Commerce Department

BRUSSELS | EU to react swiftly if Trump slaps tariffs on EU cars

BRUSSELS (AP) — The European Union says that its reaction will be “swift and adequate” if U.S. authorities conclude that European cars are a threat to national security and should be hit with punitive tariffs. The U.S. Commerce Department is expected to issue soon an opinion on whether auto imports endanger U.S. national security enough … Continue reading BRUSSELS | EU to react swiftly if Trump slaps tariffs on EU cars

WASHINGTON | US trade deficit narrows in November

WASHINGTON (AP) — The U.S. trade deficit fell 11.5 percent in November to the lowest level since June. The Commerce Department said Wednesday the gap between what the United States sells and what it buys from other countries dropped to $49.3 billion from a revised $55.7 billion in October. American exports fell 0.6 percent to … Continue reading WASHINGTON | US trade deficit narrows in November

WASHINGTON | US durable goods orders up 0.8 pct., led by defense spending

WASHINGTON — Orders to U.S. factories for long-lasting goods rose at a modest pace last month, but the gain was driven entirely by demand for military aircraft. Excluding transportation equipment, orders fell. The Commerce Department said Friday that durable goods orders rose 0.8 percent in November, following a sharp fall of 4.3 percent the previous … Continue reading WASHINGTON | US durable goods orders up 0.8 pct., led by defense spending

WASHINGTON | US home construction rose last month, led by apartments

WASHINGTON — U.S. developers broke ground on more homes last month, but the increase occurred entirely in apartments. The construction of new single-family houses fell. The Commerce Department said Tuesday that housing starts rose 3.2 percent in November from the previous month to a seasonally adjusted annual rate 1.26 million. Despite the increase, that is … Continue reading WASHINGTON | US home construction rose last month, led by apartments

WASHINGTON | Record imports push US trade gap to $55.5 billion in October

WASHINGTON — Record imports in October drove the U.S. trade deficit to the highest level in a decade. The Commerce Department said Thursday that the gap between the United States sells and what it buys from foreign countries hit $55.5 billion in October, the fifth straight increase and highest since October 2008. The politically sensitive … Continue reading WASHINGTON | Record imports push US trade gap to $55.5 billion in October

WASHINGTON | US new-home sales plunged 8.9 percent in October

WASHINGTON — Sales of new U.S. homes plummeted 8.9 percent in October, as the number of newly built, unsold homes sitting on the market climbed to its highest level since 2009. The Commerce Department said Wednesday that new homes sold at a seasonally adjusted annual rate of 544,000 last month. New-home sales have declined in … Continue reading WASHINGTON | US new-home sales plunged 8.9 percent in October

WASHINGTON | US durable goods orders fall 4.4 percent in October

WASHINGTON — Orders to U.S. factories for big-ticket manufactured goods fell by the largest amount in 15 months with a key category that tracks business investment showing weakness for a third straight month. The Commerce Department said Wednesday that orders for durable goods dropped 4.4 percent last month. It was the third decline in the … Continue reading WASHINGTON | US durable goods orders fall 4.4 percent in October

WASHINGTON | US home construction rose 1.5 percent in October

WASHINGTON  — U.S. home construction improved a slight 1.5 percent in October, but in a troubling sign, ground breakings for single-family houses fell. The Commerce Department said Tuesday housing starts rose to a seasonally adjusted annual rate of 1.23 million, up from 1.21 million in September. The gains came entirely from apartments. Starts for single-family … Continue reading WASHINGTON | US home construction rose 1.5 percent in October

WASHINGTON | US retail sales rose a solid 0.8 percent last month

WASHINGTON— U.S. retail sales rose at a healthy pace in October, though the gains were likely boosted by one-time factors such as hurricane recovery spending and higher gas prices. The Commerce Department said Thursday that retail sales rose a seasonally adjusted 0.8 percent last month, following two months of slight declines. Excluding gasoline sales, which … Continue reading WASHINGTON | US retail sales rose a solid 0.8 percent last month

WASHINGTON | US consumer spending up inflation-adjusted 0.3 percent

WASHINGTON — U.S. consumer spending rose in September by a solid, inflation-adjusted 0.3 percent, led by increased spending on health care services and motor vehicles. The Commerce Department also said Monday that the Federal Reserve’s preferred measure of inflation returned to the central bank’s 2 annual percent target after having been slightly elevated in prior … Continue reading WASHINGTON | US consumer spending up inflation-adjusted 0.3 percent

