Wholesale prices rose more than expected in January, further complicating the inflation picture, according to a U.S. Department of Labor report Friday.The producer price index, a measure of prices received by producers of domestic goods and services, rose 0.3% for the month, the biggest move since August. Economists surveyed by...
Category: Economy
Retail sales tumbled 0.8% in January, much more than expected
Consumer spending fell sharply in January, presenting a potential early danger sign for the economy, the Commerce Department reported Thursday.Advance retail sales declined 0.8% for the month following a downwardly revised 0.4% gain in December, according to the Census Bureau. A decrease had been expected: Economists surveyed by Dow Jones...
Brexit Britain has ‘significantly underperformed’ other advanced economies, Goldman Sachs says
Pro-EU demonstrators protest outside Parliament against Brexit on the fourth anniversary of Britain's official departure from the European Union in London, United Kingdom on January 31, 2024.Future Publishing | Getty ImagesLONDON — Post-Brexit Britain has "significantly underperformed" other advanced economies since the 2016 EU referendum, according to new analysis from...
El-Erian, Krugman and other economists have very different opinions on China’s struggling economy
Many Chinese developers have halted or delayed construction on presold homes due to cash flow problems. Pictured here is a property construction site in Jiangsu province, China, on Oct. 17, 2022.Future Publishing | Future Publishing | Getty ImagesChina's economy is sputtering.Its property market is crumbling, deflationary pressures are spreading across...
Inflation in December was even lower than first reported, the government says
People shop in a supermarket in the Manhattan borough of New York city on January 27, 2024.Charly Triballeau | AFP | Getty ImagesThe prices consumers pay in the marketplace rose at an even slower pace than originally reported, according to closely watched revisions the government released Friday.Updates to the consumer...