February trade gap largest on record, a sign of the US wobbling back towards normalcy

The U.S. trade deficit hit a record high in February, the result of increased consumer spending during the recovery from the COVID-19 pandemic and the corresponding economic crisis. Imports and exports both fell in February, resulting in a trade gap of $71.1 billion,...

Keeping a Digital Door: Small Business Owners Could Make Lasting Changes

When the pandemic hit and Cindy Lopez had to shut down the 48-year-old bakery and restaurant she runs with her husband in Milwaukee, she worried she would have to close their business for good.  She fell behind on rent. She cut employees’ pay. She faced anxiety...

RV Retail Sales Are Breaking Records Despite Manufacturing Delays

Jennifer Peters was looking for another quarantine project and a bit of an escape at the start of the year. When the offer to buy a NASCAR-sticker-covered 2001 Damon Daybreak RV fell into her lap in February, she and her husband jumped on the opportunity. “My kids are...

The March Jobs Report May Signal a Post-Covid Boom

A year after the pandemic devastated the job market, federal data to be released next Friday will likely show a labor market that’s beginning to claw its way out of a coronavirus recession hole. Economists expect the jobs report to show significant growth for March,...

Consumer Spending Fell, But a Comeback Is Imminent

Waning federal aid and severe winter storms curtailed spending last month, but Americans are poised to reopen their wallets as vaccinations progress and more stimulus money lifts household incomes. Consumer spending dropped 1 percent in February, slightly more than...

February Winter Storms Decrease Durable Goods For The First Time In Nine Months

Long-lasting goods orders in February showed the first decrease in nine months, but economists say to take this report with a grain of salt.  Orders for manufactured durable goods fell 1.1% from January, a modest loss of $2.9 billion, the Census Bureau reported on...

Trade deficit widens as U.S. economy tries to shake off the pandemic’s vise grip

The U.S. trade gap widened in January, the result of increased consumer spending as the economy recovers from the COVID-19 economic crisis. The trade deficit was $68.2 billion in January, up 1.9 percent over December’s seasonally adjusted numbers, the Commerce...

Income and Spending Skyrocket, Foreshadowing Economic Regrowth

Pandemic relief lifted U.S. household incomes to historic heights, and consumers boosted retail spending to its largest increase in seven months, signaling early signs of economic recovery.  Household income spiked 10 percent in January, the Commerce Department...

January Increase in Durable Goods Has Led to a Decrease in Inventory

American households and businesses ordered more long-lasting goods in January, a sign that the COVID-19 pandemic hasn’t slowed down consumer or business spending. The Department of Commerce said Thursday that the growth rate increased 3.4% on long-lasting goods like...

Home Prices Continued to Soar in December

Home prices continued to increase in December, signaling a high demand for single-family homes because of low mortgage rates and a shrinking supply of homes for sale.   Nationally, home prices in December rose 10.4% from a year earlier, according to the S&P...