Articles Posted by Eccl 10:2
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The International Monetary Fund on Wednesday turned its spotlight on the growing U.S. fiscal deficit, warning that it is now a risk to both the domestic economy and global economy. Loose U.S. fiscal policy could be a factor in making it “harder to achieve” the “last mile” of progress on bringing domestic inflation back to the Fed’s 2% target, the IMF said, in its latest report on global fiscal policy.
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Business activity continued to decline in New York State, according to firms responding to the April 2024 Empire State Manufacturing Survey. The headline general business conditions index rose seven points but remained below zero at -14.3. New orders and shipments both declined significantly, and unfilled orders continued to shrink. Delivery times shortened, and inventories edged higher. Labor market conditions remained weak, with employment and hours worked moving lower. The pace of input price increases picked up somewhat, while the pace of selling price increases held steady. Though firms expect conditions to improve over the next six months, optimism remained subdued.
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An amount of land equivalent to the Isle of Wight has been added to the shorelines of 13,000 islands around the world in just the last 20 years. This fascinating fact of a 369.67 square kilometre increase has recently been discovered by a group of Chinese scientists analysing both surface and satellite records. Overall, land was lost during the 1990s, but the scientists found that in the study period of three decades to 2020 there was a net increase of 157.21 km2. The study observed considerable natural variation in both erosion and accretion. Of course, the findings blow holes in...
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The numbers: The New York Fed’s Empire State business-conditions index, a gauge of manufacturing activity in the state, fell 18.5 points in March to negative 20.9, the regional bank said Friday. The drop was much larger than expected. Economists had expected a negative 6 reading, according to a survey by the Wall Street Journal. Any reading below zero indicates deteriorating conditions. This is the third straight reading negative reading for the Empire State index and the fifth in the past six months. Key details: The index for new orders fell 10.9 points to negative 17.2 in March. This is a...
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Supreme Court decision to affect more than 30 states that have considered challenges to remove Trump from 2024 ballot
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The numbers: Orders for durable or long-lasting goods sank 6.1% in January, but the decline was exaggerated by a brief lull in orders for Boeing passenger planes. Economists polled by The Wall Street Journal had forecast a 5% decline. New orders fell by a mild 0.3% last month if planes and cars are stripped out. Orders minus transportation give a more accurate view of how well businesses are performing.
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Republican National Committee chairwoman Ronna McDaniel has offered to leave her position following the South Carolina primary later this month to allow former President Donald Trump to install his own party chair, two party advisers told CNN. She has also discussed those plans with Trump, according to a person a familiar. RNC spokesperson Keith Schipper told CNN in a statement Tuesday night that “nothing has changed. This will be decided after South Carolina.”
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Housing Starts details: Housing starts 1.331M vs 1.460M estimate Housing starts change for January -14.8% vs -4.3% prior Housing starts represents a slight decrease of 0.7% from the January 2023 rate of 1,340,000, with a margin of error of ±11.7%. Single-family housing starts in January were at a rate of 1,004,000, marking a 4.7% decrease from the revised December figure of 1,054,000, with a margin of error of ±11.6%. The rate for units in buildings with five units or more was 314,000 in January
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Supposedly he suspected that Mandel was being sarcastic, but Dana agreed to at least appear. Seems like he didn't give Howie much of a chance.
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Lael Brainard: 'People are fed up with high prices,' especially for 'things that they buy on a weekly basis, groceries in particular' A top Biden economic adviser on Thursday pressed on with the administration's recent effort to go after grocery stores and food companies over elevated prices, as inflation remains a major worry for voters as November's presidential election nears. "Grocery prices, they are important to people because they pay those prices every week," said Lael Brainard, director of President Joe Biden's National Economic Council, during a news conference at a National Association for Business Economics event in Washington, D.C....
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Industrial production edged down 0.1 percent in January after recording no change in December. In January, manufacturing output declined 0.5 percent and mining output fell 2.3 percent; winter weather contributed to the declines in both sectors. The index for utilities jumped 6.0 percent, as demand for heating surged following a move from unusually mild temperatures in December to unusually cold temperatures in January. At 102.6 percent of its 2017 average, total industrial production in January was identical to its year-earlier level. Capacity utilization for the industrial sector moved down 0.2 percentage point in January to 78.5 percent, a rate that...
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