NEWS: CNBC ECONOMY
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   NEWS: CNBC ECONOMY
CNBC Economy
Sep 29, 2023

The Fed's favorite inflation indicator rose less than expected in August
The personal consumption expenditures (PCE) price index excluding food and energy increased 0.1% for the month, lower than the expected 0.2% gain.

CNBC Economy
Sep 27, 2023

U.S. Latino economic output grows to $3.2 trillion, according to new study
If Latinos were an independent country their GDP would rank fifth in the world, the study found.

CNBC Economy
Sep 27, 2023

The U.S. is weaker now than when we downgraded in 2011, former S&P ratings chairman says
The U.S. is in a weaker position now than when S&P downgraded its sovereign credit rating in 2011, according to the former chairman of the agency's Sovereign Rating Committee.

CNBC Economy
Sep 26, 2023

Dimon warns that the Fed could still raise interest rates sharply from here
"I am not sure if the world is prepared for 7%," he told The Times of India in an interview.

CNBC Economy
Sep 26, 2023

'We have dealt with recessions before': Jamie Dimon says geopolitics is the world's biggest risk
JPMorgan Chase & Co. CEO Jamie Dimon says geopolitics in light of Russia's invasion in Ukraine is the biggest risk is a much larger risk than high inflation or a U.S. recession.

CNBC Economy
Sep 25, 2023

Some soft commodity prices are surging, adding to consumer woes
Certain agricultural commodities have climbed in recent months, driven by weather-related damage around the globe and tighter supplies.

CNBC Economy
Sep 25, 2023

China-EU relationship is at a crossroads, top official says in Beijing
China's relationship with the European Union needs to change, as the bloc's trade chief asks for more openness and fairness from Beijing.

CNBC Economy
Sep 22, 2023

Credit card losses are rising at the fastest pace since the Great Financial Crisis
Goldman Sachs predicts credit card losses will continue to climb through the end of 2024 or early 2025 for most issuers.

CNBC Economy
Sep 20, 2023

The Fed would be 'flying blind' on interest rate decisions after a government shutdown
A looming government shutdown could prevent the Federal Reserve from raising rates in November, Bank of America says.

CNBC Economy
Sep 18, 2023

Striking unions impacting the economy at a level not seen in decades
So far, the UAW stoppage has impacted just a small portion of the workforce with limited implications for the broader economy.

CNBC Economy
Sep 14, 2023

August wholesale inflation rises 0.7%, hotter than expected, but core prices in check
The producer price index was expected to increase 0.4% in August, according to the Dow Jones consensus estimate.

CNBC Economy
Sep 14, 2023

Shipping giant Maersk unveils world's first vessel using green methanol
The new container ship has two engines: one moved by traditional fuels and another run with green methanol.

CNBC Economy
Sep 14, 2023

August wholesale inflation rises 0.7%, hotter than expected
The producer price index was expected to increase 0.4% in August, according to the Dow Jones consensus estimate.

CNBC Economy
Sep 14, 2023

Shipping giant Maersk unveils 'trendsetter' green vessel as it aims to be carbon neutral by 2040
Shipping giant Maersk on Thursday presented its first container vessel moved with green methanol.

CNBC Economy
Sep 13, 2023

August core inflation, excluding food and energy, rose 0.3%, hotter than expected
The consumer price index was expected to increase 0.6% in August and 3.6% from a year ago, according to the Dow Jones consensus estimate.

CNBC Economy
Sep 11, 2023

Fears over access to credit hit highest level in more than a decade, New York Fed survey shows
Respondents indicating that the ability to get credit is harder now than it was a year ago rose to nearly 60%.

CNBC Economy
Sep 08, 2023

Taylor Swift is single-handedly giving a boost to hotel industry revenue
An analysis found hotels in states Swift visited did notably better than the national average.

CNBC Economy
Sep 08, 2023

Taylor Swift is single handedly giving a boost to hotel industry revenue
An analysis found hotels in states Swift visited did notably better than the national average.

CNBC Economy
Sep 04, 2023

'Very stupid': Italy's bank tax remains controversial as government scrambles to update it
Italy's shock tax on banks continues to prove controversial, even as the government insists it can "improve" it.

CNBC Economy
Sep 01, 2023

Black unemployment rate declines in August, even as it rose across the board
The jobless rate ran higher overall but slid for Black workers.

