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U.S. consumer confidence hits 18-year high
U.S. consumer confidence rose in October to an 18-year high amid optimism about jobs and the economy, according to figures Tuesday from the New York-based Conference Board. The results, coming amid a rout in U.S. stocks, bode well for continued gains in consumer spending, which accelerated in the third quarter to the best pace since 2014. For more, click here...
10/30/2018


U.S. economy grew at 3.5% pace in 3Q, faster than expected
The U.S. economy grew at a faster-than-expected rate in the third quarter as inflation was kept in check and consumer spending surged, according to data released by the Commerce Department on Friday. Gross domestic product expanded by a 3.5% annual rate. Economists polled by Dow Jones expected the economy to expand by a 3.4% annual rate. For more, click here...
10/26/2018


Consumer sentiment slips in October reading
Consumer sentiment for October was weaker than anticipated in the latest survey result, although the index remained near historically high levels. The University of Michigan's monthly survey of consumers hit 98.6 in the final reading of October, below the 99 expected by economists surveyed by Refinitiv. The key economic indicator hit 100.1 in September's final reading. For more, click here...
10/26/2018


October consumer sentiment falls shy of expectations
A survey of consumer sentiment in October fell just short of expectations on Friday, but found American confidence in U.S. economic policy was at a 15-year high. The University of Michigan's monthly survey of consumers hit 99 in its preliminary reading for October, below the 100.4 expected from economists polled by Reuters. The index remained just below September's reading of 100.1. For more, click here...
10/12/2018


Consumer sentiment in U.S. rose to six-month high in September
U.S. consumer sentiment rose to a six-month high in September and is near the highest level since 2004, the latest sign of growing confidence in the economy, a University of Michigan report showed Friday. For more, click here...
9/28/2018


U.S. GDP growth unrevised in 2Q at 4.2%
U.S. economic growth accelerated in the second quarter at its fastest pace in nearly four years as previously estimated, putting the economy on track to hit the Trump administration’s goal of 3% annual growth. Gross domestic product increased at a 4.2% annualized rate, the Commerce Department said on Thursday in its third estimate of GDP growth for the April-June quarter. That was the fastest pace since the third quarter of 2014 and unchanged from the estimate published in August. For more, click here...
9/27/2018


Fed raises rates, sees at least 3 more years of economic growth
The Federal Reserve raised interest rates Wednesday, as expected, and forecast three more years of economic growth as the U.S. central bank left its policy for steady rate rises in place. In a statement that marked the end of the era of accommodative monetary policy, Fed policymakers lifted the benchmark overnight lending rate by a quarter of a percentage point to a range of 2.00% to 2.25%. For more, click here...
9/26/2018


Consumer confidence surges to 18-year high
Consumer confidence is at its highest level since 2000. The Consumer Confidence Index reached 138.4, exceeding average analyst estimates of 132.1, the Conference Board reported Tuesday. The previous revised confidence index was 134.7 for August. For more, click here...
9/25/2018


U.S. pushes forward with tariffs on Chinese imports
The U.S. will impose a 10% tax on roughly $200 billion worth of goods imported from China, effective September 24. The tax will rise to 25% at the end of the year, President Trump announced September 17. Chinese government officials said they will impose retaliatory tariffs. The announced tariffs include all softwood lumber. The U.S. tariffs include about $10 billion worth of goods used in the country's residential building sector.
9/18/2018


U.S. consumer sentiment rises to six-month high
U.S. consumer sentiment jumped more than forecast in September to a six-month high as Americans grew more optimistic about the economy and their purchasing plans, according to a University of Michigan report Friday. For more, click here...
9/14/2018


U.S. consumer prices increase less than expected in August
U.S. consumer prices rose less than expected in August as increases in gasoline and rents were offset by declines in healthcare and apparel costs, and underlying inflation pressures also appeared to be slowing. The Labor Department said on Thursday its Consumer Price Index increased 0.2% last month after a similar gain in July. In the 12 months through August, the CPI increased 2.7%, slowing from July's 2.9% rise. For more, click here...
9/13/2018


U.S. consumer sentiment falls to seven-month low
U.S. consumer sentiment fell to a seven-month low in August as households worried about rising prices amid a robust economy and tensions between the United States and its main trade partners. The University of Michigan on Friday said its consumer sentiment index fell to a reading of 96.2 at end of August. While that was an improvement from 95.3 early in the month, it was the lowest reading since January and was down from 97.9 in July. The survey’s current conditions sub-index of consumer expectations dropped to 110.3 from July’s reading of 114.4. For more, click here...
8/31/2018


