Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Lucia Mutikani"


25 mentions found


U.S. consumer sentiment rebounds in early June - survey
  + stars: | 2021-06-11 | by ( Reuters Staff | ) www.reuters.com sentiment -0.98   time to read: 1 min
WASHINGTON, June 11 (Reuters) - U.S. consumer sentiment rebounded in early June as inflation fears subsided and households grew more optimistic about future economic growth and employment, a survey showed on Friday. The University of Michigan said its preliminary consumer sentiment index increased to 86.4 in the first half of this month from a final reading of 82.9 in May. The survey’s gauge of current economic conditions edged up to a reading of 90.6 from 89.4 in May. Its measure of consumer expectations rose to 83.8 from 78.8. The survey’s one-year inflation expectations fell to 4.0 from 4.6%, while its five-to-10-year inflation outlook dropped to 2.8% from 3.0% in May.
Persons: Lucia Mutikani, Chizu Nomiyama Organizations: The University of Michigan, Reuters
Britni Mann speaks with a potential employer during a job fair at Hembree Park in Roswell, Georgia, U.S. May 13, 2021. But the pent-up demand unleashed by the resumption of business operations is straining the supply chain and fanning inflation pressures. That would be the biggest year-on-year increase since September 2008 and follow a 4.2% rise in April. Though layoffs are abating, initial claims remain well above the 200,000 to 250,000 range that is viewed as consistent with healthy labor market conditions. The benefits being terminated early include a weekly $300 unemployment subsidy, which businesses say is discouraging the jobless from seeking work.
Persons: Britni Mann, Chris Aluka Berry, Jerome Powell, Sam Bullard Organizations: REUTERS, Labor Department, CPI, Thomson Locations: Roswell , Georgia, U.S, Wells, Charlotte , North Carolina, Florida, Texas
U.S. labor market recovery gaining steam; inflation heating up
  + stars: | 2021-06-10 | by ( Lucia Mutikani | ) www.reuters.com + 0.00   time to read: +6 min
Surging prices for used cars and trucks accounted about one-third of the rise in consumer inflation reported by the Labor Department on Thursday. The recovering labor market and accelerating inflation will have no impact on monetary policy. "As the cycle matures, these inflation pressures will subside owing to the structural forces that have kept inflation low for long." Excluding the volatile food and energy components, the CPI increased 0.7% after soaring 0.9% in April. Though layoffs are subsiding, initial claims remain well above the 200,000 to 250,000 range that is viewed as consistent with healthy labor market conditions.
Persons: Britni Mann, Chris Aluka Berry, Jerome Powell, Anu Gaggar, Sam Bullard Organizations: REUTERS, Labor Department, Commonwealth Financial Network, Reuters, Treasury, CPI, Fed, Thomson Locations: Roswell , Georgia, U.S, Wells, Charlotte , North Carolina, Florida, Texas
Reopening U.S. economy fuels inflation, labor market recovery
  + stars: | 2021-06-10 | by ( Lucia Mutikani | ) www.reuters.com + 0.00   time to read: +6 min
May's inflation drivers appear to be temporary, fitting in with Federal Reserve Chair Jerome Powell's repeated assertion that higher inflation will be transitory. "Areas not impacted by the pandemic are moderating the CPI rise. In another report on Thursday, the Labor Department said initial claims for state unemployment benefits fell 9,000 a seasonally adjusted 376,000 for the week ended June 5. Though layoffs are subsiding, claims remain well above the 200,000 to 250,000 range that is viewed as consistent with a healthy labor market. At least 15.3 million people were on unemployment benefits under all programs during the week ended May 22.
