Economic News

Members of the Federal Reserve are in no rush to alter the path of interest rates, according to the minutes of the central bank's latest monetary policy meeting. The minutes showed members agreed that a patient approach to determining future adjustments to rates would likely remain appropriate for "some time." Read more...

Italy is forecast to expand less than previously estimated this year, according to the latest Economic Outlook published by the statistical office Istat. Gross domestic product is expected to grow 0.3 percent in 2019, which was revised down sharply from 1.3 percent projected in November. The estimate... Read more...

UK's public sector net borrowing in April was the lowest for the month since 2007, preliminary data from the Office for National Statistics showed on Wednesday. Public sector net borrowing, or PSNB, excluding public sector banks was GBP 5.8 billion, which was 0.03 billion less than a year ago. Net... Read more...

Existing home sales in the U.S. unexpectedly showed a modest decrease in the month of April, according to a report released by the National Association of Realtors on Tuesday. NAR said existing home sales dipped by 0.4 percent to an annual rate of 5.19 million in April. Read more...

The Organization for Economic Co-operation and Development lowered the 2019 global growth outlook as escalating trade disputes hurt manufacturing and investment decisions. In its latest Economic Outlook, published Tuesday, the Paris-based think tank forecast 3.2 percent growth for 2019 versus 3.3 percent estimated in March. The global growth outlook for 2020 was retained at 3.4 percent. Read more...

The Organization for Economic Co-operation and Development downgraded the global growth outlook for 2019 as trade disputes hurt manufacturing and investment decisions. In its latest Economic Outlook, published Tuesday, the agency forecast 3.2 percent growth for 2019 instead of 3.3 percent estimated... Read more...