U.S. GDP Climbs Much Less Than Expected In Q1
(RTTNews) - A report released by the Commerce Department on Thursday showed the U.S. economy grew by much less than expected in the first quarter of 2024.
The Commerce Department said gross domestic product increased by 1.6 percent in the first quarter after surging by 3.4 percent in the fourth quarter of 2023. Economists had expected GDP to jump by 2.5 percent.
The notable slowdown in GDP growth primarily reflected decelerations in consumer spending, exports, and state and local government spending and a downturn in federal government spending.
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U.S. Consumer Sentiment Tumbles To Six-Month Low In May
A report released by the University of Michigan on Friday showed a substantial deterioration in U.S. consumer sentiment in the month of May. The University of Michigan said its consumer sentiment index plunged to 67.4 in May from 77.2 in April. Economists had expected the index to edge down to 76.0.
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5h 14min ago
U.S. Weekly Jobless Claims Climb To Highest Level Since August
First-time claims for U.S. unemployment benefits rose by much more than expected in the week ended May 4th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 231,000, an increase of 22,000 from the previous week's revised level of 209,000. Economists had expected jobless claims to inch up to 210,000.
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1 day ago
U.S. Weekly Jobless Claims Climb To 231,000
First-time claims for U.S. unemployment benefits rose by much more than expected in the week ended May 4th, according to a report released by the Labor Department on Thursday.
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1 day ago
U.S. Wholesale Inventories Decrease 0.4% In March, In Line With Estimates
The Commerce Department released a report on Wednesday showing a pullback by U.S. wholesale inventories in the month of March. The report said wholesale inventories fell by 0.4 percent in March after rising by 0.2 percent in February. The decrease by wholesale inventories matched economist estimates.
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2 days ago
U.S. Mortgage Applications Rebound By 2.6% In Week Ended 5/3
Mortgage applications in the U.S. saw a notable rebound in the week ended May 3rd, according to a report released by the Mortgage Bankers Association on Wednesday.
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2 days ago
U.S. Service Sector Activity Contracts For First Time Since December 2022
After growing for fifteen consecutive months, U.S. service sector activity unexpectedly contracted in the month of April, according to a report released by the Institute for Supply Management on Friday. The ISM said its services PMI dipped to 49.4 in April from 51.4 in March, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 52.0.
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7 days ago
U.S. Services PMI Unexpectedly Indicates Contraction In April
After growing for fifteen consecutive months, U.S. service sector activity unexpectedly contracted in the month of April, according to a report released by the Institute for Supply Management on Friday.
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7 days ago
U.S. Job Growth Falls Short Of Estimates In April, Unemployment Rate Ticks Higher
After reporting stronger than expected job growth over the past several months, the Labor Department released a report on Friday showing employment in the U.S. increased by much less than expected in the month of April. The Labor Department said non-farm payroll employment climbed by 175,000 jobs in April after surging by an upwardly revised 315,000 jobs in March.
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7 days ago
