Economics News Results

  • U.S. factory orders flat in February

    Factory orders were unchanged in February, after a 0.5% drop in the prior month, the Commerce Department said Thursday. Economists were expecting a 0.2% rise. Durable goods rose 1.2%, unrevised from last week's initial reading.

  • Millions of jobless Americans to apply for unemployment benefits for second straight week

    Coronavirus could drive unemployment to modern record high. If the 3.3 million spike in jobless claims in mid-March wasn't shocking enough, the number of Americans who applied for unemployment benefits last week is likely to soar even higher. Some 4 million people who've been laid off or furloughed may have successfully applied for unemployment benefits in the seven-day period from March 22 to March 28, according to economists surveyed by MarketWatch.

  • These housing markets are in danger of a coronavirus-related recession

    Housing counties that could be most at risk in the worsening financial crisis. Just about everyone has been affected by the coronavirus pandemic--and the crisis, according to most experts, is only beginning to play out in many parts of the U.S. America now has the most confirmed COVID-19 cases in the world.

  • Construction spending weak in February

    Outlays for construction projects fell 1.3% in February at a seasonally adjusted annual rate of $1.37 trillion, the Commerce Department reported Wednesday. Economists polled by MarketWatch had expected a 0.7% gain. Spending in January was revised to a 2.8% rise from the prior estimate of a 1.8% increase.

  • Here's how to track the mounting damage to the U.S. economy from the coronavirus

    Unemployment--and applications for benefits--are soaring. Millions of people are losing their jobs and unemployment is soaring. The mounting devastation to the economy from the coronavirus is becoming starkly visible to households across the nation.

  • Consumer confidence sinks in March to 32-month low and it's going to keep falling

    Consumer confidence index drops to 120 in March from 132.6. The numbers: Consumers started to rapidly lose confidence in the economy in March as a deadly coronavirus spread, a new survey shows, and it's likely to plunge a lot more in the months ahead as millions are thrown out of work and the U.S. sinks into recession. The closely followed index of consumer confidence fell to 120 in March from a revised 132.6 in February, the Conference Board said Tuesday.

  • The $2 trillion stimulus deal will help people filing for unemployment benefits -- here's how

    A record 3.28 million people filed jobless claims in mid-March. Those workers will get extra money from the federal government. Millions of people who have suddenly lost their jobs as a result of the economic damage wrought by the coronavirus will be getting additional unemployment benefits from the federal government, according to the relief bill that President Donald Trump signed on Friday.

  • Here's how the Fed is funneling $4 trillion of funds to the real economy

    Fed officials say they will use banks to funnel funds into small and medium businesses. Small and medium businesses are set to become the next target of the Federal Reserves measures to open up the flow of credit throughout an economy that has threatened to freeze up over the coronavirus pandemic which has shutdown businesses across the country. Fed officials say its Main Street Business Lending program will use banks as a conduit to funnel short-term financing to firms so that...

  • Fed officials sound upbeat on outlook but admit to some uncertainty

    Dallas Fed sees jobless rate jumping to' low-to-mid teens'. Two senior Federal Reserve officials tried to be upbeat about the economic outlook on Friday but acknowledged it is hard to predict when the economy will be able to spring back to life after the shutdown ends. "In this environment... forecasts are really difficult to do," said Atlanta Fed President Raphael Bostic, in an interview on Bloomberg television.

  • Consumer sentiment sinks to lowest level since 2016 as coronavirus wreaks havoc on the economy

    Consumers turn from optimistic to pessimistic almost overnight. The numbers: Consumers rapidly lost confidence in the economy toward the end of March as the coronavirus pandemic spread and the U.S. resorted to unprecedented tactics to slow it down. The final results for the consumer sentiment index fell 89.1 in March from a preliminary 95.9 and 101.0 in the prior month, according to the University of Michigan.

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