Reuters US Economy

By Fergal Smith TORONTO (Reuters) -Canada’s services economy contracted at a steeper pace in September as businesses shed jobs and outstanding work sank to a five-year low, S&P Global’s Canada services PMI data showed on Friday. The headline Business Activity Index fell to 46.3 last month from 48.6 in August, registering its lowest reading since …

Canada’s services PMI hits a three-month low in September as jobs decline Read More »

By Jana Choukeir DUBAI (Reuters) -Saudi Arabia’s path to fiscal consolidation faces risks, Fitch Ratings said on Friday, as lower oil prices and heavy spending commitments tied to the country’s Vision 2030 economic transformation plan weigh on the kingdom’s finances. The Vision 2030 plan, led by the nearly $1 trillion Public Investment Fund (PIF), aims …

Saudi faces rising fiscal risks amid mounting spending, oil prices dip, Fitch says Read More »

By Anna Szymanski LONDON (Reuters) -What matters in U.S. and global markets today By Anna Szymanski, Editor-in-Charge, Reuters Open Interest Hello Morning Bid readers!  Global equity markets mostly shrugged off the U.S. government shutdown this week, with all three major U.S. indices recording record highs on Thursday and Asian and European markets on track to …

Morning Bid: Keep calm and carry on Read More »

ROME (Reuters) -The European Central Bank (ECB) should resume cutting interest rates to revive a near-stagnant euro zone economy, Italian Economy Minister Giancarlo Giorgetti said in the government’s multi-year budget plan. The ECB left its key deposit rate unchanged at 2.0% last month as expected, and maintained an upbeat view on growth and inflation, dampening …

Italy says ECB should cut rates more to address euro zone stagnation Read More »

ROME (Reuters) -Italy’s public budget deficit narrowed in the first six months of this year to 5.0% of gross domestic product (GDP), compared with 5.9% in the same period of 2024, official statistics agency ISTAT said on Friday. The narrower deficit reflected strong growth in revenues, which were up 5.5% year-on-year in the first six …

Italy Jan-June public deficit narrows y/y to 5.0% of GDP Read More »

By Fergal Smith TORONTO (Reuters) -Greater Toronto Area home sales rose to an eight-month high in September, while prices declined, Toronto Regional Real Estate Board data showed on Friday. Seasonally adjusted sales increased 2% on a month-over-month basis to 5,765 units, marking the highest level since January. TRREB’s home price index was down 0.5% after …

Toronto home sales rise to eight-month high in September Read More »

ANKARA (Reuters) -Turkey’s annual inflation rate jumped to 33.29% in September, well above expectations, according to data on Friday, reinforcing concerns that the central bank may need to slow its monetary easing cycle to address stubborn price pressures.  Consumer price inflation was driven by sharp increases in food, housing and education prices, the Turkish Statistical …

Turkey inflation unexpectedly jumps to 33.3% in test for central bank Read More »