Persons: Jerome Powell's, Chris Low, Britni Mann, Chris Aluka Berry Read, Charlie Ripley Organizations: COVID, Federal, FHN, Reuters, CPI, REUTERS, Fed, Allianz Investment Management, Treasury, Employers, Labor Department, Thomson Locations: New York, Roswell , Georgia, U.S, California, Pennsylvania, Florida, Texas
May's inflation drivers appear to be temporary, fitting in with Federal Reserve Chair Jerome Powell's repeated assertion that higher inflation will be transitory. Food prices rose 0.4%, but gasoline declined for a second straight month. In another report on Thursday, the Labor Department said initial claims for state unemployment benefits fell 9,000 to a seasonally adjusted 376,000 for the week ended June 5. Though layoffs are subsiding, claims remain well above the 200,000 to 250,000 range that is viewed as consistent with a healthy labor market. At least 15.3 million people were on unemployment benefits under all programs during the week ended May 22.
Persons: Jerome Powell's, Chris Low, Britni Mann, Chris Aluka Berry Read, , Charlie Ripley, Isfar Munir Organizations: Labor Department, COVID, Federal, FHN, Reuters, CPI, REUTERS, Fed, Allianz Investment Management, Treasury, Employers, Citigroup, Thomson Locations: New York, Roswell , Georgia, U.S, California, Pennsylvania, Florida, Texas, rehiring
U.S. wholesale inventories rise solidly; supply constraints loom
  + stars: | 2021-06-09 | by ( Lucia Mutikani | ) www.reuters.com + 0.00   time to read: +2 min
REUTERS/Shannon StapletonU.S. wholesale inventories increased strongly in April as businesses replenished stocks to meet pent-up demand, but supply constraints could make it harder to maintain the current pace of inventory rebuilding. The Commerce Department said on Wednesday that wholesale inventories rose 0.8% as estimated last month. Wholesale inventories increased 5.2% in April from a year earlier. Economists polled by Reuters had forecast that April's increase in wholesale inventories would be unrevised. Though wholesale inventories of motor vehicles rose in April, they were down 3.3% on a year-on-year basis.
Persons: Shannon Stapleton, Matt Colyar, Mike Englund Organizations: REUTERS, Commerce Department, Reuters, West Chester Pennsylvania, Manufacturers, Thomson Locations: Robbinsville , New Jersey, U.S, West Chester, Boulder , Colorado
U.S. trade deficit narrows in April
  + stars: | 2021-06-08 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: 1 min
WASHINGTON, June 8(Reuters) - The U.S. trade deficit retreated from a record high in April amid a decline in imports, but the improvement was likely temporary as domestic demand remains robust. The trade deficit dropped 8.2% to $68.9 billion in April, the Commerce Department said on Tuesday. Data for March was revised higher to show the gap widening to an all-time high of $75.0 billion instead of $74.4 billion as previously reported. Economists polled by Reuters had forecast a $69.0 billion trade deficit in April. (Reporting by Lucia Mutikani; Editing by Andrew Heavens)
Persons: Lucia Mutikani, Andrew Heavens Organizations: Commerce Department, Reuters Locations: U.S
U.S. trade deficit narrows in April as imports fall
  + stars: | 2021-06-08 | by ( Lucia Mutikani | ) www.reuters.com + 0.00   time to read: +4 min
The trade deficit dropped 8.2% to $68.9 billion in April, the Commerce Department said on Tuesday. Economists polled by Reuters had forecast a $69.0 billion trade deficit in April. Still, the trade deficit was likely to remain elevated as economic activity in the United States rebounds faster than its global rivals, also thanks to massive fiscal stimulus. The resumption of international travel and in-person learning at U.S. universities in the fall is likely to result in an improvement in services trade. When adjusted for inflation, the goods trade deficit decreased $7.2 billion to $98.6 billion in April.
Persons: Carlo Allegri, Bill Adams, Chris Rupkey, Michael Pearce Organizations: REUTERS, COVID, PNC Financial, Commerce Department, Reuters, Goods, Treasury, Capital Economics, Trade, Thomson Locations: Miami , Florida, U.S, Pittsburgh , Pennsylvania, United, New York
U.S. job openings, quits hit record highs in April
  + stars: | 2021-06-08 | by ( Lucia Mutikani | ) www.reuters.com + 0.00   time to read: +6 min
The Labor Department's monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday also showed layoffs hit a record low in April. There were an additional 115,000 job openings in other services, while vacancies at manufacturers of long-lasting goods increased 78,000. Economists polled by Reuters had forecast job openings would rise to 8.3 million in April. The job openings rate shot up to an all-time high of 6.0% from 5.4% in March. Rising job openings and voluntary quits could pressure employers to raise wages.
