The wave of job cuts continues to spread across industries, underscoring the growing economic uncertainty facing businesses worldwide.
Tag: U.S. Economy
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CONSUMER SENTIMENT CREEPS HIGHER IN JUNE
Americans’ feelings about the U.S. economy brightened slightly in late June, according to the University of Michigan’s twice-monthly survey of consumer sentiment.
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U.S. INFLATION HIGHEST IN THREE YEARS
The Personal Consumption Expenditures Price Index (PCE), the U.S. Federal Reserve’s preferred measure of inflation, rose 0.3 percent in May from April, registering a yearly increase of 4.1 percent, its highest since October 2023.
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U.S. ECONOMY GREW 2.1 PERCENT IN FIRST QUARTER
The U.S. economy expanded by 2.1 percent in this year’s first three months, the commerce department said in its final revised calculation. An earlier estimate had put the figure at 1.6 percent.
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ECONOMIC UPDATE
As we keep noting, and now it is finally being recognized by the “experts” of the mainstream media world, prepare for our Dot.com Bust 2.0 that even they admit, may well be on the near horizon.
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MARKET OVERVIEW
A Thursday bounce in semiconductor stocks brought the market back from a selloff on Wednesday after the U.S. Federal Reserve’s rate-setting committee indicated a growing likelihood of an interest rate increase this year.
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CREDIT CARD BLUES
Economists have been alarmed that 13 percent of U.S. credit card accounts were at least 90 days past due in this year’s first quarter, near the peak of delinquencies during the Great Recession.
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GM LETS EV OWNERS SELL POWER BACK TO THE GRID
General Motors is preparing to download a software update to some of its electric vehicles (EVs) that will enable their owners to direct power from the cars’ battery packs back into the electric grid.
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FED LEAVES RATES UNCHANGED, DITCHES HINT OF FUTURE RATE CUTS
The U.S. Federal Reserve’s Open Market Committee voted unanimously last week to leave its key interest rates where they are, at 3.50 percent for savings and 3.75 percent for loans.
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RETAIL SALES RISE AS SHOPPERS SPEND THEIR FAT TAX REFUNDS
In May, U.S. retail sales climbed 0.9 percent above those in April and 6.9 percent year on year as tax refunds averaging $3,500 put money in consumers’ pockets.