February 6, 2025
United States:
US Initial Jobless Claims Pick Up, Still Near Pre-Covid Levels
Initial applications for US unemployment benefits picked up last week but remained relatively subdued.
New claims increased by 11,000 to 219,000 in the week ended Feb. 1. The median forecast in a Bloomberg survey of economists called for 213,000 applications.
Europe:
German Orders Jump in Further Sign of Industry Stabilization
German factory orders surged in December, adding to evidence that the outlook for the beleaguered sector may be improving.
Demand increased 6.9% from the previous month, far more than predicted by any of the 23 economists surveyed by Bloomberg.
Asia:
Kuroda Says BOJ to Stay on Rate Hike Path as Deflation Has Ended
Japan has “completely” ended deflation and it’s absolutely natural for the central bank to proceed with rate hikes to normalize policy, according to former BOJ Governor Haruhiko Kuroda, whose term was defined by ultra easy monetary settings.
“Japan’s economy is completely back,” Kuroda said Thursday at a conference in Tokyo. “It’s perfectly natural for the BOJ to conduct policy normalization.”
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