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Consumer Sentiment Edges Up but Inflation Fears Send Buying Attitudes to 40-year Low
University of Michigan's consumer sentiment index edged up to a reading of 71 in September, a slight uptick from August's 70.3, which was the lowest level since 2011.
Homebuilder Confidence Edges Up After Recent Plunge to 13-Month Low
Homebuilder confidence inched up in September after falling to its lowest reading in 13 months in August.
Sears Announces It's Shutting Last Store in Home State of Illinois
The store, located in Woodfield Mall, is scheduled to shut its doors on Nov. 14.
Jobless Claims Rise as Pandemic Fears and Supply Chain Crunch Weigh on Recovery
First-time filings for unemployment insurance-a proxy for layoffs-came in at 332,000 for the week ending Sept. 11, a rise of 20,000 from the previous week's revised level of 310,000.
America Is Short of Over 5 Million Homes Amid Surge in Demand and Lack of Construction: Report
Data released on Sept. 9 show that the United States is short of 5.24 million homes.
Household Income of Americans Fell in 2020 for First Time Since 2011: Census Bureau
The median household income was $67,521 in 2020, a decrease of 2.9 percent from the 2019 median of $69,560 and the first significant decline since 2011, the Census said in its findings published Sept. 14.
Pfizer Says COVID-19 Vaccine Efficacy Weakens Over Time
Pfizer said that booster doses should be given to all people aged 16 and older six months after they received their second dose of the mRNA vaccine.
Small-Business Optimism About Future Conditions Falls to 8-Year Low, Hiring Difficulties Hit 48-Year High
The level of confidence in the six-months-ahead outlook for business conditions fell to an eight-year low while hiring difficulties hit a 48-year high, a new report shows.
Consumer Price Hikes Soften in August, Annual Inflation Stays Stubbornly High
The consumer price index (CPI) rose 0.3 percent in August from July, the Labor Department said in a Sept. 14 report, with consensus forecasts predicting a slightly higher 0.4 percent rate of monthly inflation.
Court Demands FCC Reconsider Its Wireless Safety Standards
After dismissing evidence of potential harm during a public inquiry, FCC must now address the concerns.
Gasoline Prices Hit 7-Year High Even as Demand Falls for 4th Straight Week
For the week of Sept. 6, the national average for a gallon of regular gasoline rose to a seven-year high of $3.176 from $3.139 the week prior.
Mortgage Rates Remain Relatively Flat as Economy Loses Momentum: Freddie Mac
According to the data released Thursday by the federally chartered mortgage investor, the rate on a 30-day fixed-rate mortgage averaged 2.88 percent for the week ending Sept. 9, up slightly from 2.87 percent last week.
Producer Prices See Biggest Annual Surge on Record, Stoking Broader Inflation Concerns
The Labor Department said in a Sept. 10 statement that, for the 12 months ending in August, the final demand producer price index (PPI) jumped by 8.3 percent, the highest number in the history of the series.
Goldman Sachs Lowers US Growth Forecast Amid COVID-19 Delta Variant and Fading Fiscal Support
Economists at Goldman Sachs Group Inc. have lowered their forecast for growth in the U.S. economy this year for a second time.