Chinese exports declined unexpectedly, while growth in imports accelerated in February, taking the trade balance surprisingly to a negative zone. Exports declined sharply by 18.1 percent, reversing the 10.6 percent increase in January, data from the General Administration of Customs showed Saturday. The decline was in contrast to a 7.5 percent rise forecast by economists.
With an increase in non-revolving credit more than offsetting a modest drop in revolving credit, the Federal Reserve released a report on Friday showing that U.S. consumer credit rose roughly in line with economist estimates in January. The report said consumer credit increased by $13.7 billion in January following a downwardly revised $15.9 billion increase in December.
The dollar steadied after hitting a yearly low against the euro on Friday, as strong U.S. jobs report cemented expectations the Federal Reserve will continue to taper monetary stimulus.
The U.S. economy generated 175,000 jobs in February despite rough winter weather, 25,000 more than forecast, the...
With imports increasing by slightly more than exports, the Commerce Department released a report on Friday showing that the U.S. trade deficit edged wider in the month of January. The report showed that the trade deficit widened to $39.1 billion in January from a revised $39.0 billion in December.
Employment in the U.S. increased by more than anticipated in the month of February, according to a report released by the Labor Department on Friday, although the unemployment rate still unexpectedly ticked higher. The Labor Department said non-farm payroll employment rose by 175,000 jobs in February compared to economist estimates for an increase of about 150,000 jobs.
German industrial production increased for a third straight month in January, as a mild winter boosted construction output, and signaled accelerating momentum in euro area's biggest economy. Industrial production rose a seasonally-and-calendar-adjusted 0.8 percent month-on-month, following a 0.1 percent rise in December, which was revised from a 0.6 percent fall.
The dollar weakened on Thursday, falling sharply versus the euro amid increased risk appetite and hawkish signals from European Central Bank.
Following yesterday's better-than-expected euro zone GDP report, ECB President Mario Draghi hinted that policy makers have no plans for further monetary stimulus.
New orders for U.S. manufactured goods fell by more than expected in the month of January, according to a report released by the Commerce Department on Thursday. The report said factory orders dropped by 0.7 percent in January after tumbling by a revised 2.0 percent in December. Economists had expected orders to decrease by 0.5 percent.
European Central Bank President Mario Draghi said on Thursday that the moderate recovery in the euro area is proceeding at a gradual pace, in sync with the bank's assessment, and inflation is expected to remain low for a prolonged period. "Incoming information confirms that the moderate recovery of the euro area economy is proceeding in line with our previous assessment," Draghi said in Frankfurt.
With output rising by much less than previously estimated, the Labor Department released a report on Thursday showing a notable downward revision to the pace of labor productivity growth in the fourth quarter of 2013.
In an upbeat sign for the labor market ahead of tomorrow's monthly jobs report, the Labor Department released a report on Thursday showing that first-time claims for U.S. unemployment benefits fell by more than expected in the week ended March 1st. The report said initial jobless claims dropped to 323,000, a decrease of 26,000 from the previous week's revised figure of 349,000.
The European Central Bank left its interest rates unchanged on Thursday after recent indicators signaled stabilizing economic conditions in the single currency bloc. Following the policy meeting in Frankfurt, the Governing Council decided to leave the main refinancing rate unchanged at a record low 0.25 percent. The decision was in line with economists' expectations.
The Bank of England policymakers kept the record-low interest rate unchanged, sticking to the forward guidance, and decided to refrain from any action that risks recovery. The nine-member rate-setting committee headed by Governor Mark Carney retained the interest rate at a historic low 0.50 percent and the quantitative easing programme unchanged at GBP 375 billion.
The European Central Bank is likely to maintain status quo on Thursday after recent indicators signaled stabilizing economic conditions. Following the policy meeting in Frankfurt on Thursday, the Governing Council is expected to hold the main refinancing rate at a record low 0.25 percent for a fourth month in a row. The announcement is due at 7.45 am ET.
The Bank of England's monetary policy meeting is likely to be a 'non-event', with policymakers expected to pledge a low interest rate regime and refrain from any action that risks recovery. The nine-member rate-setting committee is expected to retain the interest rate at a historic low 0.50 percent and its quantitative easing programme unchanged at GBP 375 billion.