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Flash Consumer Confidence Indicator for the EU and Euro Area
In June 2023, DG ECFIN’s flash estimate1 of the consumer confidence indicator2 improved in the EU (1.1 percentage points (pps.) up) and the euro area (1.3 pps. up). At -17.2 (EU) and ‑16.1 (euro area) pps., consumer confidence remains well below its longterm average. This month's Flash CCI for the EU aggregate is computed on the basis of consumer survey data from 25 EU countries (all except Ireland and Romania), covering 97% (EU) and 98% (euro area) of total private final consumption expenditure. 2 The consumer confidence indicator builds on replies to selected questions addressed to consumers according to the ... (full story)
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Existing-home sales marginally increased in May, according to the National Association of REALTORS®. Sales were mixed among the four major U.S. regions, with the South and West ...
The Conference Board Leading Economic Index® (LEI) for the U.S. declined by 0.7 percent in May 2023 to 106.7 (2016=100), following a decline of 0.6 percent in April. The LEI is ...
Thank you, President Mester. It is really a pleasure to be here in Cleveland to join you for this Fed Listens event. I'm especially pleased to be a part of today's discussions about how the economy continues to evolve in the post-pandemic environment.1 I find that I learn the most valuable information about economic conditions from those who are actually on the ground and working directly in the economy, so I am really looking forward to hearing from today's panelists to learn from their experiences and perspectives. As those of you here today know, the Federal Open Market Committee (FOMC) met last week to discuss the economy and expectations for economic activity. I'll begin the discussion with my views on the evolution of the U.S. economy since the onset of the pandemic and on the implications of those developments for the FOMC's congressionally mandated goals of maximum employment and stable prices. After the initial phases of the pandemic and the lockdowns and forced closures of most businesses, we saw strengthening economic activity accompanied by unacceptably high and persistent inflation. Over the past several years, as economic activity has continued to normalize, one consistent strength has been the resilience of the labor market. Jobs have grown at a solid pace, wages have increased for many workers, and we've seen continued low unemployment. On the other side of our mandate, price stability, the U.S. economy experienced the most significant inflation in 40 years, reaching a peak of over 9 percent last year. The FOMC has made progress in lowering inflation, but de post at 9:57am: FED'S BOWMAN: FURTHER POLICY RATE INCREASES WILL BE REQUIRED TO ACHIEVE SUFFICIENTLY RESTRICTIVE LEVEL AND CONTROL INFLATION. post at 9:58am: Fed's Bowman: - We will look for inflation on a consistent downward path in deciding appropriate policy steps at coming meetings -A level of inflation is still unacceptably high - I want to see signs inflation is on a consistent downward path.
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Federal Reserve Chairman Jerome Powell is testifying Thursday before the Senate Committee on Banking, Housing, and Urban Affairs. The hearing, set to focus on the central bank's ...
post at 10:13am: *POWELL'S PREPARED REMARKS IDENTICAL TO WEDNESDAY'S TESTIMONY post at 10:20am: Fed’s Powell: FOMC Broadly Feels It Will Be Appropriate to Raise Rates Again This Year and Perhaps Two More Times post at 10:22am: FED CHAIR POWELL: A STRONG MAJORITY OF COMMITTEE FEELS THERE IS A LITTLE FUTHER TO GO WITH RATE HIKES post at 10:23am: FED CHAIR POWELL: IT WOULD BE PERFECT, BUT NO GUARANTEE, THAT LABOR MARKET CAN GET INTO BETTER BALANCE WITHOUT UNEMPLOYMENT RISING post at 10:35am: FED'S POWELL: WE HAVE NOT SEEN MUCH PROGRESS IN SERVICES INFLATION.
Prior was 84B. US natural gas prices have come off the bottom in part due to higher power burn and exports to Mexico. However if there is any kind of larger rally coming, producers will need to show some discipline. At $2.60, the industry isn't making much money. This latest number won't help. post at 10:30am: US EIA Natural Gas Storage Change (BCF) 16-Jun: 95 (exp 90; prev 84) - Salt Dome Cavern Nat Gas Change (BCF): +6 (prev +5)Natural Gas price starts falling after Gas storage data beats estimates Natural Gas price starts declining on Thursday after Natural Gas Storage Change data from the Energy Information Administration (EIA) shows a suprise rise in inventories, indicating robust supply. Gas prices have been recovering due to a mixture of a weaker US Dollar and hotter-than-expected summer weather in the Western world. Temperatures in Texas, for example, are breaking records and the trend is set to continue for 7-10 days, according to forecasters. If the summer is hotter overall, it will quickly put pressure on Natural Gas supplies used in air conditioning, according to a report by Natural Gas World. XNG/USD is trading at $2.637 MMBtu, at the time of writing, entering the US session on Thursday. Natural Gas starts a leg lower on intraday charts after Natural Gas Storage data showed an unexpected rise in inventories. The commodity had been recovering amid a weaker US Dollar and heatwave demand. Norwegian outages continue to ravage the supply outlook and further underpin already low prices. If temperatures across the Western world continue to remain elevated, Natural Gas could see further gains, according to analysts.
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- Posted: Jun 22, 2023 10:04am
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