Persons: Carlo Allegri, Conrad DeQuadros, Bill Adams Organizations: REUTERS, Labor, Survey, Brean, Reuters, Government, COVID, Treasury, GAP, Commerce Department, Economists, Goods, PNC Financial, Auto, Thomson Locations: Miami , Florida, U.S, COVID, New York, South, Midwest, West, Pittsburgh , Pennsylvania
Slower hiring stirred debate among some economists that growth was stagnating at a time when inflation was rising. “With the reopening of the economy, we should be seeing very strong job growth,” said Ryan Sweet, a senior economist at Moody’s Analytics in West Chester, Pennsylvania. But job growth could also exceed expectations. The National ADP employment report on Thursday showed private companies hired the most workers in 11 months in May. The ADP report, however, has a poor track record predicting the private payrolls count in the Labor Department’s employment report.
Persons: Mike Blake The, , Ryan Sweet, nonfarm payrolls, payrolls, David Kelly, Jerome Powell, , Joel Naroff Organizations: WASHINGTON, REUTERS, Mike Blake The Labor, Employment, COVID, U.S . Centers for Disease Control, Government, Institute, Supply, Labor, Asset Management, Fed, Naroff Locations: Oceanside , California, U.S, COVID, West Chester , Pennsylvania, New York, Holland , Pennsylvania
U.S. job growth picks up in May; unemployment rate falls to 5.8%
  + stars: | 2021-06-04 | by ( Lucia Mutikani | ) www.reuters.com + 0.00   time to read: +2 min
REUTERS/Amira KaraoudNonfarm payrolls increased by 559,000 jobs last month, the Labor Department said in its closely watched employment report on Friday. Data for April was revised slightly higher to show payrolls rising by 278,000 jobs instead of 266,000 as previously reported. The unemployment rate fell to 5.8% from 6.1% in April. A worker shortage blamed on childcare complications, generous unemployment checks and lingering fears over COVID-19 sharply restrained hiring. That, together with more people vaccinated and schools fully reopening in the fall, is expected to ease the worker scarcity by September.
Persons: Amira Karaoud Nonfarm, Organizations: WASHINGTON, REUTERS, Labor Department, Reuters, COVID, U.S . Centers for Disease Control, Government Locations: Louisville, U.S, COVID
U.S. job growth picks up; wages increase solidly
  + stars: | 2021-06-04 | by ( Lucia Mutikani | ) www.reuters.com + 0.00   time to read: +4 min
There has been handwringing among some economists and investors that growth was stagnating at a time when inflation was rising. “There would have been many more hires if employers could find more people.”Nonfarm payrolls increased by 559,000 jobs last month. UNEMPLOYMENT RATE FALLSWith a record 8.1 million jobs to fill, employers are raising wages. The unemployment rate fell to 5.8% from 6.1% in April. The jobless rate has been understated by people misclassifying themselves as being “employed but absent from work.” Without this problem, the unemployment rate would have been 6.1%.
Persons: Amira Karaoud, , Chris Low, Jerome Powell Organizations: WASHINGTON, REUTERS, Labor, FHN, Reuters, COVID, U.S . Centers for Disease Control, Government, Treasury, Fed Locations: Louisville, U.S, COVID, New York
Growth is being supported by vaccinations against COVID-19, massive fiscal stimulus and the Federal Reserve’s ultra-easy monetary policy stance. “There would have been many more hires if employers could find more people.”Nonfarm payrolls increased by 559,000 jobs last month. Data for April was revised higher to show payrolls rising by 278,000 jobs instead of 266,000 as previously reported. The unemployment rate fell to 5.8% from 6.1% in April. The jobless rate has been understated by people misclassifying themselves as being “employed but absent from work.” Without this problem, the unemployment rate would have been 6.1%.
