The monthly employment report issued by payroll services company ADP suggests 170,000 new jobs were created in the U.S. for the month of January. This is somewhat lower than the 182,000 average taken from a survey of 40 economists.
Source: Reuters
February 1, 2012
January 19, 2011
TV Station says China to Report 4.6% Inflation
A television station in Hong Kong claims to have received leaked documents from Chinese officials indicating that China’s inflation for the year ending in December slowed from 5.1 percent in November to 4.6 percent. The station also reported that China’s Gross Domestic Product (GDP) grew by 10.3 percent for the year.
Source: BBC News
January 10, 2011
Dollar on the Rise
The dollar gained for the sixth straight day as optimism grows that the recovery strengthened in the past month. The euro meanwhile, faces downwards pressure as fears grow of another sovereign debt crisis in Portugal.
Source: Bloomberg
October 21, 2010
Geithner Proposal to Set “Sustainable” Trade Targets Rejected
A proposal by US Treasury Secretary Timothy Geithner to set “sustainable” targets for trade surpluses and deficits has been rejected by India, Russia, and Germany. Geithner’s proposal called for the setting of targets for trade surpluses and deficits as a way to rebalance the major economies.
Source: Reuters
February 4, 2010
US Productivity Rises 6.2%
The US Labor Department said today that productivity for the final three months of 2009 rose a seasonally-adjusted 6.2 percent. Labor costs also fell 4.4 percent during this time while hourly compensation rose 1.5 percent.
January 26, 2010
Japan’s Exports Rise, First Time Since Lehman Failure
Japan’s exports rose for the first time since the collapse of Lehman Brothers Holdings Inc., adding to signs that the world’s second-largest economy is recovering from the global recession.
Bloomberg
January 19, 2010
Bank of Canada Maintains 0.25% Overnight Target Rate
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent. According to the Bank, the global economy continues to strengthen but recovery remains dependent on “exceptional monetary and fiscal stimulus” together with the “extraordinary measures” already in place to support financial systems.
Bank of Canada Website
January 13, 2010
Germany’s Economy Shrinks by 5% in 2009
For the first time in six years, Germany’s economy suffered a contraction, losing a full 5 percent in 2009. A marked reduction in demand for Germany’s exports is largely responsible for the worst performance singe German reunification in 1993.
BBC News
January 11, 2010
German Exports Beat Forecasts
Germany’s exports for November marked the third consecutive increase coming in at a seasonally-adjusted 70.6 billion euros (US$101 billion). Despite the increase, China claimed the title of world’s largest exporter for the year with US$1.2 trillion in total exports.
BBC News
December 17, 2009
US New Jobless Claims Jump by 7,000
The number of new jobless claimants in the US rose last week to an unexpected 480,00 for the week ending December 12th from a revised 473,000 the week before.
“The level of new claims remains elevated,” said Steven Wood, president of Insight Economics LLC in Danville, California. “The labor market is improving, but remains soft.”
Bloomberg