Economy
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Economy | LATEST STORIES
Multi-Family Building Permits Up 22 Percent
Permits rose even as mortgage rates remain elevated.
Biden Signs Funding Bill, Averting Government Shutdown
The bipartisan bill ensures funding through March 2025.
China’s Economy Shows Strain as US Tariff Threats Loom
China’s economic figures show weak consumer spending, highlighting vulnerabilities in its economy.
Tech, Health Care, Automotive Industries Lost the Most Jobs in 2024: Report
Industrial manufacturing and the media business also saw significant job losses in 2024.
Car Manufacturing Has Worst November Since 1980, Says Industry Body
The trade and business secretary has also written to Vauxhall owner Stellantis, asking them to reconsider closing the plant.
Key Fed Inflation Measure Ticks Up for 2nd Straight Month
Goods inflation slowed, but prices for services spiked.
Government Borrowing Falls in November, Amid Rise in Retail Sales
The borrowing and retail sales data come amid sluggish economic growth in the UK, with inflation accelerating at its fastest pace since March.
US Manufacturing Still Spinning Its Wheels, Fed Data Show
Nearly 33 percent of companies surveyed reported decreases in general activity in December, up from 23 percent the previous month.
Trump Tariffs Could Slash Deficit by Trillions, With Modest Impact on Inflation, Economic Output : CBO
The nonpartisan agency’s analysis examines three possible scenarios under Trump’s proposed tariffs.
US Should Abolish the Debt Ceiling, Trump Says
‘The Democrats have said they want to get rid of it. If they want to get rid of it, I would lead the charge,’ Trump said.
Fed Inflation Projections Rise Sharply, Risks Tilt to Upside
The Federal Reserve is signaling slower rate cuts, warning of upside inflation risks, and raising the 2025 inflation forecast in new projections.
Bank of England Keeps Interest Rates Unchanged at 4.75 Percent
The decision to hold interest rates comes amid growing inflationary pressures and contraction of the UK economy.
Dow Jones Tumbles 1,100 Points, Recording 1st 10-Day Losing Streak Since 1974
‘Today’s Fed announcement put more uncertainty on the table,’ an investment adviser said.
US Car Sales Forecast to Beat Expectations for Best Performance Since 2019
General Motors is projected to be the top-selling car brand, followed by Toyota and Ford.
UK Inflation Rises to Highest Rate Since March
Rising inflation could reduce chances of interest rate cuts by the Bank of England on Thursday.
Australia’s Deficit to Be $22 Billion Worse Off Than Originally Predicted
Expected growth figures were also revised downwards.
Expect a Year-End Rally in Late December
If the manufacturing sector resumes growing, 4 percent annual U.S. GDP growth is possible.
Government Spending Decreased Americans’ Purchasing Power: Reports
The ‘entire narrative about inflation being caused by supply chains was just wrong,’ one economist said.