CNBC Economy
Sep 01, 2023

Here's where the jobs are for August 2023 — in one chart
Health care and social assistance was again the top area for job growth in August.

CNBC Economy
Sep 01, 2023

Unemployment rate unexpectedly rose to 3.8% in August as payrolls increased by 187,000
Nonfarm payrolls were expected to increase 170,000 in August, according to a Dow Jones consensus estimate.

CNBC Economy
Aug 31, 2023

Taylor Swift, Beyoncé and 'Barbenheimer' are lifting consumer spending this quarter. But Morgan Stanley says it may not last
Morgan Stanley sees a potential unwinding from these events, as well as the resumption of student loan payments, in the fourth quarter.

CNBC Economy
Aug 30, 2023

U.S. job growth slowed sharply to 177,000 in August, below expectations, ADP says
Economists surveyed by Dow Jones were expecting 200,000 jobs added in August.

CNBC Economy
Aug 21, 2023

American workers are demanding almost $80,000 a year to take a new job
The average "reservation wage," or the minimum acceptable salary offer to switch jobs, rose to $78,645 during the second quarter of 2023.

CNBC Economy
Aug 17, 2023

China's economic model is 'washed up on the beach,' says veteran investor David Roche
China's economic model is "washed up on the beach" and "not going to take off again," which will have a big impact on global markets, says veteran investor David Roche.

CNBC Economy
Aug 15, 2023

Retail sales increased 0.7% in July, better than expected as consumer spending is holding up
The advanced retail sales report showed a seasonally adjusted increase of 0.7% for the month, better than the 0.4% Dow Jones estimate

CNBC Economy
Aug 14, 2023

Russian ruble slumps to near 17-month low, briefly moves past 100 against dollar
Friday figures showed Russia's GDP expanded by a yearly 4.9% in the second quarter.

CNBC Economy
Aug 14, 2023

Russian ruble slumps to near 17-month low, moves past 100 against the dollar
Friday figures showed Russia's GDP expanded by a yearly 4.9% in the second quarter.

CNBC Economy
Aug 11, 2023

Wholesale prices rose 0.3% in July, higher than expected
The producer price index rose 0.3% for the month, slightly higher than expectations.

CNBC Economy
Aug 10, 2023

July CPI report shows inflation gauge rose 3.2%, less than expected
The consumer price index in July was expected to rise 0.2% from the prior month and 3.3% from a year ago, according to Dow Jones.

CNBC Economy
Aug 10, 2023

Inflation gauge rose 3.2% annually in July, less than expected
The consumer price index in July was expected to rise 0.2% from the prior month and 3.3% from a year ago, according to Dow Jones.

CNBC Economy
Aug 10, 2023

Interest rates should stay around 5% for longer — even as inflation falls, top economist Jim O'Neill says
Veteran economist Jim O'Neill says central banks will need to keep interest rates up around 5% across major economies for longer than the market expects, even as inflation subsides.

CNBC Economy
Aug 09, 2023

Thursday's inflation data may be low, but don't expect the Fed to declare 'mission accomplished' yet
History has shown that inflation is stubborn and can last longer than expected.

CNBC Economy
Aug 08, 2023

Credit card balances jumped in the second quarter and are above $1 trillion for the first time
Credit card debt 30 or more days late rose to 7.2% in the second quarter, up from 6.5% in Q1 and the highest rate since the first quarter of 2012.

CNBC Economy
Aug 04, 2023

JPMorgan backs off recession call even with 'very elevated' risks
Economists at the country's largest bank bailed on their recession call, joining a growing chorus that now thinks a contraction is no longer inevitable.

CNBC Economy
Aug 04, 2023

July jobs report: U.S. payroll growth totaled 187,000, lower than expected
Nonfarm payrolls were expected to increase by 200,000 in July, according to the Dow Jones consensus estimate.

CNBC Economy
Aug 04, 2023

The story of inflation, as told through your child's backpack
Americans are expected to spend a record amount of school supplies this year. They're feeling sticker shock as inflation continues to push up prices.

CNBC Economy
Aug 04, 2023

Black unemployment rate ticks lower in July as jobs market remains tight
The jobless rate for Black workers fell to 5.8% in July, Labor Department data showed Friday.

CNBC Economy
Aug 04, 2023

Here's where the jobs are for July 2023 — in one chart
The health care and social assistance category grew by 87,100 jobs last month, continuing a hot streak.

