U.S. Manufacturing Gauge Contracts for First Time in Three Years

A key U.S. factory gauge unexpectedly contracted for the first time since 2016, sending stocks and bond yields lower and boosting expectations for interest-rate cuts as global manufacturing woes deepen. The Institute for Supply Management’s purchasing managers index fell to 49.1 in August, weaker than all forecasts in a Bloomberg survey of economists, data released […]

Monthly CPI Up 0.3% and 2.4% Over Last Year

A measure of underlying U.S. inflation accelerated by more than forecast to a one-year high in August, signaling inflation was already firming ahead of fresh tariffs on Chinese goods this month that may push prices higher for Americans. The core consumer price index, which excludes food and energy, rose 0.3% from the prior month and […]

China announces first tariff exemptions on US goods

China’s Finance Ministry on Sept. 11 announced the first round of exemptions of U.S. goods from Chinese retaliatory tariffs. The exemptions will be effective from Sept. 17 to Sept. 16, 2020. Specifically, the exclusions will cover two lists — one comprising 12 items and another comprising four items.

Job growth falls short of expectations as August payrolls rise just 130,000

Job growth continued at a tepid pace in August, with nonfarm payrolls increasing by just 130,000 thanks in large part to the temporary hiring of Census workers, the Labor Department reported Friday. The increase fell short of Wall Street estimates for 150,000, while the unemployment rate stayed at 3.7%, as expected.

US weekly jobless claims fall more than expected

The number of Americans filing applications for unemployment benefits fell sharply last week, suggesting the labor market was holding firm despite a manufacturing slowdown and concerns the economy is on a path toward recession.