Economic News, US Economic News, Global Economic News, Economic Calendar

Serbia's central bank raised its key interest rate for the seventh straight time in its October meeting in order to cool rising inflationary pressures that is posing a threat to the current economic growth. The executive board decided to increase the reference rate by 50 bps to 4.00 percent, in line... Read more...

U.S. Weekly Jobless Claims Rebound More Than Expected

As the closely watched monthly jobs report looms, the Labor Department released a separate report on Thursday showing first-time claims for U.S. unemployment benefits rebounded by more than expected in the week ended October 1st. Read more...

Sri Lanka Central Bank Keeps Rate Unchanged

Sri Lanka central bank left its key interest rates unchanged for the second straight time on Thursday amid severe economic downturn and record high inflation. The Monetary Board of the Central Bank of Sri Lanka kept its standing lending facility rate at 15.50 percent and the standing deposit facility... Read more...

U.S. / CANADA

U.S. Weekly Jobless Claims Climb To 219,000

U.S. Services Index Indicates Slightly Slower Growth In September

The Institute for Supply Management released a report on Wednesday showing a modest slowdown in the pace of growth in U.S. service sector activity in the month of September. The ISM said its services PMI edged down to 56.7 in September from 56.9 in August, although a reading above 50 still indicates growth in the sector. Read more...

U.S. Trade Deficit Narrows To Smallest In Over A Year In August

With the value of imports showing a notable decrease, the Commerce Department released a report on Wednesday showing the U.S. trade deficit narrowed by more than expected in the month of August. The Commerce Department said the trade deficit narrowed to $67.4 billion in August from a revised $70.5 billion in July. Read more...

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EUROPE

Czech Retail Sales Fall For Fourth Month

The Czech Republic's retail sales declined for the fourth straight month in August, data from the Czech Statistical Office showed on Thursday. Retail sales, except motor vehicles and motor cycles, fell sharply by a calendar-adjusted 8.8 percent year-over-year in August, following a 7.9 percent decrease... Read more...

German Factory Orders Worse Than Expected

germanyindustrialproduction oct08 06oct22

Germany's factory orders declined more than expected in August on weak domestic and foreign demand reinforcing fears of a recession, official data showed Thursday. Manufacturing new orders decreased 2.4 percent month-on-month in August, reversing a revised 1.9 percent rise in July, Destatis reported. Economists had forecast a moderate 0.7 percent drop in August. Read more...

Spain Industrial Production Growth Improves Unexpectedly

Spain's industrial production growth improved unexpectedly in August, though slightly, data from the statistical office INE showed on Thursday. Industrial production climbed a seasonally and calendar-adjusted 5.5 percent year-over-year in August, just above the 5.4 percent rise in July. Meanwhile,... Read more...

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ASIA

Taiwan Inflation Rises More Than Forecast

Taiwan's consumer price inflation accelerated more-than-expected in September, after easing in the previous two months, data released by the Directorate General of Budget, Accounting & Statistics showed on Thursday. Consumer prices rose 2.75 percent year-on-year in September, following a 2.66 percent... Read more...

India Services Growth At 6-Month Low

India's service sector activity expanded at the weakest pace in six months in September, as output and new orders rose at a slower rate amid inflationary pressures and competitive conditions, survey results from S&P Global showed on Thursday. The services Purchasing Managers' Index dropped to 54.3... Read more...

Hong Kong Private Sector Slips Into Contraction - S&P Global

The private sector in Hong Kong fell into contraction territory in September, the latest survey from S&P Global revealed on Thursday with a PMI score of 48.0. That's down from 51.2 in August, and it moves beneath the boom-or-bust line of 50 that separates expansion from contraction. Contributing... Read more...

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GLOBAL ECONOMICS

Downturn Deepens In German Construction Sector

Germany's construction sector contracted at a faster pace in September, survey results from S&P Global showed on Thursday. The construction Purchasing Managers' Index fell to 41.8 from 42.6 in August. A reading below 50.0 indicates contraction. The latest score was the lowest since February 2021,... Read more...

Eurozone Retail Sales Fall Further In August

Eurozone retail sales decreased for the third straight month in August, though at a slower-than-expected rate, data published by Eurostat revealed on Thursday. The volume of retail sales dropped 0.3 percent month-over-month in August, following a 0.4 percent fall in July, which was revised from a... Read more...

Dutch Inflation Accelerates Further In September

The Netherlands' consumer price inflation continued to accelerate in September, mainly led by higher energy prices, data from the Central Bureau of Statistics showed on Thursday. The consumer price index rose 14.5 percent year-on-year in September, following an 12.0 percent increase in August. The... Read more...

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ANALYST COMMENTS

ECONOMIC CALENDAR

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Forecast

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Thursday ,Oct.6