Every American Needs to Buy a Box of Nails
The trade war with China has begun in earnest, and among the earliest and most well-covered victims of these tariffs is Mid-Continent Nail.
Economy
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ADP Sets Cautious Tone for Friday’s Labor Department Report on Job Growth
There may be a bit of a more muted expectations for Friday's key payrolls and unemployment report from the U.S. Department of Labor.
US Problem: Can a Country Without Wage Growth Continue to Grow?
The chances for wage increases in the economy, particularly at the low end of the scale, are depressing. And GDP faces a real threat as discretionary spending probably falters.
US Retail Sales Rose in the First Half of the Year, but Store Closings Rose Too
In the first half of 2018, U.S. consumers spent more on discretionary items than they did in the same period a year ago, even though gasoline prices were sharply higher. Store closings are higher…
Minimum Wage Rises in Several Jurisdictions
The minimum wage rate rose this morning in two states, the District of Columbia, and 15 local jurisdictions. The federal minimum has not been raised since 2009.
US New Construction Spending Inched Higher in May
U.S. spending on new construction rose month over month in May and is up 4.5% year over year. Private spending on residential construction is up 6.4% year over year.
Trade Wars or Not, China’s Economy Is Slowing
China is already feeling some of the trade tension bite, on top of other economic pressures in the world's most populous nation.
June Consumer Sentiment Up, but Less So Than 2 Weeks Ago
The final consumer sentiment reading for June from the University of Michigan rose slightly to 98.2 from May's index of 98.0. The mid-June index was higher, but consumers' concerns have changed since then.
TSA Tells People Not to Carry Fireworks
The TSA believes some of the 28 million airline passengers will try to carry fireworks as they travel during the holiday period.
Even at Almost $20 Trillion, US GDP Growth Slower Than Expected So Far in 2018
It appears that consumer spending, which makes up the majority of U.S. GDP, was weaker than had been expected in the first quarter.
West Virginia Is America’s Least Psychopathic State
A researcher has come up with a test that shows which states are most and least "psychopathic." For some reason, West Virginia falls at the bottom of the list.
Volatility Continues in Durable Goods in May
The monthly reports on durable goods can be quite volatile, disappointing in a strong economy or soaring even in a bad economy.
China Suggests It Will Support Its Companies Against Tariffs
Among the advantages of a nation with a central government controlled by one ruling party is that local organizations can be shielded from forces from outside the country.
CBO Projects US Debt Repayment to Exceed Social Security Spending by 2048
The Congressional Budget Office Tuesday projected that U.S. debt repayment will equal Social Security spending by 2048.
Texas Economic Growth Slowing as Prices, Wages Rise
The Dallas Fed published its June manufacturing report Monday morning. The state's manufacturing activity continues to rise but at a slower pace.