U.S. retail sales rebounded strongly in June. As Americans spent more on gasoline. Annual consumer prices surged last month. Manufacturing production slumped for a second straight month in June. The economy also continued to create jobs at a brisk clip in June. U.S. retail deals bounced back emphatically in June as Americans spent more on … Read more
China has not evaded sanctions or sent military supplies to Russia, US official says. Enforcement steps taken earlier in the week targeted Chinese firms and not the Chinese government. Commerce Department placed five Chinese companies on a trade blacklist for allegedly aiding Russia’s military. WASHINGTON: The United States has not observed China evading sanctions or … Read more
Motor vehicle purchases declined amid rampant shortages, and record high gasoline prices pulled spending away from other goods. Data for April was revised lower to show sales increasing 0.7% instead of 0.9% as previously reported. Weak retail sales did not divert the Federal Reserve from its aggressive monetary policy tightening path. Sales at service stations … Read more
The American economy’s first-sector downturn changed into barely worse than at first pronounced, no matter persisted robust consumer spending, consistent with revised government facts launched Thursday. The slowdown got here after a huge gain inside the very last 3 months of 2021 because the Omicron variant spread within the United States and worldwide deliver chain … Read more
Americans spent extra at gasoline stations however less at auto sellers and e-commerce websites remaining month, sending retail sales lower, authorities records stated Thursday. The Commerce Department said retail income rose 0.5 percentage in March as compared to February’s upwardly revised fee, barely much less than analysts forecast. Underpinning the boom turned into an eight. … Read more
WASHINGTON: US manufactured goods orders increased far more than expected in January, according to government data released Friday, driven by a big increase in aircraft sales. The Commerce Department reported durable goods sales rose 1.6 per cent last month, while December”s 0.9 per cent slump in sales was revised sharply upwards to show a 1.2 … Read more
WASHINGTON: Strong American export business caused a large drop in the US trade deficit last month, even as imports also rose, according to government data released on Tuesday. The gap between imports and exports of goods and services dropped 17.6 per cent to $67.1 billion last month, bringing the trade deficit down from a record … Read more
WASHINGTON: The US retail sales rose 1.7 per cent in October, amid surging inflation, the Commerce Department said on Tuesday. Retail sales totaled $638.2 billion in October, 16.3 per cent above October 2020, according to the report. September’s retail sales were revised up from an increase of 0.7 per cent to 0.8 per cent, the … Read more
