ECI

US weekly jobless claims fall to nine-month low; productivity speeds up

Weekly jobless claims fall by 3,000 to 183,000 Continuing claims decrease by 11,000 to 1.655 million Productivity accelerates at a rate of 3.0% in the fourth quarter Unit labor costs increase at a rate of 1.1% WASHINGTON, Feb 2 (Reuters) – The number of Americans filing new claims for unemployment benefits fell to a nine-month …

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Strong US economic growth expected in the fourth quarter, darkening outlook

GDP is expected to increase by 2.6% in the fourth quarter Strong consumer spending observed; other sectors to contribute Weekly jobless claims expected to rise moderately WASHINGTON, Jan 26 (Reuters) – The U.S. economy likely maintained a healthy pace of growth in the fourth quarter as consumers increased their spending on goods, but momentum appears …

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US home sales fall to 12-year low; glimmers or heaps of emergence

Existing home sales fall 1.5% in December Sales fall 17.8% in 2022, the biggest annual drop since 2008 Median home price rises 2.3% from a year ago WASHINGTON, Jan 20 (Reuters) – U.S. existing home sales fell to their lowest level in 12 years in December, but falling mortgage rates prompted cautious optimism that the …

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The Fed will offer two 25 basis point hikes in the first quarter, followed by a long pause

BENGALURU, Jan 20 (Reuters) – The U.S. Federal Reserve will end its tightening cycle after hiking 25 basis points at each of its next two policy meetings, then likely keep interest rates stable for at least the next rest of the year, according to most economists in a Reuters poll. Fed officials generally agree that …

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US inflation subsidizes as consumer prices fall; labor market still tight

Consumer prices fell 0.1% in December The CPI increases by 6.5% over one year Core CPI increases by 0.3%; up 5.7% year-on-year Weekly jobless claims fall by 1,000 to 205,000 WASHINGTON, Jan 12 (Reuters) – U.S. consumer prices fell for the first time in more than two and a half years in December amid falling …

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New Fed study points to growing risk of recession in the United States

NEW YORK, Dec 30 (Reuters) – Just over half of the 50 U.S. states are showing signs of slowing economic activity, crossing a key threshold that often signals a recession is looming, new research from the St According to the Louis Federal Reserve Bank report. The report, released Wednesday, followed another San Francisco Fed report …

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US inflation will be much lower by the end of 2023, Yellen says

Dec 11 (Reuters) – U.S. Treasury Secretary Janet Yellen on Sunday predicted a substantial reduction in U.S. inflation in 2023 barring an unexpected shock. “I think by the end of next year you’ll see much lower inflation if there’s not…an unforeseen shock,” she told CBS’ 60 Minutes in an interview published on Sunday. Asked about …

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US labor market shrugs off recession fears; keeps the Fed on a tightening path

Non-farm payrolls increased by 263,000 in November Unemployment rate stable at 3.7%; turnout drops The average hourly wage increases by 0.6%; up 5.1% year-on-year WASHINGTON, Dec 2 (Reuters) – U.S. employers hired more workers than expected in November and raised wages, ignoring growing fears of a recession, but that is unlikely to stop the Federal …

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