CNBC Economy
Aug 04, 2023

The U.S. economy added 187,000 jobs in July, fewer than expected
Nonfarm payrolls were expected to increase by 200,000 in July, according to the Dow Jones consensus estimate.

CNBC Economy
Aug 03, 2023

Here's everything you need to look for in Friday's July jobs report
Wall Street expects that nonfarm payrolls increased by 200,000 in July, the smallest gain since December 2020

CNBC Economy
Aug 03, 2023

The Fitch U.S. ratings cut is here to stay, says analyst who worked on the S&P downgrade in 2011
"It does not take a grand sovereign and analytics genius to understand that the fiscal profile of the U.S. is much worse than it has been," said Elliot Hentov.

CNBC Economy
Aug 02, 2023

The Fitch analyst behind the U.S. downgrade breaks down the decision—and how the country can regain the top rating
Fitch Ratings' Richard Francis told CNBC that the rating agency would need to see a long-term fiscal solution and a reduction of its debt.

CNBC Economy
Aug 02, 2023

Private sector added 324,000 jobs in July, well above expectations, ADP says
That total was well above the Dow Jones consensus estimate for 175,000, though it marked a decrease from the downwardly revised 455,000 in June.

CNBC Economy
Aug 02, 2023

U.S. debt downgrade sinks global markets — but economists are not concerned
Global stock markets tumbled on Wednesday after ratings agency Fitch downgraded the United States' long-term credit rating, but top economists say there is nothing to worry about.

CNBC Economy
Aug 01, 2023

Job openings, layoffs declined in June in a positive sign for the labor market
Employment openings totaled 9.58 million for the month, edging lower from the downwardly revised 9.62 million in May.

CNBC Economy
Jul 31, 2023

Saudi Arabia's economic growth slows as oil cuts, price drops bite into revenues
The International Monetary Fund had dubbed Riyadh the fastest growing economy in the Group of 20 in 2022.

CNBC Economy
Jul 28, 2023

Key Fed inflation rate falls to lowest annual level in nearly 2 years
Inflation showed further signs of cooling in June, according to a gauge released Friday that the Federal Reserve follows closely.

CNBC Economy
Jul 28, 2023

Key Fed inflation rate falls to lowest annual rate in nearly 2 years
Inflation showed further signs of cooling in June, according to a gauge released Friday that the Federal Reserve follows closely.

CNBC Economy
Jul 28, 2023

The Bank of Japan just shocked markets with a policy tweak — here's why it matters
The Bank of Japan loosened its yield curve control in an unexpected move with ramifications across global financial markets.

CNBC Economy
Jul 27, 2023

Turkey's central bank says inflation is set to hit 58% — more than double its previous estimate
Turkey's central bank expects inflation to hit 58% by the end of 2023, its new governor Hafize Gaye Erkan said in her debut news conference Thursday.

CNBC Economy
Jul 27, 2023

European Central Bank raises rates by a quarter percentage point, says inflation set to remain ‘too high for too long'
The European Central Bank on Thursday announced a new rate increase of 25 basis points, bringing its main rate to 3.75%

CNBC Economy
Jul 27, 2023

GDP grew at a 2.4% pace in the second quarter, topping expectations despite recession calls
Gross domestic product was expected to increase at a 2% annualized pace in the second quarter.

CNBC Economy
Jul 25, 2023

What new norm of slower Chinese growth could mean for the global economy
The Chinese economy could be facing a period of lower growth, which may have global ramifications after 45 years of rapid expansion and globalization.

CNBC Economy
Jul 20, 2023

Federal Reserve officially launches new FedNow instant-payments service
The system will be available 24 hours, seven days a week and is open to interested banks and credit unions.

CNBC Economy
Jul 19, 2023

UK inflation rate slides to 7.9% in June, below expectations
U.K. inflation cooled significantly in June, coming in below consensus expectations at 7.9% annually.

CNBC Economy
Jul 18, 2023

Fed banking regulator warns A.I. could lead to illegal lending practices like excluding minorities
Michael S. Barr said AI technology has potential, but also can be used for nefarious means.

CNBC Economy
Jul 18, 2023

Goldman Sachs cuts odds of a U.S. recession in the next year
The investment bank, however, expects some deceleration in subsequent quarters as a result of sequentially slower real disposable personal income growth.

CNBC Economy
Jul 17, 2023

The war against inflation is a long way away from being won
Despite recent signs that inflation is cooling, the fight to bring down the meteoric price increases of the past three years is far from over.

