The most important events and reports on the economy, central banks and politics from the Dow Jones Newswires program.
Philly Fed index higher than expected in August
The industrial situation in the Philadelphia area improved more than expected in August. The economic index of the Federal Reserve Bank of Philadelphia rose to plus 6.2 (July: minus 12.3) points. Economists had forecast an increase to just minus 5.0. The improvement in economic conditions was broad-based, with price pressure easing somewhat. The index of incoming orders increased to minus 5.1 (minus 24.8) points, the index of realized prices fell to 23.3 (30.3) points.
Number of initial US jobless claims lower than expected
The number of initial claims for US unemployment insurance benefits for the week ended August 13, 2022 was slightly lower than expected. Compared to the previous week, it fell by a seasonally adjusted 2,000 to 250,000, according to the US Department of Labor. Economists polled by Dow Jones Newswires had predicted a drop to 260,000. The figure for the previous week was revised down to 252,000 from the original 262,000. The four-week moving average decreased 2,750 from the previous week to 246,750.
Russia moves hypersonic missiles to Kaliningrad
Russia has deployed three fighter jets armed with hypersonic missiles to its Kaliningrad exclave. The Mig-31i aircraft with Kinzhal missiles were stationed at the Shkalovsk base in Kaliningrad, the Defense Ministry in Moscow announced on Thursday. They formed a combat unit there that was “ready for action around the clock”.
Survey sees Liz Truss ahead in the race to succeed Johnson
According to a recent survey, Foreign Minister Liz Truss is still clearly in the lead in the race to succeed British Prime Minister Boris Johnson. The Sky News poll published on Thursday puts Truss at 66 percent, 32 percentage points ahead of her rival, former Finance Minister Rishi Sunak.
Serbia and Kosovo at top-level talks in Brussels
Because of the new tensions between Serbia and Kosovo, the EU held talks with Serbian President Aleksandar Vucic and Kosovo’s Prime Minister Albin Kurti. “Recent tensions in northern Kosovo have shown once again that it is time to make progress towards full normalization of relations,” EU chief diplomat Josep Borrell tweeted on Thursday. Borrell called for both countries aiming to join the EU to be “open and flexible”.
Contact the author: [email protected]
DJG/DJN/AFP/hab/jhe
(END) Dow Jones Newswires
August 18, 2022 13:00 ET (17:00 GMT)