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US consumer sentiment weakens slightly
U.S. consumer confidence was weaker than initially thought in April, but was little changed from its five-month average. A final reading of U.S. consumer sentiment inched up 0.1% to 97 in April, from 96.9 the previous month, according to the University of Michigan. However, that was lower than the initial estimate and below economists forecasts of 97. For more, click here...
U.S. GDP report shows weak start to 2017
The U.S. economy grew at its weakest pace in three years in the first quarter as consumer spending almost stalled, but a surge in business investment and wage growth suggested activity would regain momentum as the year progresses. The soft patch at the start of the year is bad news for the Trump administration's ambitions to significantly boost growth. Gross domestic product increased at a 0.7% annual rate as the government further cut defense spending and businesses spent less on inventories, the Commerce Department said on Friday in its advance estimate. That was the weakest performance since the first quarter of 2014. For more, click here...
Consumer confidence lags in April
Consumers' assessment of current economic conditions fell in April, as fewer people believe business conditions are "good," according to the latest data from The Conference Board. The Consumer Confidence Index dropped to 120.3 in April, while economists were expecting the index to only fall to 122.9 for the month, according to Thomson Reuters consensus estimates. The closely monitored index last hit 125.6 in March, its highest level since December 2000. Prior to that, the index stood at 116.1 in February. For more, click here...
Canadian dollar falls sharply on consumer price data
The Canadian economy saw its slowest pickup in prices this year, according to the latest consumption data released by Statistics Canada today. The Consumer Price Index came in at 1.6% y/y, missing the expected 1.8% y/y. Core CPI declined along with the headline figure. The consumer price index (CPI) released by Statistics Canada serves as an indicator for consumer price trends in the Canadian economy. The index measures major components of consumer spending including food, shelter, household operations, transportation, and gasoline, among other items. Core consumer price index also measures components of consumer spending but eliminates food and price data because those prices tend to be more volatile on a month-to-month basis. Based on the results of CPI, a monetary authority may be inclined to adjust interest rates more frequently. Generally, higher prices indicate a rise in inflation and economic activity. For more, click here...
U.S. consumer prices fell in March
Consumer prices fell in March by the largest amount in more than two years, pushed lower by another sharp decline in the price of gasoline and other energy products. The Labor Department says the U.S. Consumer Price Index dropped 0.3% in March following a tiny 0.1% rise in February. It was the first monthly decline in 13 months and the biggest drop since prices fell 0.6% in January 2015. In addition to a 6.2% drop in gasoline prices, the cost of cellphone plans, new and used cars, and clothing were all lower last month. For more, click here...
U.S. consumer sentiment reaches highest point since 2000
Consumer sentiment advanced to a three-month high in April as Americans’ optimism about their current financial situation and the economy reached the strongest point since 2000, University of Michigan survey data showed Thursday. The preliminary sentiment index rose to 98 (forecast was 96.5) from 96.9 in March. The current conditions gauge, which measures Americans’ perceptions of their personal finances, increased to 115.2, the highest since November 2000, from 113.2 the prior month. For more, click here...
Report: Expect loonie to further slide vs. US dollar
The Canadian dollar will weaken in the coming months, as the Federal Reserve is expected to continue increasing rates while the Bank of Canada is bound to stay put, according to the currency’s highest-ranked forecasters. The loonie started strong in 2017, recovering from a 10-month low at the end of 2016 by taking advantage of January’s broad-based decline in the U.S. dollar. But it has faltered in recent weeks, reducing this year’s gain to 0.2%, making it the worst performer among Group of 10 currencies. For more, click here...
U.S. consumer sentiment lower than expected
A measure of consumer sentiment came in lower than expected on Friday, according to the University of Michigan. The University of Michigan Consumer Sentiment index hit 96.9 in March. A consensus from Thomson Reuters expected 97.6, unchanged from early March. For more, click here...
U.S. GDP slightly outperforms estimate
U.S. economic growth slowed less than previously reported in the fourth quarter amid robust consumer spending that was partially met with a rise in imports. Gross domestic product increased at a 2.1% annualized rate instead of the previously reported 1.9% pace, the Commerce Department said on Thursday in its third GDP estimate for the period. There are indications that activity moderated further at the start of 2017. For more, click here...
Consumer confidence leaps to 16-year high
Consumer confidence surged to a new 16-year high in March, fueled by strong job and wage growth, lofty stock prices and cheap gasoline. An index of Americans' perceptions of the economy and labor market jumped to 125.6 – highest since December 2000 -- from an upwardly revised 116.1 in February, the Conference Board said Tuesday. Economists expected a dip to 114, according to a Bloomberg survey. For more, click here...
Consumer sentiment in U.S. rises
Consumer confidence rose in March as Americans were more satisfied than any time in 16 years with the current state of their finances and the economy, while remaining sharply divided along party lines about the outlook. The University of Michigan said Friday that its preliminary index of sentiment increased to 97.6 from 96.3 in February. The median projection in a Bloomberg survey called for 97, with estimates ranging from 95 to 100. The index of current conditions jumped three points to 114.5, the highest reading since November 2000. For more, click here...
Fed raises interest rates
For the second time in three months, the Federal Reserve increased its benchmark interest rate a quarter point Wednesday amid rising confidence that the economy is poised for more robust growth. The move, widely anticipated by financial markets, takes the overnight funds rate to a target range of 0.75% to 1% and sets the Fed on a likely path of regular hikes ahead. Despite a well-telegraphed move, news of the rate hike pushed government bond yields lower while major averages in the stock market moved higher. For more, click here...
U.S. Consumer Price Index rose 0.1% in February
U.S. consumer prices rose at a slower pace in February. Clothing and housing costs rose last month, while motor vehicle and gasoline prices dipped. The Labor Department says consumer prices rose 0.1% in February, a sharp deceleration from the 0.6% jump in January. For more, click here...
Canadian economy blows away forecasts
The Canadian economy outperformed expectations in the final three months of 2016 by generating growth at an annual rate of 2.6%. Statistics Canada’s latest report on real gross domestic product says the biggest contribution to the fourth-quarter increase came from household consumption, which rose at an annual rate of 2.6%. For more, click here...
Yellen signals Fed likely to raise interest rates this month
Federal Reserve Chair Janet Yellen signaled Friday that the Fed will likely resume raising interest rates later this month to reflect a strengthening job market and inflation edging toward the central bank's 2% target rate. Yellen also said in a speech prepared for delivery in Chicago that the Fed expects steady economic improvement to justify additional rate increases. While not specifying how many rate hikes could occur this year, Yellen noted that Fed officials in December had estimated that there would be three in 2017. For more, click here...
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