U.S. GDP growth raised to 4.2% in 2Q
U.S. economic growth was a bit stronger than initially thought in the second quarter, notching its best performance in nearly four years and putting the economy on track to hit the Trump administration’s goal of 3% annual growth. Gross domestic product increased at a 4.2 % annualized rate, the Commerce Department said on Wednesday in its second estimate of GDP growth for the April-June quarter. That was slightly up from the 4.1% pace of expansion reported in July and was the fastest rate since the third quarter of 2014. For more, click here...
8/29/2018


U.S. consumer confidence surges to 18-year high
Consumer confidence rose in August to its highest level since October 2000, building on July's solid result. The Conference Board's index rose to 133.4 in August, despite expectations from a survey of Reuters' economists that it would fall to 126.7. The measure rose slightly last month to 127.4, up from 127.1 in June as consumers reported better feelings toward the economy in the near-term but less optimism about long-term growth. For more, click here...
8/28/2018


U.S. consumer sentiment declines to lowest level in nearly a year
U.S. consumer sentiment unexpectedly fell to the lowest level in almost a year amid less favorable views on purchasing big-ticket items and persistent concerns about trade tensions, a University of Michigan report showed Friday. For more, click here...
8/17/2018


Core inflation reading jumps most since 2008
U.S. consumer prices rose in July and the underlying trend continued to strengthen, pointing to a steady increase in inflation pressures that keeps the Federal Reserve on track to gradually raise interest rates. The Labor Department said on Friday its Consumer Price Index advanced 0.2%, the bulk of which was due to a rise in the cost of shelter. The CPI rose 0.1% in June. For more, click here...
8/10/2018


Consumer confidence rises above expectations in July
Consumer confidence gained more than expected in July, but consumers remained concerned about future economic growth. The Confidence Board's index increased to 127.4 in July, beating an estimated 126.5 by Reuters economists. The index was up from a disappointing revised reading of 127.1 in June, sunken by lower income prospects. For more, click here...
7/31/2018


U.S. GDP jumps 4.1% in second quarter
Gross domestic product grew at a solid 4.1% pace in the second quarter, its best pace since 2014, boosting hopes that the economy is ready to break out of its decade-long slumber. The number matched expectations from economists surveyed by Reuters and was boosted by a surge in consumer spending and business investment. Stock market futures edged lower on the news while government bond yields moved lower. For more, click here...
7/27/2018


Consumer sentiment slips in July
U.S. consumer sentiment slipped last month, pressured by rising fears over the repercussions of escalating tariffs. Sentiment among consumers fell to 97.9 in July from 98.2 in June, according to the University of Michigan's monthly survey of consumers. The decline resulted from fears over the impact of tariffs on the domestic economy. For more, click here...
7/27/2018


U.S. consumer sentiment decreases amid tariff concerns
Reflecting concerns about the potential impact of tariffs, the University of Michigan released a report on Friday showing an unexpected deterioration in U.S. consumer sentiment in the month of July. The preliminary report said the consumer sentiment index dipped to 97.1 in July from the final June reading of 98.2. Economists had expected the index to come in unchanged. For more, click here...
7/13/2018


Inflation jumps 2.9%, largest gain in 6 years
Consumer prices rose in June from a year earlier at the fastest pace in more than six years, lifted by more expensive gas, car insurance, and higher rent. The Labor Department said Thursday that the consumer price index ticked up just 0.1% in June. But inflation jumped 2.9% from a year earlier, the largest annual gain since February 2012. For more, click here...
7/12/2018


U.S. GDP slowed more than expected in 1Q
The U.S. economy slowed more than previously estimated in the first quarter amid the weakest performance in consumer spending in nearly five years, but growth appears to have since regained momentum on the back of a robust labor market and tax cuts. Gross domestic product increased at a 2.0% annual rate in the January-March period, the Commerce Department said on Thursday in its third estimate of first-quarter GDP, instead of the 2.2% pace it reported last month. For more, click here...
6/28/2018


U.S. consumer confidence declines in June
U.S. consumer confidence declined in June as Americans pared expectations about the economy and incomes, according to figures Tuesday from the New York-based Conference Board. The group’s index fell to 126.4 from an upwardly revised 128.8 in May. That compares with the median estimate of 128 from economists surveyed by Bloomberg News. Sentiment on the present situation was little changed, while the expectations index fell to 103.2, the lowest this year, from 107.2.
6/26/2018


Consumer sentiment rises to highest level in 3 months
Consumer sentiment jumped at the beginning of June, moving opposite of expectations and heading back toward levels seen earlier this year. The University of Michigan's Friday report on consumer attitudes about the economy hit 99.3 in a preliminary June reading, higher than the 98.3 expected by a survey of Reuters economists. The index was more than a point above May's reading of 98 and rose to its highest level since hitting 101.4 in March. For more, click here...
6/15/2018


