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U.S. Trade Deficit Narrows Slightly More Than Expected In October
(RTTNews) - Reflecting a steep drop by the value of imports, the Commerce Department released a report on Thursday showing the U.S. trade deficit narrowed by slightly more than expected in the month of October.
The Commerce Department said the trade deficit shrank to $73.8 billion in October from a revised $83.8 billion in September.
Economists had expected the trade deficit to decrease to $75.0 billion from the $84.4 billion originally reported for the previous month.
The narrower trade deficit came as the value of imports tumbled by 4.0 percent to $339.6 billion, although the value of exports also slumped by 1.6 percent to $265.7 billion.
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U.S. Service Sector Activity Returns To Expansion In October
The Institute for Supply Management released a report on Wednesday showing U.S. service sector activity returned to expansion in the month of October. The ISM said its services PMI climbed to 52.4 in October after falling to 50.0 in September, with a reading above 50 indicating growth. Economists had expected the index to inch up to 50.8.
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7h 55min ago
U.S. Private Sector Employment Rebounds More Than Expected In October
Payroll processor ADP released a report on Wednesday showing private sector employment in the U.S. rebounded by more than expected in the month of October. ADP said private sector employment climbed by 42,000 jobs in October after slipping by a revised 29,000 jobs in September. Economists had expected private sector employment to rise by 25,000 jobs.
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8h 38min ago
U.S. Private Sector Adds 42,000 Jobs In October, More Than Expected
Payroll processor ADP released a report on Wednesday showing private sector employment in the U.S. rebounded by more than expected in the month of October.
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9h 55min ago
U.S. Manufacturing Index Unexpectedly Edges Lower In October
Manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate in the month of October, according to a report released by the Institute for Supply Management on Monday. The ISM said its manufacturing PMI slipped to 48.7 in October after edging up to 49.1 in September, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 49.5.
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2 days ago
Chicago Business Barometer Climbs More Than Expected But Still Indicates Contraction
A reading on Chicago-area business activity increased by more than expected in the month of October but continued to indicate contraction, according to a report released by MNI Indicators on Friday. The report said the Chicago business barometer climbed to 43.8 in October after slipping to 40.6 in September. Economists had expected the index to show a more modest increase to 42.3.
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5 days ago
Fed Announces Widely Expected Decision To Cut Rates By Another Quarter Point
After cutting interest rates for the first time this year in September, the Federal Reserve on Wednesday announced its widely expected decision to lower rates by another quarter point. The Fed said it decided to lower the target range for the federal funds rate by 25 basis points to 3.75 percent to 4.0 percent in support of its dual goals.
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7 days ago
U.S. Pending Home Sales Unexpectedly Unchanged In September
After reporting a sharp increase by pending home sales in the U.S. in the previous month, the National Association of Realtors released a report on Wednesday showing pending home sales unexpectedly came in flat in the month of September. NAR said its pending homes sales index was unchanged at 74.8 in September after surging by 4.2 percent in August.
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7 days ago
U.S. Consumer Confidence Edges Modestly Lower In October
Consumer confidence in the U.S. saw a modest deterioration in the month of October, according to a report released by the Conference Board on Tuesday. The Conference Board said its consumer confidence index dipped to 94.6 in October from an upwardly revised 95.6 in September.
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8 days ago
