WASHINGTON—A “sense of complacency” is permeating markets as investors, betting on continued accommodative monetary policy, are stretching asset prices, risking a sudden market correction, the International Monetary Fund (IMF) warned on Jan. 27. The rollout of COVID-19 vaccines has boosted expectations of a global recovery and helped prompt a surge in asset prices, despite rising…
IMF: ‘Complacency’ Permeating Markets on Continued Monetary Support
US Core Capital Goods Orders Rise in Boost to Business Investment
WASHINGTON—New orders for key U.S.-made capital goods increased for an eighth straight month in December, pointing to solid growth in business spending on equipment in the fourth quarter and likely helping to underpin the economic recovery. Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose 0.6 percent last…
US Factory Activity Near 14-Year High; Home Sales Rise in December
January 24, 2021
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Businesseconomic recoveryEconomieseconomyHome saleshousing marketinflationmanufacturingsupply chainU.S. economyUS
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WASHINGTON—U.S. manufacturing activity surged to its highest level in nearly 14 years in early January, but bottlenecks in the supply chain caused by the COVID-19 pandemic are driving up prices and signaling a rise in inflation in the months ahead. Other data on Friday showed an unexpected increase in sales of previously owned homes in…
US Factory Activity Near 14-Year High; Home Sales Rose in December
January 24, 2021
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Businesseconomic recoveryEconomieseconomyHome saleshousing marketinflationmanufacturingsupply chainU.S. economyUS
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WASHINGTON—U.S. manufacturing activity surged to its highest level in nearly 14 years in early January, but bottlenecks in the supply chain caused by the COVID-19 pandemic are driving up prices and signaling a rise in inflation in the months ahead. Other data on Jan. 22 showed an unexpected increase in sales of previously owned homes…
COVID-19 Pressures US Retail Sales; Manufacturing Shines
WASHINGTON—U.S. retail sales fell for a third straight month in December as renewed measures to slow the spread of COVID-19 triggered job losses, further evidence that the wounded economy lost considerable speed at the end of 2020. The downturn in sales reported by the Commerce Department on Friday is, however, unlikely to push the economy…
US Weekly Jobless Claims Increase More Than Expected
WASHINGTON—The number of Americans filing first-time applications for unemployment benefits surged last week, confirming a weakening in labor market conditions as a worsening COVID-19 pandemic disrupts operations at restaurants and other businesses. Initial claims for state unemployment benefits totaled a seasonally adjusted 965,000 for the week ended Jan. 9, compared to 784,000 in the prior…
Lockdowns in 2021 Threaten to Slow First-Quarter Earnings Recovery
LONDON—A major chunk of the recovery in companies’ earnings expected in the first quarter is at risk of being pushed back further as lockdowns and mobility restrictions in several countries cloud hopes of a swifter economic recovery, investment banks said. China announced lockdowns in four cities and European countries unveiled tighter and longer coronavirus restrictions…
Local Leaders Hope Proposed California Budget Will Help Businesses, Schools
January 11, 2021
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California budgetCOVID-19economic recoveryeducationGavin NewsomNY-CalOrange CountySouthern CaliforniaUS
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Orange County leaders say they’re optimstic the recently-released draft budget will benefit local businesses and public schools. “We think that this budget that the governor presented has a number of good things in there that are steps in the right direction of giving the mainstream mom-and-pop [shops] more hope and support that they desperately need,”…
US Weekly Jobless Claims Unexpectedly Fall; Trade Deficit Widens Sharply
WASHINGTON—The number of Americans filing first-time claims for jobless benefits unexpectedly dipped last week while staying extremely high, with the labor market recovery appearing to stall as a raging COVID-19 pandemic threatens to overwhelm the country. Other data on Thursday showed layoffs announced by U.S. companies surged 18.9 percent in December. Still, the economy is…
US Service Sector Regains Speed in December: ISM Survey
WASHINGTON—U.S. services industry activity accelerated in December, but sky-rocketing COVID-19 infections depressed employment, heightening the risk that the economy shed jobs for the first time since the labor market recovery from the pandemic started. The Institute for Supply Management (ISM) said on Thursday its non-manufacturing activity index increased to a reading of 57.2 last month…
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