U.S. Trade Gap Hits 14-Year High of $68.1B
Retailers pushed imports of consumer goods to a record as they stocked up for the Christmas holiday season..
Retail Sales Fall 1.1% in Largest Pandemic Drop
“The economy will bounce back strongly in [Q2] as vaccine deployment reaches critical mass but until then it’s going to be a long, bleak winter."
Core Capital Goods Orders Rise 0.7% in October
The continued improvement in the key measure of U.S. business investment suggests manufacturers are optimistic about a return to normalcy next year.
U.S. Housing Starts Increase 4.9% in October
The housing market’s “momentum could slow amid a resurgence in new COVID-19 infections that is putting strain on the economic recovery.”
Retail Sales Growth Slows to 0.3% in October
“It looks like consumer spending is increasingly turning into a headwind for this recovery from the worst economic downturn since the Great Depression."
U.S. GDP Surges by Record 33.1% in Q3
Economists are sticking to estimates of only 4% growth in the fourth quarter and a prolonged recovery from the coronavirus recession.
Judge Gives WeChat Reprieve From U.S. Shutdown
WeChat users who sued the Trump administration had “shown serious questions going to the merits of their First Amendment claim," the court said.
U.S. Consumer Spending Rises 5.6% in June
"The explosion of COVID-19 infections ... is casting doubt on the magnitude of the expected surge in third-quarter consumer spending."
U.S. Economy Shrinks by Record 32.9% in Q2
“It’s a very deep and dark hole and we’re coming out of it, but it’ going to take a long time to get out.”
U.S. Durable Goods Orders Jump 7.3% in June
“The sugar rush from re-openings has now faded and a resurgence of domestic coronavirus cases ... will weigh heavily on business investment."
Housing Starts Rebound With 17.3% Increase
“With a staggering 32 million Americans collecting unemployment checks and lumber prices at a two-year high, a robust housing market is unlikely.”