Tag Archives: US Economy

The United States Secretary of Treasury, Steven Mnuchin, said on Monday that he will continue to work to reach a deal with Congress for a new economic stimulus package. Speaker of the House, Nancy Pelosi, recently expressed hopes for a new deal to help the economy cope with the complications …

The United States economy is recovering at a pace that is faster than initially expected, a recent survey by The Wall Street Journal suggested. Participating economists and market experts are expecting the US gross domestic product (GDP) will achieve a growth rate of 23.9% during the third quarter (Q3) of …

The United States federal government’s budget deficit exceeded $3 trillion during the first 11 months of fiscal year 2020. Deficit in August amounted to $200 billion, Reuters reported. Year-to-date, the deficit reached $3.007 trillion nearly triple that of the same period last year.

Wholesale inventories in the United States amounted to $632.3 billion in July, declining by 0.3% compared with its level in June and by 5.6% compared with its level in July 2019, according to seasonally adjusted data by the US Department of Commerce’s Census Bureau. In July 2020, the wholesale inventories …

The Producer Price Index (PPI) in the United States increased by 0.3% in August compared to 0.6% in July, data showed on Thursday. The reading comes as double the expectations of a recent Reuters poll, and after the index declined by 0.2% in June. Analysts had expected an increase of …

The Trump administration has reached an agreement with the US Congress to provide funding for the federal government after the end of the month, avoiding a government shutdown, Vice President Mike Pence reportedly told CNBC on Friday. “The agreement reached this week by the Treasury secretary and our negotiation team …

The US Dollar (USD) is anticipating positive economic data to support its upward trend against major currencies. Recent manufacturing data helped the greenback, after data showed an increase in new factory orders as well as a surge in the sector purchasing managers’ index (PMI). However, the effects of the rising …

New factory orders in the United States rose by more than expected in July, according to data by the US Department of Commerce. Factory orders increased by 6.4% in July, while a recent poll by Reuters forecast a growth of 6%. The indicator signals a strong recovery from the coronavirus …

The United States merchandise trade deficit increased during July to its second-largest level on record, Bloomberg reported. As imports returned to their pre-COVID-19 levels, the deficit increased to $79.3 billion in July from a revised $71 billion in June, according to data by the Department of Commerce on Friday. Imports …

The University of Michigan’s Index of Consumer Sentiment improved in August to a reading of 74.1, up from 72.5 in July. The 2.2% monthly increase is accompanied by a 17.5% yearly decline, as the index remains way below its level in August 2019 at 89.8. The Current Economic Conditions index …