Tag Archives: US Economy

Factory activity in Texas expanded at a faster pace this month, according to data by the Federal Reserve Bank of Dallas. The Texas factory production index, a key measure of state manufacturing conditions, increased in June by 14 points to 29.4, according to the results of the Texas Manufacturing Outlook …

U.S. consumer confidence declined in late June, according to data by the University of Michigan released on Friday. The Index of Consumer Sentiment eased to 85.5 from an initial reading of 86.4 earlier this month. Compared with its reading in May at 82.9, consumer sentiment maintained an improvement.               The current …

U.S. President Joe Biden announced that a bipartisan deal has been reached on the infrastructure plan with a vote on the draft bill expected this summer. The five-year mega plan includes huge government spending and investments of about $1 trillion, with the aim of revitalizing the job market, and overhaul …

Mortgage rates in the United States surged this week amid expectations that the Federal Reserve could raise interest rates sooner than previously expected, according to data by Freddie Mac. The fixed-rate 30-year mortgage registered an average rate of 3.02% for the week ended June 24. This marked an increase of …

The United States’ Real Gross Domestic Product (GDP) expanded at an annual rate of 6.4% in the first quarter, the US Bureau of Economic Analysis reported on Thursday. This reading matched the previous estimate and the market consensus.

Inflation in the United States will decline by the end of 2021 to near 2%, the U.S. Secretary of the Treasury, Janet Yellen, said on Wednesday. Speaking in front of a Senate committee, Yellen told lawmakers that economic recovery is on a bumpy path. She believes the recent surge in …

The U.S. Secretary of the Treasury, Janet Yellen, said on Wednesday that Congress should raise or suspend the debt limit as soon as possible. In her testimony against the Senate, Yellen warned that failing to raise or suspend the debt limit would be catastrophic to the economy. The current debt …

New home sales in the United States declined in May by 5.9% to a seasonally adjusted annual rate of 769,000 units, official data by the U.S. Census Bureau showed on Wednesday. On an annual basis, sales increased by 9.2% last month. The number of homes available for sale by the …

The business activity in the US service sector continued to expand at a strong pace in June but lost momentum compared to May with the Markit Services PMI declining to 64.8 from 70.4 70 figure was expected. The Composite PMI fell to 64.9 in June from 68.7 in May.

Manufacturing activity in the U.S. continued to show signs of improvement this month, as shown by survey data by the Federal Reserve Bank of Richmond on Tuesday. The Fifth District Survey of Manufacturing Activity’s Composite Index rose from 18 in May to 22 in June, maintaining a positive performance since …