Euro zone grows 0.4% in first quarter, beating expectations

Flash (preliminary) growth data from the region showed the economy grew 0.4% in the first quarter, up from 0.2% in the fourth quarter of 2018 and up from a 0.1% figure for the third quarter. Earlier Tuesday, Spain posted preliminary data showing a 0.7% expansion in the first quarter, and France posted 0.3% growth. Later, Italy posted 0.2% growth quarter on quarter, beating expectations. On Monday, data released showed that economic sentiment decreased “markedly” in both the euro zone and the wid


Flash (preliminary) growth data from the region showed the economy grew 0.4% in the first quarter, up from 0.2% in the fourth quarter of 2018 and up from a 0.1% figure for the third quarter. Earlier Tuesday, Spain posted preliminary data showing a 0.7% expansion in the first quarter, and France posted 0.3% growth. Later, Italy posted 0.2% growth quarter on quarter, beating expectations. On Monday, data released showed that economic sentiment decreased “markedly” in both the euro zone and the wid
Euro zone grows 0.4% in first quarter, beating expectations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: holly ellyatt
Keywords: news, cnbc, companies, investors, expectations, 04, growth, 02, data, latest, quarter, zone, posted, euro, grows, preliminary, beating


Euro zone grows 0.4% in first quarter, beating expectations

European investors are focused on the latest growth data from the region due on Tuesday, with investors looking for hints of a further slowdown — or a recovery — following a spate of lackluster figures.

Flash (preliminary) growth data from the region showed the economy grew 0.4% in the first quarter, up from 0.2% in the fourth quarter of 2018 and up from a 0.1% figure for the third quarter.

Most analysts predicted preliminary growth of between 0.2% and 0.4%. Analysts polled by Reuters predicted 0.3%.

Earlier Tuesday, Spain posted preliminary data showing a 0.7% expansion in the first quarter, and France posted 0.3% growth. Later, Italy posted 0.2% growth quarter on quarter, beating expectations.

Eurostat, the bloc’s statistics body, also posted the latest unemployment figures for March, with the jobless rate at 7.7%, down from 7.8% in February.

It’s not an easy time for the euro zone with flat growth in Germany and a short-lived recession in Italy worrying investors. There has been a gloomy raft of data recently ranging from industrial production to weak composite purchasing managers’ indexes (PMIs). The last flash services and manufacturing PMI stood at 51.3 in April, down from 51.6 in March, with the latest reading the third-lowest since November 2014.

IHS Markit, which compiles the PMI data, said new order growth remained close to stagnant, new export orders fell sharply, manufacturing output fell, and employment growth picked up only slightly.

Business expectations were also gloomy with political uncertainty, including Brexit, trade wars and protectionism all weighing on sentiment. IHS expected growth of around 0.2% in the first quarter.

On Monday, data released showed that economic sentiment decreased “markedly” in both the euro zone and the wider EU in April.

It’s not all been bad news, however. Other data released in recent weeks have shown modest growth in construction activity and euro zone retail sales that continue to surpass expectations.


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: holly ellyatt
Keywords: news, cnbc, companies, investors, expectations, 04, growth, 02, data, latest, quarter, zone, posted, euro, grows, preliminary, beating


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Toyota’s third-quarter operating profit rises 0.4 percent

Toyota Motor on Wednesday reported a 0.4 percent rise in third-quarter operating profit as continued increase in sales in Asia, including China, offset lower sales in North America, its biggest market. Japan’s largest automaker posted a profit of 676.1 billion yen ($6.16 billion) for the October to December period, from 673.64 billion yen in the same period a year earlier. The result compared with the 680.84 billion yen median of 10 analyst estimates compiled by Refinitiv. Toyota cut its full-ye


Toyota Motor on Wednesday reported a 0.4 percent rise in third-quarter operating profit as continued increase in sales in Asia, including China, offset lower sales in North America, its biggest market. Japan’s largest automaker posted a profit of 676.1 billion yen ($6.16 billion) for the October to December period, from 673.64 billion yen in the same period a year earlier. The result compared with the 680.84 billion yen median of 10 analyst estimates compiled by Refinitiv. Toyota cut its full-ye
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Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: shiho fukada, bloomberg, getty images
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Toyota's third-quarter operating profit rises 0.4 percent

Toyota Motor on Wednesday reported a 0.4 percent rise in third-quarter operating profit as continued increase in sales in Asia, including China, offset lower sales in North America, its biggest market.

