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Economic News
Coronavirus depresses U.S. consumer spending in April
WASHINGTON (Reuters) - U.S. consumer spending suffered another month of record decline in April as the COVID-19 pandemic undercut demand,…
Fed’s Powell to speak as focus turns from crisis to bond-buying
By Howard SchneiderWASHINGTON (Reuters) - Federal Reserve Chair Jerome Powell will speak in a public webcast on Friday, with the details…
India’s economy seen slowing rapidly in March quarter, with worse to come
By Manoj KumarNEW DELHI (Reuters) - Gross domestic product data out later on Friday is expected to show India's economy grew at its…
U.S. weekly jobless claims still elevated; core capital goods orders fall
By Lucia MutikaniWASHINGTON (Reuters) - The number of Americans filing for unemployment benefits held above 2 million last week for a…
Cuomo to press Trump on reviving U.S. economy with roads, bridges in White House meeting
WASHINGTON (Reuters) - New York Governor Andrew Cuomo will press President Donald Trump to invest in the nation's roads, bridges and rails…
A Florida toy importer braces for retail upheaval
By Rajesh Kumar Singh(Reuters) - Most U.S. states have begun to reopen their economies, but Jay Foreman, chief executive of Basic Fun,…
Rural migrants suffer most amid China’s unemployment misery
By Gabriel CrossleyBEIJING (Reuters) - Migrant workers Zhang Jianpeng and his wife returned to Beijing in late April, after nearly three…
UK retailers suffer record fall in April amid COVID lockdown
LONDON (Reuters) - British retail sales fell by the most on record in April as much of the sector was shuttered by the government's…
Euro zone April inflation revised down to nearly four-year low
BRUSSELS (Reuters) - Euro zone annual inflation in April was 0.3%, the lowest level in nearly four years, according to final data released…
Toyota plans to cut Japan car output by 122,000 units in June due to virus
TOKYO (Reuters) - Toyota Motor Corp (T:7203) on Friday said it would reduce vehicle production in Japan by 122,000 units in June, as a lack…