CNBC Economy
Jul 13, 2023

June wholesale prices rise less than expected in another encouraging inflation report
The PPI for final demand rose 0.1%. Economists surveyed by Dow Jones were expecting a rise of 0.2%.

CNBC Economy
Jul 13, 2023

Strategist David Roche says we'll avoid a global recession, central banks will 'change the goalposts'
Central banks will "change the goalposts without really saying so," on monetary policy, according to veteran strategist David Roche.

CNBC Economy
Jul 12, 2023

Inflation rose just 0.2% in June, less than expected as consumers get a break from price increases
The consumer price index was expected to increase 0.3% in June and 3.1% from a year ago.

CNBC Economy
Jul 10, 2023

This is 'the end of the beginning' of the battle against inflation, economist says
Top Societe Generale economist Kokou Agbo-Bloua said: "The central banks need to trigger a recession ... but we're not there yet."

CNBC Economy
Jul 10, 2023

Biden advisor defends stimulus and inflation surge: 'The real cause was the global pandemic'
Heather Boushey is a member of President Joe Biden's Council of Economic Advisers.

CNBC Economy
Jul 07, 2023

Fed's Goolsbee sees 'golden path' to lower inflation without a recession
Goolsbee said he's confident inflation can be tamed without a recession, even with additional rate increases likely.

CNBC Economy
Jul 07, 2023

The unemployment rate among Black workers increased in June for the second month in a row
The overall U.S. unemployment rate inched lower in June, but a negative trend in employment among Black workers may be developing.

CNBC Economy
Jul 07, 2023

Payrolls rose by 209,000 in June, less than expected, as jobs growth wobbles
Nonfarm payrolls were expected to increase by 240,000 and the unemployment rate to fall to 3.6% in June.

CNBC Economy
Jul 06, 2023

Payrolls report Friday likely to show a jobs market that is still hot
The consensus estimate is that payrolls rose by another 240,000 in June and the unemployment rate is projected to nudge lower to 3.6%.

CNBC Economy
Jul 06, 2023

Job openings fall by half a million
The closely watched JOLTS report showed that listings fell to 9.82 million, down 496,000 from April.

CNBC Economy
Jul 06, 2023

Private sector companies added 497,000 jobs in June, more than double expectations, ADP says
The U.S. labor market showed no signs of letting up in June, as companies created far more jobs than expected.

CNBC Economy
Jul 06, 2023

A U.S. recession is coming this year, HSBC Asset Management warns — with Europe to follow in 2024
The U.S. will enter a downturn in the fourth quarter, followed by a "year of contraction and a European recession in 2024," according to HSBC Asset Management.

CNBC Economy
Jul 04, 2023

Inflation blame game: UK economic woes set government and central bank on a collision course
In January, with one eye on a critical general election in 2024, U.K. Prime Minister Rishi Sunak vowed to halve inflation by the end of the year.

CNBC Economy
Jun 30, 2023

LGBTQ small business owners struggle to find financing
LGBTQ-owned businesses reported more rejections than non-LGBTQ businesses that applied for funding, according to a 2022 report.

CNBC Economy
Jun 30, 2023

Key Fed inflation measure shows prices rose just 0.3% in May
The personal consumption expenditures price index excluding food and energy was expected to increase 0.3% in May and 4.7% from a year ago.

CNBC Economy
Jun 29, 2023

First-quarter economic growth was actually 2%, up from 1.3% first reported in major GDP revision
The U.S. economy showed much stronger-than-expected growth in the first quarter than previously thought.

CNBC Economy
Jun 27, 2023

A U.S. recession is coming this year, HSBC warns — with Europe to follow in 2024
The U.S. will enter a downturn in the fourth quarter, followed by a "year of contraction and a European recession in 2024," according to HSBC Asset Management.

CNBC Economy
Jun 27, 2023

Markets are pricing in rate cuts too soon, IMF's Gopinath says
Major central banks will have to hold rates high for much longer than some investors expect, the IMF's Gita Gopinath told CNBC Tuesday.

CNBC Economy
Jun 25, 2023

Corporate bankruptcies and defaults are surging - here's why
The corporate default rate is up and rising as interest rates remain elevated, making it more expensive for companies to refinance debt.