Japan’s largest automaker posted a profit of 676.1 billion yen ($6.16 billion) for the October to December period, from 673.64 billion yen in the same period a year earlier.

The result compared with the 680.84 billion yen median of 10 analyst estimates compiled by Refinitiv.

Toyota cut its full-year net profit forecast to 1.87 trillion yen from a previous forecast for 2.3 trillion yen. It left its full-year operating profit forecast unchanged at 2.4 trillion yen.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: shiho fukada, bloomberg, getty images
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US oil prices edge up as market eyes tighter supply

U.S. oil prices inched up on Tuesday, buoyed by expectations of tightening global supply due to U.S. sanctions on Venezuela and production cuts led by OPEC. U.S. West Texas Intermediate (WTI) crude futures were at $54.77 per barrel at 0223 GMT, up 21 cents or 0.4 percent. Analysts said that U.S. sanctions on Venezuela had focused market attention on tighter global supplies. “Fresh U.S. sanctions on the country could see 0.5-1 percent of global supply curtailed,” said Vivek Dhar, mining and energ


U.S. oil prices inched up on Tuesday, buoyed by expectations of tightening global supply due to U.S. sanctions on Venezuela and production cuts led by OPEC. U.S. West Texas Intermediate (WTI) crude futures were at $54.77 per barrel at 0223 GMT, up 21 cents or 0.4 percent. Analysts said that U.S. sanctions on Venezuela had focused market attention on tighter global supplies. “Fresh U.S. sanctions on the country could see 0.5-1 percent of global supply curtailed,” said Vivek Dhar, mining and energ
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Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: isaac urrutia
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US oil prices edge up as market eyes tighter supply

U.S. oil prices inched up on Tuesday, buoyed by expectations of tightening global supply due to U.S. sanctions on Venezuela and production cuts led by OPEC.

U.S. West Texas Intermediate (WTI) crude futures were at $54.77 per barrel at 0223 GMT, up 21 cents or 0.4 percent. They closed down 1.3 percent on Monday, after earlier touching their highest since Nov. 21 at $55.75 a barrel.

International Brent crude oil futures were at $62.72 a barrel, also up 21 cents or 0.4 percent, after closing down 0.4 percent in the previous session.

Analysts said that U.S. sanctions on Venezuela had focused market attention on tighter global supplies.

“Fresh U.S. sanctions on the country could see 0.5-1 percent of global supply curtailed,” said Vivek Dhar, mining and energy analyst, Commonwealth Bank of Australia.

The sanctions will sharply limit oil transactions between Venezuela and other countries and are similar to but slightly less extensive than those imposed on Iran last year, experts said on Friday after looking at details posted by the Treasury Department.

With fresh sanctions potentially looming, a flotilla loaded with about 7 million barrels of Venezuelan oil has formed in the Gulf of Mexico, some holding cargoes bought ahead of the latest U.S. sanctions and others whose buyers are weighing who to pay, according to traders, shippers and Refinitiv Eikon data.

Meanwhile, oil supply from the Organization of the Petroleum Exporting Countries fell in January by the largest amount in two years, a Reuters survey found, as Saudi Arabia and its Gulf allies over-delivered on the group’s supply-cutting pact while Iran, Libya and Venezuela registered involuntary declines.

Russia has been in full compliance with its pledge to gradually cut its oil production, Russian Energy Minister Alexander Novak said in a statement on Monday, adding that production fell by 47,000 barrels per day (bpd) in January from October.


Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: isaac urrutia
Keywords: news, cnbc, companies, sanctions, eyes, venezuela, 21, supply, gulf, 04, market, global, oil, tighter, production, iran, prices, edge


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Gold prices fall in thin trade as risk aversion recedes

Gold prices slipped on Monday as risk aversion waned with the progress in U.S.-China trade talks, while a firm dollar kept the bullion under pressure. Spot gold was down 0.4 percent to $1,312.56 per ounce as of 0455 GMT, having hit their highest since April 26 at $1,326.30 on Thursday. U.S. gold futures fell 0.4 percent to $1,317 per ounce. The U.S.-China trade talks had a “good vibe” with much work remaining, White House economic adviser Larry Kudlow said on Friday, fanning hopes of an end to t


Gold prices slipped on Monday as risk aversion waned with the progress in U.S.-China trade talks, while a firm dollar kept the bullion under pressure. Spot gold was down 0.4 percent to $1,312.56 per ounce as of 0455 GMT, having hit their highest since April 26 at $1,326.30 on Thursday. U.S. gold futures fell 0.4 percent to $1,317 per ounce. The U.S.-China trade talks had a “good vibe” with much work remaining, White House economic adviser Larry Kudlow said on Friday, fanning hopes of an end to t
Gold prices fall in thin trade as risk aversion recedes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: getty images
Keywords: news, cnbc, companies, 04, prices, uschina, talks, trade, yang, china, week, recedes, fall, support, ounce, gold, risk, aversion


Gold prices fall in thin trade as risk aversion recedes

Gold prices slipped on Monday as risk aversion waned with the progress in U.S.-China trade talks, while a firm dollar kept the bullion under pressure.

Spot gold was down 0.4 percent to $1,312.56 per ounce as of 0455 GMT, having hit their highest since April 26 at $1,326.30 on Thursday.

U.S. gold futures fell 0.4 percent to $1,317 per ounce.

“The plunge (from Thursday’s peak) came along with fading enthusiastic for safe-havens, as U.S. and China are moving to close a deal and many uncertainties surrounding the U.S. government shutdown, Brexit, Fed policy were cleared last week,” said Margaret Yang, a market analyst with CMC Markets.

The U.S.-China trade talks had a “good vibe” with much work remaining, White House economic adviser Larry Kudlow said on Friday, fanning hopes of an end to the long-drawn trade tiff between the world’s two largest economies.

Meanwhile, the dollar was near a one-week high against the yen on the back of robust U.S. jobs data.

“Upbeat non-farm payroll suggests the U.S. economy is riding a strong momentum, dampening demand for safe-haven assets like gold,” Yang said, adding that this failed to change the market’s view of the Federal Reserve’s dovish stance with regard to its monetary tightening policy.

Despite signs of a robust economy, the Fed is widely expected to keep rates steady this year, thanks to heightened worries over global growth, especially in China and Europe.

Gold trade was subdued with top consumer China closed all week for the Lunar New Year.

Spot gold may test a support at $1,311 per ounce, a break below which could cause a loss to the next support at $1,299, according to Reuters analyst Wang Tao.

“I think gold will revisit the band of short-term support at $1,306-$1,310 but remains fairly well supported,” said Nicholas Frappell, global general manager, ABC Bullion.

Among other precious metals, palladium slipped to to $1,349.00 per ounce.

Silver dipped 0.6 percent to $15.82 per ounce, while platinum fell 0.4 percent to $818.50.


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: getty images
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Gold prices rise as Fed rate tone weakens dollar

Spot gold rose 0.4 percent to $1,290.84 per ounce as at 0310 GMT, heading for a fourth straight weekly gain. U.S. gold futures were up 0.3 percent at $1,290.8 per ounce. “The weaker dollar and a more dovish Fed are the two most alluring factors for gold,” said Stephen Innes, APAC trading head at OANDA. “The (gold) market is holding back a little as they are concerned the equity market could rally significantly on trade war truce,” Innes said. Palladium 0.4 percent to $1,326.75 per ounce, and was


