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US Construction Spending Up 10.7% YOY in February
Construction spending during February 2024 was estimated at a seasonally adjusted annual rate of $2,091.5 billion, 0.3% below the revised January estimate of $2,096.9 billion, according to the U.S. Census Bureau. The February figure is 10.7% above the February 2023 estimate of $1,889.6 billion. During the first two months of this year, construction spending amounted to $298.1 billion, 11.9% above the $266.5 billion for the same period in 2023. Spending on private construction was at a seasonally adjusted annual rate of $1,617.1 billion, virtually unchanged from the revised January estimate of $1,616.8 billion. ... (full story)
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A nearly $1 billion Powerball jackpot will tempt lottery players Monday night who think they just might hit it rich after three months without a big winner. No one has won ...
Economic activity in the manufacturing sector expanded in March after contracting for 16 consecutive months, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®. The report was issued today by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee: "The Manufacturing PMI® registered 50.3 percent in March, up 2.5 percentage points from the 47.8 percent recorded in February. The overall economy continued in expansion for the 47th month after one month of contraction in April 2020. (A Manufacturing PMI® above 42.5 percent, over a period of time, generally indicates an expansion of the overall economy.) The New Orders Index moved back into expansion territory at 51.4 percent, 2.2 percentage points higher than the 49.2 percent recorded in February. The March reading of the Production Index (54.6 percent) is 6.2 percentage points higher than February's figure of 48.4 percent. The Prices Index registered 55.8 percent, up 3.3 percentage points compared to the reading of 52.5 percent in February. T post: *US ISM FACTORY INDEX SHOWS FIRST EXPANSION SINCE SEPT. 2022
Signs of improving wider economic conditions and market demand fed through to a further expansion of US manufacturing production in March, with the rate of expansion hitting a ...
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Business sentiment and sales growth expectations have stopped falling, according to firms responding to the Business Outlook Survey and the Business Leaders’ Pulse. But demand remains subdued, which is allowing price pressures and the labour market to ease. As a result, fewer firms than in the previous survey are planning unusually large or frequent price increases over the next 12 months. Overview • Firms reported that demand remains weak overall. But there are some signs of returning optimism. Namely, indicators of business conditions, sales outlooks and employment intentions have changed direction after many quarters of decline. In the wake of weak past sales growth, expectations for improved sales are supported by population growth, efforts to enter new markets or develop new products, and expectations that interest rates will decline over the next 12 months.Canadian Survey of Consumer Expectations - First Quarter of 2024 Consumers believe inflation has slowed, but their expectations for inflation in the near term have barely changed. Consumers link their perceptions of slowing inflation with their own experiences of price changes for frequently purchased items, such as food and gas. • Expectations for long-term inflation have increased, though they remain below their historical average. Relative to last quarter, consumers now think that factors contributing to high inflation—particularly high government spending and elevated home prices and rent costs—will take longer to resolve. • Canadians continue to feel the negative impacts of high inflation and high interest rates on their budgets, and nearly two-thirds are cutting or postponing spending in response. Although weak, consumer sentiment improved this quarter, with people expecting lower interest rates. As a result, consumers are less pessimistic about the future of the economy and their financial situation, and fewer think they will need to further cut or postpone spending. post: BOC SURVEY: 40% OF FIRMS EXPECT INFLATION TO REMAIN ABOVE 3% FOR THE NEXT TWO YEARS, DOWN FROM 54% IN Q4. post: BOC SURVEY: 27% OF FIRMS EXPECT CANADA TO BE IN A RECESSION OVER THE NEXT YEAR, DOWN FROM 38% IN Q4. post: BOC SURVEY: OVERALL Q1 BUSINESS SURVEY INDICATOR -2.42, Q4 WAS -3.09 (REVISED FROM -3.15).
Foreign currency analysts at Credit Agricole, in a recent forecast piece, suggest the ECB could adopt a more dovish stance than the Fed in 2024, influencing the EUR/USD exchange ...
The Swiss National Bank needs to spend roughly 27 billion francs ($30 billion) to keep its currency from appreciating 1.1%, according to a staff paper that offers a rare vignette ...
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- Posted: Apr 1, 2024 10:27am
- Submitted by:Category: Low Impact Breaking NewsComments: 0 / Views: 2,198
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