WASHINGTON — The number of Americans filing new claims for unemployment benefits dropped for a third straight week last week, the latest indication the labor market recovery was gaining traction.
Other data on Thursday showed a spike in the cost of gasoline pushed up producer prices last month, but the lack of broad price pressures gives the Federal Reserve scope to maintain its very accommodative monetary policy stance even as the job market strengthens.
US retail sales rose broadly in October, suggesting the economy started the fourth quarter with some vigor, and the first drop in wholesale prices in four months pointed to subsiding inflation pressures.
Is the worst over for the Eurozone? That's what the ECB and heads of state said at the recent economic summit in Davos.
I offer some economic reality.
Eurozone Sales Collapse 15th Month and Wholesale Prices Soar
The Markit Eurozone Retail PMI® shows Eurozone retail sales downturn extends to fifteenth month in January
OTTAWA — Canadian retail sales unexpectedly plunged 2.1% in December amid slumping new-car sales and a weak Christmas shopping season, Statistics Canada data said on Friday.
The drop, far larger than the 0.3% decline predicted by economists, suggested that already moderated expectations for fourth-quarter growth might be too optimistic. The monthly fall was the greatest since a 2.4% decline in April 2010.
The Canadian dollar softened to its weakest level in seven months against the U.S. dollar after inflation and retail sales data came in below forecast.
MONTREAL — Gildan Activewear Inc. has a television commercial running at the moment that shows a young man sitting at the front of a roller coaster as it climbs up for its first drop.
Clearly apprehensive about what’s to come, the mop-haired lad takes off his pants and holds up his prized, white-coloured briefs as he steels himself for the harrowing descent. The advertisment’s kicker: “It’s about time you had a favourite pair of underwear.”