U.S. consumer spending tumbled 0.5 percent in December, the biggest decline in nine years, as the holiday shopping season ended in disappointment. Meanwhile, incomes rose sharply in December but edged down in January. The fall in consumer spending followed sizable ...
Read More »US consumer prices flat in November as energy plunges
U.S. consumer prices were unchanged in November, the best performance since prices actually fell eight months ago. The docile inflation reading reflected a big drop in the cost of gasoline and other energy products. The Labor Department said Wednesday that ...
Read More »Fed Chairman Powell says economic challenges remain
Federal Reserve Chairman Jerome Powell said Monday that despite solid economic progress, the country still faces a number of challenges ranging from slow wage-growth for lower-income workers to sluggish productivity and an aging population. Powell said in remarks at a ...
Read More »Consumer spending up strong 0.6 percent in October
Consumers boosted their spending in October at the fastest pace in seven months, while their incomes rose by the largest amount in nine months — both good signs for future economic growth. Consumer spending rose a sharp 0.6 percent last ...
Read More »Fed announces new report on financial stability
The Federal Reserve will begin issuing a new report twice a year assessing the stability of the U.S. financial system. The Fed said last week that the first report will be issued on Nov. 28. It will provide information on ...
Read More »Productivity growth slows to 2.2 percent rate in Q3
U.S. productivity grew at an annual rate of 2.2 percent in the third quarter, a slowdown from the previous quarter, though still better than the lackluster gains of the last decade. Labor costs accelerated, though remained at a low level. ...
Read More »US economy grew at strong 3.5 percent rate in Q3
The U.S. economy grew at a robust annual rate of 3.5 percent in the July-September quarter as the strongest burst of consumer spending in nearly four years helped offset a sharp drag from trade. The Commerce Department said Friday that ...
Read More »US durable goods orders edged up modest 0.8 percent
Orders to U.S. factories for big-ticket manufactured goods slowed significantly in September, while a key category that tracks business investment fell for a second straight month. Demand for durable goods edged up a slight 0.8 percent in September, a sharp ...
Read More »Consumer prices up slight 0.1 percent in September
Consumer prices edged up a slight 0.1 percent in September as energy prices retreated after a big gain in August. The Labor Department said Thursday that the September gain in its closely watched consumer price index followed a 0.2 percent ...
Read More »Construction spending up slightly 0.1 percent in August
Spending on U.S. construction projects edged up a slight 0.1 percent in August as a strong gain in government spending offset weakness in home building and nonresidential construction. The Commerce Department said Monday that the rise, which followed a 0.2 ...
Read More »Fed’s 3rd hike this year expected despite rising trade risks
The Federal Reserve is set this week to raise interest rates for a third time this year to prevent the economy from growing too fast. With President Donald Trump’s trade fights posing a risk to the U.S. economy, however, the ...
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