Tag Archives: US Economy

The Producer Price Index (PPI) in the US for final demand rose to 7.8% on a yearly basis in July from 7.3% in June, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading came in higher than the market expectation of 7.3%. On a …

Oil prices closed higher on Wednesday, rebounding from early losses that followed news about pressuring OPEC to raise production and the release of the weekly inventory data in the United States. The U.S. is asking the Organization of the Petroleum Exporting Countries (OPEC) to increase production, claiming that the global …

The United States federal budget deficit declined to about $2.5 trillion during the first ten months of the current fiscal year, compared with $2.8 trillion in the comparable period of last year, data showed on Wednesday. The U.S. Department of the Treasury reported that the deficit increased to $302 billion …

Inflation in the US, as measured by the Consumer Price Index (CPI), stayed unchanged at 5.4% on a yearly basis in July, the data published by the US Bureau of Labor Statistics revealed on Wednesday. This reading came in slig

Senate Democrats have taken their first step toward passing a $3.5 trillion spending plan as the Democratic Party pushes forward with a massive economic agenda. More than 14 hours later, the Democratic-controlled US Senate voted 50-49 to pass the budget resolution. A bill would be drafted by the committees, which …

US investment bank Goldman Sachs lowered its forecast for China’s oil demand in the next two months, citing mounting concerns about the impact of the next wave of COVID-19 infections. The US bank, which already trimmed its forecast last month for emerging market demand due to the delta mutant strain, …

The US Labor Department said on Tuesday that labor productivity growth in the United States slowed in the second quarter, while labor costs were much weaker than expected in the first quarter. Non-farm productivity, which measures hourly output per worker, rose 2.3% on-year in the past quarter. The data for …

The US Senate set a vote on Tuesday on passing a bipartisan $1 trillion infrastructure bill that is one of President Joe Biden’s top priorities and then will immediately begin debating a far-reaching $3.5 trillion bill. In this regard, Senate Majority Leader Chuck Schumer announced late Monday that a week-long …

US job growth rose strongly in July amid demand for workers in the labor-intensive service sector, indicating that the economy maintained its strong momentum at the start of the second half, according to a US Bureau of Labor Statistics report released on Friday. The US Labor Department said in its …

The United States Senate is developing a plan that will require foreign visitors to be fully vaccinated against the coronavirus (COVID-19), Reuters reported on Wednesday, citing a White House official. The move comes in line with the preventive measures taken with the expected easing of travel restrictions. The CDC recently …