Tag Archives: US Economy

Home sales in the United States continued to decline during April for the third consecutive month, data showed on Friday. According to the National Association of Realtors (NAR) existing home sales fell by 2.7% to a seasonally adjusted annual rate of 5.85 million units last month. Meanwhile, home sales rose …

Factory activity in the United States expanded this month, supported by a robust local demand, data showed on Friday. The flash U.S. manufacturing purchasing managers’ index (PMI) rose to 61.5 in the first half of May from 60.5 in April, according to IHS Markit. This marked the highest reading for …

The President of the United States, Joe Biden, is set to reveal his first detailed budget proposal on May 28, the White House announced on Wednesday. The new budget will be for the upcoming fiscal year starting next October. Biden took office last January, making this the first fiscal year …

Applications for new claims of unemployment benefits in the United States declined below 500,000 last week, data showed on Thursday. The initial claims for state unemployment benefits decreased by 34,000 to a seasonally adjusted 444,000 for the week ended May 15, according to the U.S. Department of Labor. This marked …

The new leader of the Office of the Comptroller of the Currency (OCC), an independent bureau within the United States Department of the Treasury, has warned against overconfidence in the banking sector, calling for caution. Michael Hsu, pointed to the recent Archegos Capital fund crisis, which negatively impacted a number …

The 10-year Treasury yield exceeded 1.66% on Wednesday morning. This took place later that day, prior to the release of minutes from the Federal Reserve Board’s last policy meeting. Benchmark yield 10-year government bond It rose to 1.666% EST at 4 am. Yield 30-year government bond It rose to 2.385%. …

The United States Secretary of the Treasury, Janet Yellen, is calling for higher tax rates, urging business leaders to pay their fair share amid increased government spending on stimulus and economic relief packages to stimulate the economic recovery from the coronavirus pandemic. Yellen said in her speech to the U.S. …

Treasury bond yields in the United States stabilized on Monday, as expectations of rising interest rates were cooled down by recent remarks by Federal Reserve officials. This comes following a surge in the return on the long-term debt instrument, which was the largest in nearly two months. Markets are anticipating …

The confidence of homebuilders in the United States stabilized, supported by the low-interest rates amid increasing construction costs due to the rising inflation rates. The home builders’ confidence index registered a reading of 83 this month, according to data by the National Association of Home Builders (NAHB) released on Monday. …

Industrial Production in the United States expanded by 0.7% on a monthly basis in April, the US Federal Reserve reported on Friday. This reading followed March’s increase of 2.4% (revised from 1.4%) and fell short of analysts’ estimate of 1%.