The U.S. economy started 2017 out with a whimper, but it wasn't quite as weak as first thought. The government revised up its January-March growth reading, the Commerce Department reported Friday.
The Federal Reserve said Tuesday that industrial production at U.S. factories, mines and utilities shot up 1 percent in April from March, the biggest gain since February 2014 and the third straight monthly gain.
Economists surveyed by the National Association for Business Economics are generally optimistic about the U.S. economy, with most expecting stronger growth than last year's poor performance.
A resilient China, rising commodity prices and sturdy financial markets are offering a sunnier outlook for the global economy.
Payroll processor ADP said Wednesday that businesses added 263,000 jobs in March, the most since December 2014.
The U.S. economy grew at a slightly faster rate in the fourth quarter, but the small change did not alter the growth rate for the entire year, which came in at an anemic 1.6 percent. It was the worst showing in five years.
The index measures both consumers' assessment of current conditions and their expectations for the future. Both improved this month.
Company owners have gotten a confidence boost following the November election. Many have said in surveys they’re hoping for lower taxes and health care costs under President Donald Trump and the Republican-controlled Congress.
U.S. employers added a robust number of jobs in February and raised pay at a healthy pace, making it all but certain that the Federal Reserve will raise short-term interest rates next week.
The productivity of American workers grew at a slower pace in the fourth quarter and last year recorded the smallest annual gain in five years.
Economic growth for 2016 overall was just 1.6 percent, the poorest showing in five years. Since the recession ended in mid-2009, annual growth has averaged 2.1 percent, the worst performance for any recovery in the post-World War II period.
The Labor Department said Wednesday consumer prices rose 0.6 percent last month, the most since February 2013 and twice what economists were expecting.
Americans spent more than normally expected last month at clothiers, department stores, electronics outlets and sporting goods retailers.
U.S. employers added a healthy 227,000 jobs last month and more Americans began looking for work—developments that President Donald Trump interpreted as confidence in his administration.
The gross domestic product grew at an annual rate of just 1.9 percent in the October-December period, a slowdown from 3.5 percent growth in the third quarter, the Commerce Department reported Friday.
The 189-nation global lending agency's latest economic outlook took note of the significant impact Trump's election has already had in giving a boost to U.S. stock prices, interest rates and the dollar.
Though the unemployment rate rose to 4.7 percent from a nine-year low of 4.6 percent, it did so for an encouraging reason: More people began looking for work.
American households are expecting a Donald Trump administration to deliver. They are more upbeat about the prospects for the economy, labor market and their incomes, the Conference Board said.
American manufacturing is barely expanding as global demand and domestic business investment remain uninspiring.
The median estimate from economists surveyed by the National Association for Business Economics calls for the American economy to grow 2.2 percent in 2017.
