The Business Times
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US economy

Property

AI office demand seen spreading beyond NYC, San Francisco

The Iran war has rattled the property market, with the ceasefire having raised hopes that easing geopolitical tensions will help stabilise borrowing costs.
Property

US mortgage rates rise to 6.49%, reversing last week’s drop

Total credit outstanding decreased by about US$182 million in May after sizable increases in the prior two months.
International

US consumer borrowing unexpectedly drops by most since 2024

The Fed left its benchmark interest rate unchanged in the 3.5 to 3.75 per cent range at the June meeting.
Banking & Finance

Fed policymakers’ inflation concerns grew at June meeting, minutes show

US wholesale inventories increased solidly as initially estimated in January, but the pace slowed significantly from the prior month, which could result in inventories making little or no contribution to economic growth this quarter.
International

US wholesale inventories in May revised lower

Measures of business activity and new orders cooled, though still signalled solid demand.
International

US service sector expands at a slower pace, hiring picks up

Fed chair Kevin Warsh On Wednesday (Jul 1) said price risks have come down in recent weeks and repeated his commitment to bringing inflation down 2% target.
Global Enterprise

Trump says Fed chair Warsh faces ‘hostile’ board over monetary policy

Manufacturing, which accounts for 9.4 per cent of the economy, remains supported by the AI spending boom.
International

US factory orders fall in May, weighed down by weak demand for commercial aircraft

The US’ unemployment rate has fallen to 4.2%, pointing to continued labour market stability.
International

US job growth misses expectations in June; jobless rate falls to 4.2%

Despite June’s pullback in activity, manufacturing has grown for six consecutive months.
International

US manufacturing activity eases in June; prices paid by factories remain elevated

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