European Central Bank’s Governing Council differed on how much additional monetary stimulus was needed in last month’s meeting, according to Bloomberg. The council, nonetheless, agreed more aid was needed to preserve favorable financing conditions. Policymakers argued for smaller and larger increases in the pandemic bond-buying program and disputed the extent of loosening … [Read more...] about ECB Unanimous on Stimulus Need, But Yet to Agree on Extent
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U.S Consumer Price Index Rose 0.4% in December
U.S Consumer Price Index for All Urban Consumers (CPI-U) rose by 0.4% in December, according to the Department of Labor press release. The increase follows a 0.2% rise in November with the all time index posting a 1.4% surge over the last 12 months before seasonal adjustments. The seasonally adjusted increase in the all items index was driven by an 8.4% rise in the … [Read more...] about U.S Consumer Price Index Rose 0.4% in December
U.S. Records 3.2% Rises in Manufacturing PMI in December
U.S. December Manufacturing PMI registered 60.7%, up 3.2% from November reading of 57.5%, according to press release. The figure reflects an expansion in the overall economy for eight months in a row, offsetting contractions in March, April, and May. The New Orders Index was 67.9%, up 2.8% from November’s reading of 65.1%The Production Index was 64.8%, up 4% from … [Read more...] about U.S. Records 3.2% Rises in Manufacturing PMI in December
U.S. Jobless Claims Defies Expectations to Close Lower at 803,000
The number of initial claims for the week ending December 19 came at 803,000, down from the previous 892,000, according to the Department of Labor press release. The jobless claims were better than expected 888,000. The previous week’s initial jobless claims were revised up by 7,000 from 885,000 to 892,000Continuing claims fell to 5.3 million for the week ending … [Read more...] about U.S. Jobless Claims Defies Expectations to Close Lower at 803,000
U.S. Records Increases in GDP in Third Quarter 2020
U.S. real gross domestic product (GDP) rose at an annual rate of 33.4% in the third quarter of 2020, according to the Bureau of Economic Analysis press release. The rise was an improvement from the second quarter, where real GDP fell by 31.4%. Current dollar GDP rose by 38.3% annual rate, or $1.65 trillion, in the third quarter to $21.17 trillion, up from a decline of … [Read more...] about U.S. Records Increases in GDP in Third Quarter 2020
