Economy

US housing starts soar 16.9% in December to a 13-year high

U.S. homebuilding surged to a 13-year high in December as activity increased across the board, suggesting the housing market recovery was back on track amid low mortgage rates, and could help support the longest economic expansion on record. Housing starts...

US manufacturing output rises unexpectedly

Flextronics International Apple factory employees work on Apple Mac Pro computer assembly in Austin, TX, November 20, 2019. Tom Brenner | Reuters U.S. manufacturing output rose unexpectedly in December as a drop in motor vehicle output was outpaced by increases...

Manufacturers to spend $26.2 billion on ‘upskilling’ in 2020 to attract and keep workers

A worker fits wheel hub badges on the Ford Focus automobile assembly line inside the Ford Motor Co. factory in Saarlouis, Germany, on Wednesday, Sept. 25, 2019. Ford expects hybrid electric vehicles and battery electric vehicles (BEVs) to...

US weekly jobless claims drop unexpectedly

Job seekers attend the CUNY Big Apple Job and Internship Fair at the Jacob Javits Convention Center in New York. Richard Levine | Corbis | Getty Images The number of Americans filing claims for unemployment benefits dropped for a fifth...

US retail sales climb in December, and November sales were revised up

U.S. retail sales rose for a third straight month in December, with households buying a range of goods even as they cut back on purchases of motor vehicles, which could strengthen the view that the economy maintained a moderate...

The pickup truck indicator shows the economy is strong

According to one unconventional economic indicator, business is booming. Looking at sales from pickup trucks as a proxy for the health of small businesses in the U.S., DataTrek Research found that 2019 ended on a strong note, and that sales...

Here’s why a sluggish manufacturing sector may bounce back soon

A General Motors hi-lo driver moves newly assembled engines, used in a variety of GM cars, trucks and crossovers, from final assembly at the GM Romulus Powertrain plant in Romulus, Michigan, August 21, 2019. Rebecca Cook | Reuters Purchasing managers...

Trump to nominate Shelton, Waller to serve on Fed

Judy Shelton, U.S. executive director for the European Bank for Reconstruction and Development, stands for a photograph. Andrew Harrer | Bloomberg | Getty Images President Donald Trump will pick two economists, Judy Shelton and Christopher Waller, to serve on the...

US producer prices barely rise as services remain subdued

U.S. producer prices edged up in December as a rise in the cost of goods was offset by weakness in services, the latest indication of tame inflation pressures that could allow the Federal Reserve to keep interest rates unchanged...

Fed could use negative rates if US recession strikes, Goldman Sachs chief economist predicts

U.S. rate-setters could set negative interest rates in the future, despite their own current doubts about the risks of this unconventional measure, Goldman Sachs told CNBC Wednesday. When central bankers implement negative interest rates, it means that banks, for instance,...

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