Should the recovery take weeks or months, the impact could be far-reaching. Higher fuel prices can not only motivate consumers to cut spending elsewhere but also ultimately reach into virtually every corner of the economy.
IBJ Podcast: Pete The Planner on how to prepare for the next recession
Pete the Planner talks to host Mason King about how to look at your budget and evaluate your readiness for a recession, and he offers advice about the kinds of changes that can help. Plus, he explains why you’re making a mistake if you try to time the market’s ups and downs.Read More
Figures released Friday showed August retail sales advanced more than forecast, while consumer sentiment rebounded from an almost three-year low.
Government figures show that after more than a decade of economic growth—the longest expansion on record—Americans are finally earning what they did two decades ago once inflation is taken into account.
The Labor Department’s monthly jobs report showed that the unemployment rate remained 3.7%, near the lowest level in five decades. And average hourly pay rose 3.2% from a year earlier, outpacing inflation and lifting Americans’ spending power.
Two key indicators—hiring for temporary-help positions and weekly working hours—have declined this year even as unemployment has remained near a half-century low.
U.S. businesses added a healthy 195,000 jobs last month, a sign companies are still hiring at a brisk pace despite the ongoing trade war with China.
U.S. consumer spending grew 0.6% in July, a healthy gain that suggests American shoppers are largely ignoring concerns about trade tensions and driving the economy forward.
Orders for transportation equipment powered the overall gain, rising 7%, the category’s strongest month in almost a year.
The Pittsburgh-based company says the East Chicago plant was underutilized because low-priced imports have captured roughly half of the U.S. tin products market.
President Donald Trump on Friday called on U.S. companies with operations in China to consider an alternative place to do business after Beijing announced a series of retaliatory tariffs Friday.
Bigger cracks are forming across America’s manufacturing foundation after lackluster global demand and persistent trade tensions led to the first contraction in U.S. factory activity since September 2009.
President Donald Trump said Tuesday his aggressive China trade policies might mean economic pain for Americans but insisted they’re needed for more important long-term benefits.
The White House has, in recent days, sought to exude confidence about the economy’s strength while at the same time hunting for ways to bolster business and consumer confidence.
The economists surveyed were skeptical about prospects for success of the latest round of U.S.-China trade negotiations. Only 5% predicted that a comprehensive trade deal would result.
Companies banged up during the Great Recession a decade ago have been preparing for the next slowdown by keeping workforces lean, adding technology and avoiding excessive debt.
Most analysts expect the U.S. economy to power through the rough patch, at least in the coming months, on the strength of solid consumer spending and a resilient job market.
Online retailers, grocery stores, clothing retailers and electronics and appliance stores all reported strong gains.
The yield on the 10-year Treasury briefly dropped below the two-year Treasury’s yield Wednesday morning for the first time since 2007. The so-called inversion has correctly predicted many past recessions.