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US economy slows sharply in June amid renewed downturn in demand, but inflationary pressures cool
Latest ‘flash’ PMI™ data from S&P Global signalled the weakest upturn in US private sector output since January’s Omicron-induced slowdown in June. The rise in activity was the second-softest since July 2020, with slower service sector output growth accompanied by the first contraction in manufacturing production in two years. The headline Flash US PMI Composite Output Index registered 51.2 in June, down from 53.6 in May. The decline in the index reading signalled further easing in the rate of expansion in business activity to a pace notably slower than March’s recent peak. Although service providers ... (full story)
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From bnnbloomberg.ca|Jun 23, 2022|4 commentsThe Bank of England said people holding £14.5 billion in old paper banknotes have just 100 days to spend or deposit the money before it becomes worthless. The UK central bank said ...
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From cmegroup.com|Jun 23, 2022CME Group, the world's leading derivatives marketplace, today announced that FX Link volume has reached a new, single-day record of 82,900 contracts (representing over $7.2 ...
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From dol.gov|Jun 23, 2022In the week ending June 18, the advance figure for seasonally adjusted initial claims was 229,000, a decrease of 2,000 from the previous week's revised level. The previous week's ...
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From @DeItaone|Jun 23, 2022tweet at 9:47am: BORRELL: WE MUST BE PREPARED FOR FURTHER GAS ISSUES. BORRELL: RUSSIA IS CUTTING GAS SUPPLY LITTLE BY LITTLE. BORRELL: WINTER WILL BE DIFFICULT IN RESPECT TO GAS.
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From youtube.com/cnbctelevision|Jun 23, 2022|5 commentsFederal Reserve Chair Jerome Powell on Thursday testifies before the House Financial Services Committee on the U.S. monetary policy and the state of the economy.
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From @DailyFXTeam|Jun 23, 2022|4 commentstweet at 10:29am: Fed's Powell: - We have an unconditional commitment to fighting inflation - The labor market is unsustainably hot tweet at 10:29am: POWELL: SIGNIFICANTLY MORE CHALLENGING TO BRING DOWN INFLATION WITHOUT IMPACTING THE LABOR MARKET tweet at 10:35am: FED'S POWELL Q&A: SOME OF INFL IS OUT OF FED'S CONTROL, LIKE ENERGY; EUROPEAN COUNTRIES HAVE VARYING HIGH RATES OF INFLATION; FED HAS TOOLS VS DEMAND #Powell #federalreserve tweet at 10:36am: Fed's Powell: - The impact of shrinking the balance sheet will be marginal compared to impact of rising interest rates - US inflation is a consequence of very strong demand tweet at 10:42am: POWELL: OUR INTENTION IS TO ACHIEVE A SOFT LANDING POWELL: PATH TO DO THAT HAS GOTTEN MORE AND MORE CHALLENGING
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- Posted: Jun 23, 2022 9:46am
- Submitted by:Category: High Impact Breaking NewsComments: 0 / Views: 3,049
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