Economics News Results

  • Fed's Rosengren says need to keep buying MBS, Treasuries

    Federal Reserve Bank of Boston President Eric Rosengren said on Friday he welcomes President-elect Joe Biden's proposed $1.9 trillion stimulus package as "big" but "appropriate," and signaled the Fed has no inclination to dial back from its own super-easy monetary policy.

  • NRF Says 2020 Holiday Sales Grew 8.3 Percent Despite Pandemic

    Retail sales during 2020’s November-December holiday season grew an unexpectedly high 8.3 percent over the same period in 2019 to $789.4 billion, exceeding the National Retail Federation’s holiday forecast despite the economic challenges of the coronavirus pandemic, NRF said today.

  • BRIEF-NRF Says 2020 Holiday Sales Grew 8.3% Despite Pandemic

    National Retail Federation. * NRF SAYS 2020 HOLIDAY SALES GREW 8.3 PERCENT DESPITE PANDEMIC. * NRF SAYS BELIEVE PRESIDENT-ELECT BIDEN'S STIMULUS PROPOSAL, FURTHER AID FOR SMALL, WILL KEEP ECONOMY GROWING. * NRF SAYS CONSUMERS WERE ABLE TO SPLURGE ON HOLIDAY GIFTS BECAUSE OF INCREASED MONEY IN THEIR BANK ACCOUNTS FROM STIMULUS PAYMENTS THEY RECEIVED.

  • Biden Stimulus Adds Fuel to Copper Rally

    Investors are ramping up wagers that the Biden administration's focus on economic stimulus and electric vehicles will turbocharge a monthslong climb in copper and other industrial metals. Even though they slid alongside other commodities Friday, most actively traded copper futures are still up more than 2% so far in 2021 and near their highest level since early in 2013. They have been lifted by buoyant demand from China and wagers that an improving global economy will...

  • U.S. consumer sentiment slips but shows massive partisan divide

    U.S. consumer sentiment dipped in early January as Americans reacted to the assault on the U.S. Capitol and a relentless surge in COVID-19 infections and deaths, the University of Michigan said on Friday in a report that also showed a deep partisan divide in views on the economy and outlook.

  • U.S. Consumer Confidence Ticks Down in Early January

    Consumer confidence in the U.S. fell slightly in early January, data from the University of Michigan survey of consumers showed Friday. The preliminary estimate of the index of consumer sentiment was 79.2 in January, down from 80.7 in December. Economists surveyed by The Wall Street Journal had expected the indicator to come in at a similar 79.4.

  • U.S. business inventories rise in November

    U.S. business inventories increased in November, supporting expectations that inventory investment was likely the main driver of economic growth in the fourth quarter. Business inventories rose 0.5% in November after increasing 0.8% in October, the Commerce Department said on Friday. Retail inventories rose 0.7% in November as estimated in an advance report published last month.

  • U.S. Industrial Production Rose 1.6% in December

    U.S. industrial production increased solidly in December, providing a source of strength for the U.S. economy as consumer spending and employment gains slow. Industrial production, a measure of factory, mining and utility output, increased a seasonally adjusted 1.6% in December, the Federal Reserve said Friday. Economists surveyed by The Wall Street Journal expected a 0.5% rise.

  • Canadian home sales soar in December to cap record year, CREA says

    Canadian home sales jumped 7.2% in December from November, setting a new record amid surging demand in the Greater Toronto and Vancouver areas, the Canadian Real Estate Association said on Friday. The industry group said actual sales, not seasonally adjusted, rose 47.2% from a year earlier, while the group's Home Price Index was up 13.0% on a year-over-year basis and up 1.5% from November.

  • U.S. manufacturing output accelerates in December

    U.S. manufacturing output increased more than expected in December, but disruptions to the supply chain as the relentless pandemic keeps some workers at home could slow production in the months ahead. Manufacturing production rose 0.9% last month after advancing 0.8% in November, the Federal Reserve said on Friday.

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