Spot gold rose 0.4 percent to $1,290.84 per ounce as at 0310 GMT, heading for a fourth straight weekly gain. U.S. gold futures were up 0.3 percent at $1,290.8 per ounce. “The weaker dollar and a more dovish Fed are the two most alluring factors for gold,” said Stephen Innes, APAC trading head at OANDA. “The (gold) market is holding back a little as they are concerned the equity market could rally significantly on trade war truce,” Innes said. Palladium 0.4 percent to $1,326.75 per ounce, and was
Gold prices rise as Fed rate tone weakens dollar Cached Page below :
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Gold prices rise as Fed rate tone weakens dollar

Gold prices climbed on Friday as the dollar fell back on expectations the U.S. central bank may pause interest rates hikes if the U.S. economy slows this year, while investors awaited news on progress in the Sino-U.S. trade talks.

Spot gold rose 0.4 percent to $1,290.84 per ounce as at 0310 GMT, heading for a fourth straight weekly gain. The yellow metal is up 0.4 percent so far this week.

U.S. gold futures were up 0.3 percent at $1,290.8 per ounce.

“The weaker dollar and a more dovish Fed are the two most alluring factors for gold,” said Stephen Innes, APAC trading head at OANDA.

“There are concerns for the U.S. economy to slow down, perhaps towards the end of 2019 and into 2020, so the markets are pricing rate cuts.”

The dollar slipped against other major currencies, after having rebounded from three-month lows on Thursday following Federal Reserve Chairman Jerome Powell’s comment which suggested the central bank is not done tightening monetary policy just yet.

A partial U.S. government shutdown extended into its 20th day and provided little comfort to the U.S. currency, after President Donald Trump threatened on Thursday to use emergency powers to bypass U.S. Congress to pay for a wall on the U.S.-Mexico border.

“The (gold) market is holding back a little as they are concerned the equity market could rally significantly on trade war truce,” Innes said.

Asian equities inched up to one-month highs, but the rally’s momentum slowed partly as investors sought more clarity on whether the United States and China could make headways on their talks on trade as well as intellectual property rights.

“Dilemma over the U.S.-Sino trade dispute is still raising eyebrows and needs clarity,” said Sugandha Sachdeva, vice-president – metals, energy and currency research, Religare Broking Ltd.

“Once trade issues are resolved, the dollar is likely to remain suppressed, losing its appeal as a safe haven…Gold on the other hand would stand to benefit.”

Also aiding gold’s upward trend are concerns of weakening global growth, further emphasized by somber data out of Switzerland and France on Thursday.

“Gold will likely approach the short term resistance of $1,310 per ounce, from where some profit-booking can be seen,” said Religare Broking’s Sachdeva, adding that near term support can be seen at $1,275 per ounce.

Spot gold is expected to retest a resistance at $1,299 per ounce, with a good chance of breaking above this level and rising further to $1,311, according to Reuters technical analyst Wang Tao.

Palladium 0.4 percent to $1,326.75 per ounce, and was up about 2 percent for the week.

Silver climbed 0.6 percent to $15.65. However, it was poised to snap three sessions of weekly gains.

Platinum was up 0.2 percent at $821.60 per ounce.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: getty images
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US consumer spending surges, while underlying inflation slows

U.S. consumer spending increased by the most in seven months in October, but underlying price pressures slowed, with an inflation measure tracked by the Federal Reserve recording its smallest annual increase since February. Data for September was revised down to show spending rising 0.2 percent instead of the previously reported 0.4 percent gain. Economists polled by Reuters had forecast consumer spending increasing 0.4 percent in October. When adjusted for inflation, consumer spending advanced


U.S. consumer spending increased by the most in seven months in October, but underlying price pressures slowed, with an inflation measure tracked by the Federal Reserve recording its smallest annual increase since February. Data for September was revised down to show spending rising 0.2 percent instead of the previously reported 0.4 percent gain. Economists polled by Reuters had forecast consumer spending increasing 0.4 percent in October. When adjusted for inflation, consumer spending advanced
US consumer spending surges, while underlying inflation slows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: mark makela, corbis, getty images
Keywords: news, cnbc, companies, rising, seven, slows, underlying, growth, inflation, spending, month, consumer, pace, surges, months, 04


US consumer spending surges, while underlying inflation slows

U.S. consumer spending increased by the most in seven months in October, but underlying price pressures slowed, with an inflation measure tracked by the Federal Reserve recording its smallest annual increase since February.

