The U.S. producer price index (PPI), which tracks changes in wholesale prices, rose at an annual rate of 6.3 percent in September and climbed 1.3 percent from August, the Bureau of Labor Statistics (BLS) reported.
Tag: U.S. Economy
Post
RETAIL SALES SLOWED IN SEPTEMBER
Retail sales grew by 0.8 percent last month in dollar volume, slowing from August’s 1.3-percent expansion. Economists in a Wall Street Journal poll expected only half that much of an increase.
Post
U.S. INFLATION SPED UP TO 3.7 PERCENT IN SEPTEMBER
The rise in U.S. consumer prices accelerated at an annual rate of 3.7 percent in September as the Iran War’s energy price continued to pick consumers’ pockets.
Post
OPENAI REPORTS REVENUE 20 PERCENT BELOW TARGET
AI flagship lab OpenAI has booked revenue at an annualized rate of about $50 billion so far this year, according to public documents it has filed.
Post
HIGHER INTEREST RATES DEVALUE TECH STOCKS
n the stock market, the valuation multiple is a measure of how investors see a company’s future. The multiple is the price investors are willing to pay for each dollar a company earns.
Post
U.S. MORTGAGE RATE NEARS 7.5 PERCENT
During the week ending 2 October, the interest rate on a 30-year, fixed-rate mortgage reached 7.49 percent, rising from 7.28 percent the week before and climbing to its highest since November 2023, the Mortgage Bankers Association (MBA) reported.
Post
STIFFER BORROWING COSTS HARM CORPORATE BORROWING PLANS
This month, U.S. companies with the lowest credit rating saw their borrowing costs rise as high as 17 percent as lenders willing to take the risk command premiums higher than at any time since May 2020 at the onset of the COVID War.
Post
CONSUMERS’ OUTLOOK DARKENED AGAIN THIS MONTH
Households’ view of current economic conditions slumped to an all-time low in the University of Michigan’s most recent bimonthly survey of consumer sentiment.
Post
FEDERAL BUDGET ENDS FISCAL YEAR WITH A $2-TRILLION DEFICIT
The U.S. budget year ended 30 September, with the year’s budget hole deepening to $1.993 trillion, 12 percent worse than the previous year and the most since the 2021 year that included large amounts of COVID-related spending, the Congressional Budget Office (CBO) reported.
Post
ALMOST 20 PERCENT OF U.S. HOUSEHOLDS ARE LATE ON PAYMENTS
Nearly one American household in every five was behind in paying at least one bill when this year began, according to a U.S. Federal Reserve study published on 9 October. In 2022, the proportion was 12 percent.