U.S. goods trade deficit grew in January to widest in three months

The US economy continue stronger than expected. The U.S. trade deficit in goods is widest gap in three months in January, according to data released Wednesday by the Commerce Department.  That month, imports surged by 3% to $325.8 billion, exports rose by 3.4% to $257.5 billion. The main driver of […]

Did the education budget get spent on disinfectant and hazmat suits? (The Chinese characters on the blackboard mean: “Welcome back students.” December 2022 photo by CFOTO/Sipa USA.

China’s local governments are struggling to pay their bills

Last September, 29-year-old graduate Alex Xu began her first day as an English teacher at a public elementary school in Shenzhen, one of the richest cities in the economic powerhouse of southern China. She was happy with her promised salary of around 11,000 yuan ($1,600) per month and around 12 […]

Electric cars at a charging station

Welcome to the “Battery Belt”

Electric Vehicles are Creating a New Manufacturing Industry Until a few years ago, the Red Roof Inn in Commerce, Georgia, was just a quiet stop on the I-85 between Atlanta and Charlotte. Even in the busy season, most visitors only stayed for a couple of nights.  But business started to […]

Worker grinding metalwork

Manufacturers Tighten Belts, as Banking Troubles Loom

Manufacturing orders saw reduced growth in February, the latest sign of an economy that is starting to cool in response to rising borrowing costs.  Orders for core capital goods–business equipment excluding aircraft and defense– rose 0.2% in February, less than the 0.3% growth recorded for the previous month. Shipments of […]

After an Explosive Start to 2023, Retail Sales Cool Down in February 

Retail and food services sales in the United States fell in February, as consumers returned to a pattern of relatively robust spending while coping with high inflation and rising interest rates.  The February Retail Sales Report, released by the U.S. The Department of Commerce on Wednesday, recorded an estimated $697.9 […]

Inflation Continues to Decline but Remains Too High

The rate of inflation has continued on a downward trend since the summer, yet it remains too high for the Federal Reserve’s liking, meaning further interest rate hikes are to be expected. For the year ending in February, the Consumer Price Index (CPI) rose 6%, a decrease from January’s year […]

U.S. Home Prices Continued to Slow in December

The decline in U.S. home prices that began in June last year continued for the sixth straight month at the end of 2022, with higher mortgage rates weighing down December’s home price gains. Tuesday morning’s S&P Case-Shiller report showed that the National Composite declined -0.8% month-over-month in December and now […]

Slight Ease in Inflation is Not Enough

The rate of US inflation is continuing to cool but not at a quick enough rate to change the Fed’s planned course of action. The Consumer Price Index (CPI) increased 6.4% in January over the last 12 months, according to the latest report released last week by the Bureau of […]

After a Year-End Struggle, Retail Sales Came Roaring Back in January

U.S. retail sales rebounded in January after a disappointing holiday season, indicating that the economy remains resilient despite fears of an oncoming recession. The Monthly Retail Sales Report, released by the U.S. Department of Commerce, recorded an increase of 3% in sales from December 2022 to January 2023. Consumers spent […]