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....
The latest data from the government on consumer prices indicates a bit of weary truth: Inflation’s settled in, seemingly for the long haul. The Bureau of Labor Statistics noted on Tuesday (Feb. 13) in a news release that, overall, prices were up 3.1% in January, as...
U.S. consumers are feeling more optimistic about their financial conditions and access to credit. That’s according to the January 2024 Survey of Consumer Expectations, released Monday (Feb. 12) by the Federal Reserve Bank of New York’s Center for Microeconomic Data. “Perceptions of credit access compared to a year...
Is there a literal slowdown in the cards? The Federal Reserve’s latest report on consumer credit data showed that overall, households took on $1.5 billion more in debt in December, a marked slowdown from the $23.4 billion gain that was seen in November. The slowdown...