The Commerce Department said on Thursday consumer spending, which accounts for more than two-thirds of U.S. economic activity, jumped 0.6 percent last month as households spent more on prescription medication and utilities.

Data for September was revised down to show spending rising 0.2 percent instead of the previously reported 0.4 percent gain.

Economists polled by Reuters had forecast consumer spending increasing 0.4 percent in October. When adjusted for inflation, consumer spending advanced 0.4 percent, also the biggest gain in seven months and pointing to a solid pace of consumption at the beginning of the fourth quarter.

Despite the strong consumer spending, there are indications that economic growth is slowing. Data this month suggested a moderation in business spending on equipment, a deterioration in the trade deficit as well as further weakness in the housing market. Growth estimates for the fourth quarter are currently around a 2.5 percent annualized rate. The economy grew at a 3.5 percent pace in the July-September quarter.

In October, spending on goods surged 0.5 percent after gaining 0.1 percent in September. Outlays on services shot up 0.7 percent after rising 0.3 percent the prior month.


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: mark makela, corbis, getty images
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Gold hits over two-week low; set to end six-month losing streak

Gold prices fell to a more than two-week low on Wednesday as Asian stocks gained and the dollar touched multi-month highs on upbeat U.S. economic data. The yellow metal, however, remained on track to end a six-month losing streak, the longest since a period that finished in early 1997. A stronger dollar and a recovery in equities are putting pressure on gold today, said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong. A stronger dollar makes dollar-denominated bullion more exp


Gold prices fell to a more than two-week low on Wednesday as Asian stocks gained and the dollar touched multi-month highs on upbeat U.S. economic data. The yellow metal, however, remained on track to end a six-month losing streak, the longest since a period that finished in early 1997. A stronger dollar and a recovery in equities are putting pressure on gold today, said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong. A stronger dollar makes dollar-denominated bullion more exp
Gold hits over two-week low; set to end six-month losing streak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-31
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Gold hits over two-week low; set to end six-month losing streak

Gold prices fell to a more than two-week low on Wednesday as Asian stocks gained and the dollar touched multi-month highs on upbeat U.S. economic data.

The yellow metal, however, remained on track to end a six-month losing streak, the longest since a period that finished in early 1997.

Spot gold was 0.4 percent lower at $1,217.26 an ounce at 0419 GMT, having touched its lowest since Oct. 12 at $1,215.35 earlier in the session. It has risen about 2.4 percent so far in October, the biggest monthly gain since January.

U.S. gold futures fell 0.5 percent to $1,219.3 an ounce.

A stronger dollar and a recovery in equities are putting pressure on gold today, said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong.

“The market would now be focusing on the upcoming U.S. non-farm payroll data due on Friday and the U.S. mid-term elections next week for a direction,” Leung added.

The midterm elections, on Nov. 6, will determine whether the Republican or Democratic party controls the U.S. Congress.

In the wider markets, Asian stocks pulled away from 20-month lows on Wednesday, thanks to a rebound on Wall Street, although investors remained cautious.

The dollar hovered near 16-month highs versus a basket of major rivals after gaining overnight as traders bet on the relative outperformance of the U.S. economy and continued rate increases by the Federal Reserve.

“If the dollar continues to march higher, especially against its emerging markets peers, this will put some pressure on gold,” said Hussein Sayed, Chief Market Strategist at FXTM.

“As long as inflation doesn’t become a real threat or equities plunge much further from current levels, many investors will prefer yielding instruments than investing in gold, and that’s what the dollar is providing.”

