Latest U.S. Department of Commerce News
This Week: Existing home sales, retail data for May and Kroger's first-quarter results
A look at some of the key business events and economic indicators upcoming this week: RETAIL RECEIPTS The Commerce Department on Tuesday reports retail sales data for May. Analysts expect that retail sales rose 0.3% last month after stagnating in April....
US economic growth last quarter is revised down from 1.6% rate to 1.3%, but consumers kept spending
WASHINGTON (AP) — The U.S. economy grew at a sluggish 1.3% annual pace from January through March, the weakest quarterly rate since the spring of 2022, the government said Thursday in a downgrade from its previous estimate. Consumer spending rose but at a slower pace than previously thought, a...
China to impose controls on exports of some aviation and aerospace equipment
BEIJING (AP) — China’s Commerce Ministry said Thursday it will restrict exports of some aviation and aerospace-related equipment and technology beginning July 1. A notice seen Thursday on the ministry’s website said the move was to safeguard national security and interests and...
This week: Consumer confidence, Dick's Sporting Goods earnings and the latest US inflation reading
A look at some of the key business events and economic indicators upcoming this week: HOW CONFIDENT? The Conference Board on Tuesday issues its consumer confidence index for May. Confidence deteriorated in April for the third straight month as Americans...
Lawmakers call for further inquiry into Virginia prison that had hypothermia hospitalizations
RICHMOND, Va. (AP) — A raft of hypothermia hospitalizations and other questionable conditions at a Virginia prison uncovered in a recent report deserve further scrutiny, leading Democratic state lawmakers said this week. Lawmakers pledged to press Republican Gov. Glenn Youngkin's...
Retail sales were unchanged in April from March as inflation and interest rates curb spending
NEW YORK (AP) — Americans unexpectedly paused their spending in April from March as inflation continued to sting and elevated interest rates made taking on debt more burdensome. Retail sales were unchanged, coming in well below economists' expectations, and follow a revised 0.6%...
Editorial Roundup: Minnesota
Minneapolis Star Tribune. May 1, 2024. Editorial: In the cellar with Minnesota state Sen. Nicole Mitchell An evenhanded process is needed for dealing with legislator behavior. Here’s what’s not subject to interpretation: State Sen. Nicole Mitchell...
Confidence of US consumers continues to decline as Americans worry about the future
WASHINGTON (AP) — U.S. consumer confidence deteriorated for the third straight month as Americans continue to fret about their short-term financial futures with prices and interest rates still elevated. The Conference Board, a business research group, said Tuesday that its...
Commerce Department announces new restrictions on U.S. firearms exports
WASHINGTON (AP) — The Commerce Department on Friday announced new restrictions on U.S. firearms exports in an effort to prevent the guns from ending up in the hands of drug traffickers and criminals in other nations. Oversight of legal firearms exports has become a political...
This week: economic growth, unemployment, inflation update
Economic gauge The Commerce Department releases its initial estimate of first-quarter economic growth on Thursday. Economists expect growth slowed to just 2% in the first quarter of 2024, down from 3.4% in the final quarter of 2023 and 4.9% in the third quarter....
