases Set To Limit Gains

. People wait outside Kentucky Career Center in Frankfort By Lucia Mutikani WASHINGTON U.S. hiring surged to a record high in May and layoffs fell as businesses reopened, but the improvement in the labor market is likely to be blunted by a resurgence in COVID-19 cases that has forced some enterprises to shut down again. The report from the Labor Departmen

7 Jul

Canada's Ivey PMI shows purchasing activity expanding for first time in four months

Canada's Ivey PMI Shows Purchasing Activity Expanding For First Time In Four Months

TORONTO Canadian purchasing activity expanded in June for the first time in four months, according to Ivey Purchasing Managers Index (PMI) data released on Tuesday, providing another sign of economic recovery from the coronavirus crisis. The seasonally adjusted PMI rose to 58.2 from 39.1 in May. It was the first time since February that the index

7 Jul

U.S. hiring races to record high in May, layoffs abate

U.S. Hiring Races To Record High In May, Layoffs Abate

. Hundreds of people line up outside a Kentucky Career Center hoping to find assistance with their unemployment claim in Frankfort WASHINGTON U.S. hiring surged to a record high in May and layoffs declined as businesses reopened, but the signs of improvement in the labor market have been overshadowed by a resurgence in COVID-19 cases that has

7 Jul

U.S. Home Prices Seen Falling 6.6% on Covid-19 Economic Damage

U.S. Home Prices Seen Falling 6.6% On Covid-19 Economic Damage

. Houses stand in this aerial photograph taken near Mountain View, California, U.S., on Wednesday, Oct. 23, 2019. Facebook Inc. is following other tech titans like Microsoft Corp. and Google, pledging to use its deep pockets to ease the affordable housing shortage in West Coast cities. The social media giant said that it would commit $1 billion over the next decade to address the crisis i

7 Jul

Egypt's foreign reserves recover slightly to $38.2 billion

Egypt's Foreign Reserves Recover Slightly To $38.2 Billion

. CAIRO Egypt's net foreign reserves recovered some ground lost during the coronavirus outbreak, rising to $38.2 billion in June from $36 billion in May, the central bank said on Tuesday.Foreign reserves have dropped since March from a high of more than $45 billion, as investors pulled cash from emerging markets and Egypt's tourism industry, a key source

7 Jul

Japan's household spending slumps by record as curbs hit travel, dining out

Japan's Household Spending Slumps By Record As Curbs Hit Travel, Dining Out

. A waitress wearing a protective mask cleans a table at Toshirhin restaurant in Tokyo By Daniel Leussink and Yoshifumi Takemoto TOKYO Japan's household spending fell at the fastest pace on record in May, as consumers heeded authorities' calls to stay home to contain the coronavirus pandemic, pushing the world's third-largest economy deeper in

7 Jul

Germany agrees measures to make financing of exports easier

Germany Agrees Measures To Make Financing Of Exports Easier

. Aerial view of containers at a loading terminal in the port of Hamburg BERLIN Germany's Economy Ministry said on Tuesday the government has decided on a package of measures to make the financing of export business easier as it seeks to revive industry's prospects due to the coronavirus pandemic. The package includes reduced fees for Hermes g

7 Jul

German industrial output rebounds, firms see brighter outlook

German Industrial Output Rebounds, Firms See Brighter Outlook

. VW re-starts Europe's largest car factory after coronavirus shutdown BERLIN Germany's industrial production rebounded in May, rising by 7.8% on the month after falling by a revised 17.5% in April, the Statistics Office said on Tuesday, in the latest sign that Europe's largest economy is recovering after lockdown. The bounce-back, more modest

7 Jul

Euro zone set for deeper recession, less steep rebound: Commission

Euro Zone Set For Deeper Recession, Less Steep Rebound: Commission

. Outbreak of the coronavirus disease (COVID-19) in Frankfurt By Philip Blenkinsop BRUSSELS The euro zone economy will drop deeper into recession this year and rebound less steeply in 2021 than previously thought, the European Commission forecast on Tuesday, with France, Italy and Spain struggling the most due to the COVID-19 pandemic. The downbeat assess

7 Jul

UK house prices fall for longest period since 2010, Halifax says

UK House Prices Fall For Longest Period Since 2010, Halifax Says

. An estate agent property advertisment is seen painted on a wall in London By David Milliken LONDON British house prices fell for a fourth month in a row in June as COVID-19 restrictions continued to depress the market, the longest run of monthly declines since 2010, mortgage lender Halifax said on Tuesday. Halifax said average house prices d

7 Jul

Australia's central bank holds rate at record low, keeps wary eye on recovery

Australia's Central Bank Holds Rate At Record Low, Keeps Wary Eye On Recovery

. Two women walk next to the Reserve Bank of Australia headquarters in central Sydney By Swati Pandey SYDNEY Australia's central bank held its cash rate at an all-time low on Tuesday, in a widely expected decision, and said it will help buttress the economic recovery by maintaining its accommodative approach for "as long as it is required." T

7 Jul

German industrial output rebounds in sign of post-lockdown recovery

German Industrial Output Rebounds In Sign Of Post-lockdown Recovery

. VW re-starts Europe's largest car factory after coronavirus shutdown BERLIN Germany's industrial production rebounded in May, rising by 7.8% on the month after falling by a revised 17.5% in April, the Statistics Office said on Tuesday, in the latest sign that Europe's largest economy is recovering after lockdown. The bounce-back, more modest

