U.S. factory activity failed to gain steam in April after slowing for five straight months and demand for automobiles softened, suggesting the economy was struggling to find momentum after growth almost stalled in the first quarter.
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Corvus Energy Succeeds, Where U.S. Energy Startups Failed
Corvus Energy, Canadian lithium-ion battery company has successfully made it to top three in Deloitte Technology Fast 500 ranking. Recently, Statoil, Norwegian largest offshore oil and gas company also invest in Corvus battery technology.
Cautious consumers cast doubt on U.S. growth outlook
U.S. consumer spending growth unexpectedly stalled in April as households cut back on purchases of automobiles and continued to boost savings, suggesting the economy was struggling to gain momentum early in the second quarter.
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The average price of a gallon of regular-grade gasoline in the United States rose 22 cents over the past three weeks to $2.82, according to a Lundberg survey released on Sunday.
Euro jumps past $1.14 as U.S. economic worries grow
The dollar fell on Thursday to its weakest against a basket of major currencies since the European Central Bank announced a program of quantitative easing in January, hit by growing concern that the U.S. economy has not just been suffering from a winter chill.
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U.S. economic growth likely braked sharply in the first quarter as harsh weather dampened consumer spending and energy companies struggling with low prices cut spending, but there are signs activity is picking up.
U.S. consumer prices increased for a second straight month in March on rising gasoline and housing costs, a sign of an uptick in inflation that should keep the Federal Reserve on course to start raising interest rates this year.
U.S. housing starts rose far less than expected in March and factory activity in the mid-Atlantic region grew modestly this month, suggesting the economy could struggle to rebound from a soft patch hit in the first quarter.
U.S. industrial output posted its biggest drop in more than 2-1/2 years in March in part as oil and gas well drilling plummeted, highlighting the negative impact of lower crude prices and a strong dollar on the economy.
The state of the U.S. labor market in March will consume economists and investors in the week leading up to Easter, adding to the seesaw debate over when the Federal Reserve will spring its first interest rate hike.
U.S. business investment spending plans fell for a sixth straight month in February, likely weighed down by a strong dollar and weak global demand, leading economists to further lower their first-quarter growth estimates.
U.S. employment likely rose strongly in February with the jobless rate slipping, signs that could encourage the Federal Reserve to consider hiking interest rates in June.
Honda Motor Co (7267.T) on Saturday praised an agreement to end a labor dispute at U.S. West Coast ports but said shipping delays will cost the company about 25,000 vehicles this month.
The U.S. labor secretary joined congressional leaders, three governors and a big-city mayor on Wednesday in pushing shipping lines and the dockworkers' union to settle a contract dispute that has led to months of turmoil and cargo backups at 29 West Coast ports.
