New residential construction in the U.S. pulled back sharply in April but still came in well above economist estimates, according to a report released by the Commerce Department on Thursday. The Commerce Department said housing starts slumped by 2.8 percent to an annual rate of 1.465 million in April after soaring by 12 percent to an upwardly revised rate of 1.507 million in March.
The Labor Department released a report on Thursday showing first time-claims for U.S. unemployment benefits unexpectedly edged lower in the week ended May 16th. The report said initial jobless claims dipped to 209,000, a decrease of 3,000 from the previous week's revised level of 212,000. Economists had expected jobless claims to inch up to 213,000.
The European Commission downgraded its growth outlook for the euro area economy citing the unprecedented disruption to global energy markets due to the conflict in the Middle East. In the Spring Economic Forecast, the commission said the currency bloc is set to grow 0.9 percent this year, slower than the 1.2 percent projected earlier. The forecast for next year was trimmed to 1.2 percent from 1.
The euro area private sector registered a renewed contraction in April as the war in the Middle East took its toll on business activity, flash survey data from S&P Global showed Thursday. The flash composite output index logged 47.5 in May, down from 48.8 in the previous month. The score was expected to remain stable at 48.8.
The New Zealand dollar strengthened against other major currencies in the Asian session on Thursday, as Asian stock markets traded higher amid renewed optimism about a potential peace deal between the U.S. and Iran after U.S. President Trump said the U.S. was in the final stages of negotiations with...
The U.S. Dollar value slid as indications for ending the U.S.-Iran conflict through negotiations appear prospective. U.S. President Donald Trump expressed optimism that the conflict is in the final stage, and a deal could be reached soon.
While the Federal Reserve's decision to once again leave interest rates unchanged last month was widely anticipated, the vote on the decision and the accompanying statement was unusually divided. The minutes of the Fed's April 28-29, released Wednesday afternoon, provided some additional details about officials' mixed views about the outlook for rates.
U.K. consumer price inflation eased more than expected in April reflecting the fall in energy bills due to the price cap but the slowdown is expected to be temporary given the spike in oil prices amid the ongoing war in the Middle East. Consumer price inflation slowed to 2.8 percent in April from 3.3 percent in March, the Office for National Statistics said Wednesday.
Bank Indonesia raised its benchmark interest rates by a larger-than-expected half percentage points on Wednesday, as it struggles to stabilize the rupiah exchange rate amid geopolitical tensions. The board of governors, governed by Perry Warjiyo, decided to hike the BI rate by 50 basis points to 5.25 percent.
The New Zealand dollar weakened against other major currencies in the Asian session on Wednesday amid increased risk aversion by the inversion, as surging crude oil prices led to a sustained acceleration in the pace of inflation and continued to drive global bond yields higher, increasing the possibility...
Consumer and producer prices reports from the UK are due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK consumer and producer prices for April. Consumer price inflation is forecast to ease to 3.0 percent in April from 3.3 percent in March.
The U.S. Dollar value edged higher after the U.S. halted its planned attacks on Iran for today to facilitate negotiations. However, escalation concerns renewed after U.S. President Donald Trump stressed that strikes could restart anytime in the coming days if Iran is unable to strike a deal with the U.S.
The National Association of Realtors released a report on Tuesday showing pending home sales in the U.S. jumped by more than expected in the month of April. NAR said its pending home sales index shot up by 1.4 percent to 74.8 in April after surging by 1.7 percent to an upwardly revised 73.8 in March. Economists had expected pending home sales to increase by 0.9 percent.
The U.S. Dollar value inched lower after reports indicated that Iran has sent a new 14-point peace proposal to the U.S. through Pakistan to end the war which boosted investor sentiments. In addition, the U.S. halted its planned attack on Iran for tomorrow at the request of Gulf leaders, reducing war concerns.
After reporting a notable deterioration in U.S. homebuilder confidence in the previous month, the National Association of Home Builders released a report on Monday showing an unexpected improvement in homebuilder confidence in the month of May. The report said the NAHB/Wells Fargo Housing Market Index climbed to 37 in May after slumping to a seven-month low of 34 in April.
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.