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,...
Five Things to Watch For in March’s Advance Retail Sales Report
The Commerce Department will release the advance retail sales report for March on April 15 at 8:30 am ET. Economists expect strong gains to persist, a signal the recovery is gaining steam as vaccine rollout accelerates and restrictions ease. Here are five things to...
January home prices hit a record high, not seen in 15 years
Home prices continued to increase in January, indicating the pandemic housing boom continued into the new year because of the shrinking inventory of homes for sale and low mortgage rates. Nationally, home prices in January rose 11.2% from a year earlier, the highest...
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...
Stringent credit guidelines can cause obstacles for Black homebuyers
April Rice had always dreamed of becoming a homeowner. Recently promoted to analyst at a brokerage firm, Rice, 33, decided to start the process in November 2019. She contacted a mortgage broker, without a doubt that her $60,000 annual salary and 713 credit score would...
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...
Despite Retail Sales Trickling Down In February, Spending is Expected to Rise
Retail sales fell in February, a sign that consumers are being cautious about spending, but the slump is unlikely to last long as a new round of stimulus checks begins to hit the economy. Sales fell 3 percent from the prior month, the Census Bureau said Tuesday. That...