GDP could decline by 42% in the second quarter, according to the Atlanta Fed
The Bronx Chamber of Commerce is worried the retail vacancy rate will skyrocket due to the shutdown caused by the pandemic. Spencer Kimball | US The already dismal outlook for economic growth during the current period just got considerably worse....
This breakdown of retail sales data shows why Amazon is leading the stock market
Consumer spending plunged by a record 16.4% in April, but one category saw a bounce: nonstore retailers. Included in this category, which saw an 8.4% month-over-month increase, is online shopping. With much of the country under shelter-in-place orders during April,...
Consumer sentiment unexpectedly rises after massive U.S. fiscal stimulus
U.S. consumer sentiment inched higher in the early part of May after massive stimulus measures undertaken by the government to sustain the economy amid the coronavirus pandemic, according to data released Friday. The University of Michigan’s consumer sentiment index came...
This is the critical link to successfully reopening the US economy
US President Donald Trump participates in a meeting with Supply Chain Distributors to discuss the response to COVID-19 at the White House in Washington, DC, on March 29, 2020. Jim Watson | AFP | Getty Images The successful relaunch of...
Japan Set to Enter Recession but Hope for Rebound as State of Emergency Lifted
GDP numbers out of Japan will be headlining the start of the trading week as first quarter growth estimates are published on Monday local time (Sunday, 23:50 GMT). The world’s third largest economy is expected to have contracted for the...
Week Ahead – Reopening Woes and Trade Fears Dent Sentiment
The coming week seems relatively quiet. The preliminary PMIs for April in the UK, US, and Eurozone will give us an update on how much businesses have suffered, while the minutes of the latest Fed meeting might reaffirm the central...
Industrial production plunges unprecedented 11.2% in April
American industry suffered the most severe plunge on record last month with factories, mines and utilities battered by the coronavirus pandemic. The Federal Reserve said Friday that its industrial production index tumbled a record 11.2% in April. Manufacturing output also...
Retail sales plunge a record 16.4% in April, far worse than predicted
Consumer spending tumbled a record 16.4% in April as the backbone of the U.S. economy retrenched amid the coronavirus pandemic, according to a government report Friday. Economists surveyed by Dow Jones expected the advanced retail sales number to fall 12.3%...
Dollar Down Again of Record Retails Sales Fall, Gold Shines
Dollar weakens notably in early US session after retail sales data showed another record decline in April. Stock futures also tumble after the news In particular, gold rides on the greenback’s selloff and it’s set to resume larger up trend....
Treasury yields fall after retail spending drops the most on record amid pandemic
U.S. government debt yields moved lower Friday as investors digested more somber economic data. The yield on the benchmark 10-year Treasury note fell 2 basis points to 0.595% while the yield on the 30-year Treasury bond also declined 4 basis...
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