Fed raises rates amid stronger inflation
The Federal Reserve raised interest rates Wednesday, a move that was widely expected but still marked a milestone in the U.S. central bank's shift from policies used to battle the 2007-09 financial crisis and recession. In raising its benchmark overnight lending rate a quarter of a percentage point to a range of between 1.75% and 2%, the Fed dropped its pledge to keep rates low enough to stimulate the economy "for some time" and signaled it would tolerate above-target inflation at least through 2020. For more, click here...
6/13/2018


Consumer prices post biggest increase in 6 years
U.S. consumer prices rose marginally in May amid a slowdown in increases in the cost of gasoline and the underlying trend continued to suggest moderate inflation in the economy. The Labor Department's inflation report was published ahead of the start of the Federal Reserve's two-day policy meeting on Tuesday. Steadily rising inflation and a tightening labor market are expected to encourage the U.S. central bank to raise interest rates for a second time this year on Wednesday. The Consumer Price Index increased 0.2% last month, also as food prices were unchanged. That followed a similar gain in the CPI in April. In the 12 months through May, the CPI increased 2.8%, the biggest advance since February 2012, after rising 2.5% in April. For more, click here...
6/12/2018


First-quarter U.S. GDP slows to 2.2%
U.S. economic growth slowed slightly more than initially thought in the first quarter amid downward revisions to inventory investment and consumer spending, but income tax cuts are likely to boost activity this year. Gross domestic product increased at a 2.2% annual rate, the Commerce Department said in its second estimate of first-quarter GDP on Wednesday, instead of the previously reported 2.3% pace. The economy grew at a 2.9% rate in the fourth quarter. For more, click here...
5/30/2018


Consumer confidence bounces back in May
American consumers were feeling more a bit more optimistic in May following a slight decline in confidence in April. The May reading matched Reuters' estimates at 128, an increase from 125.6 in April. Consumers' assessment of current conditions improved, showing better attitudes toward business conditions. This follows 127 reported in March and 130 in February's 130.0, the highest reading in 18 years. For more, click here...
5/29/2018


Consumers expect smaller gains in income
U.S. consumer sentiment came in weaker than expected on Friday in the final reading of May. The University of Michigan's survey of consumer attitudes reached 98 in the latest reading. Economists surveyed by Reuters expected it to hit 98.8, the same from a month earlier. "The May survey, however, found that consumers anticipated smaller income gains than a month or year ago, even though they anticipate the unemployment rate to stabilize at its current 18-year low," chief economist Richard Curtin said in a statement. For more, click here...
5/25/2018


Fed keeps key interest rate unchanged
The Federal Reserve held interest rates steady Wednesday and expressed confidence that a recent rise in inflation to near the U.S. central bank's 2% target would be sustained, leaving it on track to raise borrowing costs in June. The Fed's rate-setting committee also downplayed a recent slowdown in economic and job growth, saying that activity had been expanding at a moderate rate and job gains, on average, had been strong in recent months. For more, click here...
5/2/2018


U.S. consumer sentiment exceeds forecast
U.S. consumer sentiment exceeded estimates in April on Americans’ increasingly favorable views of their finances, University of Michigan survey data showed Friday. While the decline reflected negative sentiment about the effect of tariffs on the economy, consumers remained upbeat about their financial situation, partly a reflection of the recent tax legislation, according to the University of Michigan. For more, click here...
4/27/2018


First-quarter GDP up 2.3%
The U.S. economy slowed in the first quarter as consumer spending grew at its weakest pace in nearly five years, but the setback is likely temporary against the backdrop of a tightening labor market and large fiscal stimulus. Gross domestic product increased at a 2.3% annual rate, the Commerce Department said in its snapshot of first-quarter GDP on Friday, also held back by a moderation in business spending on equipment and investment in home building. For more, click here...
4/27/2018


U.S. consumer confidence rebounds in April
An index of U.S. consumer attitudes increased in April, recovering from a fall in March. The Conference Board's measure of consumer confidence increased to 128.7 in April, up from 127 the prior month. For more, click here...
4/24/2018


Consumer sentiment survey falls to 3-month low
The University of Michigan’s consumer sentiment index in April fell to a reading of 97.8, down from 101.4 in March. Economists polled by MarketWatch expected a reading of 101. The index of current economic conditions fell to 115 from 121.2, while the expectations index declined to 86.8 from 88.8. For more, click here...
4/13/2018


U.S. consumer prices post first drop in 10 months
U.S. consumer prices fell for the first time in 10 months in March, weighed down by a decline in the cost of gasoline, but underlying inflation continued to firm amid rising prices for healthcare and rental accommodation. The drop in the headline monthly inflation reading reported by the Labor Department on Wednesday is likely temporary, with producer prices increasing solidly in March. For more, click here...
4/11/2018


