A key indicator that gauges the health of the American economy fell for the tenth straight month in December, exceeding forecasts and suggesting a potential recession in the months ahead. The Conference Board Leading Economic Index (LEI) for the United States declined by 1 percent, to 110.5 in December, following a 1.1 percent decrease in…
Leading US Economic Indicator Falls for 10th Straight Month, Suggesting Recession Soon
Leading US Economic Indicator Falls for Tenth Straight Month, Suggesting Recession Soon
A key indicator that gauges the health of the American economy fell for the tenth straight month in December, exceeding forecasts and suggesting a potential recession in the months ahead. The Conference Board Leading Economic Index (LEI) for the United States declined by 1 percent, to 110.5 in December, following a 1.1 percent decrease in…
Japan Higher Rates Expand Debt Pile, Balanced Budget Seen Delayed Again
January 24, 2023
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Asia & PacificBusiness & Marketseconomic policieseconomyfiscalinflationJapanMarketsrecessionstocksWorld
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TOKYO—Japan raised its estimates for long-term interest rates over the coming few years in government’s twice-yearly fiscal projections issued on Tuesday, following the central bank’s decision last month to allow 10-year bond yields to move more widely. Higher rates will test the government’s ability to service the industrial world’s heaviest debt burden at more than…
Japan’s Factory Activity Extends Declines for 3rd Straight Month: PMI
TOKYO—Japan’s manufacturing activity contracted for a third straight month in January as export weakness persisted amid a worsening global outlook, a corporate survey showed on Tuesday. The au Jibun Bank flash Japan manufacturing purchasing managers’ index (PMI) was at a seasonally adjusted 48.9 in January, unchanged from the final reading in the previous month. The…
Eurozone Business Activity Back to Growth in January: PMI
LONDON—Eurozone business activity made a surprise return to modest growth in January, adding to signs the downturn in the bloc may not be as deep as feared and that the currency union may escape recession, a survey showed. S&P Global’s flash Composite Purchasing Managers’ Index (PMI), seen as a good gauge of overall economic health,…
Dollar Stuck Near 9-month Low Versus Euro as Yen Bounces
LONDON—The dollar hovered near a nine-month low against the euro and surrendered recent gains against the yen on Tuesday, as traders weighed the risks of a U.S. recession against the outlook for Federal Reserve monetary policy. Eurozone data on Tuesday reinforced the view that the economy is surviving a winter of intense price pressures reasonably…
Oil Steady as China Reopening Is Balanced by Economic Concerns
January 24, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Crude oil prices were steady on Tuesday as concerns about a global economic slowdown and expected build in U.S. oil inventories were offset by hopes of a fuel demand recovery from top importer China. Brent crude was down 30 cents, or 0.3 percent, at $87.89 a barrel by 1010 GMT. U.S. West Texas Intermediate (WTI)…
World Shares Mixed After Tech Gains Power Wall Street Rally
January 24, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BANGKOK—World stocks were mixed Tuesday after a Wall Street rally driven by heavy buying of tech shares as investors bet the Federal Reserve will trim its rate hikes as it makes headway in tamping down inflation. Germany’s DAX edged 0.1 percent lower to 15,086.68 while the CAC 40 in Paris gained 0.2 percent to 7,024.63….
House Democrats Propose Eliminating Debt Ceiling; Yellen Shoots Down $1 Trillion Coin
January 24, 2023
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Business & MarketsDemocratsJanet YellenPlatinum coinPolicies & ImpactsPoliticsrecessionUSUS debt ceilingUS News
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Dozens of House Democrats believe it is time to eliminate the debt ceiling and instead allow unlimited borrowing so the government can spend whatever it needs. The federal government is entrenched in another battle over the debt ceiling after Washington hit its borrowing limit of about $31.4 trillion last week. As a result, the Treasury…
Recession in 2023? Nothing Like 2008
Commentary December numbers indicate the most widely predicted recession is underway. How serious will it be? The answer will depend in large part on upcoming Federal Reserve policy. If the Fed avoids the mistakes it made in 2008, it will slay the inflation dragon with only a moderate 2–3 percent decline in real output. Last…
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