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The Labor Department's closely watched employment report on Friday also showed the unemployment rate ticked up to 4.0% from 3.9% in April

US adds far more jobs than expected in May

US job growth accelerated far more than expected in May, keeping the Federal Reserve on track to hold off starting to cut interest rates until September at the earliest.

Business • 07 Jun 24

Job openings, a measure of labour demand, were down 296,000 to 8.059 million on the last day of April.

US job openings drop in April, as labour market cools

US job openings fell more than expected in April to the lowest in more than three years, a sign that labour market conditions are softening in a manner that could help the Federal Reserve's fight against inflation.

Business • 04 Jun 24

US GDP grew at an 1.3% annualised rate from January to March, new figures show

Q1 US economic growth revised lower, jobless claims rise

The US economy grew more slowly in the first quarter than previously estimated after downward revisions to consumer spending, the Commerce Department reported today.

Business • 30 May 24

Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 222,000 for the week ended May 11, new figures show

US weekly jobless claims fall; labour market easing

The number of Americans filing new claims for unemployment benefits fell last week, pointing to underlying strength in the labour market.

Business • 16 May 24

The US annual consumer price index came in at 3.4% in April, down 0.1 percentage point from March

US consumer inflation eases slightly in April

US consumer inflation eased slightly last month, according to US government data published today, a positive sign for President Joe Biden ahead of November's election.

Business • 15 May 24

Initial claims for state unemployment benefits increased 22,000 to a seasonally adjusted 231,000 for the week ended May 4

US weekly jobless claims increase more than expected

The number of Americans filing new claims for unemployment benefits increased more than expected last week as the labour market steadily eases.

Business • 09 May 24

US non-farm payrolls increased by 175,000 jobs in April, the Labor Department's Bureau of Statistics said in its closely watched employment report today

US job growth slows in April, jobless rate rises to 3.9%

US job growth slowed more than expected in April and annual wage gains cooled, but it is probably too early to expect that the Federal Reserve will start cutting interest rates before September as the labour market remains fairly tight.

Business • 03 May 24

The PCE price index is one of the inflation measures tracked by the US Fed for its 2% target

US inflation rises in line with expectations in March

US inflation rose moderately in March, but that is unlikely to change financial markets' expectations that the Federal Reserve will hold off cutting interest rates until September.

Business • 26 Apr 24

The US economy - the world's biggest economy - grew 1.6% in the first quarter, missing analysts' expectations of a larger 2.4% rise

US economic growth slows significantly in first quarter

The US economy cooled markedly in the first three months this year, expanding less than anticipated as consumer spending and exports decelerated, according to government data released today.

Business • 25 Apr 24

Initial claims for state unemployment benefits were unchanged at a seasonally adjusted 212,000 for the week ended April 13, the US Labor Department said

US weekly jobless claims remain at low level

The number of Americans filing new claims for unemployment benefits was unchanged at a low level last week, pointing to continued labour market strength.

Business • 18 Apr 24

US retail sales picked up by 0.7% in March to $709.6 billion, new figures show today

US retail sales up more than expected in March

Retail sales in the US grew more than anticipated last month, government data showed today, defying predictions of weaker consumer demand.

Business • 15 Apr 24

Nonfarm payrolls increased by 303,000 jobs last month

US job growth beats expectations in March

US employers hired far more workers than expected in March while raising wages, suggesting the economy ended the first quarter on solid ground and potentially delaying anticipated interest rate cuts from the Federal Reserve this year.

Business • 05 Apr 24

Powell repeats there is time to deliberate over rate cuts

Federal Reserve Chair Jerome Powell reiterated today that the US central bank has time to deliberate over its first interest rate cut given the strength of the economy and recent high inflation readings.

Business • 03 Apr 24

US GDP increased at a 3.4% annualised rate in the fourth quarter of 2023, revised up from the previously reported 3.2% pace

US fourth-quarter growth revised up to 3.4%

The US economy grew faster than previously estimated in the fourth quarter, lifted by strong consumer spending and business investment in nonresidential structures like factories.

Business • 28 Mar 24

US Federal Reserve sees three rate cuts in 2024

The US Federal Reserve held interest rates steady today, but policymakers indicated they still expect to reduce them by three-quarters of a percentage point by the end of 2024 despite stodgier expected progress towards its 2% inflation target.

Business • 21 Mar 24

Manufacturing output rebounded 0.8% last month after a downwardly revised 1.1% drop in the prior month

US factory production rebounds from weather-induced slump

Production at US factories increased more than expected in February amid a rise in temperatures, but data for the prior month was revised sharply down as manufacturing remains hamstrung by high interest rates.

Business • 15 Mar 24

The US personal consumption expenditures (PCE) price index rose 0.3% last month, new figures show today

US inflation increases in line with expectations in Janua

US prices picked up in January, but the annual increase in inflation was the smallest in nearly three years, keeping a June interest rate cut from the Federal Reserve on the table.

Business • 29 Feb 24

US GDP growth was revised to an annual rate of 3.2% in the final three months of 2023, from an initial estimate of 3.3% released last month

US fourth quarter GDP growth revised slightly lower

US economic growth was slightly weaker than previously estimated in the fourth quarter last year, according to government data released today, due mainly to a downward revision to business investment.

Business • 28 Feb 24

US retail sales fall by 0.8% in January, new figures show today

US retail sales fall in January, jobless claims decline

US retail sales fell more than expected in January, pulled down by declines in receipts at car dealerships and fuel service stations.

Business • 15 Feb 24

The US unemployment rate held steady at 3.7% for a third month in a row

US jobs market defies expectations of January slowdown

The US labour market smashed expectations last month in a surprise hiring pick-up, government data showed today, with a resilient jobs market likely good news for President Joe Biden in election year.

Business • 02 Feb 24

Gross domestic product in the last quarter increased at a 3.3% annualised rate.

US economy grew faster than expected in fourth quarter

The US economy grew faster than expected in the fourth quarter amid strong consumer spending, and defied dire predictions of a recession in 2023 after the Federal Reserve aggressively raised interest rates, with growth for the full year coming in at 2.5%.

Business • 25 Jan 24

US retail sales rose 0.6% last month, the Commerce Department's Census Bureau said today

US retail sales beat expectations in December

US retail sales increased more than expected in December as consumers stepped up purchases of motor vehicles and retailers offered discounts, keeping the economy on solid ground heading into the new year.

Business • 17 Jan 24

CEO Jane Fraser called the results "very disappointing".

Citigroup swings to $1.8bn loss on slew of charges

Citigroup has reported a $1.8 billion loss for the fourth quarter as it recorded charges to refill a government deposit insurance fund and carry out a sweeping internal reorganisation.

Business • 12 Jan 24

In the 12 months through December, the CPI rose 3.4% after increasing 3.1% in November.

US consumer prices rise more than expected in December

US consumer prices increased more than expected in December as rents maintained their upward trend, which could delay a much anticipated interest rate cut in March from the Federal Reserve.

Business • 11 Jan 24

Global GDP is likely to grow 2.4% this year, the World Bank forecast today in its latest Global Economic Prospects report

World Bank forecasts 2024 global growth to slow again

The World Bank has today warned that global growth in 2024 is set to slow for a third year in a row, prolonging poverty and debilitating debt levels in many developing countries.

Business • 09 Jan 24

Us Economy