7 Jul

German industrial output rebounds in May but not as much as forecast

German Industrial Output Rebounds In May But Not As Much As Forecast

. VW re-starts Europe's largest car factory after coronavirus shutdown BERLIN Germany's industrial production rebounded in May, rising by 7.8% on the month after falling by a revised 17.5% in April, the Statistics Office said on Tuesday, in the latest sign that Europe's largest economy is recovering after lockdown. The bounce-back, more modest

7 Jul

Italian cabinet approves 'mother of all reforms' to slash red tape

Italian Cabinet Approves 'mother Of All Reforms' To Slash Red Tape

. Italian Prime Minister Giuseppe Conte wearing a protective face mask, leaves the Senate as the spread of the coronavirus disease (COVID-19) continues, in Rome By Gavin Jones and Giuseppe Fonte ROME The Italian government approved a package of measures on Tuesday aimed at cutting the complicated red tape that has long been blamed for crimping growth in t

7 Jul

Investors in Russian bonds relaxed about extended Putin rule

Investors In Russian Bonds Relaxed About Extended Putin Rule

By Andrey Ostroukh and Karin Strohecker MOSCOW/LONDON The prospect of President Vladimir Putin staying in the Kremlin until 2036 does not seem to be deterring buyers of Russia's high-yielding sovereign bonds as investors focus on economic fundamentals and political stability rather the risk of policy stagnation. Investors in Russia are no strange

7 Jul

Japan government says coincident indicator index suggests economy is worsening

Japan Government Says Coincident Indicator Index Suggests Economy Is Worsening

. An employee wearing a protective face mask and face guard works on the automobile assembly line during the outbreak of the coronavirus disease (COVID-19) at the factory of Mitsubishi Fuso Truck and Bus Corp. in Kawasaki TOKYO Japan's coincident indicator index fell in May and the government kept its view on the index, signalling the coronavi

7 Jul

Campos Neto says Brazil's economy recovering quickly

Campos Neto Says Brazil's Economy Recovering Quickly

BRASILIA Brazilian Central Bank President Roberto Campos Neto said on Monday that the nation's economy appears to be recovering quickly from the downturn caused by the novel coronavirus, a sentiment he has expressed repeatedly in recent days. "We have, for example, income, traffic and energy consumption data," he said in an interview with Record

7 Jul

Japan May real wages fall at quickest pace in nearly five years

Japan May Real Wages Fall At Quickest Pace In Nearly Five Years

. Worker walks in a factory at the Keihin industrial zone in Kawasaki TOKYO Japan's May inflation-adjusted real wages dropped at the fastest pace in nearly five years, government data showed on Tuesday, in a sign of labour market stress as the economy takes a heavy blow from the novel coronavirus pandemic. The world's third-largest economy is bracing for

6 Jul

U.S. pandemic aid program saved 51.1 million jobs, but wealthy and connected also benefited

U.S. Pandemic Aid Program Saved 51.1 Million Jobs, But Wealthy And Connected Also Benefited

. The spread of the coronavirus disease (COVID-19) in New York By Michelle Price, David Lawder and Lawrence Delevingne WASHINGTON Some 51.1 million jobs were protected by a high-profile pandemic aid program, the Trump administration said on Monday as it revealed how a firehose of $521.4 billion in taxpayer cash washed across the landscape of America's sma

6 Jul

Moody's signals Canadian provinces can avoid post-COVID-19 downgrades, analysts say

Moody's Signals Canadian Provinces Can Avoid Post-COVID-19 Downgrades, Analysts Say

By Fergal Smith TORONTO Moody's (NYSE:MCO) Investors Service is expecting Canadian provinces to shift rapidly to stabilizing their rising debt burdens once economic growth resumes, which analysts said could be a signal to provinces on how they can avoid downgrades. The ratings agency said on Monday it expected Canada's economy to contract by 7% i

6 Jul

French central bank sees full rebound in GDP in wake of virus lockdown

French Central Bank Sees Full Rebound In GDP In Wake Of Virus Lockdown

PARIS The French economy is on course to bounce back this quarter as much as it probably slumped in the previous three months, the central bank estimated on Monday, saying it might need to revise up its 2020 forecast. The euro zone's second-biggest economy could expand by an unprecedented 14% in the third quarter if activity remains at least at c

6 Jul

U.S. pandemic aid program saved 51.1 million jobs, but wealthy and connected also got loans

U.S. Pandemic Aid Program Saved 51.1 Million Jobs, But Wealthy And Connected Also Got Loans

. The spread of the coronavirus disease (COVID-19) in New York By Michelle Price, David Lawder and Lawrence Delevingne WASHINGTON Some 51.1 million jobs were protected by a high-profile pandemic aid program, the Trump administration said on Monday as it revealed how a firehose of $521.4 billion in taxpayer cash washed across the landscape of America's sma

6 Jul

Moody's sees Canadian provincial debt loads stabilizing once growth resumes

Moody's Sees Canadian Provincial Debt Loads Stabilizing Once Growth Resumes

TORONTO Moody's (NYSE:MCO) Investors Service is expecting Canadian provinces to shift rapidly to stabilizing the additional debt burdens they are taking on due to the coronavirus crisis once economic growth resumes. The ratings agency expects Canada's economy to contract by 7% in 2020 and all 10 provinces to post "material deficits" in the fiscal