Service sector growth in U.S. reaches a six-month high
The service sector grew faster in August on the heels of a surge in summer spending, the Institute for Supply Management reported on Wednesday.
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Personal spending grows hot in July as inflation stabilizes
American consumers remained in the position of strength when it came to spending and income growth this summer as inflation stabilized further and the labor market stayed resilient.
Back-to-school outlook: What can we expect for holiday shopping?
If July's retail sales are any indication, this year's holiday sales will be largely focused on individual product categories and consumer spending by income level.
Existing home sales fall near January low as rates surge
July sales were much lower than expected, dropping by 2.2% on the month compared to a forecasted decline of only 0.2% earlier.
Near-target inflation fuels hope of soft landing for economy
Inflation stabilized further in July as the consumer price index data met expectations, the Bureau of Labor Statistics reported on Thursday.
U.S. charitable donations fell last year
Donations to charity fell to $499 billion last year, a 3.4% decrease from 2021.
Business orders for equipment rise despite higher borrowing costs
New orders for core capital goods, a proxy for business investment, came in higher than forecast in June, rising by 0.2%, the Commerce Department reported on Thursday.
Back-to-school outlook: Consumers will seek value
The back-to-school season is influenced by shifting consumer behavior as families prioritize value-oriented choices.
Strong economic data signals another rate hike in July
A series of economic reports released on Thursday showed a much more resilient economy than expected heading into a crucial period when the Federal Reserve is on the verge of hiking interest rates again.
Spending and inflation cool in May
Inflation continued to decelerate in May as the Federal Reserve's key pricing metric—the personal consumption expenditures index—grew by only 3.8%
U.S. economy was a lot stronger in first quarter, final GDP estimate shows
The third and final estimate of gross domestic product showed a drastic upward revision to a 2.0% gain from 1.3% on a quarterly and annualized basis.
Business equipment spending rises for the second straight month
Despite May's top-line upside surprises in the durable goods report, our forecast for GDP growth in the second quarter stays at 1.8%.
Is the economy headed for a recession? Jobless claims are saying yes.
Despite the labor market's resilience and persistently low claims compared to historical norms, the steady increases in claims since late last year are ringing alarm bells.
Fed pauses rate hikes while signaling a tightening bias
The Federal Open Market Committee on Wednesday kept its policy rate in a range between 5% and 5.25% while signaling that it will most likely hike the federal funds rate by 25 basis points at least twice before the end of the year.
Inflation relief in the pipeline as food, gas and service prices ease
Top-line U.S. inflation is moving back toward levels where it is appropriate for the Federal Reserve to pause in its efforts to restore price stability.
The debt ceiling agreement and the financial health of the U.S.
The agreemen's impact on economic growth will most likely be negligible and will bring modest growth in overall spending over the next two years.