US Consumer Sentiment Tumbled in July
The final reading for July from the University of Michigan consumer sentiment index revealed a 7.2% month-over-month drop in consumer sentiment and a decline of more than 26% compared to July of last year.
Economy
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Unemployment in This City is Only 3.6%
Can a small city that is relatively isolated and has several small businesses ride out a recession that has badly damaged almost every other part of the country?
This American City Has Unemployment of 34.3%
Hammered by a downturn in the gaming industry and torn to shreds by Hurricane Sandy, Atlantic City has the highest unemployment rate of any city in the country.
US GDP Plunges by 33% as Personal Income — and Savings — Soar
U.S. second-quarter GDP fell at an annualized rate of nearly 33% in the second quarter, the largest decline since reporting began following World War II. Consumer spending fell by 25%.
It Is 124 Degrees in This City Now, Which Is Deadly
Global experts warn that the hottest areas in the world will get much hotter. Two locations in Iraq topped 124 degrees today.
Federal Reserve Remains Committed to Zero Interest Rates and Asset Purchases (Forever?)
The world and the financial markets are both addicted to government sponsored economic stimulus. Companies love stimulus and millions of consumers currently have no job and have little to no prospects of securing a…
The Real Recovery May Not Track Stock Market Euphoria in the Quarters and Years Ahead
24/7 Wall St. has been tracking GDP forecasts and other economic forecasts around the pandemic. Unfortunately, the great economy of 2019 will not be seen for quite some time. Just don't bother telling that…
July Consumer Confidence Pulls Back as COVID-19 Surges Again
The Conference Board's July survey of U.S. consumer confidence showed that Americans have become more worried about the impact of COVID-19 on the economy and the job market.
Global Economy Could Be Battered for Years According to These Experts
The primary debate among economists is how badly the world economy is damaged now and will be in the future.
This Is the State Where the Most Children Are Homeschooled
Some children actually learn primarily from their parents, perhaps with the aid of tutors. They do not interact with traditional schools at all. In Alaska, this number is particularly high.
Despite Rising COVID-19 Cases, Chicago Fed Shows National Economic Recovery Continuing Into Summer
The overall trends were better in enough categories that the July data may not be as soft as it might seem today.
The Upcoming Deep Trouble for the Economy and the Markets
The equity markets will start to fall as parts of the economy shut down again and it becomes clear that as many as 15 million lost jobs cannot be replaced.
Mixed Reports on US Manufacturing, Retail Sales, Jobs Weigh on Stocks
Economic reports on unemployment claims, manufacturing, and retail sales present a mixed view on how the United States is coping with the COVID-19 pandemic.
European Commission Expects GDP to Drop 8.7%
The European Commission cut its gross domestic product forecast for 2020. Its economists expect an 8.7% drop this year. This is a downward revision of its last forecast. GDP is expected, the body said,…
The V-Shaped Recovery Won’t Happen
There has been a perception among optimistic economists that after battered second-quarter GDP figures growth will begin to blossom at the end of the third quarter into next year. The unemployment rate will recover…