Natron Energy, a $300-million startup developing a novel battery technology based on sodium, has announced plans to build its first commercial-scale factory, a $1.4-billion project in North Carolina.
Category: TRENDS ON THE U.S. ECONOMIC FRONT – Aug 20 2024
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SURGING POWER DEMAND REVIVES U.S. COAL, GAS INDUSTRIES
Data centers that power artificial intelligence (AI) are spiking demands for electricity and are projected to double 2022’s U.S. electricity demand before 2027.
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RETAIL SALES GREW BY 1 PERCENT IN JULY
July’s 1-percent expansion in the U.S. retail economy was the largest month-to-month gain since early 2023, the commerce department reported, even as consumers coped with high interest rates and rising prices.
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UNEMPLOYMENT CLAIMS ARE FEWEST SINCE MID-JULY
During the week ending 10 August, new weekly claims for U.S. unemployment benefits decreased by 7,000 to reach 227,000, the fewest in the past month.
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INFLATION DROPS BELOW 3 PERCENT FOR FIRST TIME IN THREE YEARS
The U.S. Consumer Price Index rose at an annual pace of 2.9 percent in July, falling from 3.0 percent in June and sliding below 3 percent for the first time since 2021, the Bureau of Labor Statistics (BLS) reported.
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ECONOMIC UPDATE—MARKET OVERVIEW
While the equity markets keep going up, the global economy, as we report with factual data in this and previous Trends Journals, keeps going down.