SME Times is powered by   
Search News
Just in:   • Exports fall by over 9 pc YoY in Nov  • Bharti Airtel arm picks up 4.9% stake more in Bharti Infratel  • Engineering exporters seek easier GST refund rules at BoT meet  • Centre to incubate electronics startups opened in K'taka  • Samsung tops global smartphone production in Q3: Report 
Last updated: 04 Sep, 2020  

USA.9.Thmb.jpg US economy grows modestly amid Covid-19 uncertainty: Fed survey

USA.9.jpg
   Top Stories
» Exports fall by over 9 pc YoY in Nov
» Engineering exporters seek easier GST refund rules at BoT meet
» RBI commences MPC meet on Wednesday
» 'Corporate India gradually reverting to normalcy'
» Manufacturing sector loses growth momentum in November
IANS | 04 Sep, 2020
The US economy grew modestly over the summer amid continued uncertainty about the Covid-19 pandemic and its negative effect on consumer and business activity, according to a Federal Reserve survey.

"Economic activity increased among most Districts, but gains were generally modest and activity remained well below levels prior to the Covid-19 pandemic," Xinhua news agency quoted the Fed as saying in its latest survey on economic conditions, known as the Beige Book, on Wednesday.

"Continued uncertainty and volatility related to the pandemic, and its negative effect on consumer and business activity, was a theme echoed across the country."

The survey also showed that the labour market remained volatile, while employment increased overall among districts.

"Some districts also reported slowing job growth and increased hiring volatility, particularly in service industries, with rising instances of furloughed workers being laid off permanently as demand remained soft," it said.

US private companies added fewer-than-expected 428,000 jobs in August, indicating a slow recovery in a labour market ravaged by the Covid-19 crisis, payroll data company Automatic Data Processing (ADP) reported earlier on Wednesday.

Amid fragile economic recovery from the pandemic, Fed Chairman Jerome Powell announced last week that the central bank will seek to achieve inflation that averages 2 per cent over time, a new policy strategy that will likely keep interest rates near zero for years.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 03 Dec, 2020
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(1)
» MSME registration(1)
» MSME schemes - Do you know all of them?(1)
» Biodiesel is the fuel of future: Santosh Verma(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter