On 2 December, the U.S. average price of a gallon of regular unleaded gasoline was $3.43, data service OPIS reported, almost a third less than highs of $5 or more reached in June.
Category: TRENDS ON THE U.S. ECONOMIC FRONT – Dec 6 2022
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U.S. HEATING COSTS COULD SOAR THIS WINTER, EIA WARNS
Homes heating with natural gas this winter could see their energy bills leap up 25 percent compared to last year, while those using heating oil could experience a staggering 45-percent rise in costs, the U.S. Energy Information Administration (EIA) predicted.
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U.S. CONSUMERS: BUY MORE, SAVE LESS
U.S. consumers spent 0.8 percent more on goods and services in October than in September, the U.S. commerce department reported.
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ECONOMIC OUTPUT, JOB NUMBERS GROW MORE THAN EXPECTED
The U.S. GDP grew by 2.9 percent in this year’s third quarter, the U.S. commerce department reported, beating the 2.6 percent analysts had widely predicted.
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ECONOMIC UPDATE – MARKET OVERVIEW
Near the close of U.S. equity markets yesterday, CNBC wrote, “Stocks fell Monday on fears the Federal Reserve may continue tightening until it steers the economy into recession.”