Tag Archives: US Economy

U.S. Treasury Secretary Janet Yellen believes that the recently approved huge stimulus package is exactly what the American economy needed. Speaking in a virtual hearing by members of the House of Representatives, Yellen expected strong recovery from the negative economic impact of the pandemic. “With the passage of the rescue …

New home sales in the United States declined by 18.2% in February to 775,000, compared with their level in January, data by the U.S. Census Bureau showed on Tuesday. On an annual level, new home sales rose by 8.2% last month, compared with their level in February 2020. Data further …

The current account deficit in the United States accelerated to a 12-year high in 2020, as the Covid-19 pandemic severely affected the flow of goods and services. The US Commerce Department said the current account deficit, which measures the flow of goods, services, and investments into and out of the …

Existing home sales in the United States declined in February by 6.6% to a seasonally adjusted annual rate of 6.22 million units, data by the National Association of Realtors (NAR) showed on Monday. Home resales increased by 9.1% compared with its level in the same period last year. The decline …

The United States coal exports declined by 26% to 69 million metric short tons (MMst) in 2020, from 93 MMst in 2019, according to recent data by the U.S. Energy Information Administration (EIA). Data also showed that four out of the top 10 U.S. coal exporters increased their imports in …

The US government said Thursday that the US land borders with Canada and Mexico will remain closed to non-essential travel until at least April 21. The 30-day extension is the second announced under President Joe Biden and comes as US lawmakers in northern border states have urged to lift restrictions …

Mortgage rates in the United States continued to rise for the fifth consecutive week, reaching their highest level since June of last year, Bloomberg reported, citing data by Freddie Mac released on Thursday. The average 30-year mortgage rate reached 3.09%, compared with 3.05% in the previous week. It is worth noting …

Housing Starts in the US declined by 10.3% on a monthly basis in February following January’s 5.1% decline, the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development showed on Wednesday. Further details of the publication revealed that Building Permits fell by …

Standard & Poor’s affirmed credit ratings agency confirms America’s sovereign credit rating at AA + / A-1 + and maintains a stable outlook. The agency said that the US dollar’s status as the world’s No. 1 reserve currency and the size and depth of the US financial market will support …

The U.S. builder confidence in the market of newly built single-family homes fell by two points to 82 in March, as shown by the latest NAHB/Wells Fargo Housing Market Index (HMI) on Tuesday. “Despite high buyer traffic and strong demand, builder sentiment fell in March as rising lumber and other …