Forex Blog

December 3, 2013

U.S. Construction Spending Increases Strongly

U.S. construction spending rose to its highest level in nearly 4-1/2 years in October as a rebound in public construction projects offset in drop in private outlays.

Construction spending increased 0.8 percent to an annual rate of $908.4 billion, the highest level since May 2009, the Commerce Department said on Monday. Economists polled by Reuters had expected an increase of 0.4 percent.

Construction spending fell 0.3 percent in September. The release of the September report was delayed by a 16-day partial shutdown of the government in October.  Construction spending in August was revised to show a 0.1 percent rise instead of the previously reported 0.6 percent increase.

Reuters

The post U.S. Construction Spending Increases Strongly appeared first on MarketPulse.

June 29, 2010

Japan’s Unemployment on the Rise, Spending Decreases

Analysts were caught off guard today on news that Japan’s unemployment rose to 5.2 percent in May from 5.1 percent the previous month. It was expected that unemployment would actually fall slightly to 5.0 percent in May.

Household spending fell 0.7 percent in May when compared to May 2009. Again, this was a surprise as the forecast called for a 0.4 percent increase year-over-year.

“Today’s reports show Japan’s economy is clearly slowing down” after growing at an annual 5 percent pace in the first quarter, said Kyohei Morita, chief Japan economist at Barclays Capital in Tokyo. “Consumer spending is weakening because the impact from government stimulus measures is fading.”

Source: Bloomberg

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