U.S. business equipment orders rebounded sharply in October
The data suggest companies are largely adhering to capital spending plans as they seek to improve productivity and help counter lingering cost pressures.
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Target’s 3Q profit drops 52% as shoppers force price cuts
The retailer voiced caution about its sales and profit during the fourth quarter because customers have been waiting for sales rather than buying goods at full price, and finding ways to cut down on spending in other ways as well.
U.S. economy headed for slowdown, investment strategist says
Speaking at an IBJ economic forecast event Monday, a Fifth Third Bank economist said the chance of heading into another recession is “literally a toss-up, a coin flip.”
Kelley School economic forecast underscores uncertainty for 2023
The annual Business Outlook forecast from Indiana University Kelley School of Business, released Thursday, says predictions are tougher than usual to make due to aggressive increasing of interest rates by the Federal Reserve.
U.S. services gauge hits lowest level since May 2020 as orders cool
U.S. service providers expanded in October at the slowest pace since May 2020 as orders growth and business activity moderated, suggesting the broader economy continues to cool.
U.S. manufacturing nears stagnation as price gauge hits 2-year low
Ten manufacturing industries reported a contraction in October, led by furniture, wood products, paper products and textiles. Eight industries expanded.
U.S. job openings rise to 10.7M in bad news for inflation fight
U.S. job openings rose unexpectedly in September, suggesting that the American labor market is not cooling as fast as the inflation fighters at the Federal Reserve hoped.
Key U.S. inflation gauge stayed at high 6.2% in September
A measure of inflation that is closely monitored by the Federal Reserve remained painfully high last month, the latest sign that prices for most goods and services in the United States are still rising steadily.
Amazon stock tumbles on weaker-than-expected 3Q revenue
The Seattle-based e-commerce behemoth’s weak forecast for the fourth quarter indicates that it expects things to get tougher.
U.S. economy returned to growth last quarter, expanding 2.6%
The U.S. economy grew at a better-than-expected annual rate from July through September, snapping two straight quarters of economic contraction and overcoming punishingly high inflation and interest rates.
Inflation starts to drag on consumers powering U.S. economy
Most economists expect Americans to keep spending at a relatively lackluster pace through the end of the year. Overall uncertainty about consumer spending is weighing on a range of companies.
Core U.S. inflation rises to 40-year high, likely securing big Fed hike
The report stresses how high inflation has broadened across the economy, eroding Americans’ paychecks and forcing many to rely on savings and credit cards to keep up.
Retailers’ stockpiles mean holiday discounts starting now
After struggling with product shortages for much of the pandemic, the country’s retailers are now facing an unprecedented glut of unsold merchandise that’s cutting into profits, derailing holiday plans and threatening to drag down broader U.S. economic growth.
Going strong: U.S. dollar gained value against key currencies in past year
When the dollar is strong, a U.S.-based company that sells products overseas earns fewer dollars. On the flip side, the cost of imported goods and foreign expenses are lower.
International group warns of higher recession risk, darker global outlook
The Russian invasion of Ukraine, the ongoing COVID-19 pandemic, rising inflation and worsening climate conditions are impacting world economies and exacerbating other crises, like food insecurity and high debt levels held by lower-income countries.
OPEC+ makes big oil cut to boost prices; pump costs may rise
The alliance of oil-exporting countries on Wednesday decided to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S. drivers just ahead of elections.
Poll: Many pessimistic about improving standard of living
Most of those polled said that raising a family and owning a home are important to them, but more than half said these goals are harder to achieve compared with their parents’ generation.
U.S. job openings drop to 10.1M, lowest since June 2021
U.S. job openings plummeted in August, likely a welcome sign for Federal Reserve officials as they seek to cool demand for workers without triggering a spike in unemployment.
U.S. consumers spent slightly more in August
The figures suggest that the economy is showing some resilience despite sharply rising interest rates, violent swings in the stock market, and high inflation.
College Football Playoff title game generated $156M in spending
Commissioned by the local organizing committee, the study generally covered a four day period from Jan. 7 to 10. It found about 56,000 people visited Indianapolis for the game, spending an average of $281 per day.