U.S. economy slowed to better-than-expected 1.9 percent in third quarter
Economists had been forecasting a much bigger slowdown with fears that gross domestic product could slump to 1.4% or less given a number of headwinds.
Economy
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Brexit deal has been reached, say E.U., U.K. leaders
Negotiators working through the night in Brussels came to an agreement Thursday morning after Prime Minister Boris Johnson signed on despite lingering questions about warring Brexit factions in London. The agreement would still need approval by European leaders and the British Parliament.
U.S. consumer borrowing shows $17.9B August increase
Consumer borrowing increased at a solid pace in August, helped by the biggest jump in auto and student loans in three years.
Business economists foresee slowdown in U.S. growth
The nation’s business economists think President Donald Trump’s trade war with China will contribute to a sharp slowdown in economic growth this year and next, raising concerns about a possible recession starting late next year.
U.S. unemployment hits 50-year low as employers add 136K jobs
All told, the September jobs report is likely to keep the Federal Reserve on track to cut interest rates later this month for the third time this year to try to help sustain the expansion.
U.S. jobs report should offer clues to state of economy
With signs of a weakening economy spreading and financial markets gyrating, Friday’s monthly jobs report will be watched for any evidence that the turmoil might be threatening the critically important U.S. job market.
U.S. manufacturing sector falls into deeper recession
September marked the worst month for U.S. manufacturing in more than a decade—since June 2009—according to the closely watched Institute for Supply Management’s Manufacturing Index.
Gap between rich, poor in U.S. expands to historic size
In the midst of the longest economic expansion the United States has ever seen, the separation between rich and poor from 2017 and 2018 reached its highest level since the Census Bureau started tracking it in 1967.
U.S. economy slows in second quarter to 2% growth
The April-June increase in the gross domestic product, the economy’s total output of goods and services, slipped from a brisk 3.1% gain in the first quarter.
U.S. consumer confidence drops as economic uncertainties rise
The trade war with China and a global slowdown have contributed to uncertainties that are clouding the outlook for the U.S. economy, now in its 11th year of expansion.
Saudi oil attack could push gas prices up 25 cents, expert says
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.
U.S. retail sales show solid increase as auto-buying jumps
Figures released Friday showed August retail sales advanced more than forecast, while consumer sentiment rebounded from an almost three-year low.
U.S. household income hits 1999 peak; poverty rate lowest since 2001
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.
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.
U.S. added slightly fewer jobs than expected in August
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.
Indicators in U.S. jobs market warn of possible weakness ahead
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.
Survey shows solid monthly job growth for companies of all sizes
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.
Optimistic U.S. consumers boosted spending 0.6% in July
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.
U.S. orders for long-lasting goods show 2.1% July increase
Orders for transportation equipment powered the overall gain, rising 7%, the category’s strongest month in almost a year.
U.S. Steel expects 150 layoffs by idling Indiana plant
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.