First-quarter economic growth was actually 2%, up from 1.3% first reported in major GDP revision
The U.S. economy showed much stronger-than-expected growth in the first quarter than previously thought.
CNBC Economy
Markets are pricing in rate cuts too soon, IMF's Gopinath says
Major central banks will have to hold rates high for much longer than some investors expect, the IMF's Gita Gopinath told CNBC Tuesday.
Corporate bankruptcies and defaults are surging – here's why
The corporate default rate is up and rising as interest rates remain elevated, making it more expensive for companies to refinance debt.
European business activity slows in June as higher interest rates begin to bite
S&P Global's Chris Williamson described the numbers as "worrying" as the euro zone's flash composite PMI dropped to 50.3 in June.
Bank of England's conundrum deepens as inflation and labor market stay hot
The Bank of England is "caught between a rock and a hard place" as it prepares for a key monetary policy decision.
This investment manager is looking to bridge the racial wealth gap
Economic freedom has been more elusive for Black people. Veteran portfolio manager Jim Casselberry is trying to do something about that.
Rate cuts, hikes and pauses: The world's central banks just made very different decisions
Major central banks are taking very different approaches to monetary policy, as the global economy "is no longer synchronized," an expert said.
Brits are facing a major mortgage crisis as lending rates soar
The average two-year fixed rate rose above 6% on Monday as experts warned of chaos in a market with fewer available products.
Inflation rose at a 4% annual rate in May, the lowest in 2 years
The consumer price index was expected to rise 0.1% in May, according to the Dow Jones consensus estimate.
UK short-term borrowing costs shoot past 'mini-budget' crisis levels on strong labor data
The two-year gilt yield hit its highest level since late August 2008.
Inflation report Tuesday will be critical for the direction of Fed policy
The consumer price index is expected to show that all-items inflation increased just 0.1% last month, equating to a 4% annual rate.
Inflation outlook hits two-year low in latest New York Fed survey
The Survey of Consumer Expectations for May showed one-year inflation expectations down 0.3 percentage point to a 4.1% rate.
Jobless claims increase more than expected to their highest since October 2021
Initial filings for unemployment benefits totaled a seasonally adjusted 261,000 for the week ended June 3, an increase of 28,000.
Euro zone enters recession after Germany, Ireland growth revision
The euro zone entered a recession in the first quarter of this year and economists are not optimistic for the coming months.
World Bank sees major economies growing at much slower pace thanks to higher rates and banking stress
Growth forecasts for advanced economies project just 0.7% increase this year, down from 2.6% in 2022.
Here’s where the jobs are for May 2023 — in one chart
Professional and business services led job creation for the month with 64,000 new hires.
Unemployment dropped among Hispanic men and women in May but rose for Black workers
The U.S. unemployment rate rose overall in May, but declined for Latino workers, according to the latest nonfarm payrolls report.
Payrolls rose 339,000 in May, much better than expected in resilient labor market
Nonfarm payrolls were expected to increase by 190,000 in May, according to Dow Jones.
Here's what to watch out for in Friday's jobs report for May
Economists surveyed by Dow Jones expect job growth in May of 190,000, a decline from the 253,000 in April.
Private payrolls rose by 278,000 in May, well ahead of expectations, ADP says
The U.S. labor market posted another month of surprising strength in May as companies added jobs at a pace well above expectations.
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