Us Inflation

US economy grows at 3.1% pace in Q3, upgrade from previous estimate

The American economy grew at a healthy 3.1 per cent annual clip from July through September, propelled by vigorous consumer spending and an uptick in exports, the government said in an upgrade to its previous estimate. Third-quarter growth in US gross domestic product the economy's output of goods and services accelerated from the April-July rate of 3 per cent and continued to look sturdy despite high interest rates, the Commerce Department said Thursday. GDP growth has now topped 2 per cent in eight of the last nine quarters. Consumer spending, which accounts for about two-thirds of US economic activity, expanded at a 3.7 per cent pace, fastest since the first quarter of 2023 and an uptick from Commerce's previous third-quarter estimate of 3.5 per cent. Exports climbed 9.6 per cent. Business investment grew a lackluster 0.8 per cent, but investment in equipment expanded 10.8 per cent. Spending and investment by the federal government jumped 8.9 per cent, including a 13.9 per cent

US Fed set to cut key rate but consumers might not benefit anytime soon

Federal Reserve officials on Wednesday will likely signal a slower pace of interest rate cuts next year compared with the past few months, which would mean that Americans might enjoy only slight relief from still-high borrowing costs for mortgages, auto loans and credit cards. The Fed is set to announce a quarter-point cut to its benchmark rate, from about 4.6% to roughly 4.3%. The latest move would follow a larger-than-usual half-point rate cut in September and a quarter-point reduction in November. Wednesday's meeting, though, could mark a shift to a new phase in the Fed's policies: Instead of a rate cut at each meeting, the Fed is more likely to cut at every other meeting at most. The central bank's policymakers may signal that they expect to reduce their key rate just two or three times in 2025, rather than the four rate cuts they had envisioned three months ago. So far, the Fed has explained its moves by describing them as a recalibration of the ultra-high rates that were ...

Markets Today: CPI, IIP data; US CPI; Nasdaq at 20K; Vishal Mega Mart IPO

As the markets prepare to open, the mood is upbeat. At 6:34 AM, the GIFT Nifty futures are trading 28 points higher at 24,762 levels, hinting at a positive start

Markets Today: Vishal Mega, MobiKwik IPOs; US inflation data; Gold rates

In the previous session, the Sensex settled at 81,510.05, up marginally by 1.59 points. In contrast, Nifty settled at 24,610.05, down 8.95 points, or 0.05 per cent

US economy grows at 2.8% in Q3 on consumer spending, exports surge

The American economy expanded at a healthy 2.8% annual pace from July through September on strong consumer spending and a surge in exports, the government said Wednesday, leaving unchanged its initial estimate of third-quarter growth. The Commerce Department reported that growth in US gross domestic product the economy's output of goods and services slowed from the April-July rate of 3%. But the GDP report still showed that the American economy the world's largest is proving surprisingly durable. Growth has topped 2% for eight of the last nine quarters. Still, American voters exasperated by high prices were unimpressed by the steady growth and chose this month to return Donald Trump to the White House to overhaul the nation's economic policies. He will be supported by Republican majorities in the House and Senate. Consumer spending, which accounts for about 70% of US economic activity, accelerated to a 3.5%% annual pace last quarter, up from 2.8% in the April-June period and

Gold prices rebound as dollar weakens ahead of key US inflation data

Gold registered its deepest one-day decline in more than five months on Monday, and hit its lowest since Nov. 18 in the previous session, as safe-haven demand for the metal softened

Market Today: Hero MotoCorp Q2; WPI; US inflation; & Niva Bupa IPO listing

In the previous session, both Sensex and Nifty extended their losing streak, each closing over 1 per cent lower. The BSE Sensex ended at 77,690.95, while the Nifty settled at 23,559.05

Asian shares slide on unease over jump in bond yields as US inflation eyed

Bond yields have soared since Donald Trump was elected back to the White House last week on expectations lower taxes

US consumers see lower inflation, debt delinquency risk: NY Fed survey

Households on average saw inflation over the next year at 2.9 per cent, down from 3.0 per cent in September and the lowest estimate for near-term price increases in four years

US weekly jobless claims up slightly, strong rise in unit labour costs

Though the labor market is easing, wage pressures are not showing a significant cooling, casting a shadow over the inflation and interest rate outlook

Markets decline for second consecutive week; Sensex ends 230 points lower

Only 3rd such instance for Nifty this year

Gold recovers slightly after 6 sessions ahead of key US inflation data

Spot gold was up 0.3 per cent at $2,615.19 per ounce, as of 0833 GMT. US gold futures edged 0.2 per cent higher to $2,632.30

Dollar edges down against yen after signs of labour market weakness

The greenback was down 0.39 per cent at 148.71 yen after rising to as high as 149.58 yen for the first time since Aug. 2 . The euro dropped to its lowest since Aug. 9 against the dollar

US consumer prices rise slightly in Sep, keep hopes of rate cut alive

The consumer price index increased 0.2 per cent last month after gaining 0.2 per cent in August, the Labor Department's Bureau of Labor Statistics said

US inflation likely cooled again last month in sign of healthy economy

US inflation last month likely reached its lowest point since February 2021, clearing the way for another Federal Reserve rate cut and adding to the stream of encouraging economic data that has emerged in the final weeks of the presidential campaign. The consumer price index is expected to have risen just 2.3% in September from 12 months earlier, down from the 2.5% year-over-year increase in August, according to economists surveyed by FactSet, a data provider. A reading that low, likely reflecting lower gas prices and only a slight rise in food costs, would barely exceed the Fed's 2% inflation target. A little over two years ago, inflation had reached a peak of 9.1%. Measured month over month, consumer prices are thought to have risen a scant 0.1% from August to September, down from a 0.2% increase the previous month. The improving inflation data follows a mostly healthy jobs report released last week, which showed that hiring accelerated in September and that the unemployment rate

Gold's fall continues on sixth day ahead of Fed meet, US inflation data

Even after the losses, gold prices are set for an over 25 per cent rise this year after prices hit a record peak of $2,685.42 on Sept. 26

Rupee to gauge trimmed bets of large Fed cut, US inflation data in focus

US jobless claims declined to a four-month low while gross domestic product grew at an unrevised 3 per cent

US inflation at turning point, focus should shift to jobs: WH's Brainard

Brainard, the former Fed vice chair who now serves as the director of the White House National Economic Council, said the Biden administration's focus now is to support growth and the labour market

US consumer prices rise 0.2% in Aug, underlying inflation shows stickiness

In the 12 months through August, the CPI advanced 2.5 per cent. That was the smallest year-on-year rise since February 2021 and followed a 2.9 per cent increase in July

US inflation-adjusted income rose in 2023 while poverty rate edged up: Data

Employment growth averaged around 250,000 new nonfarm payroll jobs a month over the course of 2023, well above the 183,000 average over the decade preceding the pandemic