The U.S. trade deficit with its global partners contracted to $52.5 billion in September as the White House continued its efforts to close the gap in goods and services, according to a Commerce Department report Tuesday. The deficit was slightly above expectations of $52.2 billion, according to economists surveyed by Dow Jones. August’s shortfall was […]
U.S. consumer confidence dipped slightly in October as worries over business conditions and employment prospects ticked up, according to data from The Conference Board released Tuesday. The Conference Board’s consumer confidence index slipped to 125.9 this month from a September reading of 126.3. Economists polled by Dow Jones expected a print of 128.
US employment was more resilient than expected in October despite the impact of strike action at General Motors. Companies added 128,000 new jobs, ahead of a forecast 85,000 rise, during a month when thousands of workers walked out at the carmaker. The unemployment rate edged up slightly to 3.6% from 3.5% in September, which had […]
America’s gross domestic product grew at 1.9% in the third quarter, a slight decrease from the previous quarter’s 2% growth. Consistent consumer spending, federal and state government spending and improvement in the housing market offset a decline in business and private investments, according to a report from the Bureau of Economic Affairs.
Manufacturing made up 11% of gross domestic product in the second quarter, the smallest share in data going back to 1947 and down from 11.1% in the prior period, a Commerce Department report showed Tuesday. Figures before 2005 were for full years only.
U.S. factory output slumped 0.5% in September, as a strike at General Motors caused a steep decline in auto production amid broader struggles for manufacturers. The Federal Reserve said Tuesday that manufacturing production has fallen 0.9% over the past 12 months, a reflection of the disruptions and uncertainties caused by the U.S.-China trade war. The […]
U.S. consumer prices were unchanged in September and underlying inflation retreated, supporting expectations the Federal Reserve will cut interest rates in October for the third time this year amid risks to the economy from trade tensions.
The advancements in artificial intelligence will require a national strategy that ensures workers are able to adapt to sweeping changes, two members of Congress active in this national debate said Oct. 16. “Creating a national strategy would better prioritize limited government resources and more rapidly advance American [artificial intelligence] technology,” said Rep. Will Hurd (R-Texas), […]
In an effort to determine how the trade war, and in particular how price increases, will impact spending habits approaching the holiday seas, JDA software surveyed over 1,000 U.S. consumers. The survey uncovered the following five consumer perceptions and forward-looking plans in response to the ongoing tariffs:
The number of job openings nationwide fell in August for the third straight month and hit a one-and-a-half-year low, coinciding with a decline in hiring that’s taken place against the backdrop of a slowing U.S. economy. Job openings slipped to 7.05 million in August from 7.17 million in the prior month.
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