Economic Indicators News

. An empty restaurant is seen in Manhattan borough following the outbreak of coronavirus disease (COVID-19) in New York City By Lucia Mutikani WASHINGTON The number of Americans filing claims for unemployment benefits last week shot to a record high for a second week in a rowtopping 6 millionas more jurisdictions enforced stay-at-home me

. Line workers spot weld parts of the frame on the flex line at Nissan Motor Co's automobile manufacturing plant in Smyrna Tennessee WASHINGTON New orders for U.S.-made goods were unexpectedly flat in February, and could remain weak as a global coronavirus outbreak strains supply chains and undercuts the manufacturing sector. The Commerce Depa

By Kate Duguid NEW YORK Pacific Investment Management Co (PIMCO), one of the world's largest investment firms, told clients on Thursday the coronavirus outbreak is likely to cause a short and severe recession, and that the risk of a slow recovery or a relapse will keep its investment strategy defensive for the time being. The global economy is l

By Lucia Mutikani WASHINGTON The U.S. trade deficit dropped to near a 3-1/2-year low in February as the coronavirus pandemic pushed imports from China to their lowest level since 2009. The Commerce Department said on Thursday the trade deficit fell 12.2% to $39.9 billion, the lowest level since September 2016. The percentage decline was the large

. Super post-Panamex cranes stand at the Port of Baltimore. Photographer: Andrew Harrer/ -- The U.S. trade deficit narrowed for a second straight month in February as imports and exports declined ahead of the hit to global commerce from the expanding pandemic.The overall U.S. deficit in goods and services declined to $39.9 billion from a revised

. By Noreen The number of Americans applying for initial unemployment benefits surged to a new record 6.65 million last week, the U.S. Labor Department said on Thursday, as the full impact of the fallout from the coronavirus pandemic on the labor market became apparent.The increase dwarfed the prior week’s figure of 3.28 million and eclipsed the previous record

. Pedestrians are reflected in the windows of a closed restaurant in the South Beach neighborhood of Miami Beach on March 20. Photographer: Scott McIntyre/ -- The number of Americans applying for unemployment benefits more than doubled to a second straight record as the coronavirus widened its reach and closed more businesses.A total of 6.65 mil

. An empty restaurant is seen in Manhattan borough following the outbreak of coronavirus disease (COVID-19) in New York City By Lucia Mutikani WASHINGTON The number of Americans filing claims for unemployment benefits last week shot to a record high for a second week in a rowtopping 6 millionas more jurisdictions enforced stay-at-home me

. City workers head to work during the morning rush hour in London LONDON More than a quarter of British companies reduced staff levels over the short term as the coronavirus crisis began to hammer the country's economy, a survey published on Thursday showed. "Over a quarter (27%) of responding businesses said they were reducing staff levels in the short

. Outbreak of the coronavirus disease (COVID-19), in Madrid MADRID Spain has shed close to 900,000 jobs, more than half of them temporary, since it went into lockdown in mid-March to fight the coronavirus outbreak, social security data showed on Thursday. Spain, which has the world's second highest death toll from the disease after Italy, has

. Property sale signs are seen outside of a group of newly built houses in west London LONDON Britain's housing market is grinding to a halt after the government's shutdown of much of the economy, cutting short a nascent recovery that saw prices rise at their strongest pace in more than two years in March, mortgage lender Nationwide said. Pric

. Property sale signs are seen outside of a group of newly built houses in west London LONDON British house prices rose in March at their fastest annual pace since January 2018 but the market is now grinding to a halt after the government's shutdown of much of the economy, mortgage lender Nationwide said. Prices rose by 3.0% compared with Marc

. People walk past a building undergoing construction in Mexico City MEXICO CITY Mexico's government forecast the economy will contract by as much as 3.9% in 2020, but predicted a rebound in 2021 to as much as 3.5% growth, the finance ministry said on Wednesday in an annual economic report used to guide the budget. "The economic forecast under the current

