Category: Macro
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US composite PMI down slightly in March
The United States Composite PMI Output Index came in at 52.1 in March, slipping from 52.5 registered in February, “but still pointing to a solid monthly increase in overall business activity,” S&P Global revealed in its report on Wednesday. The figure was slightly lower than was predicted in the flash estimate. The US Services PMI Business…
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ADP: US private payrolls up by 184,000 in March
The number of jobs in the United States private sector saw a monthly increase of 184,000 in March, significantly more than analysts expected, Automatic Data Processing Inc. (ADP) revealed in its National Employment Report published on Wednesday. Most new jobs – 87,000 – were registered in large enterprises, followed by mid-sized ones with between 50…
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Oil Prices Edge Up Amid Geopolitical Tensions and Supply Risks
Oil prices saw a moderate increase today as investors weighed the supply risks stemming from ongoing Ukrainian attacks on Russian refineries and the potential for escalating conflict in the Middle East. As of the latest updates, Brent crude for June delivery (CCOM:OILBRENT) was up by 0.42% at $89.29, while West Texas Intermediate (WTI) for May…
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US mortgage applications down by 0.6%
Mortgage applications in the United States declined by 0.6% on a seasonally adjusted basis for the week ending March 29, the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey revealed on Wednesday. The Purchasing Index went down slightly from the previous week’s 145.7 to 145.6. The Mortgage Market Index fell from 196.8 seen the week…
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Fed’s Daly sees no urgency to adjust funds rate
United States Federal Reserve Bank of San Francisco President Mary Daly underlined on Tuesday that there is “no urgency” to modify the Fed funds rate, stressing the “real risk” of implementing rate cuts prematurely. The Fed official noted that the US economy is “improving” and added that while three rate cuts could be considered “reasonable”…
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US job openings at 8.8 million in February
Job openings in the United States stood at 8.8 million in February, little changed from the previous month, the US Bureau of Labor Statistics reported Tuesday. The job opening rate remained unchanged for the third month in a row at 5.3%. The Job Openings and Labor Turnover Survey (JOLTS) showed that the number and rate…
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ISM: US manufacturing activity expands in March
The manufacturing activity in the United States in March recorded an increase from its previous reading in February, the Institute for Supply Management (ISM) stated in a report on Monday. The manufacturing PMI was registered at 50.3% in March, coming in above market expectations. The figure marked a rise of 2.5 percentage points when compared…
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US construction spending down 0.3% in February
Construction spending in the United States in February was estimated at a seasonally adjusted annual rate of $2,091.5 billion, marking a 0.3% decrease compared to the previous month’s revised rate, the US Census Bureau reported on Monday. On an annual basis, construction spending grew by 10.7% from the same month of 2023. Private construction spending…
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US manufacturing PMI falls slightly in March
The manufacturing activity in the United States continued to expand in March, although at a slower pace, the S&P Global revealed in its report on Monday. The Manufacturing Purchasing Managers’ Index for the reported month came in at 51.9, above the neutral 50 mark, but below February’s digit of 52.2. The expansion rate of manufacturing…
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US consumer confidence rises in March
The Consumer Sentiment Index in the United States rose 3.3% in March month on month to stand at 79.4, the University of Michigan revealed in its final report on Thursday. The figure jumped 28.1% on an annual level. The Current Economic Conditions Index gained 3.9% compared to the month prior and 24.4% from March 2022,…