Business News Asia
According to the U.S. Commerce Department, personal spending by U.S. consumers rose 0.8% in October, in line with analysts’ expectations, after increasing 0.6% in September. In addition, personal income rose 0.4% in October, while savings fell to 2.3%, the lowest…
Automatic Data Processing Inc (ADP) announced that private sector employment increased by 127,000 in November, the lowest level since January and below expectations at 190,000 jobs, following an increase of 239,000 jobs in October. The service sector added 213,000 jobs…
The Department of Commerce has published its second estimate of gross domestic product (GDP) for the third quarter. According to this estimate, the economy grew by 2.9% in this quarter, exceeding the first estimate of 2.6% and analysts’ expectations of…
Huawei Technology and ZTE Corp. have been banned from selling electronics in the U.S. due to security concerns. This is a multi-year effort to restrict Chinese telecommunications companies’ access to U.S. communications networks. The US Federal Communications Commission (FCC) issued…
According to Adobe, online consumer spending reached $5.29 billion on Thanksgiving Day, the highest level in history. This spending is 2.9% higher than last year. According to Adobe, consumers spend an average of $2-3 billion per day online. Adobe also…
The U.S. Commerce Department reports that new home sales rose 7.5% in October to 632,000 units. Contrary to the forecast, which fell to the level of 570,000 units. Year-over-year, new home sales fell 5.8% in October. Meanwhile, the Commerce Department…
According to the U.S. Commerce Department, orders for durable goods such as aircraft, automobiles and large machinery with a life of three years or more rose 1.0% in October, following a 0.3% increase in September. Orders for durable goods were…
The Mortgage Bankers Association (MBA) reported that mortgage loan applicants rose 2.2% last week after mortgage rates fell. The number of people applying for refinance loans rose 2% last week, but is down 86% from a year ago. The number…
The Conference Board announced that its Leading Economic Index (LEI) fell 0.8% in October after declining 0.5% in September, the eighth consecutive month of decline. Analysts had expected the index to fall by only 0.4% in October. The Conference Board…
The U.S. Department of Commerce reported that new residential construction in October fell 4.2% from the previous month to 1.425 million units. The figures for housing starts were impacted by an increase in the price of building materials and the…
