China May factory growth surpasses expectations, official PMI shows

by EFSD | May 31, 2018 | Economic News

China’s official manufacturing Purchasing Managers’ Index for May was 51.9. Economists in a Reuters poll had expected official PMI to come in at 51.3 in May, which would have been a dip from a reading of 51.4 in April. China reported on Thursday that...

OECD predicts two more years of economic expansion, but oil and trade are major risks

by EFSD | May 30, 2018 | Economic News

Oil and trade posing greatest risks to global economic expansion, says OECD. Gross domestic product (GDP) growth around world averaging near to 4 percent. Economic expansion underpinned by low interest rates and fiscal stimulus. The current outlook for growth is...

Consumer confidence bounces back in May, remains at ‘historically strong levels’

by EFSD | May 29, 2018 | Economic News

American consumers were feeling more a bit more optimistic in May following a slight decline in confidence in April. The May reading matched Reuters’ estimates at 128, an increase from 125.6 in April. Consumers’ assessment of current conditions improved,...

The U.S. needs 50,000 truck drivers to avoid a shipping squeeze

by EFSD | May 28, 2018 | Economic News

Retailers are facing a shipping squeeze, and the trucking industry just can’t keep up. According to the American Trucking Associations, there’s a shortage of roughly 50,000 truck drivers across the country. And it’s hitting both businesses and...

Oil could skyrocket to $100 as summer gets into full swing, RBC’s Helima Croft says

by EFSD | May 27, 2018 | Economic News

Global oil prices took a hit in the last week, but a confluence of factors could carry Brent to its highest levels in more than three years this summer, according to one commodities market veteran. “People are throwing out the $100 level. I don’t have that...