Tag Archives: US Economy

Inflation in the US, as measured by the Consumer Price Index (CPI), rose to 7.0% on a yearly basis in December from 6.8% in November, the US Bureau of Labor Statistics reported on Wednesday. That was in line with the median economist forecast for a reading of 7.0%. The MoM …

Federal Reserve Jerome Powell will appear before the Senate for his official reappointment hearing on Tuesday. In prepared remarks he will state that the “economy is expanding at its fastest pace in many years, labor market is strong”. On Monday, Powell’s prepared remarks for reappointment confirmation hearing were released. Powell …

Wholesale inventories in the United States rose 1.4 percent from a month earlier to $771.09 billion in November of 2021, above a preliminary estimate of 1.2 percent. Increases were seen in inventories of durables (2.1 percent), namely machinery (1.2 percent), automotive (2.7 percent) and professional equipment (0.9 percent). Also, stocks …

The S&P 500 index is down by about 0.6% as yields rally, hurting the dominant tech sector. The latest US jobs report, though mixed, has been interpreted as endorsing the Fed’s monetary tightening plans for 2022.The S&P 500 is trading on the back foot as its heavyweight tech sector suffers …

US businesses and firms have eventually managed to cope with shortages and Omicron. The ISM services index falls to three-month low of 62% from record 69.1%. Most US companies that service customers are still doing brisk business, but omicron threatens to dampen sales. The ISM figures have revealed that CVS, …

Despite the uncertainty about the new coronavirus variant, the US economy ended 2021 on a high with rising consumer spending and falling unemployment. According to the US Economic scene published by the Conference Board in December, the Omicron variant does not seem to have dampened spirits for the coming year …

US trade deficit in goods hit a fresh record in November due to strong demand and an easing of supply-chain issues.California’s Port of Los Angeles is struggling to keep up with the influx of cargo containers arriving at its terminals, creating one of the biggest obstruction points in the global …

The Institute of Supply Management’s headline Services PMI index fell to 62.0 in December versus forecasts for a fall to 66.9 from 69.1 in November. Business Activity fell to 67.6 from 74.6. Prices Paid rose to 82.5 from 82.3. New Orders fell to 61.5 from 69.7, the lowest such reading …

According to US Census Bureau data, US Factory Order rose by 1.6% MoM in November. That was slightly above the expected 1.5% gain and marked an acceleration on the 1.2% MoM gain seen back in October (which was revised up from 1.0%). Excluding transportation, orders were up 0.8% on the …

The S&P 500 is a little lower but trading within recent ranges under 4800 ahead of the Fed minutes release. Growth continues to underperform value, meaning the Nasdaq 100 is performing poorly while the Dow is holding up better.US shares are mixed in the run-up to the release of the …