Commerce Department

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