PARIS—The United Nations food agency’s world price index fell for a fifth month in a row in August, further from all-time highs hit earlier this year, as a resumption of grain exports from Ukrainian ports contributed to improved supply prospects. The Food and Agriculture Organization (FAO) said on Friday that its price index, which tracks…
World Food Price Index Falls for 5th Month in August
September 2, 2022
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Oil Prices on Track for Biggest Weekly Gain Since August
December 10, 2021
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LONDON—Oil prices were on track for their biggest weekly gain since late August, with market sentiment buoyed by easing concerns over the Omicron coronavirus variant’s impact on global economic growth and fuel demand. The Brent and WTI benchmarks were both on course for gains of more than 7 percent this week, their first weekly gain…
JPMorgan Cuts China Growth Forecast for Fifth Time Since August
November 5, 2021
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LONDON—JPMorgan cuts its fourth quarter growth forecast for China to 4.0 percent quarter-on-quarter from 5.0 percent on Friday, citing the impact of power shortages and the recurrence of COVID-19 clusters hitting consumer spending and services. “Looking back, we have downgraded China’s growth forecasts five times since August,” JPMorgan’s Haibin Zhu said in a note, adding…
German Industrial Orders Fall More Than Expected in August
BERLIN—German industrial orders fell more than expected in August on weaker demand from abroad following two months of unusually strong gains due to major contracts, data showed on Wednesday. The figures published by the Federal Statistics Office showed orders for goods ‘Made in Germany’ were down by 7.7 percent on the month in seasonally adjusted…
US Construction Spending Flat in August
WASHINGTON—U.S. construction spending was unexpectedly flat in August as an increase in public sector projects was offset by weakness in the private sector. The Commerce Department said on Friday that the unchanged reading in construction spending followed a 0.3 percent gain in July. Construction spending increased 8.9 percent on a year-on-year basis in August. Economists…
US Pending Home Sales Race to Seven-Month High in August
WASHINGTON—Contracts to buy U.S. previously owned homes rebounded to a seven-month high in August, but higher prices amid tight supply are slowing the housing market momentum. The National Association of Realtors (NAR) said on Wednesday its Pending Home Sales Index, based on signed contracts, jumped 8.1 percent last month to 119.5. That was the highest…
US Business Borrowing for Equipment Rises 21 Percent in August: ELFA
Borrowings by U.S. companies for capital investments rose 21 percent in August from a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Thursday. The companies signed up for $8.5 billion in new loans, leases and lines of credit last month, up from $7 billion a year earlier. However, borrowings fell 14 percent…
US Consumer Sentiment Steadies in September After August Plunge: Umich
U.S. consumer sentiment steadied in early September after plunging the month before to its lowest level in nearly a decade, but consumers continue to have a bleak view of the outlook amid a stiff bout of inflation, a survey showed on Friday. The University of Michigan said its consumer sentiment indexedged up to 71 in…
UK Public Inflation Expectations Tick Higher in August: BoE Survey
LONDON—The British public’s expectations for inflation rose last month but remained within levels seen since the start of the COVID-19 pandemic, despite a recent jump in headline inflation, a Bank of England survey showed on Friday. Inflation expectations for the year ahead rose to 2.7 percent in August from 2.4 percent in May, according to…
Australian Employment Slides in August as Lockdowns Slash Workers’ Hours
SYDNEY—Australian employment dived in August as coronavirus lockdowns in Sydney and Melbourne forced businesses to lay off workers and slash hours, while the jobless rate was nudged lower by a sharp fall in the number of people looking for work. Thursday’s data from the Australian Bureau of Statistics (ABS) showed employment fell by 146,000 in…
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