http://us.mobile.reuters.com/category/economicNews Reuters Mobile is your source for breaking news, business, financial and investing news, including market data giving you access to the information you need - any time, anywhere. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. Copyright 2008 Reuters en-us Thu, 23 May 2013 12:05:18 -0400 5 /resources/images/mobile/small/logo.png 120 35 http://us.mobile.reuters.com/category/economicNews http://us.mobile.reuters.com/article/economicNews/idUSL3N0E42WE20130523?feedType=RSS&feedName=economicNews May 22 (Reuters) - Discount retailer Dollar Tree Inc reported a stronger-than-expected quarterly profit and raised its full-year earnings forecast as it more than holds its own against intensifying competition from Wal-Mart and Target, sending its shares up about 5 percent in morning trading. Thu, 23 May 2013 11:57:43 -0400 http://us.mobile.reuters.com/article/economicNews/idUSL3N0E42WE20130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUSL2N0E40ID20130523?feedType=RSS&feedName=economicNews * Weekly jobless claims fall 23,000 * Four-week average of claims slip 500 * May factory activity growth at seven-month low * New home sales rise in April, median price at record high By Lucia Mutikani WASHINGTON, May 23 (Reuters) - The number of Americans filing new claims for unemployment benefits fell more than expected last week, pointing to resilience in the labor market despite belt-tightening by Washington. The improving job market tone is helping to prop up housing, with rising home prices keeping domestic consumption supported. But tighter fiscal policy as the government tries to slash its bloated budget deficit is dampening factory activity. Initial claims for state unemployment benefits dropped 23,000 to a seasonally adjusted 340,000 last week, the Labor Department said on Thursday. Economist had expected claims to fall to 345,000. The drop unwound most of the prior week's jump and suggested employers were not laying off workers in response to fiscal austerity, especially the $85 billion in across-the-board government spending cuts. "The evidence from jobless claims suggests that layoffs have slowed, which hints at faster net job creation," said John Ryding, chief economist at RDQ Economics in New York. The labor market is being closely watched by the Federal Reserve as debate heats up over the future of its expansive monetary stimulus. Fed Chairman Ben Bernanke told lawmakers that a decision to scale back the $85 billion in bonds the U.S. central bank is buying each month could come at one of its "next few meetings" if the economy appeared set to maintain momentum. Economists believe that decision could come as early as the September meeting. A separate report from the Commerce Department showed new single family home sales rose 2.3 percent last month to a 454,000-unit pace. The median sales price for a new home jumped 14.9 percent from a year ago to a record $271,600. "We have seen some momentum in the housing market. The improving sales are a very broad and powerful positive effect for the U.S. economy," said Robert Dye, chief economist at Comerica in Dallas. MANUFACTURING STRUGGLING Data on Wednesday showed home resales increased in April to their highest level in nearly 3-1/2 years, with the median price for a previously owned house the highest since August 2008. Relative strength in the housing market is helping to mitigate some of the drag from higher taxes and deep government spending cuts, which has been evident in manufacturing data. In a separate report, financial data firm Markit said its preliminary Manufacturing Purchasing Managers Index fell to a seven-month low of 51.9 in May from 52.1 in April. A reading above 50 indicates expansion. "Slower growth could be linked to a combination of fiscal drag hurting demand at home while at the same time many export markets remain in fragile states," said Chris Williamson, chief economist at Markit. That, he added, suggested manufacturing's boost to U.S. growth in the second quarter would be modest at best. U.S. financial markets were little moved by the reports as investors continued to digest Bernanke's comments on Wednesday and weak factory data from China. Stocks on Wall Street fell, with the Standard & Poor's 500 index on pace for its first back-to-back daily drop in a month. U.S. Treasury debt prices rose, while the dollar fell against a basket of currencies. Last week's claims data covered the survey period for the government's report on nonfarm payrolls for May. Claims dropped 15,000 between the April and May survey periods, suggesting steady gains in employment this month. Employers added 165,000 jobs to their payrolls in April. The four-week moving average for new claims, which irons out week-to-week volatility, slipped 500 to 339,500. The claims report showed the