Economy News

The U.S. Commerce Department is expected to report third-quarter gross domestic product this week. Analysts keenly await this measure, which is the broadest measure of economic output. Early indications point to a strong period of economic growth from July through ...

U.S. home sales dropped in September to the lowest level since the foreclosure crisis as surging interest rates and climbing home prices made buying a home more challenging.Historically low inventory of homes for sale continued to push prices up and ...

Oil prices on Friday climbed more than 4% after the U.S. tightened sanctions against Russian crude exports. The U.S. on Thursday imposed sanctions on two shipping companies carrying Russian crude that it said violated the G7′s oil price cap of ...

Last month, U.S. Federal Reserve representatives reached a consensus on maintaining elevated interest rates for an extended period as part of their strategy to combat inflation, as revealed in recently released meeting notes.The discussion also included whether it was the ...

A special OPEC+ panel recommended Wednesday that the oil cartel keep its current output reduction strategy unchanged after heavyweights Saudi Arabia and Russia vowed to maintain their cuts to keep prices elevated.The OPEC+ panel has no decision-making power but discusses ...

U.S. Treasury yields were little changed on Thursday, after pulling back from recent multi-year highs in the previous session, as investors waited for more economic data.The yield on the 10-year Treasury was down more than 1 basis point at 4.719%. ...

The index that tracks activity in the U.S. manufacturing industry showed a contraction for the 11th-consecutive month. However, the pace of contraction was the slowest in almost a year as companies prepare for traditionally higher consumer demand in the fourth ...

German inflation experienced a decline this month, reaching its lowest point since the onset of the Ukraine conflict. This provides a slight ray of optimism while Europe's leading economy battles to recover from a downturn.Russia's invasion of Ukraine last year, ...

A host of soft commodity prices have climbed in recent months, driven by weather-related damage and rising climate risks around the globe, resulting in tighter supplies. Futures contracts on orange juice, raw sugar, and cocoa each hit their highs for the ...

Most stock markets rose Friday, reversing early losses and a sell-off on Wall Street, as traders consider further interest rate hikes by central banks struggling to tame inflation.With officials from the United States to Switzerland warning that more tightening will ...

British inflation unexpectedly slowed in August, data showed Wednesday, hitting an 18-month low and sparking hope this week's widely-forecast interest rate hike by the Bank of England (BOE) could be its last for now.The Consumer Prices Index dropped slightly to ...

The Organization for Economic Co-operation and Development (OECD) raised its global economic outlook for 2023 on Tuesday but cut the growth forecast for next year as interest-rate hikes aimed at curbing inflation take their toll.The world economy is now expected ...

The European Central Bank (ECB) raised interest rates by a quarter of a percentage point to 4% Thursday and hinted it was done with its protracted campaign of rate hikes to tame stubborn inflation.The ECB has hiked its primary interest ...

Oil prices hit over $92 a barrel on Tuesday, marking the first time in almost 10 months, as concerns grew over potential supply issues due to severe flooding in Libya.Brent crude, a global measure, rose about 2%, reaching $92.38 a ...

China saw its exports drop 8.8% and imports decrease 7.3% in August, compared to last year, according to Thursday's customs report. This adds more strain to China's big manufacturing businesses as demand slows both domestically and internationally. A recent survey ...