U.S. Economy Grows 1.9% in Fourth Quarter

The U.S. economy reverted to a sluggish pace of growth in the fourth quarter of 2016 but still ended the year with some momentum going into the first quarter of 2017.In its first of three official estimates, the Commerce Department said gross domestic product expanded at an inflation and seasonal...

By Matthew Heller • Jan. 30, 2017

CBO Revises 2017 Budget Gap Down to $559B

The Congressional Budget Office has revised downward its federal deficit projection for 2017 but continues to forecast that the shortfall will reach 5% of gross domestic product by 2027.According to its latest Budget and Economic Outlook, the CBO’s estimate of the 2017 deficit is now $559 billion...

By Matthew Heller • Jan. 25, 2017

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Tax policy shifts: What CFOs need to know to stay ahead

Discover how evolving tax policies are creating new opportunities and challenges for CFOs.

By CFO.com staff

RAND Corp. Taps Nonprofit Veteran as Finance Chief

Continuing the direction of his career shift to the nonprofit sector after more than two decades working for public companies, Michael Januzik has been named CFO of the RAND Corporation, the large public-policy think tank.Michael Januzik NonprofitBefore moving to RAND, which operates in 53 countr...

By David Katz • Jan. 17, 2017

U.S. Retail Sales End Year With 0.6% Increase

U.S. retail sales posted another strong month to end 2016, powered by strong demand for autos and a jump in spending by online shoppers.The Commerce Department said retail sales increased 0.6% last month after rising 0.2% in November. Sales were up 4.1% from December 2015 and rose 3.3% for all of...

By Matthew Heller • Jan. 17, 2017

Weekly Jobless Claims Rise Slightly to 247,000

The number of Americans making initial claims for state unemployment benefits rose in the first week of 2017 but remained near the lowest level in decades.The Labor Department said Thursday that initial jobless claims, a proxy for layoffs, increased 10,000 to a seasonally adjusted 247,000 for the...

By Matthew Heller • Jan. 13, 2017

Wages Post Biggest Gain Since Recession

Employers added fewer jobs than expected in December but the economic recovery passed a major milestone as the average hourly wages of U.S. workers showed the biggest annual gain since June 2009.The Labor Department reported that nonfarm payrolls grew by 156,000 jobs last month. Economists had fo...

By Matthew Heller • Jan. 9, 2017

Panel Warns of China’s Threat to Chipmakers

Chinese industrial policies pose a “real threat” to the U.S. semiconductor industry, according to a report by a presidential panel that recommends the U.S. respond by stepping up the pace of innovation.The Chinese government unveiled a plan in 2014 to achieve a leadership position in the chip ind...

By Matthew Heller • Jan. 6, 2017

Weekly Initial Jobless Claims Drop Sharply

The number of Americans making initial claims for state unemployment benefits dropped last week to the second lowest level in four decades, underscoring the strength of the labor market.The Labor Department said initial jobless claims, a proxy for layoffs, dropped 28,000 to a seasonally adjusted ...

By Matthew Heller • Jan. 6, 2017

U.S. Factory Activity Surges to Two-Year High

U.S. manufacturing activity rose to a two-year high last month amid a sharp increase in new orders, according to the Institute for Supply Management.In its latest Report on Business, the ISM said its index of national factory activity rose 1.5 percentage points to 54.7 last month, the highest lev...

By Matthew Heller • Jan. 4, 2017

Ford Chooses U.S. Investment Over Mexico Plan

One of President-elect Donald Trump’s campaign predictions came true Tuesday as Ford Motor announced it is scrapping a plan to build a $1.6 billion factory in Mexico and will instead invest $700 million in a Michigan plant.The automaker had planned to build small cars at the proposed factory in S...

By Matthew Heller • Jan. 3, 2017

Trump Touts Sprint, OneWeb Job Creation Moves

Job creation was a major theme of Donald Trump’s presidential campaign — and he continues to not be shy about taking credit for positive job news.The president-elect told reporters earlier this week that Sprint and OneWeb, a satellite manufacturer, will hire 8,000 people in the United States.Spri...

By Matthew Heller • Dec. 30, 2016

U.S. Goods Trade Deficit Rises 5.5% to $65.3B

The U.S. trade deficit in goods widened in November amid a drop in exports and rising imports, suggesting the challenge awaiting President-elect Donald Trump as he tries to fulfill his campaign pledge to reduce the trade shortfall.In an initial estimate that does not include trade in services, th...

