Tag: US

The U.S. economy added far more jobs than expected in May, countering fears of a slowdown in the labor market and likely reducing the Federal Reserve’s impetus to lower interest rates.

Private job creation slowed more than expected in May, according to a report Wednesday from ADP that signals further sluggishness in the labor market.

Inflation rose about as expected in April, with markets on edge over when interest rates might start coming down, according to a measure released Friday that is followed closely by the Federal Reserve.

The U.S. economy grew at a slower 1.3% annual pace in the first three months of the year, revised government figures show, largely because of softer consumer spending.

Orders for durable goods rose 0.7% in April, for the third straight monthly gain, the Commerce Department said Friday.

Inflation eased slightly in April, providing at least a bit of relief for consumers while still holding above levels that would suggest a cut in interest rates is imminent.

U.S. President Joe Biden is set to announce new China tariffs as soon as next week targeting strategic sectors including electric vehicles, according to two people familiar with the matter.

Initial filings for unemployment benefits hit their highest level since late August 2023 in a potential sign that an otherwise robust labor market is changing.

Private payrolls increased at a faster than expected pace in April, indicating there are still plenty of tailwinds for the U.S. labor market, according to ADP.

US inflation rose to 2.7 per cent in the year to March, according to the metric the Federal Reserve uses to set its target for price pressures.

The U.S. trade deficit in goods widened 1.7% to $91.8 billion in March, according to the Commerce Department’s advanced estimate released Thursday.

Inflation-adjusted gross domestic product grew at an annualized rate of 1.6% in the first quarter, according to an initial estimate the Bureau of Economic Analysis released Thursday.

President Joe Biden is calling on the U.S. Trade Representative to triple the China tariff rate on steel and aluminum imports as he makes the rounds in the key battleground state of Pennsylvania.

The consumer price index accelerated at a faster than expected pace in March, pushing inflation higher and likely keeping the Federal Reserve on hold with interest rates.

U.S. Treasury Secretary Janet Yellen on Monday said she would not rule out any measures, including potential tariffs, on China’s green energy exports.

U.S. employers hired far more workers than expected March while raising wages, suggesting the economy ended the first quarter on solid ground and potentially delaying anticipated interest rate cuts from the Federal Reserve this year.

Companies added 184,000 workers on the month, an increase from the upwardly revised February gain of 155,000, according to payrolls processing firm ADP.

The final reading of U.S. growth in the 2023 fourth quarter was raised a few notches to a 3.4% annual pace, reflecting a surprisingly resilient U.S. economy.

Factory orders in the U.S. rebounded in February with a 1.4% gain and business investment also rose sharply in perhaps an early sign of revival in the manufacturing side of the economy.

The Francis Scott Key Bridge partially collapsed in the early hours of Tuesday morning following a ship collision, local authorities said.