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Philly Fed Index Unexpectedly Indicates Accelerated Contraction In February
(RTTNews) - Philadelphia-area manufacturing activity unexpectedly contracted at an accelerate rate in the month of February, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday.
The Philly Fed said its diffusion index for current activity plunged to a negative 24.3 in February from a negative 8.9 in January, with a negative reading indicating a contraction. Economists had expected the index to inch up to a negative 7.4.
Looking ahead, the Philly Fed said most of the survey's future indicators were positive but low, suggesting tempered expectations for growth over the next six months.
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U.S. Labor Productivity Slumps 1.5% In Q1, Much More Than Previously Estimated
Revised data released by the Labor Department on Thursday showed U.S. labor productivity tumbled by much more than previously estimated in the first quarter of 2025. The Labor Department said labor productivity slumped by 1.5 percent in the first quarter compared to the previously reported 0.8 percent decline. Economists had expected the decrease by labor productivity to be revised to 0.7 percent.
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16h 7min ago
U.S. Trade Deficit Narrows Substantially In April As Imports Plummet
Largely reflecting a sharp pullback by the value of the imports, the Commerce Department released a report on Thursday showing a substantial decrease in the size of the U.S. trade deficit in the month of April. The Commerce Department said the U.S. trade deficit narrowed to $61.6 billion in April from a revised $138.3 billion in March.
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16h 25min ago
U.S. Jobless Claims Unexpectedly Rise To Nearly Eight-Month High
With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits unexpectedly increased in the week ended May 31st. The report said initial jobless claims climbed to 247,000, an increase of 8,000 from the previous week's revised level of 239,000.
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16h 43min ago
U.S. Labor Productivity Slumps Much More Than Previously Estimated In Q1
Revised data released by the Labor Department on Thursday showed U.S. labor productivity tumbled by much more than previously estimated in the first quarter of 2025.
RTTNews
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17h 25min ago
U.S. Trade Deficit Narrows Much More Than Expected In April
Largely reflecting a sharp pullback by the value of the imports, the Commerce Department released a report on Thursday showing a substantial decrease in the size of the U.S. trade deficit in the month of April.
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17h 29min ago
U.S. Weekly Jobless Claims Unexpectedly Rise To 247,000
With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits unexpectedly increased in the week ended May 31st.
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17h 33min ago
U.S. Services Index Unexpectedly Indicates Slight Contraction In May
Service sector activity in the U.S. unexpectedly saw a slight contraction in the month of May, the Institute for Supply Management revealed in a report released on Wednesday. The ISM said its services PMI fell to 49.9 in May from 51.6 in April, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 52.0.
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1 day ago
U.S. Private Sector Adds 37,000 Jobs In May, Much Fewer Than Expected
A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by much less than expected in the month of May. ADP said private sector employment rose by 37,000 jobs in May after climbing by a downwardly revised 60,000 jobs in April. Economists had expected private sector employment to jump by 115,000 jobs.
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1 day ago