By Matthew Heller • Dec. 29, 2016

Consumer Optimism Continues Post-Election Surge

The post-election surge in optimism over the economy spilled into December, sending The Conference Board’s consumer confidence index to a post-recession high.The index rose to 113.7 in December from an upwardly revised 109.4 in November, topping the July 2007 high of 111.9.According to Lynn Franc...

By Matthew Heller • Dec. 28, 2016

Home Prices in Major Cities Rise 5.1% in October

Home prices in 20 major U.S. cities posted another solid gain in October, while a nationwide index showed prices rising to their highest levels since the financial crisis.According to the latest S&P CoreLogic Case-Shiller numbers, the 20-city index rose 5.1% compared to a year earlier. The ga...

By Matthew Heller • Dec. 27, 2016

GDP Posts Fastest Growth in Two Years in Q3

The U.S. economy grew faster than initially thought in the third quarter though economists are anticipating a slowdown in the final quarter of the year.Gross domestic product increased at a 3.5% annual rate instead of the previously reported 3.2% pace, the Commerce Department said in its third GD...

By Matthew Heller • Dec. 23, 2016

U.S. Sues Barclays Over $30B in Toxic RMBS

Federal prosecutors on Thursday charged Barclays Bank with deceiving investors into acquiring more than $30 billion in mortgage securities that were backed by loans it knew were defective.The Department of Justice filed a civil complaint against the bank after talks about a possible settlement br...

By Matthew Heller • Dec. 22, 2016

ACA Is a Bane to Smaller Companies

For many small businesses, plans regarding health-care benefits are tinged with uncertainties entering Donald Trump’s presidency. What is certain is that, absent significant changes, the Affordable Care Act must be repealed.JoAnn Laing smaller companiesIn the run-up to the presidential election, ...

By JoAnn Laing • Dec. 15, 2016

Retail Sales Growth Slows to 0.1% Last Month

After two months of robust growth, U.S. retail sales cooled in November but retailers are still anticipating a solid holiday season.The Commerce Department said retail sales increased 0.1% to $465.5 billion last month after gaining a revised 0.6% in October and 1.% in September. Economists had be...

By Matthew Heller • Dec. 15, 2016

Import Prices Drop 0.3% After Two Straight Gains

U.S. import prices recorded their biggest decline in nine months in November, primarily due to lower fuel costs, though non-fuel import prices dropped for a second consecutive month.The Labor Department said import prices fell 0.3% last month after two straight months of increases. The October ga...

By Matthew Heller • Dec. 14, 2016

Fed Raises Benchmark Interest Rate by 0.25%

The U.S. Federal Reserve, as expected, raised interest rates on Wednesday for the first time in a year and also indicated it would quicken the pace of further increases in the coming years.The Fed’s Open Market Committee voted unanimously to raise the key federal funds rate by a quarter point, fr...

By Matthew Heller • Dec. 14, 2016

Industrial Production Falls 0.4% in November

U.S. industrial production eased off more than expected last month, posting its largest decline since March, though the mining sector showed signs of stabilizing.The Federal Reserve said the measure of everything made by factories, mines and utilities declined 0.4% from a month earlier. Economist...

By Matthew Heller • Dec. 14, 2016

Consumer Sentiment Gets Post-Election Boost

Donald Trump’s election victory has given a boost to consumer sentiment about the U.S. economy, which in December reached its highest level in nearly two years.The University of Michigan’s latest survey of consumers showed a preliminary index of consumer sentiment reading of 98.0, up nearly 4.5% ...

By Matthew Heller • Dec. 12, 2016

Trump Win Boosts U.S. Business Optimism

U.S. CFOs are much more optimistic about the U.S. economy following the election of Donald Trump, particularly with respect to regulatory and tax reform, according to the latest Duke University/CFO Global Business Outlook. But many companies are still waiting to see the details before taking spec...

By CFO Editorial Staff • Dec. 7, 2016

Unit Labor Costs Surge 0.7% in Third Quarter

U.S. productivity in the third quarter remained unchanged from the government’s initial estimate but unit labor costs rose more than first thought.The Labor Department on Tuesday confirmed that productivity, which measures hourly output per worker, rose at a 3.1% annual rate for the July-Septembe...

By Matthew Heller • Dec. 7, 2016

U.S. Employers Add 178,000 Jobs in November

U.S. employers maintained their steady pace of hiring in November while the unemployment rate dropped to its lowest level in more than nine years.The Labor Department said non-farm payrolls increased by 178,000 jobs last month, up from a downwardly revised 142,000 in October. The gain was in line...

By Matthew Heller • Dec. 5, 2016