Latest U.S. Department of Commerce News
This week in business: consumer confidence, inflation updates
Checking confidence? The Conference Board on Tuesday releases its gauge of consumer confidence for September. Economists project that confidence fell slightly this month. The Conference Board's consumer confidence index surged in July to 114, its highest level in 24...
Retail sales rise 0.6% in August largely due to a spike in gas prices
NEW YORK (AP) — Americans stepped up retail spending modestly from July to August as the price of gasoline jumped, cutting into budgets as many families send their kids off to school. Retail sales rose 0.6% in August, compared with a revised 0.5% increase in July, according to a...
This Week in Business: factory orders, services industry health, layoffs update
A look at some of the key business events and economic indicators upcoming this week: Economic barometer The Commerce Department releases its July snapshot of business orders to U.S. factories on Tuesday. Economists project that factory orders fell 2.7%...
US economic growth for last quarter is revised down to a 2.1% annual rate
WASHINGTON (AP) — The U.S. economy expanded at a 2.1% annual pace from April through June, showing continued resilience in the face of higher borrowing costs for consumers and businesses, the government said Wednesday in a downgrade from its initial estimate. The government had...
Summer spending at bars & restaurants surges as Americans shrug off inflation, recession fears
NEW YORK (AP) — Americans didn’t let persistent inflation and lingering worries about a recession cut into summer spending on eating and drinking out. Retails sales at restaurants and bars surged from May through July compared with a year ago, despite prices remaining relatively...
U.S. commerce secretary to visit China amid efforts to stabilize relations
U.S. Secretary of Commerce Gina Raimondo will meet with Chinese officials and American business leaders next week amid efforts to stabilize relations that have sunk to historic lows. Raimondo’s Aug. 27-30 visit to Beijing and Shanghai aims for “constructive discussions on issues...
Retail sales rose solidly last month in a sign that consumers are still spending freely
NEW YORK (AP) — Americans increased their purchases at retailers last month – for clothing, dining out, online goods and other areas – in a sign that solid consumer spending is still powering a resilient U.S. economy. Retail sales rose a better-than-expected 0.7% in July from...
Joe Biden's 'Buy America' policy on infrastructure projects leads to factory jobs in Wisconsin
WASHINGTON (AP) — Efforts by the Biden administration have been helping create new factory jobs as part of a push to bring high-speed internet to the whole country -- jobs that coincidentally help to back up President Joe Biden's messaging for the 2024 elections. Vice President...
China restricts civilian drone exports, citing Ukraine and concern about military use
BEIJING (AP) — China imposed restrictions Monday on exports of long-range civilian drones, citing Russia’s war in Ukraine and concern that drones might be converted to military use. Chinese leader Xi Jinping’s government is friendly with Moscow but says it is neutral in the...
This Week: Consumer confidence, Fed policy, inflation update
A look at some of the key business events and economic indicators upcoming this week: Staying confident The Conference Board releases its gauge of consumer confidence for July on Tuesday. Economists project that confidence remains high following a...
