The U.S. GDP expanded by 1.5 percent across April, May, and June, falling far short of the first quarter’s 2.1-percent growth and missing analysts’ expectations in a Bloomberg survey of a 2-percent bump.
Tag: U.S. Economy
Post
ECONOMIC UPDATE
What a difference a day makes. Last week, as he has said scores of times, President Trump threatened that if Iran did not agree to a ceasefire deal, it would be bombs away saying, “We were going to hit them very hard.”
Post
U.S. GROCERY PRICES UP 33 PERCENT SINCE 2018
U.S. grocery prices have risen by a third in the past seven years, the Bureau of Labor Statistics (BLS) reported.
Post
MARKET OVERVIEW
Last week’s renewed fighting along the Persian Gulf boosted oil prices, leaving investors uncertain.
Post
THE NEW RICH REDEFINE LUXURY SPENDING
In the past, old wealth spent big on five-figure dresses and Coach leather goods.
Post
U.S. TECH COMPANIES HAVE DUMPED 140,000 WORKERS THIS YEAR
U.S. tech companies, large and small, have laid off about 140,000 workers so far this year as spending on AI infrastructure is approaching $1 trillion.
Post
HIGH INTEREST RATES DAMPEN U.S. HOUSING MARKET
The average U.S. interest rate on a 30-year, fixed-rate mortgage was 6.58 percent last week, rising from 6.55 percent the previous week, reaching the highest that the Federal Home Loan Mortgage Corp. has recorded this year.
Post
AMERICA’S “NILFS” REACHED A RECORD NUMBER IN JUNE
U.S. adults “not in the labor force” (NILFs) numbered 105.8 million, the most on record, according to the Federal Reserve Bank of St. Louis.
Post
INVESTORS YANK RECORD AMOUNT OF CASH FROM HIGH-GRADE BONDS
During the week ending 22 July, investors pulled a net $7.1 billion out of investment-grade bond funds, the largest weekly cash outflow on record, data service LSEG Lipper reported.
Post
U.S. REFINERIES RUNNING AT CAPACITY AS OIL RESERVES SHRINK
Across the U.S., oil refineries are running at 96 percent of capacity, with those in the Midwest and Rocky Mountain regions operating at 100 percent, the U.S. Energy Information Administration reported last week.