U.S. consumer sentiment hits highest level since 2004
U.S. consumer sentiment slipped slightly at the end of March, after shooting up in the mid-month preliminary report, but still recorded its highest level since 2004. The University of Michigan's report showed consumer attitudes about the economy inched down to a reading of 101.4 at the end of March. Reuters economists expected the reading to remain at 102, the same as mid-March, when the index shot up from 99.7 at the end of February. For more, click here...
3/30/2018


Canada's GDP unexpectedly shrank in January
Canada’s gross domestic product unexpectedly shrank in January, as the economy faces a broad slowdown after surging last year. GDP contracted 0.1% during the month, Statistics Canada reported Thursday in Ottawa, weighed down by sharp declines in oil production and real estate. Economists anticipated a 0.1% gain. For more, click here...
3/30/2018


Final reading on U.S. GDP is up 2.9% in 4Q
U.S. economic growth slowed less than previously estimated in the fourth quarter as the biggest gain in consumer spending in three years partially offset the drag from a surge in imports. Gross domestic product expanded at a 2.9% annual rate in the final three months of 2017, instead of the previously reported 2.5%, the Commerce Department said in its third GDP estimate for the period on Wednesday. That was a slight moderation from the third quarter's brisk 3.2% pace. For more, click here...
3/28/2018


Consumer confidence eases for first time in 2018
U.S. consumer confidence declined in March for the first time this year on tempered optimism about the outlook for the economy, according to figures Tuesday from the New York-based Conference Board. The softening in March reflected smaller shares of respondents who expect better business conditions, higher incomes and more job availability in the next six months. Fewer also said they anticipate stock prices will be higher in the year ahead. For more, click here...
3/27/2018


Federal Reserve raises key interest rate
The Federal Reserve raised its key interest rate Wednesday in a vote of confidence in the U.S. economy's durability while signaling that it plans to continue a gradual approach to rate hikes for 2018 under its new chairman, Jerome Powell. The Fed said it expects to raise rates twice more this year. And it increased its estimate for rate hikes in 2019 from two to three, reflecting more optimistic expectations for growth and low unemployment. In a statement after its latest policy meeting, the Fed said it boosted its key short-term rate by a modest quarter-point to a still-low range of 1.5% to 1.75%. For more, click here...
3/21/2018


Consumer sentiment rises to highest level since 2004
U.S. consumer sentiment rose more than anticipated in the preliminary March reading, reaching a level not seen since 2004. The University of Michigan's mid-month report on consumer attitudes rose to 102 in March, its highest level since 2004. Reuters economists expected the reading to only reach 99.3 from the previous month's reading of 99.9. For more, click here...
3/16/2018


U.S. consumer price growth slows
U.S. consumer price growth slowed in February amid a decline in gasoline prices and a moderation in the cost of rental accommodation, the latest indication that an anticipated pickup in inflation probably will be only gradual. The Labor Department said on Tuesday its Consumer Price Index rose 0.2% last month after jumping 0.5% in January. In the 12 months through February, the CPI rose 2.2%, up from 2.1% in January as the weak reading from last year dropped from the calculation. For more, click here...
3/13/2018


Oregon construction firms finding ways to deal with labor shortage
With the economy humming and unemployment rates at modern-day lows, the labor shortage has long made it tough for certain industries to find employees. Construction and manufacturing firms have been hit particularly hard by the labor shortage, partly because many of their older employees are retiring. But some Lane County, Ore., firms are doing more than complaining about the tight labor market. Some are spending money to attract and retain workers through increased wages, hiring bonuses, and expanded benefits. For more, click here...
3/5/2018


Canada's GDP slowdown worse than expected
Canada’s economy decelerated more than expected in the second half of last year, amid signs indebted households have begun slowing down spending. The economy grew at an annualized pace of 1.7% in the fourth quarter, Statistics Canada reported Friday, versus economist expectations for 2% growth. Third-quarter gross domestic product growth was also revised down. For more, click here...
3/2/2018


U.S. consumer sentiment at second-highest level since 2004
Consumer sentiment last month rose to the second-highest level since 2004 and plentiful job opportunities buoyed Americans’ spirits amid stock-market volatility, a University of Michigan survey showed Friday. The advance in confidence caps a week of buoyant data, although President Donald Trump’s plan to impose tariffs on steel and aluminum imports rattled markets and poses a risk to growth. For more, click here...
3/2/2018


Revised fourth quarter U.S. GDP up 2.5%
U.S. economic growth slowed slightly more than initially thought in the fourth quarter as the strongest pace of consumer spending in three years drew in imports and depleted inventories. Gross domestic product expanded at a 2.5% annual rate in the final three months of 2017, instead of the previously reported 2.6% pace, the Commerce Department said in its second GDP estimate on Wednesday. That was a deceleration from the third quarter's brisk 3.2% pace. For more, click here...
2/28/2018


U.S. consumer confidence surges in February
U.S. consumer confidence surged in February, building off its rebound from January and reaching the highest level since 2000. The Conference Board's measure of consumer attitudes on current and future economic conditions increased to 130.80 in February, up from 124.30 in January. For more, click here...
2/27/2018


Consumer prices jump, spark inflation fears
U.S. consumer prices rose considerably more than expected in January, fueling fears that inflation is about to turn dangerously higher. The Consumer Price Index rose 0.5% last month against projections of a 0.3% increase, the Labor Department reported Wednesday. Excluding volatile food and energy prices, the index was up 0.3% against estimates of 0.2%. For more, click here...
2/14/2018


Consumer confidence jumps in January
Consumer optimism pushed higher than anticipated in January, after a surprise decline the previous month. The Conference Board's measure of consumer confidence rose to 125.4 in January, higher than the 123.1 anticipated by economists polled by Reuters. The measure had declined to 122.1 in December. For more, click here...
1/30/2018


Canadian inflation slows, consumer prices up 1.9%
The overall annual pace of inflation slowed to 1.9% in December as gains in the price of gasoline eased up, Statistics Canada said Friday. But economists said the economic strength last year is pushing underlying prices higher. For more, click here...
1/26/2018


U.S. economic growth slows in 4Q
U.S. economic growth unexpectedly slowed in the fourth quarter as the strongest pace of consumer spending in three years resulted in a surge in imports. Gross domestic product expanded at a 2.6% annual rate also restrained by a modest pace of inventory accumulation, the Commerce Department said in its advance fourth-quarter GDP report on Friday. That followed a 3.2% growth pace in the third quarter. For more, click here...
1/26/2018


Consumer sentiment survey hits six-month low
Consumer sentiment unexpectedly declined in January to a six-month low as American households viewed the economy less favorably, a University of Michigan report showed Friday. The decline in sentiment included a decrease in a measure of buying conditions for big-ticket goods, indicating consumer spending may slow early this year after a solid holiday-shopping season. For more, click here...
1/19/2018


U.S. consumer prices post biggest gain in 11 months
Underlying U.S. consumer prices recorded their largest increase in 11 months in December amid strong gains in the cost of rental accommodation and health care, bolstering expectations that inflation will gain momentum this year. The Labor Department said its Consumer Price Index excluding the volatile food and energy components rose 0.3% last month also as prices for new motor vehicles, used cars and trucks and motor vehicle insurance increased. For more, click here...
1/12/2018


Consumer confidence slides off 17-year high
U.S. consumer confidence slid off 17-year highs in December, according to The Conference Board's monthly survey. The headline index fell to 122.1, making for a much steeper drop than economists had forecast. They were expecting a fall to 128.0 from November's 128.6, according to Bloomberg. For more, click here...
12/27/2017


U.S. consumer sentiment slips from decade high
U.S. consumer sentiment fell more than expected in the December mid-month reading, slipping further below the decade high reached in October. The University of Michigan's survey of consumer attitudes for December declined to 95.9, after rising to 98.5 in November. Economists polled by Reuters expected the December reading to slip to 97.1. For more, click here...
12/22/2017


U.S. GDP up 3.2% in third quarter
The U.S. economy grew at its fastest pace in more than two years in the third quarter, powered by robust business spending, and is poised for what could be a modest lift next year from sweeping tax cuts passed by Congress this week. Gross domestic product expanded at a 3.2% annual rate last quarter, the Commerce Department said in its third GDP estimate on Thursday. For more, click here...
12/21/2017


Fed raises key interest rate, keeps policy outlook unchanged
The Federal Reserve raised its benchmark overnight lending rate by a quarter of a percentage point Wednesday, as anticipated, but left its rate outlook for the coming years unchanged even as policymakers projected a short-term acceleration in U.S. economic growth. The move, coming at the final policy meeting of 2017 and on the heels of a flurry of relatively bullish economic data, represented a victory for a central bank that has vowed to continue a gradual tightening of monetary policy. For more, click here...
12/13/2017


U.S. consumer sentiment unexpectedly falls in December
Reflecting a deterioration in consumer expectations, the University of Michigan released a report on Friday showing an unexpected decrease in U.S. consumer sentiment in the month of December. The report said the preliminary reading on the consumer sentiment index for December fell to 96.8 from the final November reading of 98.5. Economists had expected the index to inch up to 99.0. For more, click here...
12/8/2017


