|
|
|
|
|
|
|
|
Eurozone Inflation Climbs Further, Paving Way for ECB Rate Hike
|
|
|
- Eurozone inflation rose to 3.2% in May, its highest since September 2023, cementing expectations for an ECB rate hike on June 11.
- Higher energy prices, due to conflict and the Strait of Hormuz closure, prompted an ECB official to signal a rate increase.
- Manufacturers’ input costs rose at their steepest pace since May 2022, while services activity decreased fastest since February 2021.
|
|
|
South Korea Inflation Accelerated to 26-Month High in May
|
|
|
- South Korea’s headline inflation rose 3.1% from a year earlier in May, a 26-month high, the Ministry of Data and Statistics said.
- Bank of Korea, under Gov. Shin Hyun-song, left rates unchanged but signaled a hawkish stance; two board members voted for a hike.
- Higher oil prices and the won’s weakness against the U.S. dollar drove rising import costs, contributing to inflation.
|
|
Eurozone Unemployment Held Steady in April
|
|
|
- The eurozone’s unemployment rate remained unchanged at 6.3% in April, demonstrating resilience despite the war in Iran.
- The European Central Bank raised its 2026 inflation forecast to 3.0% and is expected to raise interest rates in June.
- Eurozone manufacturing experienced accelerated factory job losses in May amid intensifying inflationary pressures.
|
|
Remote Work May Be Fueling Youth Unemployment
|
|
|
- The New York Federal Reserve analysis suggests remote work explains 64% of the recent increase in unemployment among young college graduates.
- Unemployment for college graduates under 29 rose 20% to 3.7% in 2022-2025, while experienced graduates saw a dip to 1.8%.
- A contributing factor is reduced mentorship for early career workers in remote settings, leading firms to hire more experienced staff.
|
|
U.S. Factory Activity Expands in May
|
|
|
- U.S. factory activity expanded for the fifth consecutive month in May, with the Institute for Supply Management’s index at 54.
- The new orders index expanded for the fifth consecutive month, and the production index also continued to grow in May.
- The prices index remained in expansion but decreased from April, with 66.3% of respondents reporting higher prices in May.
|
|
China PMI Signals Manufacturing Held Up While Cost Pressures Rose
|
|
|
- China’s private manufacturing activity expanded at a slower pace in May, with the RatingDog PMI falling to 51.8 from 52.2.
|
|
Prominent Short Seller Andrew Left Convicted of Fraud
|
|
|
- Andrew Left, 55, a short seller, was convicted by a federal jury in Los Angeles of securities fraud.
- Prosecutors alleged Left used his reputation and social media to incite small price moves for quick profits.
- Left was found guilty of defrauding investors when he tweeted and traded about shares including Cronos Group, Nvidia, Tesla and American Airlines.
|
|
|
About Us
|
|
WSJ Pro Central Banking brings you news and analysis from a global team of reporters and editors at The Wall Street Journal and Dow Jones Newswires. Send your tips, suggestions and feedback to service@dowjones.com. An artificial-intelligence tool created these summaries, which are based on the text of the article and checked by an editor. Read more about how we use artificial intelligence in our journalism.
|
|
|
|
Access WSJ.com and our mobile apps.
Subscribe
|
