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UK economy shrinks for second month, contracting 0.1% in October
The U.K. economy contracted unexpectedly in October, according to data from Britain's Office for National Statistics (ONS). Gross Domestic Product fell by an estimated 0.1% on a monthly basis, the ONS said Friday, with officials attributing the downturn to a decline in production output. Economists
Wholesale prices rose 0.4% in November, more than expected
A measure of wholesale prices rose more than expected in November, adding fuel to the belief that progress in bringing down inflation has slowed, the Bureau of Labor Statistics reported Thursday. The producer price index, or PPI, which measures what producers get for their products at the final-dema
Budget deficit swells in November, pushing fiscal 2025 shortfall 64% higher than a year ago
The U.S. budget deficit swelled in November, putting fiscal 2025 already at a much faster pace than a year ago when the shortfall topped $1.8 trillion, the Treasury Department reported Wednesday. For the month, the deficit totaled $366.8 billion, 17% higher than November 2023 and taking the total fo
Annual inflation rate accelerates to 2.7% in November, as expected
Consumer prices rose at a faster annual pace in November, a reminder that inflation remains an issue both for households and policymakers. The consumer price index showed a 12-month inflation rate of 2.7% after increasing 0.3% on the month, the Bureau of Labor Statistics reported Wednesday. The annu
The CPI report Wednesday is expected to show progress on inflation has hit a wall
A key economic report coming Wednesday is expected to show that progress has stalled in bringing down the inflation rate, though not so much that the Federal Reserve won't lower interest rates next week. The consumer price index, a broad measure of goods and services costs across the U.S. economy, i
Household finance outlook hits highest since February 2020 following Trump win, New York Fed survey shows
Optimism about household finances hit a multiyear high following Donald Trump's presidential election victory in November, according to a New York Federal Reserve survey released Monday. Households expecting their financial situation to be better a year from now jumped to 37.6%, an increase of about
The Fed is on course to cut interest rates in December, but what happens next is anyone's guess
Friday's jobs report virtually cements that the Federal Reserve will approve an interest rate cut when it meets later this month. Whether it should, and what it does from there, is another matter. The not-too-hot, not-too-cold nature of the November nonfarm payrolls release gave the central bank wha
Here’s where the jobs are for November 2024 – in one chart
The jobs report for November came in better than expected, and that growth came from several different areas of the U.S. economy, according to the data. Health care and social assistance led the way yet again last month, seeing 72,300 new positions added in that area, per the Bureau of Labor Statist
Unemployment rate jumps more than a percentage point for Black women in November
The unemployment rate climbed sharply for Black women in November. The overall jobless rate edged up slightly last month to 4.2% from 4.1% in October, according to the U.S. Bureau of Labor Statistics on Friday. But some groups experienced more significant rises in unemployment relative to others. Bl
Payrolls increased 227,000 in November, more than expected; unemployment rate at 4.2%
Job creation in November rebounded from a near-standstill the prior month as the effects of a significant labor strike and violent storms in the Southeast receded, the Bureau of Labor Statistics reported Friday. Nonfarm payrolls increased by 227,000 for the month, compared with an upwardly revised 3
There's an important jobs report coming Friday. Here's what to expect
After a month in which hiring was essentially muted due to storms and strikes, the jobs report due out Friday could provide a clearer picture of where the labor market is headed. The Bureau of Labor Statistics is expected to report Friday at 8:30 a.m. ET that nonfarm payrolls increased by 214,000 in
Trump plans to nominate Paul Atkins as SEC chair in crypto-friendly move
President-elect Donald Trump, keeping with his promise for a crypto-friendly administration, plans to nominate former SEC Commissioner Paul Atkins to head the agency, according to his Truth Social post. Currently the CEO at Patomak Global Partners, Atkins is a well-known veteran of the financial wor
Bank of England's Bailey signals four interest rate cuts in 2025 if inflation cools
Bank of England Governor Andrew Bailey on Wednesday signaled that the U.K. could be on track for four interest rate cuts over the next year, if inflation continues on a downward path. Asked during a Financial Times video interview whether the central bank would be poised to carry out four quarter-po
France's political chaos casts long shadow over economic growth
French lawmakers will hold a no-confidence vote in the fragile minority government of Prime Minister Michel Barnier on Wednesday, as economists warn the political stalemate likely to ensue will come at a high economic cost. Two so-called "motions of censure" filed by both the left-wing and far-right
Job openings jumped and hiring slumped in October, key labor report for the Fed shows
Available jobs rose in October while hiring fell during a month in which payrolls growth hit its lowest level in nearly four years, the Bureau of Labor Statistics reported Tuesday. Job openings totaled 7.74 million on the month, up 372,000 from September and more than the Dow Jones estimate for 7.5
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