Job openings in March plunged to 8.49 million, the lowest level in three years, according to the Bureau of Labor Statistics on Wednesday. … READ MORE >
Federal Reserve
Labor costs rise, complicating Fed’s decision on rate cuts
The employment cost index rose by 1.2% in the first quarter, up from 0.9% previously, while the year-over-year growth stayed elevated at 4.2%. … READ MORE >
American consumers continue to spend despite sticky inflation
Spending remained strong in March on the heels of robust income growth despite sticky inflation, according to Commerce Department released on Friday. … READ MORE >
GDP growth slows to 1.6% in first quarter, exaggerated by volatile trade and inventory data
Overall growth in U.S. gross domestic product fell to 1.6% in the first quarter, but the slowdown was exaggerated by volatile trade and inventory data, which provided a 1.2% drag on overall activity. … READ MORE >
Business equipment spending grows in March
The core capital goods shipments rose by 0.2% on a monthly basis, bringing the three-month moving average annualized pace to 2.0%. … READ MORE >
Regime change: Businesses face higher costs in nominal and real terms
Whether it is high single-digit borrowing costs for large multinationals or double-digit financing costs for middle market firms, elevated interest rates have become a fact of life for firm managers. … READ MORE >
Industrial production rebounds as housing starts plunge
Housing starts dropped by 14.7% to 1.32 million on an annualized rate, the lowest level since last August. … READ MORE >
U.S. consumer sentiment falls as inflation stays sticky
The University of Michigan’s consumer sentiment index fell to 77.9 in April from 79.4, according to data released on Friday. … READ MORE >
Hot inflation data dims prospects for a Fed rate cut in June
The year-ago consumer price index rose to 3.5% from 3.2% for overall inflation and stalled at 3.8% for the core inflation reading. … READ MORE >
Financial markets update: An improved outlook for corporate borrowing
With spreads on corporate bonds easing, borrowing by firms will bolster a sustained expansion and an economy that outperforms expectations this year. … READ MORE >