NEW YORK | A day after a rout, US stocks turn higher on solid earnings

NEW YORK — Strong results from major companies including Microsoft, Visa and Comcast are sending U.S. stocks higher Thursday morning as the market found its footing after three weeks of steep declines. The S&P 500 index rose 1 percent. It plunged 9 percent since early this month as investors worried about climbing interest rates and … Continue reading NEW YORK | A day after a rout, US stocks turn higher on solid earnings

US stocks slide as traders weigh earnings; oil rises

U.S. stocks fell sharply in morning trading Wednesday, adding to losses from a day earlier. Technology and internet companies and banks took the heaviest losses. Investors bid up shares in utilities, real estate companies and other high-yield stocks. Homebuilders declined after the government said sales of new U.S. homes declined in September for the fourth … Continue reading US stocks slide as traders weigh earnings; oil rises

WASHINGTON | US new-home sales slump for 4th straight month

WASHINGTON — Sales of new U.S. homes plunged 5.5 percent in September, the fourth straight monthly drop as the housing market cools with mortgage rates rising. The Commerce Department said Wednesday that newly built homes sold at a seasonally adjusted annual rate of 553,000 last month. New-home sales in August were downwardly revised, erasing the … Continue reading WASHINGTON | US new-home sales slump for 4th straight month

WASHINGTON | Record imports push US trade gap to $53.2 billion in August

WASHINGTON — Record imports drove the U.S. trade deficit up for the third straight month in August. The deficit in the trade of goods with China and Mexico hit records. The Commerce Department said Friday that the trade gap — the difference between what America sells and what it buys abroad — rose to $53.2 … Continue reading WASHINGTON | Record imports push US trade gap to $53.2 billion in August

WASHINGTON | US consumer spending up modest 0.3 percent in August

WASHINGTON — U.S. consumer spending edged up a moderate 0.3 percent in August, the smallest gain in six months, as purchases of cars and other durable goods fell. A key gauge of inflation slowed slightly after posting its biggest annual gain in six years. The Commerce Department said Friday that the rise in spending was … Continue reading WASHINGTON | US consumer spending up modest 0.3 percent in August

WASHINGTON | August orders for US durable goods jump 4.5 percent

WASHINGTON— Orders for long-lasting U.S. factory goods rose at a healthy pace last month, though the increase was mostly driven by a surge in aircraft demand. The Commerce Department said Thursday that orders increased 4.5 percent in August, the most in six months. Excluding aircraft, cars, and other transportation equipment, however, orders increased just 0.1 … Continue reading WASHINGTON | August orders for US durable goods jump 4.5 percent

WASHINGTON | US new-home sales rose 3.5 percent in August

WASHINGTON— Sales of new U.S. homes climbed 3.5 percent in August, snapping a two-month decline as buying surged in the pricey Northeast and West housing markets. The Commerce Department said Wednesday that newly built homes sold at a seasonally adjusted annual rate of 629,000 last month. Sales of new homes have advanced 6.9 percent this … Continue reading WASHINGTON | US new-home sales rose 3.5 percent in August

WASHINGTON | US durable goods orders fell 1.7 percent in July

WASHINGTON — Orders for long-lasting U.S. factory goods fell 1.7 percent in July, the third decrease in the past four months. The Commerce Department said Friday that durable goods orders — items meant to last at least three years such as autos and appliances — totaled $246.9 billion last month. Much of that decline came … Continue reading WASHINGTON | US durable goods orders fell 1.7 percent in July

WASHINGTON | US new-home sales fell 1.7 percent in July

WASHINGTON  — Sales of new U.S. homes slumped 1.7 percent in July, the second straight monthly decline as the broader housing market appears to have lost some of its momentum despite an otherwise solid economy. The Commerce Department said Thursday that newly built homes sold at a seasonally adjusted annual rate of 627,000 last month, … Continue reading WASHINGTON | US new-home sales fell 1.7 percent in July

WASHINGTON | July housing starts up a slight 0.9 percent as tariffs bite

WASHINGTON  — U.S. housing starts ticked up just 0.9 percent in July, a sign that higher construction costs might be weighing on homebuilders. The Commerce Department said Thursday that housing starts last month rose to a seasonally adjusted annual rate of 1.17 million, not nearly enough to reverse the steep 12.9 percent plunge seen in … Continue reading WASHINGTON | July housing starts up a slight 0.9 percent as tariffs bite

