Extreme weather events and supply chain congestion restrain strong demand By Jo Constantz Both exports and imports fell in February for the first time since May, reflecting the impact of severe snowstorms on shipping throughout much of the country and a global semiconductor shortage stalling automakers and other manufacturers. However, […]
North Carolina businesses moving ahead with wage increases, even as federal progress stalls
When Wegman’s, a New York based grocery chain, opens the first of two new stores in North Carolina this spring, full-time workers at the Chapel Hill location will be paid $15 an hour, and receive benefits. That is more than double the state’s minimum wage of $7.25. “It is difficult […]
Optimism strengthened despite personal income, consumer spending drop-off
Personal income and consumer spending both declined in February as a result of brutal winter weather which shutdown much of the nation during the end of the month, along with a dropoff from stimulus checks from January. The report released from the Bureau of Labor Analysis showed a personal income […]
The Jobs Report Will Show the Labor Market in Excellent Direction, But Still at Terrible Levels
The labor market in the U.S. is likely to accelerate on its path to recovery as employers are expected to have added more jobs in March than they did in February. Economists expect the March jobs report to show a boom in employment in a sign of economic rebound, capping […]
Durable goods decline slightly in February, but optimism remains for long-term recovery
Durable goods orders declined slightly in February as global supply chain issues lingered and inclement weather pushed the manufacturing industry’s steady recovery off track. New orders for durable goods – items with a life expectancy of at least three years – declined 1.1%, according to the Department of Commerce. This is […]
Retail Sales Steeped in February, But Expected to Rebound
“It suggests that consumers are in a generally good shape, we’ve had the fiscal stimulus checks now for those at the lower end of the income spectrum,” Scott Brown, chief economist at Raymond, James and Associates Inc.
Surging Energy Prices Drive Up Core and Consumer Prices for Second Consecutive Month
Consumer prices continued to move upward in February in the latest sign that Americans continue to grapple with surging energy prices. The consumer-price index rose in February to 0.4% from 0.3% in January the U.S. Labor Department said Wednesday. Rising gas prices drove the increase as the gasoline index rose 6.4% […]
“U.S. Manufacturing is Booming” say Economists, but Employment and Production Still Lag Behind
The United States’ manufacturing sector has grown for the ninth straight month in a row. This glowing trend suggests the pandemic recovery is picking up steam, with persons, households and businesses investing more on long-term physical buys. In February 2021, the Purchasing Manufacturers Index (PMI) clocked in at 60.8— the […]
Widening trade deficit signals strengthening economy
The U.S. trade deficit widened in January as demand rose for imported consumer goods, a promising sign of economic recovery amid the COVID-19 pandemic.
National Home Price Index reaches seven-year high as New York Soars
Housing prices continue to rise across the country at near record rates, proof that the housing market can sustain success despite these trying times.