number of people still receiving benefits under regular state programs after an initial week of aid fell 112,000 to 2.91 million in the week ended May 11. That was the first time in five years so-called continuing claims were below the 3 million mark. Thu, 23 May 2013 11:28:07 -0400 http://us.mobile.reuters.com/article/economicNews/idUSL2N0E40ID20130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUSL2N0E40QE20130523?feedType=RSS&feedName=economicNews DETROIT, May 23 (Reuters) - U.S. auto sales in May are expected to rise about 8 percent and the annual sales pace should rebound back above 15 million vehicles after a disappointing result in the prior month, two research reports said on Thursday. Thu, 23 May 2013 10:37:09 -0400 http://us.mobile.reuters.com/article/economicNews/idUSL2N0E40QE20130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUSL2N0E40SG20130523?feedType=RSS&feedName=economicNews WASHINGTON, May 23 (Reuters) - Sales of new U.S. single-family homes rose 2.3 percent in April, and prices climbed to record high levels, offering strong proof the sector's rebound trend is intact. Thu, 23 May 2013 10:07:53 -0400 http://us.mobile.reuters.com/article/economicNews/idUSL2N0E40SG20130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUSCLANGE93S20130523?feedType=RSS&feedName=economicNews May 23 (Reuters) - U.S. Commerce Department reported sales of new single-family homes, seasonally adjusted, with percent changes from prior month (numbers in 1,000s). Thu, 23 May 2013 10:00:04 -0400 http://us.mobile.reuters.com/article/economicNews/idUSCLANGE93S20130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUSL3N0E42EK20130523?feedType=RSS&feedName=economicNews LONDON/NEW YORK, May 23 (Reuters) - Chinese factory activity declined in May for the first time in seven months and U.S. manufacturing grew at its slowest clip since October, suggesting it may take a while before the global economy starts to pick up steam. Thu, 23 May 2013 09:47:30 -0400 http://us.mobile.reuters.com/article/economicNews/idUSL3N0E42EK20130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUSL3N0E437H20130523?feedType=RSS&feedName=economicNews * Above central bank 4 percent limit for third month in a row Thu, 23 May 2013 09:39:09 -0400 http://us.mobile.reuters.com/article/economicNews/idUSL3N0E437H20130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUSL2N0E40N620130523?feedType=RSS&feedName=economicNews BRASILIA, May 23 (Reuters) - Brazil will eliminate a payroll tax on bus fares, Finance Minister Guido Mantega said on Thursday, in another measure to curb consumer price increases as inflation hovers near the ceiling of the government's target. Thu, 23 May 2013 09:36:16 -0400 http://us.mobile.reuters.com/article/economicNews/idUSL2N0E40N620130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUSL2N0E32AK20130523?feedType=RSS&feedName=economicNews * Gov't hopes tax clarification will boost foreign interest Thu, 23 May 2013 09:21:37 -0400 http://us.mobile.reuters.com/article/economicNews/idUSL2N0E32AK20130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUSN9N0DP00H20130523?feedType=RSS&feedName=economicNews NEW YORK, May 23 (Reuters) - U.S. manufacturing slowed for a second straight month in May as weak overseas demand and government belt-tightening at home led to the sector's most sluggish rate of growth since October, a survey showed on Thursday. Thu, 23 May 2013 08:57:58 -0400 http://us.mobile.reuters.com/article/economicNews/idUSN9N0DP00H20130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUSL2N0E40GP20130523?feedType=RSS&feedName=economicNews SAO PAULO, May 23 (Reuters) - Brazil's jobless rate rose slightly in April for the fourth straight month but remained near record lows, suggesting that tight labor conditions bolstered a gradual recovery and fed into inflation, statistics agency IBGE said on Thursday. Thu, 23 May 2013 08:35:35 -0400 http://us.mobile.reuters.com/article/economicNews/idUSL2N0E40GP20130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUSLNSNGE94D20130523?feedType=RSS&feedName=economicNews WASHINGTON, May 23 (Reuters) - The number of Americans filing new claims for unemployment benefits fell more than expected last week, pointing to resilience in the labor market despite belt-tightening by Washington. Thu, 23 May 2013 08:30:03 -0400 http://us.mobile.reuters.com/article/economicNews/idUSLNSNGE94D20130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUSLLANGE96S20130523?feedType=RSS&feedName=economicNews May 23 (Reuters) - U.S. Labor Department report of initial state jobless benefit claims, seasonally adjusted. Thu, 23 May 2013 08:30:01 -0400 http://us.mobile.reuters.com/article/economicNews/idUSLLANGE96S20130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUSE5N0C502X20130523?feedType=RSS&feedName=economicNews SAO PAULO, May 23 (Reuters) - Brazil's