Tech giant Apple Inc. has set its sights on expanding its retail presence in China and the United States, with plans to open new stores and revamp existing ones. The company aims to strengthen its brand and provide enhanced customer experiences in key markets. According to reliable sources, Apple is engaged in discussions to establish …
Apple Plans Expansion of Retail Stores in China and the United States Read More »
The US Commerce Department has reported a significant increase in construction spending during the month of April. According to the latest data, construction spending rose by 1.2% compared to the previous month. This robust growth surpassed analysts’ expectations, who had anticipated a more modest 0.2% increase. The April surge follows a 0.3% gain in March. …
US Construction Spending Surges 1.2% in April, Exceeding Expectations Read More »
The Institute for Supply Management (ISM) has reported that the US manufacturing sector contracted for the seventh consecutive month in May. The ISM Manufacturing Index fell to 46.9, down from April’s reading of 47.1, indicating a continued decline in the sector’s activity. The index remained below the critical 50 level, which separates expansion from contraction …
According to the latest report from S&P Global, the Purchasing Managers’ Index (PMI) for US manufacturing recorded a decline in May, indicating a contraction in the sector. The final PMI figure stood at 48.4, down from April’s reading of 50.2, and slightly below the preliminary estimate of 48.5. The drop below the 50 mark is …
US Manufacturing PMI Contracts in May, Reflecting Economic Challenges Read More »
According to the latest report from the Labor Department, initial jobless claims in the United States saw a slight increase of 2,000 to reach a seasonally adjusted total of 232,000 last week. However, the figure remained below analysts’ expectations, which had anticipated 235,000 claims. To gain a more accurate understanding of the labor market’s performance, …
US Unemployment Claims Fall Below Expectations, Indicating Labor Market Resilience Read More »
According to a report released by Automatic Data Processing Inc. (ADP), private sector employment in the United States witnessed a notable increase in May, surpassing analyst expectations. The report revealed that 278,000 jobs were added during the month, outperforming the anticipated figure of 180,000. This comes after a strong showing in April, when 291,000 jobs …
U.S. Private Payrolls Exceed Expectations in May, According to ADP Report Read More »
In a startling development for the U.S. banking sector, the Federal Deposit Insurance Corporation (FDIC) has reported a massive decline of $472 billion, equivalent to about 2.5%, in bank deposits during the first quarter of 2023. This drop marks the largest decrease recorded since the FDIC began monitoring such data in 1984 and can be …
U.S. Bank Deposits Plummet $472 Billion in Q1 Following SVB-SB Bankruptcy Read More »
In a significant development, the US House of Representatives has successfully passed a bill aimed at increasing the debt ceiling. With a decisive vote of 314 in favor and 117 against, the bill’s approval comes as a crucial measure to prevent a historic debt default by the US government. The legislation, known as The “Fiscal …
The Mortgage Bankers Association (MBA) recently released data indicating a notable decrease in the number of applicants for mortgage loans in response to the rebound in mortgage interest rates. The report revealed a 3.7% decline in overall mortgage loan applications during the previous week. Among the different types of mortgage applications, those seeking to refinance …
US Mortgage Applicants Decline as Loan Interest Rates Rebound Read More »
The US Bureau of Labor Statistics recently unveiled the findings of the Job Openings and Labor Turnover Survey (JOLTS), revealing a significant increase in job openings during the month of April. The gauge of labor market demand, representing job openings, witnessed a remarkable rise of 358,000 positions, reaching a total of 10.1 million. This surge …
Job Openings in the United States Surge in April, Indicating Labor Market Rebound Read More »