U.S. Initial Jobless Claims Fall, Ease Worry of Worsening Market
“Applications for unemployment benefits in the U.S. declined last week by more than projected, easing concerns of a renewed downturn in the labor market after several large states reported a pickup in coronavirus cases. Initial jobless claims in regular state programs fell by 99,000 — the most in a month — to 1.31 million in the week ended July 4, Labor Department data showed Thursday. The median forecast in a Bloomberg survey of economists called for 1.375 million.”
Europe’s Next Big Rescue Idea: Public Stakes in Small Firms
“European policy makers who frantically assembled plans to help their economies weather the coronavirus lockdowns are starting to focus on how to prevent cascading bankruptcies that could derail the rebound. The next big idea gaining traction among officials and economists is potentially taking stakes in small and medium-sized businesses, in contrast to early efforts that relied heavily on loans to keep corporations afloat.”
China Factory Deflation Eased in June With Recovery on Track
“China’s factory deflation eased back in June as the economic recovery continued, while consumer inflation ticked up. The decline in the producer price index narrowed to 3% last month from May’s 3.7%, the National Bureau of Statistics said Thursday. The consumer price index rose 2.5% on year following a 2.4% gain the previous month. The statistics bureau earlier published statements dated 2019 which were then withdrawn.”
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