U.S. productivity falls at 0.9% rate in first quarter
U.S. productivity fell at a 0.9% rate in the first three months of this year, a smaller decline than first estimated, while labor costs rose at a slightly faster pace.
Jobless claims, total unemployment level worse than expected
First-time claims for unemployment insurance were expected to total 1.775 million last week, according to economists surveyed by Dow Jones.
'The Covid-19 recession is over,' says economist Zandi as May job losses not as bad as feared
Finding good news in the loss of another 3 million jobs isn't easy, but the steep drop in private payrolls for May could be a sign that the worst over.
Private payrolls decline by 2.76 million in May, ADP says, a much smaller drop than feared
The reported total was well below the 8.75 million estimate from economists surveyed by Dow Jones. The reason for the wide disparity was not immediately clear.
GDP is now projected to fall nearly 53% in the second quarter, according to a Fed gauge
The GDPNow outlook is now showing a 52.8% tumble, following data that manufacturing remains firmly in decline and will weigh on investment and consumption.
Visa sees a pickup in consumer spending in May
Visa's total U.S. payments volume fell at a much slower pace in May from the previous month, indicating that consumer spending was picking up as the government starts to ease coronavirus-induced lockdowns.
U.S. manufacturing activity pulls off 11-year low
U.S. manufacturing activity eased off an 11-year low in May, though the recovery from the Covid-19 crisis could take years because of high unemployment.
Consumer confidence rises unexpectedly in May as economy reopens
Consumer confidence unexpectedly improved in May as the U.S. economy slowly restarted, according to data from the Conference Board.