Economy

Private payroll growth declined sharply in January, a possible sign that the U.S. labor market is heading for a slowdown this year, ADP reported Wednesday. Companies added 107,000 workers in the first month of 2024, off from the downwardly revised 158,000 in December and below the Dow Jones estimate for 150,000, according to the payrolls

Buildings in Pudong’s Lujiazui Financial District in Shanghai, China, on Monday, Jan. 29, 2024.  Bloomberg | Bloomberg | Getty Images The International Monetary Fund on Tuesday nudged its global growth forecast higher, citing the unexpected strength of the U.S. economy and fiscal support measures in China. It now sees global growth in 2024 at 3.1%,

British Finance Minister Jeremy Hunt said earlier this month the U.K. would not enter a recession this year. Hannah Mckay | Reuters LONDON — The U.K. government should not introduce further tax cuts this year, the International Monetary Fund said Tuesday, as its chief economist argued the national budget needed the money for public services

Residents waiting at a bus stop under a large Turkish flag in Istanbul, Turkey, on Sunday, April 30, 2023. Bloomberg | Bloomberg | Getty Images Turkey’s central bank on Thursday hiked its key interest rate by another 250 basis points to 45%. The hike to the benchmark one-week repo rate was in line with economists’ expectations.

People walk by sale signs in the Financial District on the first day back for the New York Stock Exchange (NYSE) since the Christmas holiday on December 26, 2023 in New York City. Spencer Platt | Getty Images An important inflation gauge released Friday showed that the rate of price increases cooled as 2023 came

The economy grew at a much more rapid pace than expected in the final three months of 2023, as the U.S. easily skirted a recession that many forecasters had thought was inevitable, the Commerce Department reported Thursday. Gross domestic product, a measure of all the goods and services produced, increased at a 3.3% annualized rate

European Central Bank President Christine Lagarde looks on as she attends the European Parliament’s Committee on Economic and Monetary Affairs, at the European Parliament, in Brussels, Belgium September 25, 2023.  Yves Herman | Reuters President Christine Lagarde on Thursday said she was “proud and honored” to leead the European Central Bank, after her leadership was

Consumers shop in Rosemead, California, on Dec. 12, 2023. Frederic J. Brown | Afp | Getty Images Economic growth likely slowed to its weakest pace in a year and a half to end 2023, possibly setting the stage for a more pronounced slowdown ahead, according to Wall Street economists. The consensus outlook for the fourth

BEIJNG, CHINA – NOVEMBER 13: Illuminated skyscrapers stand at the central business district at sunset on November 13, 2023 in Beijing, China. (Photo by Gao Zehong/VCG via Getty Images) Vcg | Visual China Group | Getty Images Deflation may soon start biting into Chinese growth, as Beijing looks at another three to six months of

Jim Dyson | Getty Images News | Getty Images The global economy does not need a “collapse” in order to bring inflation back to target and return to sustainable growth, according to Steven Wieting, chief investment strategist and chief economist at Citi Global Wealth. Major economies have proven surprisingly resilient to sharp interest rate increases

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 19, 2024.  Brendan Mcdermid | Reuters Markets have become less convinced that the Federal Reserve is ready to press the button on interest rate cuts, an issue that cuts at the heart of where the economy and

Shoppers walk past shops on Regent Street on the final weekday before Christmas in London on December 22, 2023. Henry Nicholls | Afp | Getty Images U.K. retail sales dropped significantly more than expected in December, in a sign that the economy may have entered a shallow recession in the second half of 2023. The

In this article AXP Follow your favorite stocksCREATE FREE ACCOUNT Stephen Squeri, chair and CEO of American Express, speaks during an Economic Club of New York event in New York on Nov. 10, 2022. Stephanie Keith | Bloomberg | Getty Images American Express CEO Stephen Squeri on Friday said the credit card company saw “good

An employer representative at a Veteran Employment and Resource Fair in Long Beach, California, US, on Tuesday, Jan. 9, 2024. The Department of Labor is scheduled to release initial jobless claims figures on January 11.  Eric Thayer | Bloomberg | Getty Images Consumers have grown more confident about the direction of the economy and inflation

Raphael Bostic at Jackson Hole, Wyoming David A. Grogan | CNBC Atlanta Federal Reserve President Raphael Bostic expects policymakers to start cutting rates in the third quarter of this year, saying Thursday that inflation is well on its way back to the central bank’s goal. Bostic, a voting member this year on the rate-setting Federal

A networking and hiring event for professionals of color in Minneapolis, MN.  Michael Siluk | Getty Images The labor market continued to show surprising resiliency in the early days of 2024, with initial jobless claims posting an unexpected drop last week. Initial filings for unemployment insurance totaled 187,000 for the week ended Jan. 13, the

Federal Reserve Governor Christopher Waller acknowledged Tuesday that interest rate cuts are likely this year, but said the central bank can take its time relaxing monetary policy. The comments, delivered during a speech in Washington, D.C., seemed to counter market anticipation for aggressive easing this year. “As long as inflation doesn’t rebound and stay elevated,

Holiday shopping turned out even better than expected in December as shoppers picked up the pace to close out a strong 2023, the Commerce Department reported Wednesday. Retail sales increased 0.6% for the month, buoyed by a pickup in clothing and accessory stores as well as online nonstore businesses. The results were better than the