Weekly Cryptonews
The first part of the week was more than optimistic for Bitcoin. However, now it is going through the correction phase.
American first-quarter productivity demonstrates the fastest surge tempo since 2014
In the first quarter, American worker productivity managed to rally at the fastest tempo for over four years, thus depressing labor costs and also suggesting that inflation could stay benign for a while.
As the Labor Department informed, on Thursday, nonfarm productivity, gauging hourly output per worker, went up at a 3.6% annualized rate in the last quarter. It turned out to be the strongest tempo since the third quarter of 2014.
The fourth quarter’s data was updated downwards to demonstrate productivity soaring at a tempo of 1.3% versus the previously posted 1.9% outcome.
Market experts interviewed by Reuters had hoped that first-quarter productivity would head north at a 2.2% rate.
The acceleration in productivity was marked by a leap in GDP surge in the January-March period.
For the first three months of 2019, the American economy rallied at a 3.2% rate having expanded at a 2.2% tempo in the fourth quarter.
In general, the trend in productivity is definitely getting better. In contrast with the first quarter of last year, US productivity surged at a rate of 2.4% that appears to be the best performance since the third quarter of 2010.
The firm tempo of productivity put pressure on surge in labor costs, which is a potential driver of corporate gains. The price of labor per single unit of output, unit labor costs headed south at a 0.9% in the first quarter having soared at a 2.5% rate in the previous quarter.
In contrast with the first quarter of last year, labor costs went up at a 0.1% rate that appears to be the weakest tempo since the fourth quarter of 2013.
Similar
China's retail sales surge dives to 16-year minimum
On Wednesday, China posted shockingly weaker surge in retail sales as well as industrial output for April, thus increasing pressure on the Chinese cabinet to roll out more stimulus because the trade conflict with America escalates…
American import prices rally a bit
In April, American import prices surged less than anticipated in April due to the fact that jumps in the cost of food and petroleum were tamed by the largest tumble in the price of capital goods for a decade, dropping a hint at the fact that inflation…
Latest news
Weekly CryptoNews
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
Most Asian stocks post strong revenues with Nikkei rising more than 2%
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan real wages surge is slowest in almost two years
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
Deposit with your local payment systems