Persons: April’s nonfarm, , Chris Low, Marty Walsh, jobseeking, Walsh, Amira Karaoud Stocks, Jerome Powell, Jim O’Sullivan, Charlie Ripley Organizations: WASHINGTON, Labor, COVID, Federal, FHN, Reuters, U.S . Centers for Disease Control, Government, REUTERS, Treasury, Fed, Securities, Manufacturing, Allianz Investment Management Locations: COVID, New York, America, Louisville, U.S
April’s nonfarm payrolls count, which delivered about a quarter of the new jobs economists had forecast, caused handwringing among some analysts and investors that growth was stagnating at a time when inflation was rising. “There would have been many more hires if employers could find more people.”Nonfarm payrolls increased by 559,000 jobs last month after rising 278,000 in April. That left employment about 7.6 million jobs below its peak in February 2020. Graphic: Net change in jobs since Feb. 2020 -WILLING WORKERS SCARCEBut labor shortages could remain a fixture. Graphic: Jobs by industry -The unemployment rate fell to 5.8% from 6.1% in April.
Persons: April’s nonfarm, , Chris Low, Marty Walsh, Walsh, ” Stocks, Amira Karaoud, Jerome Powell, Powell, Kevin Cummins Organizations: WASHINGTON, Labor, Federal, FHN, Reuters, Government, Treasury, Chamber of Commerce, REUTERS, Fed, NatWest Markets, Manufacturing Locations: COVID, New York, America, U.S, Louisville, Stamford , Connecticut
A reading above 50 indicates growth in the services sector, which accounts for more than two-thirds of U.S. economic activity. The rise in the services industry index partly reflected a jump in the survey’s measure of supplier deliveries to a reading of 70.4 from 66.1 in April. The survey’s measure of backlog orders soared to a reading of 61.1 from 55.7 in April. The ISM survey’s measure of new orders for the services industry edged up to a reading of 63.9 from 63.2 in April. The survey’s measure of services industry employment dropped to 55.3 from a reading of 58.8 in April.
Persons: Kevin Lamarque, Jerome Powell, nonfarm, payrolls Organizations: WASHINGTON, Delta Airlines, Washington's Reagan, REUTERS, Institute for Supply Management, Reuters, Federal, Fed, Labor Department Locations: U.S, Washington , U.S
That was underscored by other data on Thursday showing private payrolls increasing by the most in 11 months in May, spurred by robust demand amid a rapidly reopening economy. Initial claims for state unemployment benefits fell 20,000 to a seasonally adjusted 385,000 for the week ended May 29. Economists had forecast private payrolls would increase by 650,000 jobs in May. However, it has a poor track record predicting the private payrolls count in the employment report because of methodology differences. According to a Reuters survey of economists, private payrolls likely increased by 600,000 jobs in May after rising only 218,000 in April.
Persons: Amira Karaoud, Rubeela Farooqi Organizations: REUTERS, Reuters, Treasury, ADP, Moody's, Labor, Workers, U.S, Employers, Thomson Locations: Louisville, U.S, White Plains , New York, Texas, Florida
That was underscored by other data on Thursday showing private payrolls increasing by the most in 11 months in May, spurred by robust demand amid a rapidly reopening economy. Initial claims for state unemployment benefits fell 20,000 to a seasonally adjusted 385,000 for the week ended May 29. "Less money paid out as unemployment benefits will slow economic growth if it does not lead to new paychecks quickly." Economists had forecast private payrolls would increase by 650,000 jobs in May. It, however, has a poor track record predicting the private payrolls count in the employment report because of methodology differences.
