Consumer confidence dips to lowest level since July as outlook dims
The figures suggest consumers are turning sour on the economy amid expectations that the labor market will soon begin to soften.
Economy
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U.S. business activity unexpectedly jumps, risking more inflation
Firms saw new orders jump to the highest rate in 11 months, especially in the service sector. That allowed businesses to pass on higher costs to customers, resulting in the fastest jump in output prices in seven months.
Inflation takes March tumble at wholesale level
The U.S. government said plunging energy prices pulled the producer price index down 0.5% in March from February. It marks the biggest decrease in producer prices in three years.
Inflation keeps cooling as Fed begins to worry about ‘mild’ recession
Reading the inflation report, economists emphasized the need to stay cautious and not treat all sources of price hikes as equal.
Cheaper gas, food provide some relief from U.S. inflation
Despite last month’s decline, food costs are still up more than 8% in the past year. And restaurant prices, up 0.6% from February to March, have risen nearly 9% from a year ago.
U.S. job openings cooled in February, slipped to 9.9M
Despite the drop, the number of layoffs ticked lower in February, and more Americans quit their jobs—a sign of confidence they can find better pay or working conditions elsewhere.
Key inflation gauge tracked by Fed slowed in February
Taken as a whole, Friday’s figures show that inflation pressures, though easing gradually, still maintain a grip on the economy.
Indianapolis-based angel investor group eyeing ‘record year’ in 2023, executive director says
VisionTech, a group of more than 130 investors, has so far this year made seven investments totaling $1 million. In comparison, the group made a total of 16 investments totaling $2.4 million in all of 2022.
Fed’s unwanted ally in bid to tame inflation: Credit crunch
Signs of a possible credit crunch in the United States had begun to emerge even before Silicon Valley Bank collapsed on March 10, raising worries about the stability of the financial system.
U.S. jobless aid claims show weekly decline as layoffs remain low
The labor market continues to thrive despite the Federal Reserve’s efforts to cool the economy and tamp down inflation.
Companies eye cutting benefits for working parents amid recession fears
Adoption and fertility-assistance programs were the perks companies said they were most likely to eliminate, while parental leave and child-care benefits were also on the chopping block.
‘Excuseflation’ helping prices—and corporate profits—remain high
A growing body of analysts and researchers see a pattern of companies using unusual disruptions as an excuse to raise prices for their goods and services, thereby allowing them to expand profit margins.
Powell says ‘no decision’ on size of Fed’s next rate hike
Jerome Powell’s more nuanced remarks Wednesday appeared to be an effort to quell any assumption that the Fed has already decided to raise rates more aggressively based on a recent string of data that pointed to strong economic growth and still-high inflation.
U.S. job openings dip, but remain high at 10.8 million
For 20 straight months, employers have posted at least 10 million openings—a level never reached before 2021 in Labor Department data going back to 2000.
Fed’s Powell signals increased rate hikes if economy stays strong
Jerome Powell’s comments reflect a sharp change in the economic outlook since the Fed’s most recent policy meeting in early February.
Millions more U.S. workers possibly self-employed than thought
The survey adds to evidence that informal work has been increasingly prevalent in the U.S. economy, a trend further exacerbated by the pandemic, social media and remote work.
US economy sending mixed signals: Here’s what it all means
Here’s a closer look at the economy’s vital signs at a perplexing time of high interest rates, still-punishing inflation and surprisingly strong economic gains.
Survey: Business economists push back US recession forecasts
A third of the economists who responded to the survey now expect a recession to begin in the April-June quarter. One-fifth think it will start in the July-September quarter.
Key U.S. inflation measure surges at fastest rate since June
January’s price data exceeded forecasters’ expectations, confounding hopes that inflation was steadily decelerating and that the Fed could relent on its campaign of rate hikes.
U.S. revises down last quarter’s economic growth to 2.7% rate
Thursday’s report revised down the government’s estimate of consumer spending growth in the October-December quarter. Business spending also slowed in the fourth quarter, suggesting that the economy lost momentum at the end of 2022.