Recent economic data from this week give ammunition to the argument that paying for groceries over time will be a long-standing trend. As noted in this space, PCE data released Thursday (Feb. 29) noted that inflation is slowing, at least overall. But food is pricier...
The headlines Thursday (Feb. 29) trumpet the fact that inflation rose in January at the rate most people expected — by 3% month on month. The Personal Consumption Expenditures (PCE) price index is parsed by Wall Street and by the Federal Reserve in mulling when,...
The latest readings of gross domestic product (GDP) have been revised down — at least a bit. And though the fourth-quarter GDP still logged some growth, the pace of increase has decelerated from a formerly torrid pace, which trains a spotlight on the prime mover...
New orders for manufactured durable goods declined by 6.1% in January. Orders dropped by $18 billion to $276.7 billion during the month, the U.S. Census Bureau said in a Tuesday (Feb. 27) press release. January’s drop in orders for durable goods followed a 0.3% decline...
New Department of Labor data shows a drop in initial applications for unemployment in the United States. Unemployment claims fell by 12,000 to 201,000 for the week ending Feb. 17, the lowest level in more than a month, the department said in a Thursday (Feb....
Online payment processing platform Checkout.com has reportedly recorded a $126 million loss in its U.K. business. The company was hit by reduced consumer spending and higher inflation, which led to stalled revenue growth, according to a Thursday (Feb. 15) report from Tech.EU, which cited unnamed sources. Checkout.com’s...
As pop star Taylor Swift kicks off her Eras tour in Australia, fans are flocking to the concerts and injecting money into the economy. The tour, along with other major events, is expected to generate billions of dollars in economic value, Bloomberg reported Thursday (Feb. 15). Swift’s...
The questions swirling amid the January sales slump boils down to these: Is it the pause that refreshes — as consumers essentially take a breath, shore up their finances a bit, and then keep spending? Or is the prime mover of the U.S. economy (that’s...
It’s still too early to determine if the economy can have a soft landing, Michael Barr, vice chair for supervision at the Federal Reserve, said Wednesday (Feb. 14). Speaking at the National Association for Business Economics conference, Barr discussed the United States’ path to achieving 2% inflation, Reuters reported Wednesday....
