Economic News

NEW YORK (AFX) - Stocks rose in early trading Friday after the Labor Department said the economy added 128,000 jobs in August, signaling that an economic slowdown might not be as severe as some have predicted. The added jobs, slightly more than the 125,000 increase economists had been expecting, brought down the country's unemployment rate to 4.7 percent from a five-month high of 4.8 percent in J ...

Sam Fleming, City Focus, Daily Mail1 September 2006 COULD the US housing market pull us into a global recession? Half a decade after the dotcom crash, the American economy is once again on the edge of a precipice, and the effects can be felt from London to Beijing. House price inflation has slowed across the US, including San Fransico, California WANT TO KNOW MORE? TABLES: UK economic data SPECIAL SECTION: House prices SPECIAL SECTION: Buy-to-let OTHER STORIES Green ...

LONDON (AFX) - The dollar bounced back slightly after a fairly solid US jobs report allayed fears that the US economy is experiencing a sharp slowdown. Though the US economy added an expected 128,000 jobs during August, jobs growth in June and July was higher than previously estimated and the unemployment rate dropped a notch to 4.7 pct. Meanwhile, the release showed that year-on-year earnings ar ...

WASHINGTON (Dow Jones) - The U.S. labor market is good, not great. The nonfarm payrolls report for August released Friday show that most industries are still hiring, but wage growth slipped back and the number of hours worked fell sharply. The report gives a green light for the Federal Reserve to extend its holiday until October at least. "It looks like the sort of number that would keep  ...

WASHINGTON (AFX) - Hiring perked up in August as employers added 128,000 jobs, pulling down the unemployment rate to 4.7 percent, sending a Labor Day message that the economic expansion still has staying power. The latest snapshot, released by the Labor Department Friday, was a bit brighter than expected and should ease any fears that the expansion that began in late 2001 is not in danger of fizz ...

Europe's economy is growing faster than the US or Japan, according to the latest figures for the second quarter of this year. Growth across the 25 members of the European Union was 0.9% in the quarter, up from 0.8% in the first quarter and representing 2.8% over the year. Comparable growth figures for the US and Japan were 0.7% and 0.2%. The economies of the 12-nation euro currency group also grew at 0.9% over this period. Jobs failure Europe is lagging behind its economic rivals when it co ...

Manufacturing activity in UK industry declined in August, indicating slower exports and a cooling economy. A key index produced by purchasing managers slipped by more than expected, hitting a five-month low. Exports fell for the first time in seven months, according to the Chartered Institute of Purchasing and Supply (CIPS). The figures seem to contradict last week's optimistic manufacturing numbers from the CBI business group. Mixed reactions Economists are divided over the implications o ...

LONDON (AFX) - The dollar came under slight selling pressure as some sections of the market took bets that the key US non-farm payroll number will come in weak. While analysts polled by AFX News believe the US economy added some 140,000 jobs in August, a substantial number also say that there is a real risk of disappointment. Analysts at CALYON for instance, expect a rise of just above 100,000.  ...

LONDON (Reuters) - Manufacturing growth slowed more than expected in August to its weakest rate in five months as export orders fell, but analysts said it was unlikely to deter the Bank of England from raising rates again this year. The Chartered Institute of Purchasing and Supply/RBS Purchasing Managers' Index (PMI) slipped to 53.1 last month from a downwardly revised 53.6 in July, according to data on Friday. That was still above the 50.0 mark that divides expansion from contraction but belo ...

South Korean exports and inflation both jumped by more than expected in August, but central bankers are set to resist any calls to raise interest rates. Exports grew 18.7% compared to the year before and consumer prices rose 2.9%, but one-off factors were blamed. Analysts said the export growth came after car industry strikes hit July's figures, while heavy rainfall that month pushed up August's food prices. They said the bank was more concerned about a slowing economy than inflation. Surpri ...