CNBC Economy
Jun 24, 2023

High interest rates and economic uncertainty are behind recent rise in corporate defaults
The corporate default rate is up and rising as interest rates remain elevated, making it more expensive for companies to refinance debt.

CNBC Economy
Jun 23, 2023

European business activity slows in June as higher interest rates begin to bite
S&P Global's Chris Williamson described the numbers as "worrying" as the euro zone's flash composite PMI dropped to 50.3 in June.

CNBC Economy
Jun 20, 2023

Bank of England's conundrum deepens as inflation and labor market stay hot
The Bank of England is "caught between a rock and a hard place" as it prepares for a key monetary policy decision.

CNBC Economy
Jun 19, 2023

This investment manager is looking to bridge the racial wealth gap
Economic freedom has been more elusive for Black people. Veteran portfolio manager Jim Casselberry is trying to do something about that.

CNBC Economy
Jun 19, 2023

Brits are facing a major mortgage crisis as lending rates soar
The average two-year fixed rate rose above 6% on Monday as experts warned of chaos in a market with fewer available products.

CNBC Economy
Jun 19, 2023

Rate cuts, hikes and pauses: The world's central banks just made very different decisions
Major central banks are taking very different approaches to monetary policy, as the global economy "is no longer synchronized," an expert said.

CNBC Economy
Jun 13, 2023

Inflation rose at a 4% annual rate in May, the lowest in 2 years
The consumer price index was expected to rise 0.1% in May, according to the Dow Jones consensus estimate.

CNBC Economy
Jun 13, 2023

UK short-term borrowing costs shoot past 'mini-budget' crisis levels on strong labor data
The two-year gilt yield hit its highest level since late August 2008.

CNBC Economy
Jun 12, 2023

Inflation report Tuesday will be critical for the direction of Fed policy
The consumer price index is expected to show that all-items inflation increased just 0.1% last month, equating to a 4% annual rate.

CNBC Economy
Jun 12, 2023

Inflation outlook hits two-year low in latest New York Fed survey
The Survey of Consumer Expectations for May showed one-year inflation expectations down 0.3 percentage point to a 4.1% rate.

CNBC Economy
Jun 08, 2023

Jobless claims increase more than expected to their highest since October 2021
Initial filings for unemployment benefits totaled a seasonally adjusted 261,000 for the week ended June 3, an increase of 28,000.

CNBC Economy
Jun 08, 2023

Euro zone enters recession after Germany, Ireland growth revision
The euro zone entered a recession in the first quarter of this year and economists are not optimistic for the coming months.

CNBC Economy
Jun 06, 2023

World Bank sees major economies growing at much slower pace thanks to higher rates and banking stress
Growth forecasts for advanced economies project just 0.7% increase this year, down from 2.6% estimated growth in 2022.

CNBC Economy
Jun 02, 2023

Unemployment dropped among Hispanic men and women in May but rose for Black workers
The U.S. unemployment rate rose overall in May, but declined for Latino workers, according to the latest nonfarm payrolls report.

CNBC Economy
Jun 02, 2023

Here's where the jobs are for May 2023 — in one chart
Professional and business services led job creation for the month with 64,000 new hires.

CNBC Economy
Jun 02, 2023

Payrolls rose 339,000 in May, much better than expected in resilient labor market
Nonfarm payrolls were expected to increase by 190,000 in May, according to Dow Jones.

CNBC Economy
Jun 01, 2023

Here's what to watch out for in Friday's jobs report for May
Economists surveyed by Dow Jones expect job growth in May of 190,000, a decline from the 253,000 in April.

CNBC Economy
Jun 01, 2023

Private payrolls rose by 278,000 in May, well ahead of expectations, ADP says
The U.S. labor market posted another month of surprising strength in May as companies added jobs at a pace well above expectations.

CNBC Economy
May 26, 2023

Inflation rose 0.4% in April and 4.7% from a year ago, according to key gauge for the Fed
The core personal consumption expenditures price index was expected to increase 0.3% in April, according to a Dow Jones estimate.

CNBC Economy
May 26, 2023

A U.S. recession would be 'good news' for markets, strategist says
A U.S. recession may prevent a steep market downturn in the second half of 2023, according to Michael Yoshikami, founder and CEO of Destination Wealth Management.

CNBC Economy
May 25, 2023

How the A.I. explosion could save the market and maybe the economy
Whether it's personalized shopping or self-driving cars, AI will become a factor in virtually everyone's lives.

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