Gold prices have slipped about 11 percent from their April peak as investors turned to the dollar as a safe-haven as the trade war unfolded against a backdrop of higher U.S. interest rates.

A stronger dollar makes dollar-denominated bullion more expensive for users f other currencies while higher interest rates reduce the attraction of non-yielding gold.

Spot gold may break a support at $1,217 per ounce and fall to the next support at $1,208, as suggested by a retracement analysis, said Reuters technical analyst Wang Tao.

Among other precious metals silver was down 0.4 percent at $14.40 per ounce after touching more than two-week low of $14.31.

Platinum rose 0.1 percent to $833.10 per ounce, while palladium climbed 0.4 percent to $1,076.99 per ounce.


Company: cnbc, Activity: cnbc, Date: 2018-10-31
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‘Alive and kicking’: German economy shifts into higher gear

The German economy picked up more steam than expected in the second quarter, driven by higher household and state spending, data showed on Tuesday, suggesting that Europe’s biggest economy is powering ahead despite trade-related business uncertainties. The office also revised up the quarterly growth rate for the first three months of the year to 0.4 percent from 0.3 percent. “Despite all of the prophecies of doom, the upswing is not only alive; it’s also kicking,” Bankhaus Lampe economist Alexan


The German economy picked up more steam than expected in the second quarter, driven by higher household and state spending, data showed on Tuesday, suggesting that Europe’s biggest economy is powering ahead despite trade-related business uncertainties. The office also revised up the quarterly growth rate for the first three months of the year to 0.4 percent from 0.3 percent. “Despite all of the prophecies of doom, the upswing is not only alive; it’s also kicking,” Bankhaus Lampe economist Alexan
‘Alive and kicking’: German economy shifts into higher gear Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-14
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'Alive and kicking': German economy shifts into higher gear

The German economy picked up more steam than expected in the second quarter, driven by higher household and state spending, data showed on Tuesday, suggesting that Europe’s biggest economy is powering ahead despite trade-related business uncertainties.

Gross domestic product expanded by 0.5 percent quarter-on-quarter, the Federal Statistics Office said. That compared with a Reuters forecast of 0.4 percent.

The office also revised up the quarterly growth rate for the first three months of the year to 0.4 percent from 0.3 percent.

“Despite all of the prophecies of doom, the upswing is not only alive; it’s also kicking,” Bankhaus Lampe economist Alexander Krueger said.

“For the time being, the upswing is unlikely to be stalled by the global trade dispute or overheating,” Krueger said. But he added that the conflict with the United States over tariffs was clouding the outlook for the second half of the year.


Company: cnbc, Activity: cnbc, Date: 2018-08-14
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business inventories may

U.S. business inventories rose steadily in May and sales recorded their biggest increase in eight months, government data showed on Monday. The Commerce Department said business inventories increased 0.4 percent after an unrevised 0.3 percent gain in April. Retail inventories increased 0.4 percent in May as reported in an advance estimate published last month. Retail inventories rose 0.4 percent in April. Auto inventories rose 0.8 percent in April.


U.S. business inventories rose steadily in May and sales recorded their biggest increase in eight months, government data showed on Monday. The Commerce Department said business inventories increased 0.4 percent after an unrevised 0.3 percent gain in April. Retail inventories increased 0.4 percent in May as reported in an advance estimate published last month. Retail inventories rose 0.4 percent in April. Auto inventories rose 0.8 percent in April.
business inventories may Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-13  Authors: daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, months, rose, 04, inventories, month, sales, business, increased, mays, gain, reported


business inventories may

U.S. business inventories rose steadily in May and sales recorded their biggest increase in eight months, government data showed on Monday.

The Commerce Department said business inventories increased 0.4 percent after an unrevised 0.3 percent gain in April. May’s rise in inventories, which are a key component of gross domestic product, was in line with economists’ expectations.

Retail inventories increased 0.4 percent in May as reported in an advance estimate published last month. Retail inventories rose 0.4 percent in April.

Motor vehicle inventories increased 0.9 percent in May and not 1.0 percent as reported last month. Auto inventories rose 0.8 percent in April.