Persons: Amira Karaoud, Rubeela Farooqi, Chris Rupkey, nonfarm payrolls, Nancy Vanden Houten Organizations: REUTERS, Reuters, Treasury, ADP, Moody's, Labor, Institute for Supply Management, Workers, Oxford Economics, U.S, Employers, Thomson Locations: Louisville, U.S, White Plains , New York, Texas, Florida, New York
WASHINGTON (Reuters) -U.S. manufacturing activity picked up in May as pent-up demand amid a reopening economy boosted orders, but unfinished work piled up because of shortages of raw materials and labor. According to the ISM, worker absenteeism and short-term shutdowns because of shortages of parts and workers continued to limit manufacturing’s growth potential. The ISM’s index of national factory activity increased to a reading of 61.2 last month from 60.7 in April. A reading above 50 indicates expansion in manufacturing, which accounts for 11.9% of the U.S. economy. Sixteen manufacturing industries, including furniture, machinery, transportation equipment, computer and electronic products, and electrical equipment, appliances and components reported growth last month.
Persons: Charles Mostoller, , , Jim Baird, Plante, Jerome Powell, nonfarm, payrolls, James Knightley Organizations: WASHINGTON, BMW, REUTERS, for Supply Management, Financial, Reuters, COVID, Treasury, Labor, Federal Reserve, ING Locations: Greer , South Carolina, U.S, Kalamazoo , Michigan, United States, ” U.S, New York
WASHINGTON (Reuters) - U.S. manufacturing activity picked up in May as pent-up demand amid a reopening economy boosted orders, but unfinished work piled up because of shortages of raw materials and labor. According to the ISM, worker absenteeism and short-term shutdowns because of shortages of parts and workers continued to limit manufacturing’s growth potential. The ISM’s index of national factory activity increased to a reading of 61.2 last month from 60.7 in April. Sixteen manufacturing industries, including furniture, machinery, transportation equipment, computer and electronic products, and electrical equipment, appliances and components reported growth last month. Suppliers took much longer to deliver to manufacturers last month, with the supplier deliveries index jumping to 78.8.
Persons: Charles Mostoller, , , Jim Baird, Plante, Sarah House, Jerome Powell, nonfarm, payrolls, James Knightley Organizations: WASHINGTON, BMW, REUTERS, for Supply Management, Financial, Reuters, PMI, COVID, Commerce Department, Treasury, Labor, Federal Reserve, ING Locations: Greer , South Carolina, U.S, Kalamazoo , Michigan, United States, , Wells, Charlotte , North Carolina, New York
U.S. inflation surges in April; consumer spending moderates
  + stars: | 2021-05-28 | by ( Lucia Mutikani | ) www.reuters.com + 0.00   time to read: +4 min
Fed Chair Jerome Powell has repeatedly stated that higher inflation will be transitory, with supply chains expected to adapt and become more efficient. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.5% last month. When adjusted for inflation, consumer spending slipped 0.1% after jumping 4.1% in March. Despite last month’s dip in the so-called real consumer spending, March’s solid increase put consumption on a higher growth trajectory in the second quarter. Consumer spending powered ahead at a 11.3% annualized rate in the first quarter, contributing to the economy’s 6.4% growth pace.
Persons: Lawrence Bryant, Jerome Powell, , Ryan Sweet, subsiding Organizations: WASHINGTON, REUTERS, Commerce Department, U.S, Reuters, Treasury, Consumer Locations: St, Louis , Missouri, U.S, West Chester , Pennsylvania
Pent-up demand, shortages fuel U.S. inflation
  + stars: | 2021-05-28 | by ( Lucia Mutikani | ) www.reuters.com + 0.00   time to read: +6 min
Fed Chair Jerome Powell has repeatedly stated that higher inflation will be transitory. It has signaled it could tolerate higher inflation for some time to offset years in which inflation was lodged below its target, a flexible average. Economists polled by Reuters had forecast the core PCE price index rising 0.6% in April and surging 2.9% year-on-year. “This is basically the transitory sweet spot.”Graphic - U.S. inflation heats up:INCOME PLUNGESSome economists are not convinced that higher inflation will be temporary. When adjusted for inflation, consumer spending slipped 0.1% after jumping 4.1% in March.
