Page 30 - Us Economy
US manufacturing sector expands faster in May amid supply constraints
The Purchasing Managers' Index stood at 56.1 per cent, up 0.7 percentage points from the April reading
 "US manufacturing sector expands faster in May amid supply constraints")
Inflation zaps US savings rate, warning sign for consumer spending: Report
The personal savings rate, as a percentage of disposable income, fell to 4.4 per cent in April, the lowest level since 2008 in the US, according to the Commerce Department
 "Inflation zaps US savings rate, warning sign for consumer spending: Report")
Wall Street analysts think any stock market rally will be short-lived
An analyst thinks earnings estimates remain too high and sees the S&P 500 trading close to 3,400 by the end of the second-quarter earnings season in mid-August
 "Wall Street analysts think any stock market rally will be short-lived")
Equities rise, yields fall after data shows US inflation may have peaked
Consumer spending, which accounts for more than two-thirds of US economic activity, increased 0.9% last month, and although inflation continued to increase in April, it was less than in recent months
 "Equities rise, yields fall after data shows US inflation may have peaked")
US economy contracted by 1.5% in Q1, but consumers kept spending
Last quarter's drop in the US gross domestic product the broadest gauge of economic output does not likely signal the start of a recession.
Uncertain US economic outlook jars markets amid Ukraine war, Fed rate hike
The outlook for the US economy is unusually cloudy as war rages in Ukraine, commodity prices surge and the Federal Reserve embarks on a tricky campaign to tame inflation with higher interest rates.
 "Uncertain US economic outlook jars markets amid Ukraine war, Fed rate hike")
US Prez Biden launches Indo-Pacific trade deal, warns over inflation
Nations joining the US in the Indo-Pacific Economic Framework are Australia, Brunei, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and Vietnam
 "US Prez Biden launches Indo-Pacific trade deal, warns over inflation")
Recession not inevitable, pain to last 'some time,' says Biden in Tokyo
We have problems that the rest of the world has, Biden said, but less consequential than the rest of the world has
 "Recession not inevitable, pain to last 'some time,' says Biden in Tokyo")
Sagging global economy burdens Biden ahead of US midterm elections
Foreign affairs and geopolitics have returned as issues that could shape the opinions of U.S. voters
US at 'very, very high risk' of recession, says Goldman Sachs' Blankfein
Goldman Sachs Senior Chairman Lloyd Blankfein urged companies and consumers to gird for a US recession
 "US at 'very, very high risk' of recession, says Goldman Sachs' Blankfein")
Surging prices of natural gas squeeze US industrial sector: Report
US natural gas futures have doubled this year, far more than the increases in retail gasoline and diesel that have made Americans angry at the US energy industry and the government
 "Surging prices of natural gas squeeze US industrial sector: Report")
Gold gains as dollar, Treasury yields weaken after US inflation data
A weaker dollar makes gold attractive for overseas buyers, while lower Treasury yields reduce the opportunity cost of holding zero-yield bullion
 "Gold gains as dollar, Treasury yields weaken after US inflation data")
Dollar hovers near two-decade high of 103.92 as US inflation moderates
The consumer price index climbed 8.3% on an annual basis in April, easing from 8.5% in March but outstripping the 8.1% estimate of economists
 "Dollar hovers near two-decade high of 103.92 as US inflation moderates")
US House approves $40 bn in Ukraine aid, beefing up Biden request
The House approved a fresh $40 billion Ukraine aid package as lawmakers beefed up President Biden's initial request, signalling a magnified, bipartisan commitment to thwart Russia's invasion
US consumer prices slow in April; inflation stays elevated at 8.3%
The consumer price index rose 0.3% last month, the smallest gain since last August, as Fed readies for more aggressive tightening
 "US consumer prices slow in April; inflation stays elevated at 8.3%")
US inflation might have slightly dipped in April from 40-year high: Report
US President Biden sought to take the initiative Tuesday and declared inflation the No. 1 problem facing families today" and my top domestic priority
 "US inflation might have slightly dipped in April from 40-year high: Report")
Banning abortion would hurt US economy: Treasury Secretary Janet Yellen
Eliminating the right to access abortion services "would have very damaging effects on the economy and would set women back decades," Yellen told lawmakers during a Senate Banking Committee hearing
 "Banning abortion would hurt US economy: Treasury Secretary Janet Yellen")
US Treasury Secretary Yellen sees possible 'soft landing' for US economy
"The Fed will need to be skillful and also lucky, but I believe it's a combination that is possible," Yellen said
 "US Treasury Secretary Yellen sees possible 'soft landing' for US economy")
US private sector adds 247,000 jobs in April; unemployment at 3.6% in March
Large firms hired 321,000 workers, medium-sized businesses added 46,000, while small companies cut 120,000 employees: Report
 "US private sector adds 247,000 jobs in April; unemployment at 3.6% in March")
Fed hikes rates half point, will shrink assets to curb US inflation
The US central bank will begin allowing its holdings of Treasuries and mortgage-backed securities to roll off in June.
 "Fed hikes rates half point, will shrink assets to curb US inflation")