U.S. 3Q growth revised to three-year high
The U.S. economy’s growth rate last quarter was revised upward to the fastest in three years on stronger investment from businesses and government agencies than previously estimated, Commerce Department data showed Wednesday. The latest results for GDP, the value of all goods and services produced, show the economy withstood major hurricanes to reach a more solid footing as it entered the final stretch of the year, thanks to stronger business spending that’s helping cushion a softer pace of consumption. For more, click here...
11/29/2017


Consumer confidence hits 17-year high
Consumer optimism ripped higher in November, building on historic highs set in the previous month. The Conference Board's measure of consumer confidence rose to 129.5, the highest mark since the index hit 132.6 in November 2000. Economists polled by Reuters anticipated a decline to 124, after October registered 126.2. For more, click here...
11/28/2017


Consumer sentiment slips from October high
U.S. consumer sentiment saw slight gains in November compared to the mid-month reading, though the index remained below the decade high reached in October. The University of Michigan's survey of consumer attitudes for November rose to 98.5 in a Wednesday release. The measure was forecast by Reuters economists to hit 98. For more, click here...
11/22/2017


New report asserts softwood lumber's economic impacts
A new report by Forest Economic Advisors (FEA), commissioned by the Softwood Lumber Board (SLB), highlights the importance of softwood lumber manufacturing to the U.S. economy and, in particular, the health of rural communities. Through both direct manufacturing and via downstream industries that use softwood lumber as a primary input, FEA estimates that 775,674 jobs, with a total payroll of more than $46 billion, are tied to the softwood lumber manufacturing industry. For more, click here...
11/14/2017


U.S. consumer sentiment cools in November
U.S. consumer sentiment tumbled in early November, though the index remained at the second-highest level of the year so far. The University of Michigan's index of consumer attitudes fell to 97.8 in November, well below the expectations of a survey of Reuters economists, who forecast no change from the 100.7 level at the end of October. For more, click here...
11/10/2017


Fed holds off on rate hike, opens door to December
The Federal Reserve declined to raise interest rates at its policy meeting this week and said the late-summer hurricanes likely will not have much longer-term impact on overall economic activity. There was little in the post-meeting statement Wednesday to indicate that the Fed would hold off on raising rates again soon. As widely anticipated, the Federal Open Market Committee, the central bank's policymaking arm, held its benchmark interest rate target between 1% and 1.25%. Markets also figure the Fed will approve a quarter-point hike at the December meeting, though the committee chose not to tip its hand overtly in Wednesday's statement. For more, click here...
11/1/2017


Consumer confidence hits highest level since December 2000
Consumers were even more optimistic in October than economists polled by Reuters expected. Consumer confidence rose to 125.9 in October, according to the Conference Board. The index "increased to its highest level in almost 17 years," Lynn Franco, Director of Economic Indicators at The Conference Board, said in a statement. That was in December 2000, when the index hit 128.6. For more, click here...
10/31/2017


U.S. economy expands at brisk pace
The U.S. economy unexpectedly maintained a brisk pace of growth in the third quarter as an increase in inventory investment and a smaller trade deficit offset a hurricane-related slowdown in consumer spending and a decline in construction. Gross domestic product increased at a 3.0% annual rate in the July-September period after expanding at a 3.1% pace in the second quarter, the Commerce Department said on Friday. For more, click here...
10/27/2017


Surge in energy costs sends U.S. consumer prices up 0.5%
U.S. consumer prices rose 0.5% in September, the largest increase in eight months. The result reflects another big jump in energy prices in the aftermath of Hurricane Harvey, which shut Gulf Coast refineries and caused gasoline prices to jump across the country. The September increase in the closely watched consumer price index was the biggest one-month gain since a 0.6% rise in January, the Labor Department reported Friday. For more, click here...
10/13/2017


U.S. consumer sentiment surges to 13-year high
U.S. consumer sentiment unexpectedly surged to a 13-year high as Americans’ perceptions of the economy and their own finances rebounded following several major hurricanes, a University of Michigan survey showed Friday. The jump in sentiment, which was greater than any analyst had projected, may reflect several trends: falling gasoline prices following a hurricane-related spike; repeated record highs for the stock market; a 16-year low in unemployment; and post-storm recovery efforts driving a rebound in economic growth. For more, click here...
10/13/2017


U.S. consumer sentiment dampened by hurricanes
U.S. consumer sentiment in September was blown slightly off course by a string of damaging hurricanes but remained relatively resilient otherwise, making the first nine months of 2017 the best on record since 2000. The University of Michigan consumer sentiment survey for September registered a reading of 95.1, slightly lower than the 95.3 that analysts surveyed by Bloomberg had expected and below the 96.8 recorded in August. For more, click here...
9/29/2017


