Tag - US inflation

US economic growth in first quarter falls short of expectations

Post Date: April 25, 2024

New York: The US economy expanded less than projected in the first three months of 2024 as exports and consumer spending declined, according to the Commerce Department. The first quarter saw the world's largest economy rise by 1.6 percent, according to the Commerce Department data, which is slightly lower than the economists' expectations of 2.4...

US inflation up 3.2% in February, no change in Fed’s stance


Washington: The US consumer price index increased 3.2 percent in February from a year ago. The consumer price index was in line with expectations of 3.1 percent. The consumer price index increased 0.4 percent from the previous month, reported the Labor Department. Core CPI, which excludes food and energy prices, increased 0.4 percent from the...

Global economy remains resilient: Janet Yellen


Mumbai: Strong U.S. economic growth has been a "key driver" of better than expected global growth, U.S. Treasury Secretary Janet Yellen said ahead of G20 finance officials’ meeting in Sao Paulo, Brazil. Yellen said the International Monetary Fund and other forecasters had projected a broad-based slowdown in the global economy in 2023 that did not...

Oil drops as sticky US inflation heightens demand concerns


Singapore: Oil prices fell as investor attention returned to the demand outlook after reports of higher producer prices in the U.S., the world’s biggest oil user, stoked worries that sticky inflation and higher interest rates would limit fuel consumption growth. U.S. producer prices increased more than expected in January amid strong gains in the costs...

Gold prices come under pressure on higher US inflation


Mumbai: Gold prices fell by Rs 804 per 10 grams in the spot market to Rs 61,590 as the US inflation rate remained higher than expected and this in turn might delay the much-expected US Fed interest cut programme this year. The market expected the first US Fed rate reduction to come by May before...