UK retail sales unexpectedly surges 2.3% in April, hits 8-month high

A surprise surge in retail sales in April helped push the pound to its highest level in eight months as Britain’s consumers shrugged off concerns over falling living standards. Warm weather and the Easter holidays encouraged shoppers back onto UK high streets, with retail sales up 2.3% over the month according to the Office for National Statistics. It was more than double the 1% rise forecast by economists, and the biggest monthly rise since January 2016…

U.S. manufacturing production jump to over 3-year high in April

U.S. manufacturing production recorded its biggest increase in more than three years in April, bolstering the view that economic growth picked up early in the second quarter despite a surprise decline in homebuilding. The broad strength in factory output reported by the Federal Reserve on Tuesday added to labor market data in suggesting the growth slowdown in the first quarter was temporary. That may allow the U.S. central bank to raise interest rates next month…

U.S. CPI rises 0.2% in April amid rising cost of gasoline, food and rents

WASHINGTON – U.S. consumer prices rebounded in April amid increases in the cost of gasoline, food and rents, pointing to steadily rising inflation that could keep the Federal Reserve on track to raise interest rates next month. The Labor Department said on Friday its Consumer Price Index rose 0.2 percent after dropping 0.3 percent in March. The rise in prices suggested that March’s drop, which was the first in 13 months, was an aberration…

U.S. jobless claims unexpectedly falls, producer prices up 0.5%

New applications for U.S. jobless benefits unexpectedly fell last week while producer prices rebounded strongly in April, pointing to a tightening labor market and rising inflation that could spur the Federal Reserve to raise interest rates in June. Labor market strength was also underscored by a sharp drop in the number of Americans on unemployment rolls to a 28-1/2-year low in the final week of April…

U.S. import prices jump to 0.5% in April, boosted by petroleum, motor vehicles

U.S. import prices increased more than expected in April amid rising costs for petroleum products and a range of other goods, which could help boost domestic inflation. The Labor Department said on Wednesday that import prices jumped 0.5 percent last month after an upwardly revised 0.1 percent gain in March. Import prices have now increased for five straight months…

U.S. nonfarm payroll employment rises by 211,000 jobs in April, jobless rate hits 4.4%

U.S. job growth rebounded sharply in April and the unemployment rate dropped to 4.4 percent, near a 10-year low, pointing to a tightening labor market that could seal the case for an interest rate increase next month despite moderate wage growth. Nonfarm payrolls surged by 211,000 jobs last month, the Labor Department said on Friday, well above the monthly average of 185,000 this year and a jump from the gain of 79,000 in March…

U.S. unemployment rate drops to 4.4$, lowest level in 10 years

America’s job market rebounded in April. The unemployment rate dropped to 4.4%, its lowest level since May 2007. America added a solid 211,000 jobs in April, far surpassing the disappointing 79,000 jobs gained in March, according to Labor Department figures released Friday. “It’s a very strong report,” says Michael Arone, chief investment strategist at State Street Global Advisors. “We’re nearing full employment in the US economy.”…

U.S. job growth rebounded sharply in April, unemployment rate nears decade low

The nation’s economy is still on a strong upward trajectory, according to the latest monthly report from the Department of Labor, which showed an increase of 211,000 jobs for the month of April. Unemployment fell to 4.4 percent, its lowest level since May 2007. April’s strong showing puts economic growth firmly back on track after a miserable March, when only 79,000 jobs were added (revised down from 98,000), and paves the way for the Federal Reserve to hike up the interest rate next month…

U.S. private sector hiring slows slightly in April, services sector expands to 57.5

U.S. companies hired workers at a slower but still-solid pace in April, while the domestic services sector grew more than expected, supporting the notion the economic expansion remains on track despite a weak first quarter, private data released on Wednesday showed. An improving labor market and faster activity in services industries last month also buttressed traders’ expectations the Federal Reserve would raise interest rates further in the coming months…

U.S. ISM manufacturing PMI hits 54.8% in April

American manufacturing is having a moment. Job gains are up so far this year after being down last year. The latest industry figures released Monday show factory owners are feeling good. The ISM manufacturing index — a key measure of the industry’s health — showed manufacturing grew for the eighth straight month. The index hit 54.8% in April. Any reading above 50% means the sector grew and anything below that mark means it shrunk…

Chinese economy cools in April as Beijing tries to rein in property and credit boom

China’s economy has shown more signs of cooling with key barometers from its manufacturing and services sectors dipping in April. The latest data comes as Beijing attempts to rein in a booming property market and rapid credit growth. Two surveys on Sunday suggested activity in the world’s second largest economy eased back in April. Manufacturing slowed more than expected as demand was hit by government moves to curb risks associated with a run of high borrowing in China…

U.S. factory activity cools slightly in April; March inflation falls

U.S. factory activity slowed in April while consumer spending was unchanged in March and a key inflation measure recorded its first monthly drop since 2001, but economists still expect an interest rate increase in June as the labor market tightens. The weak reports on Monday came ahead of the Federal Reserve’s two-day policy meeting on Tuesday. The U.S. central bank is not expected to raise interest rates at the end of the meeting on Wednesday. The reports did little to change expectations of a rate hike in June…

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