U.S. economic growth revised higher in 2Q
The U.S. economy grew a bit faster than previously estimated in the second quarter, recording its quickest pace in more than two years, but the momentum probably slowed in the third quarter as Hurricanes Harvey and Irma temporarily curbed activity. Gross domestic product increased at a 3.1% annual rate in the April-June period, the Commerce Department said in its third estimate on Thursday. The upward revision from the 3.0% rate of growth reported last month reflected a slightly faster pace of inventory investment. For more, click here...
9/28/2017


U.S. consumer confidence, home sales falter
U.S consumer confidence fell in September and home sales dropped to an eight-month low in August due to the impact of Hurricanes Harvey and Irma, supporting the view that the storms would hurt economic growth in the third quarter. The economy, however, remains on solid ground as other data on Tuesday showed a strong increase in house prices in July. For more, click here...
9/26/2017


Consumer sentiment survey declines in September
Consumer confidence declined in September, after hitting a seven-month high in August. The consumer sentiment index, a survey of consumers by the University of Michigan, hit 95.3 in September, better than economists polled by Reuters expected. For more, click here...
9/15/2017


Gasoline, rent boost U.S. consumer inflation
U.S. consumer prices accelerated in August amid a jump in the cost of gasoline and rental accommodation, signs of firming inflation that could allow further monetary policy tightening from the Federal Reserve this year. Other data on Thursday showed an unexpected drop in the number of Americans filing applications for unemployment benefits last week. Though the data was impacted by hurricanes Harvey and Irma, the labor market remains healthy with increasing reports of worker shortages in some industries. The Labor Department said its Consumer Price Index rose 0.4% last month after edging up 0.1% in July. August’s gain was the largest in seven months and lifted the year-on-year increase in the CPI to 1.9% from 1.7% in July. For more, click here...
9/14/2017


U.S. consumer sentiment rises in August
U.S. consumer sentiment climbed in August from July as consumers remained optimistic about their personal financial conditions, although confidence was not quite as strong as economists had estimated, a survey showed Friday. The University of Michigan's consumer sentiment index rose to 96.8 in August from a final reading of 93.4 the month before. The result fell short of expectations for a reading of 97.4, according to a Reuters poll, and also slipped from a preliminary reading of 97.6 two weeks earlier. For more, click here...
9/1/2017


U.S. GDP hits Trump's 3% target in 2Q
U.S. economic growth in the second quarter is now thought to be stronger than previously reported, helped by stronger business investments and consumer spending. The Commerce Department's second estimate of Q2 gross domestic product released Wednesday printed at 3%. Economists had forecast a slight increase to 2.7% from 2.6% on the back of stronger consumer spending. For more, click here...
8/30/2017


U.S. consumer confidence reaches second-highest level since 2000
A pickup in consumer confidence to the second-highest level since late 2000 provided a basis for steady gains in spending, according to figures Tuesday from the New York-based Conference Board. Americans have had much to lift their moods: optimism about the economy, steady hiring and unemployment at a 16-year low, in addition to contained inflation, home-price appreciation and stock-market gains. Improving consumer sentiment also bodes well for growth in household spending, the biggest part of the economy. The results reflect survey responses through Aug. 16, prior to Hurricane Harvey’s landfall in Texas. For more, click here...
8/29/2017


Canada's annual inflation rate rises to 1.2% in July
Canada's annual inflation rate ticked higher in July as prices for gasoline climbed, giving the Bank of Canada room to raise its key lending rate again in the fall. The annualized inflation rate last month was 1.2%, up from 1% in June, Statistics Canada said, adding the increase was in line with estimates. For more, click here...
8/18/2017


U.S. consumer sentiment reaches seven-month high
U.S. consumer sentiment improved to its strongest level in seven months in early August, reflecting confidence in the outlook for the economy and in personal finances as the U.S. stock market holds near record highs, a key survey showed on Friday. The University of Michigan's consumer sentiment index rose to 97.6 in the first half of August from 93.4 the month before, which was an eight-month low. The result exceeded expectations for a reading of 94, according to a Reuters poll. For more, click here...
8/18/2017


Modest rise in U.S. consumer prices may delay Fed rate hike
U.S. consumer prices rose slightly in July as higher food costs were partly offset by falling prices for a range of other goods, suggesting benign inflation that could persuade a cautious Federal Reserve to delay raising interest rates until December. But with the labor market near full employment and economic growth accelerating, analysts expect the U.S. central bank will announce a plan to start unwinding its massive bond portfolio at its policy meeting next month. The Labor Department said on Friday its Consumer Price Index edged up 0.1% last month after being unchanged in June. That lifted the year-on-year increase in the CPI to 1.7% from 1.6% in June. For more, click here...
8/11/2017


