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 […]
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’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 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.
The U.S. economy grew at a modest pace through much of July and August, with companies remaining upbeat despite disruption caused by international trade disputes, a Federal Reserve survey found.
China’s Commerce Ministry says talks with the United States on ending their tariff war will take place in early October in Washington, later than previously planned.
A gauge of U.S. manufacturing from the Institute for Supply Management showed the sector contracted in August, its first decline since 2016. The ISM U.S. manufacturing Purchasing Managers’ Index fell to 49.1% in August, the lowest reading in more than three years. Any reading below 50% signals a contraction.
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.
U.S. consumer confidence declined in August by less than forecast as Americans’ assessment of current conditions climbed to the highest level in almost 19 years, helped by a job market that remains robust.
Stock markets appeared poised to rebound Thursday as China softened its tone regarding the trade war with the U.S. a day after Wall Street suffered its worst session of the year.