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The Labour Growth Group was set up last week to keep the support the Government mission to build more homes and infrastructure. Some Labour left MPs believe it is a No10 "front", but members insist it was set up to keep the party focused on "its most important mission".
Rachel Reeves has said the Labour government will bring back housebuilding targets as part of its plan to change Britain's planning rules and grow the size of the economy.
WASHINGTON (AP) — The American economy expanded at a 1.4% annual pace from January through March, the slowest quarterly growth since spring 2022, the government said Thursday in a slight upgrade from its previous estimate. Consumer spending grew just 1.5%, down from an initial estimate of 2% in a sign that high interest rates may be taking a toll on the economy.
Bank of Canada governor Tiff Macklem is sounding the alarm on Canada's productivity problem and urging policymakers to dig into why the country struggles with low business investment.
BILLINGS, Mont. (AP) — The Biden administration is advancing its plan to restrict logging within old-growth forests that are increasingly threatened by climate change, with exceptions that include cutting trees to make forests less susceptible to wildfires, according to a U.S. government analysis obtained by The Associated Press.
Immigration — both authorized and unauthorized — has helped the U.S. job market sustain a fiery run in recent months without reigniting inflation, economists and analysts say. The effect has been a favorable, though uncertain, situation for President Joe Biden ahead of the November election. A blockbuster May jobs report showed that the U.S. economy added 272,000 jobs last month, well above the Dow Jones' forecast of 190,000. Meanwhile, the Bureau of Labor Statistics reported last week that consumer prices in May remained unchanged, and even fell slightly on an annual basis. This dynamic — a heating job market and cooling inflation — is in part the result of increased inflows of immigrants. "Recent immigrants have flowed disproportionately into the parts of the labor force that were particularly tight in 2
As officials at the Federal Reserve weigh whether and when to cut interest rates this year, they have been hoping to see evidence that the labor market is gradually cooling but with unemployment remaining low.
Factory activity in China slowed more than expected in May, suggesting further pressure on an economy already burdened by a prolonged crisis in the property industry, according to an official survey released Friday.