Retail inventories excluding autos, which go into the calculation of GDP, edged up 0.1 percent in May as reported last month. They gained 0.2 percent in April.

Inventory investment was neutral to first-quarter economic growth. Economists expect a modest contribution from inventory accumulation to second-quarter growth.

Business sales jumped 1.4 percent in May, the biggest gain since September 2017, after increasing 0.6 percent in April.

At May’s sales pace, it would take 1.34 months for businesses to clear shelves. That was the smallest inventories/sales ratio since December 2014 and was down from 1.35 months in April.


Company: cnbc, Activity: cnbc, Date: 2018-07-13  Authors: daniel acker, bloomberg, getty images
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US retail sales rose 0.8% in May, vs 0.4% increase expected

The Commerce Department said on Thursday retail sales jumped 0.8 percent last month, the biggest advance since November 2017. Data for April was revised up to show sales rising 0.4 percent instead of the previously reported 0.2 percent gain. Economists polled by Reuters had forecast retail sales rising 0.4 percent in May. Retail sales in May increased 5.9 percent from a year ago. There were also increases in online retail sales, but receipts at furniture stores fell 2.4 percent, the largest drop


The Commerce Department said on Thursday retail sales jumped 0.8 percent last month, the biggest advance since November 2017. Data for April was revised up to show sales rising 0.4 percent instead of the previously reported 0.2 percent gain. Economists polled by Reuters had forecast retail sales rising 0.4 percent in May. Retail sales in May increased 5.9 percent from a year ago. There were also increases in online retail sales, but receipts at furniture stores fell 2.4 percent, the largest drop
US retail sales rose 0.8% in May, vs 0.4% increase expected Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-14  Authors: andrew harrer, bloomberg, getty images
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US retail sales rose 0.8% in May, vs 0.4% increase expected

U.S. retail sales increased more than expected in May as consumers bought motor vehicles and a range of other goods even as they paid more for gasoline, the latest indication of an acceleration in economic growth in the second quarter.

The Commerce Department said on Thursday retail sales jumped 0.8 percent last month, the biggest advance since November 2017. Data for April was revised up to show sales rising 0.4 percent instead of the previously reported 0.2 percent gain.

Economists polled by Reuters had forecast retail sales rising 0.4 percent in May. Retail sales in May increased 5.9 percent from a year ago.

Excluding automobiles, gasoline, building materials and food services, retail sales increased 0.5 percent last month after an upwardly revised 0.6 percent increase in April. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product. They were previously reported to have risen 0.5 percent in April.

The Federal Reserve raised interest rates on Wednesday for the second time this year. The U.S. central bank forecast two more rate hikes for 2018. The Fed said “economic activity has been rising at a solid rate” and “growth of household spending has picked up.”

The strong retail sales report added to data ranging from the labor market to manufacturing and trade in suggesting the economy was regaining momentum in the second quarter after growth slowed at the start of the year amid a sharp step-down in consumer spending.

Growth estimates for the April-June quarter are as high as a 4.6 percent annualized rate. The economy grew at a 2.2 percent rate in the first quarter.

In May, auto sales rose 0.5 percent after gaining 0.2 percent in April. Receipts at service stations surged 2.0 percent, reflecting higher gasoline prices. Prices at the pump have risen by 15.5 percent this year, according to U.S. Energy Information Administration data. Expensive gasoline, if sustained, could pull spending away from other categories.

Sales at building material stores rebounded 2.4 percent last month after declining 0.8 percent in April. Receipts at clothing stores surged 1.3 percent, the largest gain since March 2017. There were also increases in online retail sales, but receipts at furniture stores fell 2.4 percent, the largest drop since December 2013.

Sales at restaurants and bars jumped 1.3 percent, the biggest gains since January 2017.


Company: cnbc, Activity: cnbc, Date: 2018-06-14  Authors: andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, rose, vs, increase, month, 04, retail, rising, spending, rate, second, stores, receipts, expected, gasoline, 08, sales


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