The devastation of the coronavirus pandemic on the U.S. labor market will be on display this week, with Friday’s jobs report likely to show the unemployment rate soared to nearly Continue Reading
Euro zone manufacturers appear to have passed their nadir, a survey showed on Monday, but activity is still contracting sharply as government-imposed lockdowns due to the coronavirus pandemic keep demand Continue Reading
U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the growing frugality reinforced expectations the Continue Reading
U.S. consumer spending plunged in April by the most on record as widespread government lockdowns largely prevented Americans from spending federal stimulus payments in the month. Household outlays fell 13.6% Continue Reading
The multitrillion-dollar patchwork of federal and state relief programs has not kept bills from piling up or prevented long lines at food banks. But it has mitigated the damage. Now Continue Reading
Total U.S. unemployment claims are expected to surpass 40 million. Forecasters expect the weekly Labor Department report on unemployment claims on Thursday morning to show another 2.1 million filings last Continue Reading
The German economy is likely to shrink by 6.6% this year as a consequence of the coronavirus pandemic before growing by 10.2% in 2021, the Ifo Institute said on Thursday Continue Reading
The European Union has stepped back from the brink. Again. Unprecedented in nature and ambitious in scope, the 2.4 trillion euros ($2.6 trillion) in total recovery spending unveiled by the EU Continue Reading
Oil extended losses after an industry report showed a surprise jump in U.S. crude stockpiles last week. West Texas Intermediate crude futures fell as much as 3.2% after the close in Continue Reading
Truck loads are growing again. Air travel and hotel bookings are up slightly. Mortgage applications are rising. And more people are applying to open new businesses. These are among some Continue Reading
