Reuters US Economy

BERLIN (Reuters) – Germany’s residential construction sector was again hit by a wave of cancellations in October, according to a survey published on Monday that showed a record number of firms reporting abandoned projects. In October, 22.2% percent of companies reported cancelled projects, up from 21.4% the previous month, the Ifo economic institute said. “It’s …

Wave of cancellations in German housing construction at new high -Ifo Read More »

TOKYO (Reuters) – Japan’s services activity expanded at the slowest pace this year in October, a business survey showed on Monday, reinforcing concerns that the key sector propelling economic growth is continuing to soften. The final au Jibun Bank Service purchasing managers’ index (PMI) fell to 51.6 in October from 53.8 in September, beset by …

Japan service activity posts slowest growth this year – PMI Read More »

By Wayne Cole (Reuters) – A look at the day ahead in European and global markets from Wayne Cole. It’s been an upbeat start to the week in Asia as markets cast aside concerns about rate hikes, and go straight to pricing in early cuts. All the major equity indices are well into the green …

Marketmind: Rate cut prospects fuel stock rally Read More »

(Adds dropped word “growth” in headline) By Stefanno Sulaiman and Gayatri Suroyo JAKARTA (Reuters) – Indonesia’s annual economic growth slowed more than expected in the third quarter to its weakest in two years, official data showed on Monday, as exports shrank further and household consumption weakened. Gross domestic product (GDP) grew 4.94% annually in the …

Indonesia’s Q3 GDP growth weakest in 2 years, exports slump further Read More »

(Reuters) – Barclays said it now expects the U.S. Federal Reserve to deliver a 25 basis point interest rate increase in January instead of an earlier expectation for a December hike. The brokerage cited softer-than-expected October employment data and dovish Fed commentary for the forecast push to next year. The Labor Department’s closely watched employment …

Barclays sees Fed raising rate in January instead of December Read More »

JERUSALEM (Reuters) – Israel’s war with Hamas in the Gaza Strip will cost as much as 200 billion shekels ($51 billion), the Calcalist financial newspaper reported on Sunday, citing preliminary Finance Ministry figures. The daily said the estimate, equal to 10% of gross domestic product, was premised on the war lasting between eight to 12 …

War with Hamas to cost Israel above $50 billion -newspaper Read More »

DUBAI (Reuters) – Growth in non-oil business activity in Saudi Arabia accelerated for a second consecutive month in October, a survey showed on Sunday, with new orders supporting an overall expansion in activity which led to a sharp rise in employment levels. The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index rose to 58.4 …

New orders lift Saudi non-oil business activity growth to 4-month high-PMI Read More »

SYDNEY (Reuters) – Australia’s Treasurer Jim Chalmers said on Sunday he planned to name a new Reserve Bank of Australia deputy governor in the next month, after Michele Bullock vacated the role to take the reins as RBA governor. “I’m hoping to announce the new deputy governor before the meeting of the Reserve Bank on …

Australia treasurer wants to name new RBA deputy governor by Dec. 5 Read More »

Minneapolis Federal Reserve Bank President Neel Kashkari on Friday said there is a lot of uncertainty over what is driving longer-term bond yields, whose rise in September and October helped convince the U.S. central bank it could leave short-term interest rates on hold at its meeting this week.  “Right now, there’s a lot of focus …

Fed’s Kashkari: a lot of uncertainty about what is driving yield curve Read More »