Euro zone business activity has expanded at its fastest pace in a year this month, supported by buoyant demand for services, while the manufacturing sector showed signs of approaching a recovery, a preliminary survey showed on Thursday.
Japan consumer price index (CPI) inflation eased as expected in April as private spending remained squarely on the backfoot, raising more doubts over the Bank of Japan’s forecast of higher inflation and its capacity to raise interest rates.
New vehicle sales in the United States are projected to rise in May from a year earlier, helped by demand for crossover SUVs and pickup trucks, according to a joint report by industry consultants J.D. Power and GlobalData on Thursday.
Businesses across the globe broadly enjoyed an improved performance this month with activity picking up in the United States and across parts of Asia and Europe, surveys showed on Thursday, giving central banks room to potentially defer cutting interest rates.
The number of Americans filing new claims for unemployment benefits fell last week, pointing to underlying strength in the labor market that should continue to support the economy.
Asian stocks fell on Friday, while the dollar advanced as strong U.S. economic data bolstered the prospect of interest rates staying higher for longer and the Federal Reserve taking its time in cutting rates, keeping investors away from risky assets.