In the United States, the gross national product grew by 1.3 percent, the labor market situation remains tight

In the United States, the gross domestic product grew by 1.3 percent in January compared to the same period last year. Bloomberg’s the consensus of economists put together predicts that growth will remain at one percent.

The labor market situation in the United States also remains tight. Last week, 229,000 new applications for unemployment compensation were made, while economists expected the number of applications to have risen to 245,000.

The previous week’s unemployment data was revised downward to 225,000 instead of the previously announced 242,000, when thousands of fraudulent unemployment compensation applications were reported in the country, Bloomberg reported.

The tight labor market strengthens inflation, which may lead to continued interest rate hikes in the United States.

Market uncertainty is increased by the lack of agreement in the debt ceiling negotiations between Democrats and Republicans. If the parties do not reach an agreement on raising the upper limit of the country’s debt ceiling, the country will become insolvent at the beginning of June.

“I think we made progress on the issue,” commented the speaker of the House of Representatives, a Republican Kevin McCarthy after the negotiations ended early Thursday morning in Washington, Bloomberg reported.

“There are still unresolved issues on the table. I have assigned our team to work around the clock to resolve the issue.”

The interest rate on the US ten-year government bond was up 0.4 percentage points a moment ago at 3.748 percent. The corresponding interest rate in Germany was 2.4 percentage points lower at 3.017 percent.

Interest rates on two-year government bonds moved in different directions. In the United States, the interest rate was up 5 percentage points at 4.423 percent. In Germany, the corresponding interest rate was 0.9 percentage points lower at 2.813 percent.

At 16:02, the euro fetched 1.0716 dollars, 149.85 yen, 0.86861 pounds and 11.567 Swedish kronor. The dollar was 139.83 yen and the pound was 1.2337 dollars.

Wall Street futures were mixed. The Dow Jones was slightly down, but the Nasdaq was up a whopping 2.3 percent. The S&P 500 was up 0.9 percent.

Source: Arvopaperi by

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