IMF says global economy ‘limping along,’ cuts growth forecast for China, euro area
Global growth forecast unchanged at 3.0% in 2023Inflation dropping but 'not quite there yet'-IMF chief economistIMF raises U.S. forecast, cuts...
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Surging bond yields add to Canadian homeowners’ mortgage pain as renewals loom
TORONTO, Oct 7 (Reuters) - The roughly 75,000 Canadian homeowners awaiting mortgage renewal notices next month are bracing for a shock interest rate jump due to a surprise rise in global bond yields, which will further squeeze already tight household budgets.In Canada, homeowners can take out five-year mortgages, unlike in the U.S. where customers can snag a 30-year mortgage. This means many Canadians who locked into sub 2% fixed-rate mortgages five years back are preparing for renewal letters with a steep rise in interest rates, made worse by the bonds...
Low weekly jobless claims, shrinking trade deficit boost US economic picture
Weekly jobless claims increase 2,000 to 207,000Continuing claims slip 1,000 to 1.664 millionTrade deficit contracts 9.9% to $58.3 billion in...
UK business downturn eases after inflation data, BoE pause – PMI
A general view of the financial district of London is seen in London, Britain, October 19, 2016. REUTERS/Hannah McKay/File photo...
Euro zone economy likely contracted in Q3
A sign reading "Anti-inflation challenge, second price cut" is seen near shelves at a supermarket in Nice, France, June 15,...
US manufacturing sector nears recovery; construction spending solid
Manufacturing PMI rises to 49.0 in September from 47.6 in AugustNew orders improve; order backlogs shrink furtherFactory employment increases; prices...
US inflation outlook brightens as underlying price pressures subside
Consumer spending increases 0.4% in AugustCore PCE price index gains 0.1%; up 3.9% year-on-yearPersonal income rises 0.4%; saving rate dips...
US GDP growth unrevised at 2.1% in second quarter as economy shows resilience
Second-quarter GDP growth unrevised at 2.1%Inflation slows in second quarterWeekly jobless claims increase 2,000 to 204,000Continuing claims rise 12,000 to...
Harsh reality of ‘higher-for-longer’ rates looms over US stocks
NEW YORK, Sept 27 (Reuters) - As the Federal Reserve’s hawkish stance boosts Treasury yields and slams stocks, some investors...
UK recession risk deepens but consumers stay unfazed
A branch of the discount retail homeware store Wilko is seen in Altrincham, Britain, September 11, 2023. REUTERS/Molly Darlington/File Photo...
