According to the U.S. Department of Commerce, retail sales fell 0.6% in November, the largest decline in 11 months. Analysts had expected a 0.1% decline, following a 1.3% increase in October. Retail sales have been affected by inflation, which has led to an increase in goods prices, while savings have declined amid a weak economic …
U.S. retail sales fell more than expected in November Read More »
According to the Federal Reserve, total industrial production in the U.S. fell 0.2% in November after falling 0.1% in October. Overall industrial production measures the change in output of the manufacturing, mining and utilities sectors. Manufacturing production fell 0.6% in November, while analysts had expected a 0.1% decline, after rising 0.3% in October. Mining output …
Industrial production decreased by 0.2% in November Read More »
According to the U.S. Department of Commerce, business inventories rose 0.3% in October from the previous month. However, it was below analysts’ expectations of 0.4% after rising 0.2% in September. On a year-over-year basis, business inventories are up 16.5% in October. Retail inventories fell 0.2%, while wholesale inventories rose 0.5%. In addition, it takes a …
U.S. business inventories were lower than expected in October Read More »
According to the U.S. Bureau of Labor Statistics, the import price index fell for the fifth consecutive month in November. This was due to the decline in energy prices, including the appreciation of the dollar, and supports the view that inflation has peaked. The import price index declined 0.6% in November after falling 0.4% in …
U.S. import price index falls for 5th month as inflation peaks Read More »
The U.S. government plans to blacklist Yangtze Memory Technologies, a Chinese manufacturer of memory semiconductors, and other Chinese companies to prevent them from buying U.S. technology products. The U.S. Department of Commerce plans to add Yangtze Memory Technologies and 35 other Chinese companies to its entity list as earlier as this week. Blacklisted companies cannot …
U.S. plans to put more than 30 Chinese companies on the trade blacklist Read More »
The U.S. Treasury Department reported Monday (Dec. 12) that the U.S. budget deficit rose $57 billion, or 30%, to $249 billion in November from a year earlier. This was a record high for November as income fell and spending on education, health care and interest rates on the national debt soared. Revenues fell 10%, or …
U.S. budget deficit rises sharply in November due to lower revenues and higher spending Read More »
According to the U.S. Department of Commerce, wholesale inventories rose 0.5% in October from the previous month. However, this was below analysts’ expectations of 0.8% after rising 0.6% in September. On a year-over-year basis, wholesale inventories rose 21.9% in October. Wholesale sales rose 0.4% after increasing 0.1% in September. In addition, it takes a business …
U.S. wholesale inventories were up 0.5% in October Read More »
According to a University of Michigan survey, the consumer sentiment index rose to 59.1 in December, beating analysts’ expectations of 56.9 after reaching 56.8 in November. At the same time, consumers expect inflation to reach 4.6% over the next year, the lowest level in 15 months and lower than last month’s 4.9%. Over the next …
University of Michigan survey shows an increase in consumer sentiment in December Read More »
According to the Labor Department, initial jobless claims rose by 4,000 last week to a seasonally adjusted 230,000, in line with analysts’ forecasts. The 4-week average of the number of Americans filing for unemployment benefits for the first time is a better gauge of the labor market. It ironed out the weekly volatility. It rose …
Increase in Initial Jobless Claims in the U.S. in Line with Expectations Read More »
The Mortgage Bankers Association (MBA) reported that the number of mortgage loan applicants fell 1.9% last week, even though the mortgage rate fell. The number of applicants for a refinance loan increased 5% last week, but is down 86% year over year. Home loan applicants fell 3% last week, down 40% from the same period …