All eyes were on the latest Personal Consumption Expenditures data Friday (Aug. 29) as a read-across for when the Federal Reserve may cut interest rates. But the information also details pressures on consumers navigating a balancing act in terms of spending and saving: While incomes,...
The European Commission has proposed reducing some of its tariffs on U.S. goods to gain relief from U.S. tariffs on European Union cars and car parts. The Commission said in a press release that its proposals include eliminating tariffs on U.S. industrial goods, providing preferential market access...
Consumer confidence slipped in August, as individuals said inflation is likely to surge, while job prospects dimmed and spending plans were, at best, mixed. The Conference Board’s Consumer Confidence Index edged down by 1.3 points to 97.4 from a revised 98.7 in July, according to...
America’s furniture sellers could soon face additional tariffs on imports. Last week, President Donald Trump announced on social media that the government was probing furniture imports to the U.S., an investigation set to wrap up within 50 days. Tariffs could come “at a rate yet...
New orders for manufactured durable goods declined by 2.8% in July, marking the third decline in four months, but rising orders for the “core capital goods” subset of that total signaled an increase in business spending. Orders for manufactured durable goods decreased by $8.8 billion to...
There’s good news and bad news these days when it comes to the American labor market. On the plus side, The Wall Street Journal (WSJ) said in a report Saturday (Aug. 23), unemployment is still low, with companies showing little interest in carrying out layoffs....
The number of Americans who have filed a continued claim for unemployment benefits has reached its highest level since Nov. 6, 2021. Insured unemployment reached 1,972,000 during the week ended Aug. 9, a figure that was 30,000 higher than the previous week’s level and the...
If you’ve been planning to buy Sony’s PlayStation 5, expect to pay a bit more. “Similar to many global businesses, we continue to navigate a challenging economic environment,” the tech company wrote in a company blog post Wednesday (Aug. 20). “As a result, we’ve made...
A growing number of American companies plan to slow hiring in the latter half of this year. Twenty percent of employers say they’ll bring on fewer workers this year, The Wall Street Journal reported Thursday (Aug. 21), citing data from The Conference Board. That figure is...