Latest U.S. Department of Commerce News
Next Week: Retail sales, newly constructed homes, unemployment benefit claims
A look at some of the key business events and economic indicators upcoming next week. Retail review Redbook Research releases its weekly gauge of retail sales on Tuesday. The report is a key indicator of retailers’ performance because it measures...
U.S. economy grows at 3.1% pace in third quarter, an upgrade from previous estimate
WASHINGTON (AP) — The American economy grew at a healthy 3.1% annual clip from July through September, propelled by vigorous consumer spending and an uptick in exports, the government said in an upgrade to its previous estimate. Third-quarter growth in U.S. gross domestic product...
US effort to curb China's and Russia's access to advanced computer chips 'inadequate,' report finds
WASHINGTON (AP) — The Commerce Department's efforts to curb China's and Russia's access to American-made advanced computer chips have been “inadequate” and will need more funding to stymie their ability to manufacture advanced weapons, according to a report published Wednesday by the Senate's...
Retail sales rose at healthy pace last month in latest sign of US economy's health
WASHINGTON (AP) — Consumers stepped up their spending at retail stores last month, providing a boost to the economy in the early phases of the winter holiday shopping season. Retail sales rose 0.7% in November, the Commerce Department said Tuesday, a solid increase and higher than...
Next Week: Retail sales, Fed policy update, existing home sales
A look at some of the key business events and economic indicators upcoming this week. Tracking retail sales The Commerce Department releases its monthly snapshot of U.S. retail sales Tuesday. Retail sales rose 0.4% in October from the previous month, more...
US expands list of Chinese technology companies under export controls
BANGKOK (AP) — The U.S. Commerce Department has expanded the list of Chinese technology companies subject to export controls to include many that make equipment used to make computer chips, chipmaking tools and software. The 140 companies newly included in the so-called “entity...
This Week: Construction spending, Campbell’s Co. earnings, November jobs report
A look at some of the key business events and economic indicators upcoming this week. Under construction The Commerce Department releases its latest snapshot of U.S. construction spending Monday. Economists project that spending slipped 0.1% in October...
US economy grows at 2.8% pace in third quarter on consumer spending, unchanged from first estimate
WASHINGTON (AP) — The American economy expanded at a healthy 2.8% annual pace from July through September on strong consumer spending and a surge in exports, the government said Wednesday, leaving unchanged its initial estimate of third-quarter growth. U.S. gross domestic product...
US consumer price increases accelerated last month with inflation pressures resilient
WASHINGTON (AP) — Consumer price increases accelerated last month, the latest sign that inflation's steady decline over the past two years has stalled in recent months. According to the Federal Reserve's preferred inflation gauge, consumer prices rose 2.3% in October from a year...
Commerce Department to reduce Intel's funding on semiconductors
LOS ANGELES (AP) — The Biden administration plans on reducing part of Intel's $8.5 billion in federal funding for computer chip plants around the country, according to three people familiar with the grant who spoke on the condition of anonymity to discuss private conversations. ...
