Consumers are America’s not so secret weapon to lift economy
With markets reeling from recession fears, the world is watching the resilient U.S. consumer, now in the strongest position since before the financial crisis — so far.
Goodbye China: Chinese manufacturers follow multinationals out the door
SHANGHAI — Chinese companies are following their foreign counterparts out of the country in search of alternative production bases to mitigate the impact of the prolonged trade war with the U.S.
China pledges not to devalue yuan exchange rate after US currency manipulator designation
China will neither devalue the yuan nor change the way it manages the Chinese currency exchange rate after the United States designated it as a currency manipulator last week, according to China’s foreign exchange administration chief.
Lack of G7, IMF support seen dimming impact of U.S. move on China’s yuan
China is unlikely to face serious consequences from the Trump administration’s decision to label it a currency manipulator given the apparent lack of G7 and IMF support for the move, former and current U.S. and G7 officials said.
IMF stands by yuan view; says China could need stimulus if trade war worsens
The International Monetary Fund on Friday stood by its assessment that the value of China’s yuan was largely in line with economic fundamentals, but an IMF official said the fund was encouraging China to pursue a more flexible exchange rate with less intervention.
Housing sentiment hits record high, as bidding wars vanish
Falling mortgage rates and strong employment drove consumer confidence in housing to a record high in July, according to a monthly index from Fannie Mae.
U.S. economy slows in second quarter; consumer spending accelerates
U.S. economic growth slowed less than expected in the second quarter as a surge in consumer spending blunted some of the drag from declining exports and a smaller inventory build, which could further allay concerns about the economy’s health.
UPS shares surge nearly 9% as demand for faster shipping drives a revenue jump
Shares of UPS surged as demand for faster delivery powered a second quarter that beat Wall Street expectations.
U.S. business investment stabilizing, economy slowing
New orders for key U.S. made capital goods surged in June, suggesting some improvement in business investment, but economic growth is still expected to have slowed sharply in the second quarter amid weaker exports and a smaller inventory build.
U.S. labor market strong; mid-Atlantic manufacturing rebounds
The number of Americans filing applications for unemployment benefits increased moderately last week, pointing to still strong labor market conditions despite signs that economic activity was slowing.