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

U.S.

3m 6m 1y

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

Italy Industrial Turnover Increases In March

Italy's industrial turnover rose for the third straight month in March, data from the statistical office Istat showed on Thursday. Industrial turnover increased 2.4 percent month-on-month in March, after a 2.9 percent growth in February. Domestic turnover rose 2.6 percent monthly in March, the... Read more...

U.S. Jobless Claims Pull Back From Nearly Four-Month High

After reporting first-time claims for U.S. unemployment benefits at their highest level in almost four months in the previous week, the Labor Department released a report on Thursday showing initial jobless claims pulled back by more than expected in the week ended May 21st. Read more...

Hong Kong Exports Recover In April

Hong Kong's merchandise exports and imports recovered in April, data from the Census and Statistics Department showed on Thursday. Exports grew 1.1 percent year-on-year in April, after an 8.9 percent decrease in March. Similarly, imports gained 2.1 percent annually in April, after a 6.0 percent... Read more...

U.S. / CANADA

U.S. Weekly Jobless Claims Edge Down More Than Expected

After reporting first-time claims for U.S. unemployment benefits at their highest level in almost four months in the previous week, the Labor Department released a report on Thursday showing jobless claims pulled back by more than expected in the week ended May 21st. Read more...

U.S. GDP Slumps By Slightly More Than Previously Estimated In Q1

Economic activity in the U.S. slumped by slightly more than previously estimated in the first quarter of 2022, according to revised data released by the Commerce Department on Thursday. Read more...

Fed Minutes Hint At More 50 Basis Point Interest Rate Hikes

With inflation remaining stubbornly elevated, the minutes of the Federal Reserve's latest monetary policy meeting showed the central bank intends to move "expeditiously" to a more neutral monetary policy stance. The minutes revealed the Fed plans to use both interest rate increases and reductions in the size of its balance sheet to achieve a neutral posture. Read more...

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EUROPE

Hungary Unemployment Rate Declines Further

Hungary's unemployment rate declined further in the February to April period, while it remained stable for the month of April, data from the Hungarian Central Statistical Office showed on Thursday. The jobless rate fell to 3.5 percent in February to April period from 3.7 percent during January-March.... Read more...

UK Car Production Declines On Chip Shortage, Model Changes: SMMT

UK car production declined in April largely due to the shortage of semi-conductors, the impact of the war in Ukraine on supply chains, model changes and structural changes in industry, the Society of Motor Manufacturers and Traders, or SMMT, said on Thursday. Car production decreased 11.3 percent... Read more...

Russia Slashes Key Rate By 300 Bps

Russia's central bank slashed its key interest rate sharply by 300 basis points, on Thursday, citing a slowdown in inflation and the recovery in the currency exchange rate. At an emergency meeting, the Board of Directors of Bank of Russia decided to cut the benchmark rate to 11.00 percent from 14.00 percent. Read more...

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ASIA

Singapore Industrial Production Rises At Faster Pace

Singapore's industrial production increased at a faster pace in April, data from the Economic Development Board showed on Thursday. Industrial output rose 6.2 percent year-on-year in April, after a 5.1 percent growth in March. Economists had forecast a growth of 5.1 percent. Excluding biomedical... Read more...

Bank Of Korea Raises Key Rate For Second Straight Time

The Bank of Korea lifted its key interest rate by a quarter point for the second straight meeting to tackle high inflation. At the first rate setting meeting of Governor Rhee Chang-yong, the Monetary Policy Board decided to lift the Base Rate by 25 basis points to 1.75 percent from 1.50 percent. Read more...

South Korea Rate Decision Due On Thursday

The Bank of Korea will wrap up its monetary policy meeting on Thursday and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity. The central bank is expected to hike its benchmark lending rate by 25 basis points, from 1.50 percent to 1.75 percent. Australia... Read more...

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GLOBAL ECONOMICS

Turkey Central Bank Holds Key Rate As Expected

Turkey's central bank left its key interest rate unchanged for the fifth straight meeting despite surging inflation. The Monetary Policy Committee of the Central Bank of the Republic of Turkey, governed by Sahap Kavcioglu, decided to retain the one-week repo rate at 14.00 percent. The outcome of... Read more...

Turkey Economic Confidence Improves In May

Turkey's economic confidence improved in May, survey results from the Turkish Statistical Institute showed on Thursday. The economic sentiment index rose to 96.7 in May from 94.7 in the previous month. The growth was driven by the rise in consumer, services and retail trade confidence indices. The... Read more...

European Economics Preview: Italy Business Confidence Data Due

Business and consumer confidence survey results from Italy are due on Thursday, headlining a light day for the European economic news. At 3.00 am ET, Turkey economic confidence survey data is due. In the meantime, unemployment data is due from Hungary. Read more...

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ECONOMIC CALENDAR

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Thursday ,May.26