Retail sales fell in January, as a slow job market and rising gas prices kept consumers out of stores following the holiday season. The advanced estimates for the United States retail and food service sales for January were $381.6 billion, an increase of 0.3 percent from the previous month, according […]
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Jump in Producer Prices Raises Inflation Questions
Wholesale prices increased by 0.8 percent in January, exceeding some forecasters’ predictions. But economists said it’s too soon to sound the alarm on rising inflation, mostly because the overall economic recovery still remains weak. The increase marks the seventh consecutive rise, following a 0.9 percent advance in December and a […]
U.S. Trade Deficit Widened in December
The U.S. trade deficit widened by 6 percent in December, adding up to a record-high annual trade gap with China. The trade gap with China lessened by 19.1 percent in December to $20.7 billion. But the total annual deficit last year added up to the largest deficit the U.S. ever […]
New Jobless Claims Drop Below 400,000
Initial jobless claims fell last week to the lowest level since July 2008. In the week that ended on February 5th, new applications for unemployment insurance totaled 383,000, a decrease of 36,000 from the previous week’s 419,000, according to the Department of Labor. This drop in claims far exceeded expectations […]
Tracking the economy
Welcome to CUNYontheEconomy where you can get a complete update on the latest economic indicators and what they mean for the U.S. economy. The writers are business reporting students and the CUNY J School and you can tell them whether you agree or disagree with their views by sending e-mails […]