jobless rate rose unexpectedly in April to 5.8 percent from 5.7 percent in March, government statistics agency IBGE said on Thursday. Thu, 23 May 2013 08:05:30 -0400 http://us.mobile.reuters.com/article/economicNews/idUSE5N0C502X20130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUSL3N0E42V420130523?feedType=RSS&feedName=economicNews May 22 (Reuters) - Discount retailer Dollar Tree Inc reported a 15 percent rise in first-quarter profit as margins expanded. Thu, 23 May 2013 07:52:35 -0400 http://us.mobile.reuters.com/article/economicNews/idUSL3N0E42V420130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUSL3N0E41JM20130523?feedType=RSS&feedName=economicNews TOKYO, May 23 (Reuters) - Japanese Economics Minister Akira Amari said there was no need to be upset about Thursday's sharp falls in Tokyo stock prices, which were due to selling by market players who had been looking for a timing to take profits. Thu, 23 May 2013 04:27:42 -0400 http://us.mobile.reuters.com/article/economicNews/idUSL3N0E41JM20130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUSL6N0E415B20130523?feedType=RSS&feedName=economicNews ====================================================== For euro zone economic data, please double-click on: for indicators released this month or for indicators released next month For other related diaries, please double-click on: - Major central bank events for 2013 - Top economic events worldwide, - Index of all Reuters diaries. - Highlights of today's top events of interest to money markets. ========================================================== GMT GMT/LOCAL INDICATOR PERIOD MEDIAN PRIOR DATE F'CAST 24May 1100/0800 DE GDP detailed qq Q1 % 0.1% 24May 1100/0800 DE GDP detl y Q1 % -1.4% 24May 1100/0800 DE GfK Consumer Sentiment Jun 6.2 6.2 24May 1300/1000 DE Ifo Business Climate May 104.5 104.4 24May 1300/1000 DE Ifo Current Conditions May 107.2 107.2 24May 1300/1000 DE Ifo Expectations May 101.6 101.6 28-31 1100/0800 DE Import Prices mm Apr -0.5% -0.1% 28-31 1100/0800 DE Import Prices yy Apr -2.3% -2.3% 28-31 1100/0800 DE Retail Sales-real mm Apr % -0.5% 28-31 1100/0800 DE Retail Sales-real yy Apr % -2.8% 29May 1255/0955 DE Unemployment change sa May k 4k 29May 1255/0955 DE Unemployment total nsa May m 3.0m 29May 1255/0955 DE Unemployment Rate sa May % 6.9% 29May 1255/0955 DE Unemployment total sa May m 2.938m 29May 1700/1400 DE HICP prelim yy May % 1.1% 29May 1700/1400 DE HICP prelim mm May % -0.5% 29May 1700/1400 DE CPI prelim mm May % -0.5% 29May 1700/1400 DE CPI prelim yy May % 1.2% 03Jun 1253/0953 DE Markit/BME Mfg PMI May 49.0 05Jun 1253/0953 DE Markit Serv PMI May 49.8 06Jun 1500/1200 DE Industrial Orders mm Apr % 2.2% 07Jun 1100/0800 DE Exports mm sa Apr % 0.5% 07Jun 1100/0800 DE Imports mm sa Apr % 0.8% 07Jun 1100/0800 DE Trade Bal sa, EUR Apr b 17.6b 07Jun 1500/1200 DE Industrial Output mm Apr % 1.2% 12Jun 1100/0800 DE CPI final mm May % % 12Jun 1100/0800 DE CPI final yy May % % 12Jun 1100/0800 DE HICP final mm May % % 12Jun 1100/0800 DE HICP final yy May % % 12-17 1100/0800 DE Wholesale Price Indx mm May % -0.2% 12-17 1100/0800 DE Wholesale Price Indx yy May % -0.4% 18Jun 1400/1100 DE ZEW Economic Sentiment Jun 36.4 18Jun 1400/1100 DE ZEW Current Conditions Jun 8.9 20Jun 1100/0800 DE PPI mm May % -0.2% 20Jun 1100/0800 DE PPI yy May % 0.1% 20Jun 1228/0928 DE Markit Mfg flash PMI Jun 20Jun 1228/0928 DE Markit Serv flash PMI Jun 20Jun 1228/0928 DE Markit Comp flash PMI Jun 49.9 Thu, 23 May 2013 03:57:09 -0400 http://us.mobile.reuters.com/article/economicNews/idUSL6N0E415B20130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUSL3N0E40OA20130523?feedType=RSS&feedName=economicNews BEIJING, May 23 (Reuters) - China's factory activity shrank for the first time in seven months in May as new orders fell, a preliminary manufacturing survey showed, entrenching fears that its economic recovery has stalled and that a sharper cooldown may be imminent. Thu, 23 May 2013 03:15:47 -0400 http://us.mobile.reuters.com/article/economicNews/idUSL3N0E40OA20130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUSL3N0E30K820130523?feedType=RSS&feedName=economicNews * Yen down 20 percent vs dollar over past year, won up by a third against yen Thu, 23 May 2013 00:41:36 -0400 http://us.mobile.reuters.com/article/economicNews/idUSL3N0E30K820130523?feedType=RSS&feedName=economicNews http://us.mobile.reuters.com/article/economicNews/idUST9E8J908720130523?feedType=RSS&feedName=economicNews TOKYO, May 23 (Reuters) - The Bank of Japan said on Thursday that the bond market operation it conducted the same day was in line with Governor Haruhiko Kuroda's stance to conduct flexible market operations in the wake of bond market volatility. Wed, 22 May 2013 23:53:14 -0400 http://us.mobile.reuters.com/article/economicNews/idUST9E8J908720130523?feedType=RSS&feedName=economicNews