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Rising labor costs indicate that inflation is here to stay

Increased labor costs in the U.S. for the second quarter indicate that high inflation could continue even after 2021 as global supply chains remain strained.  The Labor Department said on Friday that ...

By  Yashasvini On  2021-07-31 02:49:00
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Key U.S. inflation index rises to 3.5% in June, consumer spending also rises

The Personal Consumption Expenditure (PCE) index rose 3.5% year-on-year in June, slightly below the 3.6% estimate. The gain was slightly ahead of the 3.4% May increase. This measure is closely tracked...

By  Yashasvini On  2021-07-31 01:05:00
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Consumer sentiment in U.S drops in July amid inflation concerns

Consumer sentiment in the United States dropped to a five-month low in July as inflation worries weakened confidence about future economic development, according to a study released on Friday. The fin...

By  Ishika Dangayach On  2021-07-30 23:56:00
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U.S. consumer spending increased in June, bolstered by services

Consumer spending in the United States increased in June, like vaccines against COVID-19 increased demand for travel-related services. Consumer spending, which accounts for more than two-thirds of all...

By  Ishika Dangayach On  2021-07-30 22:25:00
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U.S. GDP grew 6.5 percent in second quarter, indicating recovery from the pandemic

The United States GDP increased at an annual rate of 6.5 percent in the second quarter, up marginally from the first quarter, indicating that the country has escaped the clutches of the Covid-19 pande...

By  Ishika Dangayach On  2021-07-29 21:15:00
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Fed says economy has strengthened even with Delta variant, keeps rate near-zero

The U.S. Federal Reserve on Wednesday kept its benchmark interest rate unchanged and said the economy continues to strengthen despite concerns over the Delta variant of COVID-19. The Open Market Commi...

By  Arghyadeep On  2021-07-29 01:42:00
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U.S. mortgage rates fall to their lowest since February, applications rise

U.S. mortgage rates fell to their lowest level since February, sending homeowners to lenders and borrowers to the bank, to refinance and save money on their monthly payments. The Mortgage Bankers Asso...

By  Yashasvini On  2021-07-29 01:10:00
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U.S. goods trade deficit increases as imports continue to climb

The goods trade deficit in the United States rose in June as imports continued to rise amid strong economic activity, suggesting that trade would likely continue to be a drag on GDP in the second quar...

By  Ishika Dangayach On  2021-07-28 21:30:00
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Rising coronavirus cases & supply chain bottlenecks underline the Fed’s inflation dilemma

Fed officials will gather on Tuesday and Wednesday to discuss a policy shift in the face of rising coronavirus cases and strained supply chains, that may lead to rising inflation. Slowed growth and in...

By  Yashasvini On  2021-07-27 03:45:00
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U.S. business activity shrinks further in July - IHS Markit data shows

U.S. business activity has lost momentum in July as the services sector cooled amid supply constraints after what was expected to have been a strong second quarter. The manufacturing and services indu...

By  Arghyadeep On  2021-07-24 01:54:00
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U.S weekly jobless claims surge to two months high due to spike in Covid-19 cases

The number of Americans receiving unemployment benefits fell this month to the lowest level since March 2020, but first-time applications increased, as the country faced a rapid rise in new COVID-19 i...

By  Ishika Dangayach On  2021-07-23 01:03:00
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Monday’s market diagnosed with COVID-19 anxiety

The market rally in the first half of 2021 which was fueled by growing optimism surrounding the rebound in economic growth has dwindled, as U.S. stocks, treasuries, and oil prices fell on Monday. The ...

By  Yashasvini On  2021-07-20 21:31:00
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Biden addresses inflation in US, asks Fed to take steps for recovery

US President Joe Biden said on Monday inflation was expected to be temporary but his administration realized that unchecked inflation for a long time would be a "real challenge" to the economy. Biden ...

By  Shubhangi On  2021-07-20 03:14:00
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Coronavirus driven recession ended in April 2020, lasted just two months

The coronavirus-caused recession in the United States lasted only two months, reaching a low point in April 2020 after a significant decrease in economic activity in March 2020. The National Bureau of...

By  Ishika Dangayach On  2021-07-20 02:23:00
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Consumer sentiment in U.S drops in early July amid inflation concerns

Consumer sentiment in the United States dropped in early July as inflation worries weakened confidence about future economic development, according to a study released on Friday. The preliminary readi...

By  Ishika Dangayach On  2021-07-16 22:15:00
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U.S retail sales increased in June as economic growth accelerates

Retail sales in the United States increased in June as demand for products remained robust despite spending move back to services and the economy reopened extensively. The retail sales rose 0.6 % in J...

By  Ishika Dangayach On  2021-07-16 20:20:00
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U.S. manufacturing output drops as chip shortage weighs on auto production

Output at U.S. manufacturing dropped unexpectedly in June as automobile production dropped amid the global chip shortage. Manufacturing output slumped 0.1% last month after growing 0.9% in May, the Fe...

By  Arghyadeep On  2021-07-16 01:59:00
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US unemployment claims fall to new pandemic low

US state unemployment insurance fell last week to a new pandemic low indicating economic recovery in US. In the week ended July 10, unemployment claims decreased by 26,000 to 360,000, data by Labor De...

By  Shubhangi On  2021-07-15 23:38:00
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Imported goods become dearer in the U.S. for the seventh month in a row

The cost of imported goods in the U.S. rose for the seventh straight month in June indicating that inflation would persist as the domestic demand surges in the face of global supply chain restrictions...

By  Yashasvini On  2021-07-15 22:39:00
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Biden unveils $3.5 trillion budget plan for new economic spending

Stepping up his bid to rally support for his multitrillion-dollar domestic plans through Congress, President Joe Biden will be meeting the Senate Democrats. This news comes a day after the party leade...

By  Yashasvini On  2021-07-15 02:03:00
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