Choochart Choochaikupt | Istock | Getty ImagesAmerican consumers are worried about access to credit amid persistently higher interest rates and tighter standards at banks, according to a New York Federal Reserve survey released Monday.Respondents indicating that the ability to get loans, credit cards and mortgages is harder now than...
The unemployment rate rose sharply in August, as the summer of 2023 neared a close with a job market in slowdown mode.Nonfarm payrolls grew by a seasonally adjusted 187,000 for the month, above the Dow Jones estimate for 170,000, the U.S. Bureau of Labor Statistics reported Friday.However, the unemployment...
Commuters arrive into the Oculus station and mall in Manhattan, New York, Nov. 17, 2022.Spencer Platt | Getty ImagesThe amount of money most workers want now to accept a job reached a record high this year, a sign that inflation is alive and well at least in the labor...
Consumer spending held up well in July as inflation slowed, with retail sales turning in a stronger-than-expected showing for the month, the Commerce Department reported Tuesday.The advanced retail sales report showed a seasonally adjusted increase of 0.7% for the month, better than the 0.4% Dow Jones estimate. Excluding autos,...
A measure of wholesale prices rose more than expected in July, countering recent trends showing that inflation pressures are easing.The producer price index, which gauges the costs that goods and services producers receive for their products as opposed to those that consumers pay, rose 0.3% for the month, the...
Gas station signboards display prices in Bethesda, Maryland on August 6, 2023.Mandel Ngan | AFP | Getty ImagesThursday's consumer price index report likely will show that the pace of price increases is easing, but not enough to get the Federal Reserve to retreat on its inflation fight.If the Wall...
The consumer price index rose 3.2% from a year ago in July, a sign that inflation has lost at least some of its grip on the U.S. economy.Prices accelerated a seasonally adjusted 0.2% for the month, in line with the Dow Jones estimate, the Bureau of Labor Statistics reported...
Jose Luis Pelaez Inc | Digitalvision | Getty ImagesAmericans increasingly turned to their credit cards to make ends meet heading into the summer, sending aggregate balances over $1 trillion for the first time ever, the New York Federal Reserve reported Tuesday.Total credit card indebtedness rose by $45 billion in...
JPMorgan Chase economists on Friday bailed on their recession call, joining a growing Wall Street chorus that now thinks a contraction is no longer inevitable.While noting that risks are still high and growth ahead is likely to be slow, the bank's forecasters think the data flow indicates a soft...
Job growth in July was less than expected, pointing to a slower pace in the U.S. economy though perhaps not a long-anticipated recession, the Labor Department reported Friday.Nonfarm payrolls expanded by 187,000 for the month, slightly below the Dow Jones estimate for 200,000. Though the headline number was a...