US US real GDP growth slowed in the first quarter to an annualised pace of 2.3 %. One key reason for the slower growth rate was that consumer spending grew at just a 1.1% annualised clip. That is the slowest pace in more than four and a half years. Did something happen to surging consumer [...]
To understand the recent situation regarding China and the oil industry, it is important to note some key points that put things into context: Oil is the most traded commodity in the world. China is the world's largest consumer of oil. They only became the largest importer of oil in 2016, before that it was [...]
US Retail sales were above consensus and increased 0.6% in March, reversing the recent three-month string of declines. Winter weather in the Northeast, which was widely expected to have a greater adverse effect, was limited. The improvement was driven by auto sales, health and personal care and non-store retailers’ sales. Control group sales, which are [...]
US Those who were hoping for signs of firming inflation were not disappointed. The inflation celebration was kicked off on Tuesday with the release of March’s producer price index (PPI), which rose 0.3% ahead of expectations for a 0.1% gain. Besides the energy component, all major sub-sectors saw prices rise last month. Moreover, this now [...]
On Wednesday 21 March, the Federal Open Market Committee (FOMC) of the Federal Reserve Bank (Fed) announced they would raise the interest rates by 0.25 % to a new target range between 1.5 % and 1.75 %. The FOMC argues that compared to its last meeting in January 2018, the economic activity and labor market [...]
On Tuesday 3rd April, the U.S. released its initial list of 1,333 Chinese products that would be subject to a 25% tariff of roughly $50 billion. This includes products such as raw materials, construction machinery, agricultural equipment, electronics, medical devices and consumer goods. There will be a 60-day comment period, during which time businesses and [...]
US The March employment report marks another solid month of gains. The shortfall in employment growth was mostly due to swings in construction and retail payrolls. Construction payrolls added 65,000 jobs in February, which was driven by unseasonably mild weather, particularly in California. March saw the return of winter weather in the Northeast and a [...]
