About 64% of U.S firms expect growth in the next six months, more than 12% that project declines, according to the Federal Reserve Bank Philadelphia press release. The figures are based on a Manufacturing Business Outlook Survey that showed an increase in general activity, new orders, and shipments for the eighth consecutive month. The diffusion index for current activity … [Read more...] about US Business Remains Optimistic on Sustained Manufacturing Activity
Forex News
U.K had 35% Plunge in Consumer Spending, New Card-Purchase Data Shows
U.K card purchases went down by 35% below pre-pandemic levels in the second week of January, according to the Office for National Statistics, press release. Spending on credit and debit cards was 4% higher than in February, the month before the pandemic struck. The decline in consumer spending reflects the impact of tightened lockdowns in controlling the coronavirus and … [Read more...] about U.K had 35% Plunge in Consumer Spending, New Card-Purchase Data Shows
U.S. Jobless Claims Fell, But Remain Higher than Pre-Crisis Levels
U.S jobless claims were 900,000 in the week ending January 16, down 26,000 from the previous week and less than expected 935,000, according to the Department of Labor press release. Continuing claims fell by 127,000 to hit 5.05 million, less than the expected 5.3 million in the week ending January 9. The 4-week jobless claims moving average was 848,000, an increase of … [Read more...] about U.S. Jobless Claims Fell, But Remain Higher than Pre-Crisis Levels
U.K. House Prices Rose 7.6% in the Year to November
U.K house prices increased 7.6% to £249,633 in the year to November 2020, up from 5.9% in October 2020, according to the U.K Government press release. Average house prices rose by 1.2% between October and November 2020, compared with a fall of 0.4% during the same period a year earlier. House price growth was strongest in Yorkshire and The Humber and London, where … [Read more...] about U.K. House Prices Rose 7.6% in the Year to November
IEA Cuts 2021 Oil Demand Outlook on new COVID-19 Lockdowns
The International Energy Agency (IEA) on Tuesday revised global oil demand downwards by 0.3 million barrels, reports CNBC. IEA now expects world oil demand to recover by 5.5 million barrels per day (bpd) to 96.6 million this year. The downward revision of demand outlook by IEA follows an unprecedented collapse of 8.8 million bpd last year as the coronavirus hit global … [Read more...] about IEA Cuts 2021 Oil Demand Outlook on new COVID-19 Lockdowns
