The economic slowdown is for all to see. Holiday sales are weaker than expected, job openings are dropping and as the data shows, firings are increasing. Welcome to week 64 of the job loss trend.
Category: 5 December 2023
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PENDING HOME SALES CRASH TO RECORD LOW
Homes under signed contracts for sale slipped 1.5 percent in October from September as the traditional home-buying season ended, the National Association of Realtors (NAR) reported.
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CONSUMERS GIVE RETAILERS A LUMP OF COAL FOR THE HOLIDAYS
Initial reports show that consumers spent more than last year over the frenzied “Black Friday” shopping weekend following the Thanksgiving holiday, but only because prices were higher, The Wall Street Journal reported.
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HEALTHCARE LEADS U.S. JOB GROWTH
Thirty percent of new jobs created in the U.S. in the six months through 31 October were in healthcare, the Labor Department reported.
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MOBILE BATTERY POD RECHARGES WITH A KITE
Kitepower, a spin-off from the Netherlands’ Delft University of Technology, is marketing something called The Hawk, a bank of batteries packed into a mobile shipping container and that is recharged by flying a kite.
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THIRD-QUARTER GROWTH ESTIMATE REVISED UPWARD
In this year’s third quarter, the U.S. economy grew by a robust 5.2 percent, adjusted for inflation, not the 4.9-percent clip estimated earlier, the Commerce Department said in a statement.
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ELECTRIC NANOCURRENT KILLS CANCER CELLS
Glioblastoma is a particularly virulent form of cancer that typically kills its victims within 12 months of being diagnosed because it’s so hard to treat.
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U.S. MANUFACTURING SLOWED AGAIN IN NOVEMBER
U.S. factory output has been contracting for 13 consecutive months, the Institute for Supply Management (ISM) said in announcing its Purchasing Managers Index (PMI) for November.
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AN EV MOTOR FREE OF RARE EARTH METALS
Among electric vehicles’ (EVs’) various supply issues, one sticky one is the need for rare earth metals in the permanent magnets that make their motors spin.
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INVESTORS DIVE BACK INTO RISKIER ASSETS
Believing that inflation has been tamed and interest rates will not rise further, investors are piling back into global stocks, which had been seen as risky as long as the dollar was strong and U.S. interest rates continued to rise.