Activity is contracting in the U.S. manufacturing sector but the number of Ameri...
WASHINGTON - Activity is contracting in the U.S. manufacturing sector but the number of Americans filing applications for unemployment benefits fell last week, signs that factories are suffering from a global slowdown even as the broader labor market remains healthy.
Readings below 50 point to reductions in activity and the August data could heighten fears the U.S. economy is on track to slip into recession, dragged down by economic weakness overseas and an escalating trade war with China.“August’s survey data provides a clear signal that economic growth has continued to soften in the third quarter,” said Tim Moore, an economist at IHS Markit.
While U.S. factories are feeling the pinch from weaker orders overseas and higher input costs due to rising U.S. tariffs on imports, the labor market remains buoyant, providing a support for consumer spending.Initial claims for state unemployment benefits dropped 12,000 to a seasonally adjusted 209,000 for the week ended Aug. 17, the Labor Department said in a separate report. The decline was sharper than expected.
A separate index of leading economic indicators rose in July, pointing to continued economic growth in the coming months. The index, compiled by the Conference Board, had declined in May and June but increased 0.5% last month, boosted by healthy readings for permits to build housing, robust stock prices and low levels of unemployment claims.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
U.S. jobless claims fall in sign of labor market strengthThe number of Americans filing applications for unemployment benefits fell sharp...
Baca lebih lajut »
Puzder: Recession worries are overblown'The underlying fundamentals of the economy right now are very strong,' Andrew Puzder, former CEO of CKE Restaurants, says. 'We're no where near having a negative quarter, let alone two consecutive negative quarters of GDP growth.'
Baca lebih lajut »
As U.S. watchdog retreats, mortgage firms reprise cozy marketing arrangementsU.S. mortgage firms are getting back into joint marketing and advertising arrang...
Baca lebih lajut »
Jeffrey Epstein changed his will, rolled assets into trust two days before his deathJeffrey Epstein’s will has been filed in the U.S. Virgin Islands, and it shows that he signed it Aug. 8 — two days before he hanged himself in his Manhattan...
Baca lebih lajut »
New architects' report shows how the trade war is hitting commercial real estateA key indicator for the commercial real estate market is showing signs of weakness, and uncertainty in the economy over the trade war and interest rates may be to blame.
Baca lebih lajut »
Health Insurers Set to Expand Offerings Under the ACAInsurers are expanding their Affordable Care Act plan offerings for next year, with the once-troubled business now generating profits, even as the overall individual-insurance market has shrunk.
Baca lebih lajut »