The latest signs increasingly suggest that an economic slowdown may be upon us.
, they are doing so more slowly.
And as borrowing costs have risen, inflation has steadily eased. The latest year-over-year consumer inflation rate — 6% — is well below the 9.1% rate it reached last June. But it’s still considerably above the Fed’s 2% target. The Fed is aiming to achieve a so-called soft landing — slowing growth just enough to tame inflation without causing the world’s biggest economy to tumble into recession. Most economists doubt it will work; they expect a recession later this year.So far, the economy has proved resilient in the face of ever-higher borrowing costs. America’s gross domestic product — the economy’s total output of goods and services — expanded at a healthy pace in second half of 2022.
The Labor Department on Thursday said it had adjusted the way it calculates how many Americans are filing for unemployment benefits. The tweak added nearly 100,000 claims to its figures for the past two weeks and might explain why heavy layoffs in the tech industry this year had yet to show up on the unemployment rolls.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Propst Arena to host 2024, 2025 Conference USA basketball championshipsConference USA Commissioner Judy MacLeod announced that the 2024 and 2025 Conference USA Men’s & Women’s Basketball Championships will be hosted at the Huntsville arena.
Read more »
Higher March Jobless Claims Add to Signs of Cooling Labor MarketFilings for unemployment benefits were larger than previously thought last month, according to new government calculations.
Read more »
Hiring slowed in March as U.S. job market shows signs of coolingBREAKING: Employers across the U.S. continued to hire at a steady pace last month, but the labor market showed signs of cooling in the face of the Federal Reserve's efforts to slow the economy.
Read more »
Volvo More Than Doubled All-Electric Car Sales In March 2023In March, Volvo sold 26,983 plug-ins, which a 29% increase year-over-year. Not only that, the Volvo Recharge share increased to 42.7% of the total volume.
Read more »
US: ISM Services PMI declines to 51.2 in March vs. 54.5 expectedEconomic activity in the US services sector expanded at a softening pace in March with the ISM Services PMI declining to 51.2 from 55.1 in February. T
Read more »
China March services activity accelerates on new orders - Caixin PMIChina's services activity in March revved up at the quickest pace in 2-1/2 years on robust new orders and job creation and a consumption-led post-COVID recovery, a private-sector survey showed on Thursday.
Read more »