Business News Asia
The Mortgage Bankers Association (MBA) reported a 9% drop in the number of applicants for mortgage loans last week, despite the decline in mortgage interest rates. The decline was even steeper for refinance loans, which saw a 7% decrease last…
According to Automatic Data Processing Inc. (ADP), private sector payrolls in the United States rose by only 106,000 in January, which is the lowest level since January 2022. The increase was lower than analysts’ expectations of 178,000 jobs after surging…
S&P Global reported that the final US manufacturing purchasing managers’ index (PMI) increased to 46.9 in January from 46.2 in December and above the preliminary reading of 46.8. Despite the rise, the index remained below the 50 level, indicating a…
According to the US Commerce Department, construction spending declined by 0.4% in December compared to the previous month. Despite the decrease, construction spending increased by 7.7% year over year and 10.2% for the full year of 2022. While private construction…
The United States labor market continues to show strength, with a new report from the Bureau of Labor Statistics revealing a significant increase in job openings in December. According to the Job Openings and Labor Turnover Survey (JOLTS), job openings…
According to the latest S&P Corelogic Case-Shiller survey, the growth of home prices in the United States has slowed down in November. The nationwide US Home Price Index saw an increase of 8.2% YoY, which is lower than the 9.2%…
According to the US Commerce Department, American consumer spending decreased by 0.2% in December, missing analysts’ predictions of a 0.1% decline. This follows a 0.1% decrease in November. On the other hand, consumer income rose 0.2% in December, meeting analysts’…
According to data released by the US Commerce Department, the Personal Consumption Expenditure (PCE) index, which includes food and energy, rose by 5% in December compared to the previous year. This marks the lowest level of inflation since September 2021…
According to the US Commerce Department, orders for durable goods in the United States rose 5.6% in December, surpassing expectations. These orders include items such as aircrafts, cars, and large machinery with a lifespan of three years or more. This…
Initial jobless claims in the United States fell last week, according to a report from the Labor Department. The number of claims dropped 6,000 to a seasonally adjusted 186,000, surprising analysts who had expected an increase to 205,000. This is…
