Economy

Shell gas station prices are seen on May 30, 2023 in Austin, Texas. Brandon Bell | Getty Images Consumers are growing more optimistic that inflation is on the way down, according to a New York Federal Reserve survey released Monday. The central bank’s monthly Survey of Consumer Expectations for May showed one-year inflation expectations down

The inflation rate cooled in May to its lowest annual rate in about two years, the Labor Department reported Tuesday. The consumer price index, which measures changes in a multitude of goods and services, increased just 0.1% for the month, bringing the annual level down to 4%. That 12-month increase was the smallest since March

The U.K. Treasury building. Matthew Lloyd | Bloomberg | Getty Images LONDON — U.K. borrowing costs, as measured by the yield on short-dated government bonds, rose above levels last seen following Britain’s market-destabilizing “mini-budget” after labor market data showed rising wage growth on Tuesday. The yield on two-year gilts hit 4.754% at 10:13 a.m. London

Gas prices on a sign at a Shell gas station in San Francisco, California, US, on Tuesday, May 23, 2023. Bloomberg | Bloomberg | Getty Images Inflation data from May will show that the price increases that have been bedeviling consumers for the past two years are slowing down. The question, though, will be whether

The German economy entered a recession in the first quarter. Bloomberg | Bloomberg | Getty Images The euro zone entered a recession in the first quarter of this year, and economists are not optimistic for the coming months. The 20-member bloc reported a gross domestic product of -0.1% in the first quarter, according to revised

First-time jobless claims rose sharply last week in a potential sign that the labor market is softening up after more than a year of interest rate hikes. Initial filings for unemployment benefits totaled a seasonally adjusted 261,000 for the week ended June 3, an increase of 28,000 from the upwardly revised level of the previous

The World Bank says global growth has sharply slowed amid ongoing high inflation and overhangs of the banking crisis result in worsening credit conditions. Growth forecasts for advanced economies project just 0.7% increase this year, down from 2.6% estimated growth in 2022. This marks “one of the weakest growth rates in the last five decades,”

The U.S. economy continued to crank out jobs in May, with nonfarm payrolls surging more than expected despite multiple headwinds, the Labor Department reported Friday. Payrolls in the public and private sector increased by 339,000 for the month, better than the 190,000 Dow Jones estimate and marking the 29th straight month of positive job growth.

A waiter works at a restaurant in Alexandria, Virginia, on June 3, 2022. Olivier Douliery | AFP | Getty Images The U.S. payrolls report for May blew past expectations, supported by strong jobs gains in the professional and business services sector — as well as a jump in government employment. Professional and business services led

Steve Debenport | E+ | Getty Images The U.S. unemployment rate rose in May, but declined for Hispanic workers, according to the latest nonfarm payrolls report. The overall unemployment rate last month was 3.7%, a gain of 0.3 percentage points from the prior month. However, Hispanic or Latina women saw their unemployment rate fall to

The U.S. labor market posted another month of surprising strength in May as companies added jobs at a pace well above expectations, according to a report Thursday from payroll processing firm ADP. Private sector employment increased by a seasonally adjusted 278,000 for the month, ahead of the Dow Jones estimate for 180,000 and a bit

Construction workers on a job site on May 05, 2023 in Miami, Florida. Joe Raedle | Getty Images Watching the monthly jobs reports this year has been something of a waiting exercise, with economists and market participants looking for a downturn that never seems to arrive. That scenario is likely to recur Friday when the

Traders work on the floor of the New York Stock Exchange during morning trading on May 17, 2023 in New York City.  Michael M. Santiago | Getty Images A U.S. recession may prevent a steep market downturn in the second half of 2023, according to Michael Yoshikami, founder and CEO of Destination Wealth Management. U.S.

Inflation stayed stubbornly high in April, potentially reinforcing the chances that interest rates could stay higher for longer, according to a gauge released Friday that the Federal Reserve follows closely. The personal consumption expenditures price index, which measures a variety of goods and services and adjusts for changes in consumer behavior, rose 0.4% for the

In this article NVDA .IXIC .SPX Follow your favorite stocksCREATE FREE ACCOUNT A Nvidia logo is seen on the company’s building at an industry park on February 7, 2019 in Tianjin, China. VCG | Visual China Group | Getty Images A blockbuster profit report Wednesday from Nvidia crystallized an important point for both markets and

Former Federal Reserve Board Chair Ben Bernanke speaks during a discussion on “Perspectives on Monetary Policy” during the Thomas Laubach Research Conference at the Federal Reserve Board building in Washington, DC, May 19, 2023. Saul Loeb | AFP | Getty Images WASHINGTON — Former Federal Reserve Chair Ben Bernanke, who guided the central bank and

A sign displays the price in pound sterling of food goods, including cucumbers, at a a fruit and vegetable market in stall east London on March 31, 2023. Susannah Ireland | Afp | Getty Images LONDON — After more than a year of warnings, Bank of England Governor Andrew Bailey says the U.K. is now

A woman stands in front of an empty retail space in lower Manhattan on April 17, 2017 in New York City. As American’s shopping habits continue to migrate online, brick-and-mortar stores across the country are closing at an increased rate. For the first time in nearly two years, retail sales declined two months in a