Fitch Trims US GDP Expectations for 2016, Raises China GDP View
Fitch Ratings has issued its latest Global Economic Outlook. Unfortunately, that outlook is calling weaker growth in gross domestic product (GDP) for the United States in 2016.
Economy
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Will Durable Goods Bring Another Disappointment?
If there is one economic release that can bring big swings to expectations, it is the monthly durable goods report. This is also one of the most volatile of all economic reports.
Narrower Trade Deficit Seen in April 2016
The U.S. Department of Commerce showed that imports and exports of goods were up in April, compared to March.
Household Debt Trends Improve in Q1 2016, With Bankruptcies Way Down
The total levels of household debt balances rose during the first quarter of 2016, according to the Federal Reserve Bank of New York.
Philly Fed Stands Firm in May, Sort Of
Respondents to the May Philly Fed Nonmanufacturing Business Outlook Survey continued to report moderate growth in current activity at their firms.
US at Full Employment: SF Fed President John Williams
In an economics discussion on Monday at the Council on Foreign Relations, San Francisco Federal Reserve Bank President John Williams said that he believes the United States is basically at full employment.
IMF Calls for More Greek Debt Restructuring
Greece is back in the news. The good news about Greece is that they are not back in the news on the verge of an impending default, nor is Greece being accused of being…
Americans’ Retirement Income Falls Short
In order for Americans to enjoy a financially comfortable retirement, a rule of thumb from financial advisors is that they will need about 70% of their pre-retirement income in order to have comfortable life.
PMI Manufacturing Flash Reading Slows to a Crawl
Monday's only major U.S. economic report was the PMI Manufacturing Index Flash for May, which is considered a real-time report by traders.
America’s 10 Worst States for Business
24/7 Wall St. recently examined the business environment in all 50 states. The bottom 10 are particularly difficult for those companies that are based in them.
Eurozone Flash PMI Shows Threat of Sharp Economy Slowdown
Markit's Flash PMI for May was such that the research firm expressed alarm about broad economic results for the year's second quarter.
Fast-Food Workers to Unionize
At the quadrennial meeting of the Service Employees International Union (SEIU), organizers of the “Fight for $15” campaign announced that fast-food workers plan to join the union following a vote by cooks and cashiers…
Towns With Unemployment Rates Above 40%
While the poverty rate in the U.S. is 15.6%, in some towns it is nearly three times that. 24/7 Wall St. found there are 20 such places. As a matter of fact, the town…
Hottest Day in US History, 134 Degrees in 1913
Oddly, in the age of global warming, the record hottest day in the United States is over 100 years old. The thermometer reached 134 degrees at Furnace Creek, Calif., on July 10, 1913.
3 Texas Towns Among 25 Wealthiest in America (and It Could Be More)
There may be many millionaires and many wealthy townships in the Lone Star State, but a recent study from 24/7 Wall St. showed that just three Texas towns ranked among the 25 wealthiest towns…