Tag Archives: US Economy

The Chicago Purchasing Managers’ Index (PMI), or the Chicago Business Barometer, rose by 5.1 points to 63.8 in January, according to data by ISM-Chicago and MNI on Friday. This is the highest reading for the index since July 2018. Surveyed business had various responses to the question, “How is the …

The United States Pending Home Sales Index declined by 0.3% in December to 125.5, data by the the National Association of Realtors (NAR) showed on Friday. This is the fourth consecutive monthly decline for the index. On an annual basis, pending home sales rose by 21.4% last month. Meanwhile, existing …

The U.S. Congress is expected to start procedures to pass the huge stimulus package proposed by President Joe Biden next week, Reuters reported citing leaders in the Democratic party. Both Senate Majority Leader Chuck Schumer and House Speaker Nancy Pelosi pointed to work on passing what the administration is calling …

The United States’ Real Gross Domestic Product (GDP) expanded at an annual rate of 4% in the fourth quarter, the US Bureau of Economic Analysis’ advance estimate showed on Thursday. This reading followed the 33.4% growth recorded in the third quarter and came in line with analysts’ estimates.

The most prominent event on the US calendar today is the fourth-quarter GDP report due out at 13:30 GMT. Economists are expecting the preliminary figure to show 3.9% year-on-year growth in the October-December period, which indicates growth losing momentum by a large margin compared to the strong recovery in Q4 …

The United States Senate Majority Leader Chuck Schumer said on Tuesday that Democrats are ready to begin working to pass the new president rescue plan as early as next week without cooperation with the Republicans. The plan is being challenging by some Democrats as it will increase government debt. “In …

The United States Housing Price Index rose by 1% last November, data by the Federal Housing Finance Agency (FHFA) showed on Tuesday. On an annual basis, house prices increased by 11% between November 2019 and November 2020. October’s reading that showed a 1.5% increase remained unchanged.

The Governor of Rhode Island, Gina Raimondo, who has been nominated by President of the United States Joe Biden to lead the U.S. Department of Commerce, has vowed to be tough against unfair trade practices from China. Speaking in testimony in front of the U.S. Senate Commerce Committee, Raimondo said …

The Richmond Fed Manufacturing Index declined from 19 in December to 14 in January, data by the Federal Reserve Bank of Richmond showed on Tuesday. Despite the decline, the index remained in the expansion territory. Manufacturers reported lengthening vendor lead times, as this index rose to 39, its highest reading …

Consumer confidence in the United States increased during in January, despite worries about the Coronavirus pandemic, data showed on Tuesday. The consumer confidence index by the Conference Board rose to a reading of 89.3 in January from 87.1 in December.