U.S. Services-Sector Activity Continued to Expand in May
The Institute for Supply Management’s purchasing managers index for services providers was 54.5 compared with 53.6 in April. Source link
Economics
ADP Says Private-Sector Hiring Stayed Strong Last Month
Private companies added a net 122,000 jobs in May, ADP said, compared with 105,000 additions in April and economists expectations
OECD Warns of Severe Global Slowdown If Middle East Conflict Is Prolonged
Should the disruption to energy production and shipping stretch well into next year, global growth could slide to 2.1% in
U.S. Proposes at Least 10% Tariffs on Trading Partners After Probe Into Forced Labor
The Office of the U.S. Trade Representative said products of Canada, Mexico, Taiwan, the European Union and the United Kingdom,
Australia’s Economic Growth Slows
Australian economic growth slowed in the first quarter of the year, when the central bank started raising interest rates and
Fed Chairman Kevin Warsh has tapped two outside associates to advise him, one of whom previously helped write a conservative blueprint that recommended a radical restructuring of the central bank
One of the new advisers to the new Fed chairman previously helped write a chapter for Project 2025, the conservative
Fed Chairman Kevin Warsh has tapped two outside associates to advise him, one of whom previously helped write a conservative blueprint that recommended a radical restructuring of the central bank
One of the new advisers to the new Fed chairman previously helped write a chapter for Project 2025, the conservative
BOE’s Greene Says Case for Rise in Key Interest Rate is Growing
The case for raising rates, which were left unchanged in April, grows stronger the longer the conflict in the Middle
U.S. Job Openings Increased While Hiring Fell in April
U.S. job openings increased to 7.6 million in April, from 6.9 million in March. Meanwhile, the hiring rate worsened to
Eurozone Inflation Climbs Further, Paving Way for ECB Rate Hike
Inflation rose to 3.2% in May, a fourth-straight increase and the highest level since September 2023. Source link