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China will not set an economic growth target for the first time in 2020, Premier Li Keqiang confirmed at the National People’s Congress on Friday in Beijing. The move was expected in some quarters, with the economy having contracted by 6.8 per cent in the
U.S. business activity shrank less in May than a month earlier in April as the economy began to emerge from coronavirus-related lockdowns, although output remained week. The HIS Markit composite index of purchasing managers at manufactures and service pro
U.S. Lawmakers plan to vote again next week on giving small businesses more time to use their coronavirus aid under the Paycheck Protection Program, Nancy Pelosi said on Wednesday.
U.S. homebuilding fell by the most on record in April and permits for future construction tumbled. Housing starts tumbled 30.2% to a seasonally adjusted annual rate of 891,000 units last month, the lowest level since early 2015.
Federal Reserve Chairman Jerome Powell said the central bank is prepared to use its full range of tools and leave the benchmark lending rate near zero until the economy has weather the full effects of the coronavirus.
The pound dipped in early trading Monday after a Bank of England official said the central bank is examining a range of unconventional policy tools, including negative interest rates. Asian stock futures pointed to a mixed start and U.S. contracts edged h
U.S. jobless claims continue to rise amid a second wave of layoffs with 2.981 million more Americans left unemployed for the week ended May 9th. This data suggests a second wave of layoffs in industries and jobs not initially impacted by business closures
U.S. Producer prices fell by the most since 2009 in April, leading to the largest annual decline in nearly 4.5 years, which could bolster some economist’s predictions for a brief period of deflation as the coronavirus weakens demand.
The Federal Reserve, which cut its primary interest rate to near zero on the 15th of March, isn’t anticipating the use of negative rates that have been tried in Europe and Japan, two Fed presidents said on Monday.
President Donald Trump says he resuscitated Barack Obama’s gasping economy and proceeded to build it to its strongest in generations. Now job losses mount across the country, an unemployment rate for April of 14.7 per cent, the highest since the 1930s, is