Persons: Lawrence Bryant, Jerome Powell, , Gus Faucher, Jamie Cox, Joel Naroff, Organizations: WASHINGTON, REUTERS, Commerce Department, PNC Financial, , Reuters, Treasury, Harris Financial Group, University of Michigan, Naroff, Consumer Locations: St, Louis , Missouri, U.S, Pittsburgh , Pennsylvania, Richmond , Virginia, Holland , Pennsylvania
There is, however, no consensus that the generous unemployment benefits are keeping people home. These so-called core capital goods orders increased 1.6% in March. Shipments of core capital goods gained 0.9% after rising 1.5% in March. Core capital goods shipments are used to calculate equipment spending in the GDP measurement. (Graphic: Core capital goods, )With households sitting on at least $2.3 trillion in excess savings, demand booming, inventories low and profits rebounding, businesses are likely to continue investing in equipment to boost production, supporting manufacturing.
Persons: Bryan Woolston, , Scott Hoyt, , Daniel Silver, Jay Bryson, Chris Low Organizations: WASHINGTON, Kentucky, Center, REUTERS, Labor Department, Reuters, COVID, Treasury, Commerce Department, Commerce, FHN Locations: Frankfort , Kentucky, U.S, West Chester , Pennsylvania, Washington, Florida, New Jersey, United States, Texas, Wells, Charlotte , North Carolina, New York
The Conference Board said its consumer confidence index slipped to a reading of 117.2 this month from 117.5 in April, the highest level since February 2020. The survey’s present situation measure, based on consumers’ assessment of current business and labor market conditions, increased to a reading of 144.3 from 131.9 last month. The jump in the so-called labor market differential this month likely reflected a record 8.1 million job openings. The Conference Board survey showed the share of consumers expecting an increase in income over the next six months fell to 14.5% from 17.4% in April. Richmond Fed President Thomas Barkin said on Tuesday he didn’t see the leverage in the housing market “going to excess levels yet.”
Persons: Eduardo Munoz, Thomas Barkin, Organizations: WASHINGTON, Macy's, REUTERS, Conference, Board, Reuters, Conference Board, Treasury, Labor, Commerce Department, West ., Federal Housing Finance Agency, Federal Reserve, Richmond Fed Locations: New York City , New York, U.S, Midwest
But the expectations index, based on consumers’ short-term outlook for income, business and labor market conditions, fell to 99.1 from 107.9 in April. The jump in the so-called labor market differential this month likely reflected a record 8.1 million job openings. Demographics favor the housing market. A third report showed the S&P CoreLogic Case-Shiller house price index rose 13.2% in March from a year ago, the largest increase since December 2005, after rising 12.0% in February. Richmond Fed President Thomas Barkin said on Tuesday he didn’t see the leverage in the housing market “going to excess levels yet.”
Persons: Eduardo Munoz, , Joel Naroff, Bernard Yaros, Thomas Barkin Organizations: WASHINGTON, Macy's, REUTERS, Conference, Naroff, Board, Reuters, Conference Board, Treasury, Labor, Commerce Department, Federal Housing Finance Agency, Federal Reserve, Richmond Fed Locations: New York City , New York, U.S, Holland , Pennsylvania, West Chester , Pennsylvania
The Conference Board said its consumer confidence index slipped to a reading of 117.2 this month from 117.5 in April, the highest level since February 2020. The survey’s present situation measure, based on consumers’ assessment of current business and labor market conditions, increased to a reading of 144.3 from 131.9 last month. The jump in the so-called labor market differential this month likely reflected a record 8.1 million job openings. The Conference Board survey showed the share of consumers expecting an increase in income over the next six months fell to 14.5% from 17.4% in April. Richmond Fed President Thomas Barkin said on Tuesday he didn’t see the leverage in the housing market “going to excess levels yet.”
Persons: Thomas Barkin, Organizations: Conference, Board, Reuters, Conference Board, Treasury, Labor, Commerce Department, West ., Federal Housing Finance Agency, Federal Reserve, Richmond Fed Locations: WASHINGTON, Midwest
Total: 25