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

U.S.

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*The economic data chart is for the U.S.

U.S. Personal Income Drops In October, But Personal Spending Rises

The Commerce Department released a report on Wednesday showing a decrease in U.S. personal income in the month of October. The report said personal income fell by 0.7 percent in October after climbing by a downwardly revised 0.7 percent in September. Read more...

U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated

Revised data released by the University of Michigan on Wednesday showed consumer sentiment in the U.S. deteriorated by slightly more than expected in the month of November. The report said the consumer sentiment index for November was downwardly revised to 76.9 from a preliminary reading of 77.0. Read more...

ECB: Banks Likely To Need More Loan Loss Provisioning

The European Central Bank said lenders might require higher loan loss provisioning amid missed payments and rising number of corporate defaults. In the latest Financial Stability Review, released Wednesday, the ECB said since the global financial crisis, weak profitability prospects continue to weigh... Read more...

U.S. / CANADA

U.S. New Home Sales Unexpectedly Dip 0.3% In October

New home sales in the U.S. unexpectedly edged lower in the month of October, according to a report released by the Commerce Department on Wednesday. The Commerce Department said new home sales dipped by 0.3 percent to an annual rate of 999,000 in October after inching up by 0.1 percent to a revised rate of 1.002 million in September. Read more...

U.S. Durable Goods Orders Jump 1.3% In October, More Than Expected

New orders for U.S. manufactured durable goods increased by more than expected in the month of October, the Commerce Department revealed in a report on Wednesday. The Commerce Department said durable goods orders jumped by 1.3 percent in October after spiking by 2.1 percent in September. Economists had expected durable goods orders to climb by 0.9 percent. Read more...

U.S. Weekly Jobless Claims Unexpectedly Climb To 778,000

Fist-time claims for U.S. unemployment benefits unexpectedly increased in the week ended November 21st, according to a report released by the Labor Department on Wednesday. The report said initial jobless claims climbed to 778,000, an increase of 30,000 from the previous week's revised level of 748,000. Read more...

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EUROPE

UK Chancellor Sunak Boosts Spending, Warns Of Economic Emergency

UK Chancellor of the Exchequer Rishi Sunak on Wednesday boosted spending on infrastructure and plans to create jobs for the unemployed as official forecasts pointed to the worst economic contraction in over 300 years due to the impact of the coronavirus pandemic. Read more...

Austria Production Index Decline Slows In September

Austria's production index declined at a softer pace in September, amid a fall in both industrial production and construction output, data from Statistics Austria showed on Wednesday. The production index decreased 1.4 percent year-on-year in September, following a 2.6 percent fall in August. Industrial... Read more...

Poland Jobless Rate Steady At 6.1%

Poland's jobless rate remained unchanged in October, data from Statistics Poland showed on Wednesday. The registered jobless rate was 6.1 percent in October, same as seen in September. This was in line with economists' expectation. In the same month last year, the unemployment rate was 5.1 percent. The... Read more...

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ASIA

Japan Govt Retains Economic View

Japan's government maintained its economic assessment on Wednesday but downgraded its view on capital spending. Retaining the economic view, the Cabinet Office said Japanese economy is still in a severe situation due to the Novel Coronavirus, but it is showing movements of picking up. Downgrading... Read more...

Japan Services PPI Falls In October

Japan's services producer prices declined in October, data from the Bank of Japan showed on Wednesday. The services producer price index fell 0.6 percent on a yearly basis, reversing a 1.4 percent rise in September. Month-on-month, producer price inflation eased to 0.1 percent in October from... Read more...

Malaysia Consumer Prices Continue To Fall In October

Malaysia's consumer prices continued to fall in October, data from the Department of Statistics showed on Wednesday. Consumer prices declined 1.5 percent year-on-year in October, following a 1.4 percent fall in September. Economists had expected a 1.4 percent decrease. The annual fall was largely... Read more...

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GLOBAL ECONOMICS

Spike In U.S. GDP In Third Quarter Unrevised At 33.1%

A report released by the Commerce Department on Wednesday showed the spike in gross domestic product in the third quarter was unrevised from the initial estimate. Read more...

U.S. Durable Goods Orders Jump More Than Expected In October

New orders for U.S. manufactured durable goods increased by more than expected in the month of October, the Commerce Department revealed in a report on Wednesday. Read more...

U.S. Weekly Jobless Claims Show Unexpected Increase

Fist-time claims for U.S. unemployment benefits unexpectedly increased in the week ended November 21st, according to a report released by the Labor Department on Wednesday. Read more...

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ECONOMIC CALENDAR

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Wednesday ,Nov.25