US housing starts rose a slight 0.9 percent in July

WASHINGTON/ August 16, 2018 (STL.News)— U.S. housing starts ticked up just 0.9 percent in July, a sign that higher construction costs might be weighing on homebuilders. The Commerce Department said Thursday that housing starts last month rose to a seasonally adjusted annual rate of 1.17 million, not nearly enough to reverse the steep 12.9 percent … Continue reading US housing starts rose a slight 0.9 percent in July

WASHINGTON | S retail sales rose at robust 0.5 pct. annual rate in July

WASHINGTON — Americans shopped at a healthy pace in July, buying more cars, clothes and appliances, evidence that consumers are helping drive robust economic growth. Retail sales rose at a 0.5 percent annual rate in July, after a 0.2 percent increase the previous month, the Commerce Department said Wednesday. June’s increase, though, was revised lower … Continue reading WASHINGTON | S retail sales rose at robust 0.5 pct. annual rate in July

WASHINGTON | US construction spending fell 1.1 percent in June

WASHINGTON — Spending on U.S. construction projects fell 1.1 percent in June, the biggest decline in more than a year as spending on public construction dropped at the highest rate in more than five years. The decline in June brought total construction spending to a seasonally-adjusted $1.32 trillion, 6.1 percent higher than a year ago, … Continue reading WASHINGTON | US construction spending fell 1.1 percent in June

US construction spending fell 1.1 percent in June

WASHINGTON/ August 1, 2018 (STL.News) — Spending on U.S. construction projects fell 1.1 percent in June, the biggest decline in more than a year as spending on public construction dropped at the highest rate in more than five years. The decline in June brought total construction spending to a seasonally-adjusted $1.32 trillion, 6.1 percent higher … Continue reading US construction spending fell 1.1 percent in June

WASHINGTON | US pending home sales rose 0.9 percent in June

WASHINGTON  — More Americans signed contracts to purchase homes in June compared to May, but the volume of pending sales has slipped over the past year. The National Association of Realtors said Monday that its pending home sales index rose 0.9 percent last month to 106.9. But on a yearly basis, pending home sales have … Continue reading WASHINGTON | US pending home sales rose 0.9 percent in June

WASHINGTON | Rising backlash as US firms seek Trump’s steel tariff waiver

WASHINGTON — U.S. companies seeking to be exempted from President Donald Trump’s tariff on imported steel are accusing American steel manufacturers of spreading inaccurate and misleading information, and they fear it may torpedo their requests. Robert Miller, president and CEO of NLMK USA, said objections raised by U.S. Steel and Nucor to his bid for … Continue reading WASHINGTON | Rising backlash as US firms seek Trump’s steel tariff waiver

WASHINGTON | AP FACT CHECK: Trump skews claims on economy, GDP growth

WASHINGTON — President Donald Trump is prematurely claiming he proved naysayers wrong in boosting U.S. economic growth. Speaking at events Thursday in Iowa and Illinois, Trump claimed victory in advance of Friday’s government release of quarterly gross domestic product data, saying “nobody thought we were going to be this great” and that when he became … Continue reading WASHINGTON | AP FACT CHECK: Trump skews claims on economy, GDP growth

WASHINGTON | New-home sales fall 5.3 pct in June … a warning light?

WASHINGTON  — Sales of new U.S. homes tumbled 5.3 percent in June and the median sales price also slipped, a potentially ominous sign for the U.S. housing market. The Commerce Department said Wednesday that newly built homes sold at a seasonally adjusted annual rate of 631,000 last month, less than May’s revised figure of 666,000. … Continue reading WASHINGTON | New-home sales fall 5.3 pct in June … a warning light?

WASHINGTON | Analysts: Trump tariff threats unlikely to yield trade deals

WASHINGTON — With President Donald Trump intensifying his rift with U.S. trading partners, economists are growing more doubtful that any deal that might benefit American workers and companies is in sight. Instead, many analysts say they expect the Trump administration to impose more tariffs on China and potentially other key U.S. trading partners. With those … Continue reading WASHINGTON | Analysts: Trump tariff threats unlikely to yield trade deals