ECON

US consumer spending ends 2022 on weaker footing; slow inflation

Consumer spending falls 0.2% in December Personal income increases 0.2%; savings rate rises to 3.4% Core PCE price index gains 0.3%; up 4.4% year-on-year WASHINGTON, Jan 27 (Reuters) – US consumer spending fell for a second straight month in December, putting the economy on a lower growth path heading into 2023, while inflation continued to …

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US inflation roller coaster prompts fresh look at long-ignored money supply

NEW YORK, Jan 26 (Reuters) – The amount of money sloshing around the US economy shrank last year for the first time on record, a development that some economists believe bolsters the case for US inflation pressures continuing to abate. The Federal Reserve’s main measure of the nation’s money stock – known as M2 money …

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Wall St climbs on soft landing hopes, Tesla boost

US economy posts strong Q4 growth Weekly jobless claims fall IBM warns of softening growth in businesses Chevron to bump up share buybacks Indexes up: Nasdaq 1.16%, S&P 0.54%, Dow 0.17% Jan 26 (Reuters) – US stock indexes rose on Thursday after data showing a resilient labor market and better-than-expected economic growth last quarter helped …

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Strong US economic growth expected in fourth quarter, outlook darkening

Fourth-quarter GDP forecast to increase at a 2.6% rate Strong consumer spending seen; other sectors to contribute Weekly jobless claims expected to rise moderately WASHINGTON, Jan 26 (Reuters) – The US economy likely maintained a strong pace of growth in the fourth quarter as consumers boosted spending on goods, but momentum appears to have slowed …

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Venezuela’s inflation slows to 234% in 2022, vice president says

CARACAS, Jan 23 (Reuters) – Inflation in Venezuela hit 234% in 2022, Vice President Delcy Rodriguez said on Monday, representing a slowdown from the previous year, as the South American country struggles with a deep and lengthy economic crisis. Rodriguez provided the inflation rate during a meeting with Turkish and Venezuelan business leaders. Venezuela’s central …

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Japan finmin warns of severe finances as BOJ struggles to contain yields

Japan’s finances intensified severity to unprecedented point Rounds of extra budget, stimulus measures aggravate finances Public finance is the cornerstone of a country’s trust -Finmin Economic revival comes first before fiscal reform in long run Parliament debate begins, all eyes on new BOJ governor nominee TOKYO, Jan 23 (Reuters) – Japan’s finances are becoming increasingly …

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ECB set to raise rates by 50 basis points in February and March, Knot says

AMSTERDAM, Jan 22 (Reuters) – The European Central Bank (ECB) is set to raise interest rates by 50 basis points in both February and March and will continue to raise rates in the months after, ECB governing council member Klaas Knot said in an interview with Dutch broadcaster WNL on Sunday. “Expect us to raise …

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