U.S. consumer sentiment fell in July
A closely watched measure of household confidence in the U.S. economy declined in July, but remained elevated. The University of Michigan on Friday said its final reading on consumer sentiment during July was 93.4, up from a preliminary reading of 93.1 but down from 95.1 in June. Economists surveyed by The Wall Street Journal had expected a final July figure of 93.1. For more, click here...
7/28/2017


U.S. GDP meets 2Q expectations
U.S. gross domestic product increased 2.6% in the second quarter, meeting expectations. Last quarter's growth rate came in at 1.4%. The economy grew at a 2.1% pace in the fourth quarter of 2016. U.S. economic growth in 2015 was the best since 2005 but the momentum ebbed significantly in 2016, with the economy notching its weakest performance since the recession, according to revised government data published on Friday. For more, click here...
7/28/2017


Fed keeps key interest rates unchanged
The Federal Reserve is keeping its benchmark interest rate unchanged at a time of low inflation, which remains persistently below the Fed’s target level. The Fed noted Wednesday in a statement that inflation has stayed undesirably low even though the job market keeps strengthening, with the unemployment rate just 4.4%. Normally, solid job growth drives up wages and prices. But the Fed’s preferred gauge of inflation has moved further below its 2% target in recent months. The central bank decided after ending its latest policy meeting to leave its key rate unchanged in a range of 1% to 1.25% after having raised rates twice this year, in March and June. For more, click here...
7/26/2017


U.S. consumer confidence hits four-month high
A four-month high in U.S. consumer confidence reflects Americans’ sunnier views on both their current situation and outlook, a positive sign for the economy, data from the New York-based Conference Board showed Tuesday. With unemployment near a 16-year low and U.S. stocks reaching record highs, consumers remain upbeat, which should continue to support the household spending that accounts for about 70% of U.S. gross domestic product. For more, click here...
7/25/2017


Consumer sentiment slips lower
Confidence in future economic prospects continued slipping into early July, the University of Michigan reported Friday. U.S. consumer sentiment fell to 93.1 in a preliminary survey. Economists expected consumer sentiment to hit 95 in July, according to Thomson Reuters consensus estimates. "Overall, the recent data follow the same pattern repeatedly recorded around past cyclical peaks: expectations start to post significant declines while assessments of current economic conditions continue to reach new peaks," Richard Curtin, a chief economist for the University of Michigan's survey of consumers, said in a statement. For more, click here...
7/14/2017


Weak inflation, retail sales dim rate hike prospects
U.S. consumer prices were unchanged in June and retail sales fell for a second straight month, pointing to tame inflation and soft domestic demand that diminished prospects of a third interest rate increase from the Federal Reserve this year. Still, the economy likely regained speed in the second quarter after a sluggish performance at the start of the year. Other data on Friday showed industrial production picked up in June, driven by a surge in oil and gas drilling. For more, click here...
7/14/2017


Yellen: Stronger economy warrants more rate hikes
The U.S. economy is gathering strength as consumer spending, business investment and global demand for American products rebound from a weak spell at the beginning of the year, likely warranting further gradual increases in the Federal Reserve’s benchmark interest rate, Fed Chair Janet L. Yellen plans to tell Congress Wednesday morning. In a measured statement to be delivered at the beginning of two days of testimony to the U.S. House of Representatives, Yellen described an economy that appears generally strong, with continued job gains and low unemployment, but is still dogged by stubbornly low inflation. Despite low inflation, the Fed has lifted interest rates twice this year, in March and June, bringing its benchmark rate to between 1 and 1.25%. For more, click here...
7/12/2017


Consumer sentiment survey declines in June
A measure of U.S. consumer sentiment declined in June, a possible sign of softening public confidence about the economy heading into the summer. The University of Michigan on Friday said its consumer-sentiment index was 95.1 in June, up from a preliminary June reading of 94.5 but down from 97.1 in May. Economists surveyed by The Wall Street Journal had expected a final June reading of 94.4. For more, click here...
6/30/2017


U.S. GDP growth revised up in 1Q
The U.S. economy slowed less sharply in the first quarter than initially estimated due to unexpectedly higher consumer spending and a bigger jump in exports. Gross domestic product increased at a 1.4% annual rate instead of the 1.2% pace reported last month, the Commerce Department said in its final assessment on Thursday. It was still the slowest growth rate since the second quarter of last year. Economists polled by Reuters had expected GDP growth to remain unchanged at a 1.2% rate. For more, click here...
6/29/2017


Consumer confidence rises in June
The Consumer Confidence Index rose in June to 118.9, despite expectations for it to drop, The Conference Board announced Tuesday. Economists were expecting the index to drop slightly to 116 for the month of June, according to Thomson Reuters consensus estimates. Last month, the index dipped to 117.9, down from its April reading, The Conference Board said. For more, click here...
6/27/2017


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