Reuters US Economy

By Nelson Bocanegra BOGOTA (Reuters) -Colombia’s central bank board raised the benchmark interest rate by 25 basis points to 13.25% on Friday, continuing a long tightening cycle amid persistent inflation and significant stability risks to the global financial system, it said. Four policymakers voted for the 25 basis point increase, while two wanted to keep …

Colombia’s central bank raises benchmark rate to 13.25% in split vote Read More »

WASHINGTON (Reuters) – U.S. labor costs increased solidly in the first quarter as strong wage gains persisted amid a tight labor market, suggesting inflation could remain elevated for a while. The Employment Cost Index, the broadest measure of labor costs, rose 1.2% last quarter after increasing 1.1% in the October-December period, the Labor Department said …

US labor costs increase solidly in first quarter Read More »

By Geert De Clercq PARIS (Reuters) -The French economy grew slightly in the first quarter, despite a series of strikes against the government’s pension reform bill, but inflation remained stubbornly high, rising to nearly six percent in April. Statistics agency INSEE data showed GDP edging up 0.2% in Q1, in line with expectations, after a …

French GDP edges up in first quarter despite strikes and high inflation Read More »

BERLIN (Reuters) -German unemployment rose more than expected in April, Labour Office figures showed on Friday, as a sluggish economy took its toll on the labour market. The Federal Labour Office said the number of people out of work increased by 24,000 in seasonally adjusted terms to 2.567 million. Analysts polled by Reuters had expected …

German unemployment rises more than expected in April Read More »

* Q1 GDP 0.5% q/q vs forecast of 0.2% * Domestic demand, exports both pushed Q1 growth ROME, April 28 (Reuters) – Italy’s economy grew by 0.5% in the first quarter from the previous three months, preliminary data showed on Friday, a stronger recovery than expected after a slight contraction at the end of last …

Italy’s economy grows more than expected in Q1 after contraction at end of last year Read More »

LONDON/BOGOTA (Reuters) -Colombia’s incoming finance minister Ricardo Bonilla and President Gustavo Petro sought to calm the market on Thursday as the peso currency, bonds and the stock exchange fell following the surprise ouster of Bonilla’s predecessor. Petro named Ricardo Bonilla to the post in a Cabinet reshuffle on Wednesday, replacing Jose Antonio Ocampo. The currency …

New Colombia finance minister seeks to calm market as bonds, peso suffer Read More »

By Jorge Otaola BUENOS AIRES (Reuters) -Argentina’s central bank hiked its benchmark interest rate a huge 10 percentage points to 91% on Thursday as it tries to tame high inflation and steady the peso currency, which has tumbled in black market trading over the last week. The hike, the biggest since a market meltdown in …

Argentina seeks to tame inflation, peso with biggest rate hike since 2019 Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. economic growth slowed more than expected in the first quarter as an acceleration in consumer spending was offset by businesses liquidating inventories in anticipation of weaker demand later this year amid higher borrowing costs. The first decline in private inventories in 1-1/2 years reported by the Commerce Department …

US economic growth slows in first quarter as businesses draw down inventories Read More »

ROME, April 27 (Reuters) – Morale amongst Italian businesses and consumers rose in April, data showed on Thursday, but sentiment in the manufacturing sector was more downbeat as the outlook remains uncertain for the euro zone’s third largest economy. National statistics institute ISTAT’s manufacturing confidence index fell to 103.0 in April from 104.1 the month before, coming …

Italy business and consumer morale rise in April but manufacturers more downbeat Read More »