Economy

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The US Labor Department reported another new 661 million non farm paroll jobs in September.  Unemployment is recovering after the Coronavirus hit the economy as people return to work. The unemployment rate fell to 7.9% v. 8.1% estimate, Prior month 8.2%

The US Labor Department reported another new 1.371 million non farm paroll jobs in August.  Unemployment is recovering after the Coronavirus hit the economy as people return to work. The unemployment rate fell to 8.4% v. 9.8% estimate, Prior month 10.2%

German economy minister Peter Altmaier believes Germanyin an 'unexpectedly fast' V-shaped recovery. Despite Coronavirus fears global markets have soared to record highs and economies are saatring to life as PMI show life. The German government revised it' 2020 GDP forecast to -5.8% from -6.3% previously.

The Conference Board said Consumer Confidence declined in August for the second consecutive month in the US with the index at 84.8 v 93.0 expected and 92.6 in July as the Covid-19 lockdown angt continued and stimulus paymetns expired. Consumers appear to see low interest rates and stimulus payments as a one-off event. Consumers were also more pessimistic about the short-term outlook. 

The US Labor Department reported another new 1.763 million non farm paroll jobs in July.  Unemployment and rise in non-farm payroll jobs as the Coronavirus hit the economy. The unemployment rate fell to 10.2% v. 10.6% estimate, Prior month 11.1%

US existing home sales for June were 4.72M v. 4.75M estimate. However the highlight was condominium sales soared by 29.4%, Hhousing inventory -18.2% from a year ago with huge jumps in the South and West

The US Labor Department reported another a surprise fall in unemployment and rise in non-farm payroll jobs on Friday for June as the Coronavirus hit the economy. Unemployment rate 11.1% v. 12.5% estimate, Prior month 13.3%

Harvard Research has shown that the coronavirus might have been spreading in China as early as August last year Reueters reports. Included in the research is satellite images of hospital travel patterns and search engine data. In response China has dismissed the report as "ridiculous".

The US Labor Department last month reported the a surprise fall in unemployment and rise in non-farm payroll jobs on Friday for May as the Coronavirus hit the economy. Unemployment rate 13.3% v. 19% estimate, Prior month 14.7%

New home sales for April surprise with a much higher 623K versus a 480K estimate, that is a 0.6% vs. -23.4% estimate. This follows a revised 619K in March. May will be watched to see how many contracts are completed due to the Covid Lockdown.

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