Business investment fell in February and faces a grim outlook amid the pandemic

Businesses ordered less equipment in February, an early sign of the supply chain disruptions to the manufacturing sector from the coronavirus pandemic last month that are only projected to get worse as the ripple effects spread deeper into the economy. Orders for core...

Retail Sales in February Showed First Signs of Slowing due to Covid-19

In another sign that coronavirus disrupted consumer spending, February’s numbers show initial slipping in retail sales downward after a slight tick up in January. Down 0.5%, numbers released from the Commerce Department show how American shoppers frequented department...

The Subsidy Gamble: New York state is betting big on Tesla

Anthony Dalessio was in high school when Republic Steel left town in 1984.  The steel mill, one of the largest in the country, had been one of Buffalo’s largest employers through the 1950s and 60s. But as globalization moved manufacturing jobs overseas, Republic Steel...

Income edges up to start year as coronavirus effects remain uncertain

Incomes rose and spending slowed in the United States to start the year, suggesting that consumers were saving money even before the coronavirus began to spread globally. Personal income rose 0.6% in January, its largest jump since February of 2019, according to data...

Home prices finish strong in December, S&P CoreLogic Case-Shiller reports

Home price growth accelerated in December, reflecting buyer confidence despite an inadequate supply of homes and marking the end of another year of growth in US home prices. The S&P CoreLogic Case-Shiller U.S. National Home Price Index reported a 3.8% annual gain...

Coronavirus pumps the brakes on U.S. manufacturing

U.S. manufacturing grew modestly in February, even as the coronavirus outbreak began disrupting global supply chains. For a sector still vulnerable from a two year trade war, it may be the last good news for a while.

Retail Sales Were Slightly Up in January, But Store Sales Slowed

U.S. retail sales picked up slightly in January, boosted by warm weather and cheaper gas prices. But apparel and department store sales kept slowing, a sign that consumers may not be able to maintain economic growth. Overall, seasonally-adjusted retail sales rose 0.3%...

As the retail industry transitions, a good economy provides relief for retail workers

Joel Porras has been working at Bonobos, an e-commerce clothing subsidiary of Walmart for the past two years. As a sales associate, he guides clients into making their clothing choices when they come in to shop. But he graduated with a degree in Media Studies from...

Trump’s trade war is putting pressure on homebuilders

After tariffs on lumber and steel went into effect, the cost for Paul Schwinghammer to operate his Indiana-based home building and renovation company soared. “In the last two to two and a half years, our prices are up about 20 percent,” said Schwinghammer who is...

Jobs jump in April, in 103rd straight month of growth

Hiring jumped in April, with unemployment down to its lowest rate in decades, giving President Trump continued political fodder while he takes credit for economic growth. Nonfarm payrolls increased by 263,000 in April, the Labor Department said Friday, solidifying a...