Reuters US Economy

(Reuters) – U.S. consumers expect price pressures to moderate notably in the next year, with a benchmark survey on Friday showing their one-year inflation outlook dropping to the lowest in 18 months in December. The University of Michigan Surveys of Consumers said the one-year inflation outlook, released alongside its bi-monthly reading of overall consumer sentiment, …

U.S. consumers’ 1-year inflation outlook drops to 18-month low – UMich Read More »

OTTAWA, Dec 23 (Reuters) – Canada recorded a C$174 million ($127.91 million) budget deficit for the first seven months of the 2022/23 fiscal year, partly due to higher debt charges, the finance ministry said on Friday. By comparison, Canada posted a C$72.25 billion deficit in the period from April to October 2021. Year-to-date revenues were …

Canada posts C$174 million deficit over first seven months of 2022/23 Read More »

SAO PAULO (Reuters) -Brazil’s incoming Finance Minister Fernando Haddad on Thursday announced a fresh batch of officials to lead the economic team of President-elect Luiz Inacio Lula da Silva’s government. The incoming financial team has come under scrutiny ahead of the Jan. 1 inauguration of leftist Lula, who has emphasized the importance of social spending …

Brazil’s incoming finance chief Haddad names ministry officials Read More »

By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits increased less than expected last week, pointing to a still-tight labor market, while the economy rebounded faster than previously estimated in the third quarter. Labor market strength, which also was underscored by some shrinking of unemployment rolls in early …

Low weekly jobless claims underscore U.S. labor market tightness; Q3 growth revised up Read More »

PARIS (Reuters) – France will have high inflation levels in the next few months, particularly regarding food items, before it will then likely ease in mid-2023, French Finance Minister Bruno Le Maire told Sud Radio. “My priority is for prices to go down from mid-2023 onwards,” he told Sud Radio. Earlier this month, France’s national …

French inflation will be high in coming months before easing in mid-2023 -Le Maire Read More »

BRASILIA (Reuters) – Brazil’s lower house on Wednesday approved a constitutional amendment to increase the government spending cap to maintain welfare payouts to poor families next year, a centerpiece campaign pledge by the country’s next president. In a major victory for incoming leftist President-elect Luiz Inacio Lula da Silva, the chamber voted 331 against 163 …

Brazil’s lower house passes bill to raise spending cap for welfare program Read More »

SAN SALVADOR (Reuters) – El Salvador will receive a $150 million loan from Latin American development bank CAF to strengthen its education system, the lender said in a Wednesday statement. The board of CAF approved the loan – the country’s first from the bank – which will be used on equipment, training and closing the …

El Salvador to receive $150 million from development bank for education Read More »

WASHINGTON (Reuters) – U.S. existing home sales slumped to a 2-1/2 year low in November as the housing market continued to be squeezed by higher mortgage rates. Existing home sales plunged 7.7% to a seasonally adjusted annual rate of 4.09 million units last month, the lowest level since May 2020, the National Association of Realtors …

U.S. existing home sales fall for 10th straight month in November Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer confidence rose to an eight-month high in December as inflation retreated and the labor market remained strong, but fears of a recession persisted, resulting in fewer households planning to make big-ticket purchases over the next six months. Other data on Wednesday showed sales of previously owned homes …

U.S. consumer confidence rebounds; existing home sales sink Read More »

LUSAKA (Reuters) -The World Bank is releasing $100 million for Zambia amid substantial delays in its debt restructuring efforts as its creditors drag their feet, it said on Wednesday. The World Bank approved in October a $275 million grant to Zambia to help the southern African nation recover from the effects of the COVID-19 pandemic, …

World Bank releases $100 million for Zambia amid delays in debt restructuring Read More »