Latest U.S. Department of Commerce News
This Week: Existing home sales, quarterly GDP estimate, consumer spending data
A look at some of the key business events and economic indicators upcoming this week HOUSING BAROMETER Economists project that the nation’s home sales slump deepened in June for the fourth straight month. The National Association of Realtors is...
Money from Washington's landmark climate law will help tribes face rising seas, climate change
SEATTLE (AP) — Tens of millions of dollars raised by a landmark climate law in Washington state will go to Native American tribes that are at risk from climate change and rising sea levels to help them move to higher ground, install solar panels, buy electric vehicles and restore wetlands, Gov....
Kaspersky will shutter US operations after software is banned by Commerce Department, citing risk
NEW YORK (AP) — Cybersecurity firm Kaspersky says it's shutting down all of its operations in the United States, just weeks after the Commerce Department banned the use of the company's software in the country. Kaspersky will “gradually wind down” its U.S. operations starting...
Retail sales unchanged in June from May, underscoring shoppers' resilience
NEW YORK (AP) — Shoppers paused their spending in June from May, defying economic forecasts for a pullback and proving their resilience in the face of an uncertain economy Retail sales were unchanged in June from May, after being revised upward to a 0.3% increase in May, according...
This Week: Consumer confidence, inflation data, GDP update
Confidence check The Conference Board on Tuesday issues its consumer confidence index for June. Economists expect that consumer confidence held steady as Americans continued to deal with elevated prices and high interest rates. Confidence rose in May. The measure is...
Cybersecurity firm Kaspersky denies it's a hazard after the US Commerce Dept bans its software
The cybersecurity firm Kaspersky denied Friday that it is a security threat after the U.S. Commerce Department banned the use of its software in the United States. The Moscow-based company — whose CEO Eugene Kaspersky is Russian — said in a statement that the Commerce...
Retail sales rise a meager 0.1% in May from April as still high inflation curbs spending
NEW YORK (AP) — Consumers barely increased spending in May from April as still high prices on groceries and other necessities and high interest rates curbed spending. Retail sales rose 0.1% in May, below the pace that economists projected, the Commerce Department said Tuesday. And...
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...
