US

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US Job Openings Dip in October, Marking a Decline Since March 2021

News

The US Department of Labor’s Bureau of Statistics unveiled the results from the Job Opening and Labor Turnover Survey (JOLTS), indicating a notable decrease in labor market demand. The survey revealed a reduction of 617,000 job openings, totaling 8.733 million in October. This figure represents the lowest level recorded since March 2021 and stands below …

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US Services PMI Edges Upward in November, Holding Steady at 50.8

News

According to S&P Global, the Final Services Purchasing Managers’ Index (PMI) for the United States nudged up to 50.8 in November from October’s 50.6, aligning precisely with the initial projection. Despite this increment, the PMI hovers close to the critical 50-mark threshold, where a drop below would signify contraction within the US services sector. Economists …

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U.S. Factory Orders Dip by 3.6% in October, Transport Sector Decline Cited

News

The latest report from the US Department of Commerce unveiled a 3.6% decline in factory orders for October, marking a notable contrast to the 2.3% rise seen in September. Analysts’ predictions for a downturn were nearly mirrored in the actual figures, with a forecast of a 3.5% decrease in October’s factory orders. The deviation of …

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US Manufacturing Sector Records 13th Consecutive Month of Contraction, ISM Index at 46.7 in November

News

The Institute for Supply Management (ISM) released data indicating that the US manufacturing index remained at a stagnant 46.7 in November, falling short of analysts’ forecasts set at 47.6. Persisting below the crucial threshold of 50, the index signifies ongoing contraction within the US manufacturing sector. November marks the 13th successive month wherein the index …

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US October Construction Spending Surpasses Forecasts, Private Sector Projects Propel Growth

News

The US Department of Commerce reported a notable surge in construction spending for October, surpassing analysts’ projections and signaling a robust upward trend in the sector. Construction spending experienced a 0.6% month-on-month increase, surpassing initial estimates of 0.4%. This growth followed a 0.2% rise in September, reflecting a strong momentum in the industry. On an …

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US Administration Urges Saudi Firm to Withdraw Investment from OpenAI CEO’s AI Startup

News

Under the leadership of President Joe Biden, the US administration has intensified pressure on Prosperity Seven, a venture capital entity associated with Saudi Aramco, to divest its holdings in Rain Neuromorphics, an AI chip startup based in Silicon Valley. The company is co-founded by Mr. Sam Altman, known for his role at OpenAI, the developer …

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US October PCE Index Hits 3.0%, Meeting Analysts’ Forecasts

News

The US Department of Commerce has released data indicating that the General Personal Consumption Expenditures (PCE) price index, encompassing food and energy categories, saw a year-on-year increase of 3.0% in October. This figure aligns with analysts’ expectations and signifies a marginal deceleration from September’s 3.4%. In a monthly comparison, the general PCE index remained stable …

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U.S. Reports Increase in Jobless Claims, Surpassing 2-Year High for Continued Claims

News

The U.S. Department of Labor has disclosed a rise in initial jobless claims, marking a climb of 7,000 to reach 218,000 last week. Although this figure surpassed analysts’ estimates, which had anticipated a slightly higher count at 220,000. While the weekly figures fluctuate, the four-week moving average, a more stable indicator in assessing the labor …

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