German Exports Start to Recover
German exports rose 9% in May, as the gradual easing of restrictions to contain the coronavirus helped boost demand, but the bounce was less than expected.
BOJ Dowgrades View for all Nine Regional Economies
The Bank of Japan in its quarterly report said that the economies in the nine regions "had deteriorated or had been in a severe situation" due to the novel coronavirus.
U.S. Stocks Climb While China Rally Powers Ahead
U.S. stocks advanced, while mainland Chinese shares extended a winning streak for a seventh consecutive day.
U.S. Hits 3 Million Confirmed Coronavirus Cases
Infections continue to rise rapidly in populous states such as Florida and Texas, and New York City's mayor unveiled a plan to reopen the nation's largest school district this fall.
China's Industrial Deflation Eased in June
The decline in China's factory-gate prices moderated in June as global commodities prices recovered and the domestic manufacturing sector returned to normal, driving demand for industrial goods.
Atlanta Fed's Bostic Says Some Data Suggest Recovery Pace Leveling Off
Federal Reserve Bank of Atlanta President Raphael Bostic said Wednesday some data suggests the U.S. economy's recovery from the coronavirus pandemic-induced recession may be stalling as some parts of the country appear to not have handled reopening efforts as well as they could have.
U.S. Budget Gap in June Nearly Matched Entire Fiscal 2019 Deficit
The U.S. budget deficit totaled $863 billion in June, nearly as much as the entire gap for fiscal year 2019, as federal spending tripled to combat the coronavirus pandemic and tax revenues plunged.
U.S. Companies Slashed Dividends at Fastest Pace in More Than a Decade
U.S. companies scrambling to withstand the coronavirus pandemic unveiled in the second quarter their steepest dividend cuts since 2009, though the pace of cuts appears to have slowed.
Fed's $600 Billion Lending Program Will See More Interest if Economy Slumps, Official Says
The Federal Reserve's $600 billion lending program for medium-size businesses hasn't attracted much interest yet, but that is likely to change if the U.S. economy takes a turn for the worse amid rising coronavirus cases, said the official who runs the program.
New York Fed Official Explains Modest Use of Emergency Lending Tools
The relatively modest use of Federal Reserve emergency lending facilities during the coronavirus pandemic owes to the health of banks heading into the crisis and aggressive action by policy makers, a top Federal Reserve Bank of New York official said in remarks Wednesday.
