recession
US new home sales witnessed a notable decline, contracting by 11.3% in May compared to April, according to the Census Bureau’s latest report on Wednesday. The data revealed that sales were recorded at an annual rate of 619,000 in May. Furthermore, the median house prices experienced a decrease, with homes selling at a median price of $417,400, down from $433,000 the previous month. Given the ongoing concerns of a US recession, as indicated by the CB Consumer Confidence Index.) for the fifth consecutive month, market watchers eagerly awaited the release of the latest figures from the US housing...
Invezz
United States consumers are less confident on the current state of the economy, according to the latest Consumer Confidence Index reading, released by The Conference Board (CB) today. According to the CB, the Consumer Confidence Index fell to 100.4 in June, declining from 101.3 in May (revised downwards from an initial reading of 102.00). Confident in the present, anxious about the futureWhile Americans’ sentiment on the economic environment right now improved, they were more pessimistic on what would happen in the future. The CB data showed that its Present Situation Index (based on consumers...
Invezz
New Zealand has emerged from a recession that saw two consecutive quarters of economic contraction within an 18-month span. Official figures released on Thursday revealed that the country’s gross domestic product (GDP) grew by 0.2 percent in the first quarter of the year, following a 0.1 percent decline in the previous quarter. This modest growth, driven primarily by population increases due to record-high immigration, has not dispelled concerns about the underlying health of the economy. Economic growth driven by population increaseWhile the slight uptick in GDP surpassed expectations, it was...
Invezz
The US dollar has seemed nigh on invincible for the better part of 2024 so far, with most currencies losing ground to the USD overall in the past six months. But will the trend continue? Today, a wealth of data is coming out of the United States, which may prove very instrumental in determining the movement of the US dollar – and also the likelihood of rate cuts still in 2024 – later. While these are less splashy and high-profile than releases such as Nonfarm Payrolls and interest rate decisions, many of them can provide crucial clues as to the state of the US economy (such as housing market h...
Invezz
Hopes of the United Kingdom shaking its late 2023 technical recession appear to have been short-lived, after grim real gross domestic product (GDP) figures from the Office for National Statistics (ONS) this morning. According to the ONS, the UK economy stalled in April, showing no growth whatsoever, showing 0% figures versus the 0.4% growth seen in March 2024. Declining production and constructionThis morning’s data also showed that production output in the UK fell by 0.9% in April 2024 following growth of 0.2% in March 2024, but grew by 0.7% in the three months to April 2024. Construction out...
Invezz
At the beginning of 2024, Citigroup chief US economist predicted in a CNBC interview that the USA would enter a recession in the middle of the year. With June around the corner, we round up our top 5 recession-proof stocks in May 2024: Regeneron Pharmaceuticals IncWaste Management IncThe Procter & Gamble CompanyWalmart1. Regeneron Pharmaceuticals IncTwo industries known to be resilient in challenging economic times are the pharmaceuticals and healthcare sectors. American biotechnology and big pharma company Regeneron does this better than most. For example, in the chaotic first days of FY 2020...
Invezz
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