U.S. industrial production rises 0.4% with boost from auto sector
Production of motor vehicles and parts rose 5.3% in November, the biggest monthly increase since a 31% surge in July.
Economy
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U.S. productivity increased at 4.6% rate in third quarter
Economists cautioned that the swings in productivity this year have been unusually large and are distorting the underlying trend in productivity.
Jobs report to show how much pandemic is squeezing hiring
Friday’s monthly U.S. jobs report will help answer a key question overhanging the economy: Just how much damage is being caused by the resurgent coronavirus, the resulting curbs on businesses and the reluctance of consumers to shop, travel and dine out?
Fed reports slowing U.S. economic activity due to virus surge
The report said that among the sectors doing better were manufacturing, housing construction and existing home sales. But banks said there had been deterioration in their loans, particularly those to retailers and the leisure and hospitality industries.
Bipartisan group of senators prepares $908B stimulus plan
Several centrist lawmakers in the Senate held a news conference Tuesday morning to push their proposal as a template for legislation that could pass Congress as the economy faces increasing strain from a winter surge in coronavirus cases.
Fed leader Powell says pace of economic improvement has moderated
In remarks released Monday, Federal Reserve Chairman Jerome Powell said that the increase in new COVID-19 cases both in the United States and abroad was “concerning and could prove challenging for the next few months.
As economy struggles, Fed weighs boosting bond purchases
The Federal Reserve since June has been buying $120 billion in bonds each month to keep downward pressure on long-term interest rates as a way of giving the economy a boost as it struggles to emerge from a deep recession.
Consumer spending up only slightly as virus maintains grip
U.S. consumers increased their spending by a sluggish 0.5% last month, the weakest rise since April, when the pandemic first erupted.
Orders for manufactured goods show unexpected October gain
The strength in October came primarily from the volatile category of defense orders, with demand for military aircraft surging by 79.1%.
Virus surge threatens newfound U.S. corporate profit optimism
While an effective vaccine is expected to be widely distributed in 2021, surging U.S. infections are causing renewed angst as government officials re-impose the kind of restrictions that squelched the economy and roiled markets earlier this year.
Weak retail sales in October stir up unease about holidays
A surge in coronavirus infections nationwide and the expiration of a $600 weekly boost to unemployment checks over the summer have slowed spending by Americans.
Economist: Indiana might benefit as pandemic pushes people to flee big cities
Jeff Korzenik, chief investment strategist at Fifth Third Bank, said Thursday that homeowners and businesses have become more interested in locating in suburbs and mid-sized cities—a trend that could benefit the Indianapolis area.
IU economic forecast expects recovery to slow, jobless rate to remain elevated
The forecast holds out hope for positive economic growth in the second half of 2021 in Indiana, but it assumes the state will either remain at Stage 5 of Gov. Eric Holcomb’s reopening plan or operate under even fewer restrictions.
Economy added 638,000 jobs in October, dropping unemployment rate to 6.9%
The U.S. economy has recovered two-thirds of the ground it lost during the first half of the year, and yet has a long way to go and remains vulnerable, economists said.
Dow caps volatile October with worst weekly finish since March
The three major U.S. indexes closed out the final trading day of a turbulent October with more losses, capping a wretched week marked by a record surge in coronavirus infections, dashed hopes for an economic rescue deal before the election and renewed fears of a new wave of business disruptions.
U.S. economy grew at 33% rate in third quarter after spring plunge
The Commerce Department’s estimate Thursday of third-quarter growth regained about two-thirds of the output that was lost early this year when the economy essentially froze as safety orders forced restaurants, bars and many retailers to shut down.
Stock market slide muddles Trump’s economic message days before 2020 election
The sell-off began two weeks ago but intensified Monday. It has been triggered by a surge in coronavirus cases and the fact that the White House and Democrats are at an impasse over relief talks.
Stocks plummet as global anxiety swells about COVID-19 surge
Three major U.S. stock indexes tumbled at least 3.4% on Wednesday as uncertainty about the economy, politics and public health drove investors from the market.
Stocks swoon to worst day in month as virus cases surge
The S&P 500 fell 1.9% Monday to 3,400.19 points, deepening its losses from last week. The Dow Jones Industrial Average fell 2.3% to 27,685.38 points, and the Nasdaq dropped 1.6% to 11,358.94 points.
Fed survey finds tepid growth as U.S. economy battles pandemic
A Federal Reserve survey of business conditions around the country found that the U.S. economy grew at a “slight to modest” pace in September and early October, but that the pace of activity varied greatly among sectors.