Business News Asia
Automatic Data Processing, Inc (ADP) announced that U.S. private sector jobs increased by 239,000 in October, up from 192,000 jobs in September. The service sector added 247,000 jobs in October. By contrast, the manufacturing sector recorded a decline of 8,000…
According to the U.S. Department of Commerce, construction spending rose 0.2% in September from the previous month after falling 0.6% in August. Year-on-year, construction spending increased by 10.9% in September. Private sector spending on construction projects rose 0.4% after falling…
The U.S. Department of Labor’s Bureau of Labor Statistics released its Job Openings and Labor Turnover Survey (JOLTS), which showed that the number of job openings, a measure of labor market demand, increased by 437,000 in September to 10.7 million.…
The final manufacturing purchasing managers’ index (PMI) fell to 50.4 in October from 52.0 in September, according to S&P Global. The PMI was hit by a slump in new orders, reaching its lowest level since May 2020, while employment slowed.…
An annual survey by the American Chamber of Commerce in Shanghai and PWC China found that U.S. business sentiment in China has fallen to a record low. This is due to competitive, economic and regulatory challenges, as well as tensions…
Initial jobless claims rose 3,000 last week to 217,000, the Labor Department said. The number of people claiming jobless benefits was below analysts’ estimates of 223,000. Meanwhile, the U.S. Department of Labor reported that the number of Americans continuing to…
According to the U.S. Commerce Department, orders for U.S. durable goods such as aircraft, automobiles and heavy machinery that last three years or longer rose 0.4% in September. Orders for durable goods were boosted in September by orders for motor…
According to the U.S. Mortgage Bankers Association (MBA), the average mortgage rate in the U.S. has risen above 7% for the first time since 2001. The average interest rate on 30-year fixed-rate mortgages rose to 7.16% last week from 6.94%…
The U.S. Commerce Department reports that new home sales fell 10.9% to 603,000 units in September from 677,000 units in August. Year-on-year, new home sales were down 17.6% in September. New home sales were hurt by high home prices and…
The chief executive of JPMorgan Chase Jamie Dimon said today (Oct. 25) that current global political problems are more worrisome than the possibility of a recession in the United States. The statement, issued at a meeting in Riyadh, said the…
