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UK Services, Manufacturing, Construction PMI’s Show Economy Struggling, BOE Holds Rates Steady
The Bank of England, as widely expected, kept its benchmark interest rate at 0.50%, a record low and maintained its quantitative easing program at £200 billion. In April, the BOE hawks had no refuge in the data as all three "purchasing managers indexes" or PMI undershot expectations, creating a sense that the UK economy remains… »
Pink Slips On The Wane – US-FOREX.US
The U.S. economy is doling out fewer and fewer pink slips, as the labor market appears to be on the path of stabilization. Even so, Wall Street and Main Street are still worried that the jobless rate will stagnate and handcuff the recovery.The ADP Employer Services report found the U.S. private sector slashed 371,000 positions… »
Initial Claims Worse Than You Think – US-FOREX.US
Initial jobless claims in the United States fell to their lowest level since January, but don’t get excited. Seasonal distortions related to the auto industry skewed the reading, making things look better than they actually are.On Thursday the Labor Department reported first-time claims for unemployment benefits last week fell by 52,000 to 565,000, well below… »