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WASHINGTON, June 6, 2024 (AFP) – The US trade deficit expanded slightly less than analysts expected in April, to the widest since late 2022, as imports rose more quickly than exports, according to government data released Thursday. The overall gap was $74.6 billion, growing from March’s revised $68.6 billion figure, said the Commerce Department. This was the largest deficit since October 2022, according to official data. US consumption has been more resilient than anticipated […]
By Beiyi SEOW WASHINGTON, Feb 2, 2024 (AFP) – The US labor market smashed expectations last month in a surprise hiring pick-up, government data showed Friday, with a resilient jobs market likely good news for President Joe Biden in election year. The world’s biggest economy added 353,000 jobs in January, after December’s figure was significantly revised upwards to 333,000, said the Department of Labor. The unemployment rate held steady at 3.7 percent for a third […]
By Roland JACKSON LONDON, Jan 17, 2024 (AFP) – British annual inflation unexpectedly picked up in December, data showed Wednesday, dashing hopes of an early cut to UK interest rates and prolonging a cost-of-living squeeze before an election. The Consumer Prices Index (CPI) accelerated slightly to 4.0 percent from 3.9 percent in November, the Office for National Statistics said, confounding expectations for a modest slowdown. The news dented hopes the Bank of England would cut […]
TOKYO, Dec 13, 2023 (AFP) – Confidence among Japan’s largest manufacturers has risen for a third straight quarter, a key survey showed Wednesday. The Bank of Japan’s Tankan survey showed business confidence rising to a reading of plus 12, up from plus nine three months earlier. The poll reports the difference between the percentage of firms that are upbeat and those not, with a positive figure meaning more businesses feel optimistic. The headline figure — […]
By Roland JACKSON LONDON, Nov 10, 2023 (AFP) – Britain’s economy stagnated in the third quarter, official data showed Friday, weighed down by elevated inflation and interest-rate hikes. Gross domestic product showed no growth in the July-September period, the Office for National Statistics (ONS) said in a statement. That beat market expectations for a contraction of 0.2 percent, but followed 0.2-percent expansion in the second quarter. The data comes one week after the Bank of […]
WASHINGTON, Aug 30, 2023 (AFP) – Economic growth in the United States was weaker than first estimated for the April to June period, the Commerce Department said Wednesday, noting downward revisions in business investment. GDP growth in the world’s biggest economy came in at 2.1 percent for the second quarter, down from the initial estimate of 2.4 percent released in July. The updated growth figure is still slightly above the pace in the first three […]
WASHINGTON, July 28, 2023 (AFP) – WASHINGTON, July 28, 2023 (AFP) – A key indicator of US inflation cooled in June to the lowest annual rate in over two years, although this remains above the central bank’s target, according to government data released Friday. The Federal Reserve’s preferred gauge of inflation, the personal consumption expenditures (PCE) price index, rose 3.0 percent last month from June 2022, down from a 3.8 percent jump in May, said […]
LONDON, May 24, 2023 (AFP) – Britain’s annual inflation rate struck a 13-month low in April, official data showed Wednesday, but remains elevated at 8.7 percent as soaring food prices offset weaker energy costs, prolonging a cost-of-living crisis. The rate of price increases slowed from 10.1 percent in March to below double digits for the first time since August last year, the Office for National Statistics said in a statement. At 8.7 percent, UK inflation […]
Singapore is expected to post slower economic growth this year but it “should avoid an outright contraction”, Prime Minister Lee Hsien Loong said Sunday. The Southeast Asian city-state’s economic performance is often seen as a barometer of the global environment because of its reliance on trade with the rest of the world. The financial centre also has one of the busiest ports in the world which serves as a key link between Asia and the […]
WASHINGTON, April 27, 2023 (AFP) – US economic growth lost steam in the first quarter this year, said the Commerce Department on Thursday, as the possibility of a mild recession brews while consumer spending weakens. Consumption has provided a boost to the world’s biggest economy, giving it a strong start to 2023, but recent banking sector turmoil and rising interest rates are likely to weigh on the outlook. US gross domestic product rose at an […]
Washington, United States | AFP | US consumer inflation cooled slightly in January but the figure remains markedly above policymakers’ target, boosted by rent and energy costs, Labor Department data showed on Tuesday. The consumer price index (CPI), a key gauge of inflation, has come down from a blistering 9.1 percent peak last June while the central bank embarked on an aggressive campaign to rein in soaring prices. As households were squeezed by decades-high inflation, […]
JAKARTA, Indonesia (AFP) — Indonesia’s economic growth accelerated to a nine-year high in 2022 despite global uncertainty and a final-quarter slowdown, official data showed Monday, owing to soaring commodity prices and easing Covid-19 curbs. Indonesia was badly affected by the coronavirus pandemic, with its exports and tourism-reliant economy taking a massive hit in 2020 as GDP shrunk by 2.07 percent — its first recession since the 1997 Asian financial crisis. But Southeast Asia’s largest economy […]
