Tag: Yahoo Finance

31 Oct by Vitaliy Dadalyan Tags:

India Infrastructure Output Contracts to Lowest in 14 Years

(Bloomberg) -- India’s core infrastructure industries’ output contracted last month to the lowest since at least 2005, reflecting an enduring sharp weakness in economic activity.The index of eight core infrastructure industries, which comprises output of coal, crude oil, cement and electricity among others, declined 5.2% in September, the government said in a statement Thursday. That was the second straight month of contraction.Key InsightsA contraction in output of coal (-20.5%), crude oil (-5.4%), refinery products (-6.7%), natural gas (-4.9%), cement (-2.1%), electricity (-3.7%) and steel (-0.3%) weighed on the overall index. Only fertilizers production rose 5.4%State-run Coal India Ltd.’s monthly production dropped to a record low in September as the heaviest rains in 25 years flooded mines and hindered shipmentsThe core infrastructure sector accounts for 40% of total industrial production and the weakness is bound to drag down factory output, which in August saw the first decline in more than two years....
31 Oct by Vitaliy Dadalyan Tags:

U.S. weekly jobless claims rise more than expected

The number of Americans filing applications for unemployment benefits rose slightly more than expected last week, but the trend in claims remained consistent with strong labor market conditions. Initial claims for state unemployment benefits increased 5,000 to a seasonally adjusted 218,000 for the week ended Oct. 26, the Labor Department said on Thursday. Data for the prior week was revised to show 1,000 more applications received than previously reported....