. An empty restaurant is seen in Manhattan borough following the outbreak of coronavirus disease (COVID-19) in New York City By Lucia Mutikani WASHINGTON The number of Americans filing claims for unemployment benefits likely shot to a record high for a second week in a row as more jurisdictions enforced stay-at-home measures to curb the corona

. Loan Applications to Buy U.S. Homes Decline to Lowest Since 2016 -- Loan applications to purchase U.S. homes declined for a third straight week to the lowest since November 2016 as coronavirus mitigation efforts stymied house hunting.The Mortgage Bankers Association’s purchase index dropped 10.8% in the period ended March 27 after tumbling 14.6% -- th

. A production line employee works at the AMES Companies shovel manufacturing assembly line in Camp Hill WASHINGTON The U.S. manufacturing sector contracted in March, with activity hitting its lowest level since 2009, as the coronavirus pandemic caused widespread shortages, a survey confirmed on Wednesday. Data firm IHS Markit said its final

. A worker walks through a construction site in San Francisco WASHINGTON U.S. construction spending unexpectedly fell in February and could decline further as the coronavirus pandemic wreaks havoc on the economy. The Commerce Department said on Wednesday that construction spending decreased 1.3%. Data for January was revised higher to show construction ou

2/2Reuters. Job seekers prepare for career fair to open at Rutgers University in New Brunswick, New Jersey 2/2 By Lucia Mutikani WASHINGTON U.S. manufacturing activity contracted less than expected in March, but disruptions caused by the coronavirus pandemic pushed new orders received by factories to an 11-year low, reinforcing economi

. Line workers spot weld parts of the frame on the flex line at Nissan Motor Co's automobile manufacturing plant in Smyrna Tennessee WASHINGTON U.S. manufacturing activity contracted less than expected in March, but disruptions caused by the coronavirus pandemic pushed new orders received by factories to an 11-year low, reinforcing economists'

2/2Reuters. Job seekers prepare for career fair to open at Rutgers University in New Brunswick, New Jersey 2/2 By Lucia Mutikani WASHINGTON U.S. private payrolls dropped in March for the first time in 2-1/2 years, likely as businesses shut down in compliance with strict measures by authorities to contain the coronavirus pandemic, suppo

2/2Reuters. Job seekers prepare for career fair to open at Rutgers University in New Brunswick, New Jersey 2/2 By Lucia Mutikani WASHINGTON U.S. private payrolls dropped in March for the first time in 2-1/2 years, likely as businesses shut down in compliance with strict measures by authorities to contain the coronavirus pandemic, suppo

. The U.S. private sector shed 27,000 jobs in March, according to a report by payrolls processor ADP, before the worst of the impact of the coronavirus pandemic on the U.S. labor market was seen.Economists had expected the report to show a much larger loss of 150,000 jobs. February’s figure was revised to 179,000 from the 183,000 initially reported.“It is impo

. A worker welds at a market under construction in Kunming By Jonathan Cable and Leika Kihara LONDON/TOKYO Factories fell quiet across most of Europe and Asia in March as the coronavirus pandemic paralyzed economic activity, with evidence mounting that the world is sliding into deep recession. Manufacturing activity has tumbled, purchasing managers' index

. TOKYO Some of Japan's biggest department store owners on Wednesday reported an unprecedented slump in March sales as the coronavirus outbreak hit tourism and forced stores to shorten their operating hours.Retail group J.Front Retailing Co Ltd (T:3086) said it suffered its worst year-on-year decline on record, as sales at its Daimaru Matsuzakaya departm

. BRUSSELS Unemployment in the euro zone fell to a 12-year low in February, the month before coronavirus containment measures began to be introduced widely across Europe.The jobless rate was 7.3% in the 19 countries sharing the euro zone, the lowest level since March 2008, EU statistics office Eurostat said on Wednesday. Economists polled by had