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Industrial output falls 0.1% unexpectedly amid supply issues

WASHINGTON (AP) — U.S. industrial production fell 0.1% in December, the first decline since September, with manufacturers still struggling with snarled supply chains. Many economists...

Wholesale prices jumped a record 9.7% in 2021

WASHINGTON (AP) — Prices at the wholesale level surged by a record 9.7% for all of 2021, setting an annual record and providing further evidence that inflation is still present at all levels of the U....

Fed survey finds economy growing modestly despite COVID

WASHINGTON (AP) — The Federal Reserve said Wednesday that the economy was growing at a modest pace at the end of 2021 but was still being held back by ongoing supply-chain disruptions and labor shorta...

US posted smallest monthly deficit in 2 years in December

WASHINGTON (AP) — The federal government last month posted its smallest monthly budget deficit in two years thanks to a rebounding economy that helped boost tax receipts, coupled with slower spending ...

US Mint begins shipping quarters honoring Maya Angelou

WASHINGTON (AP) — The United States Mint said Monday it has begun shipping quarters featuring the image of poet Maya Angelou, the first coins in its American Women Quarters Program. ...

Tax season begins two weeks early due to virus, IRS funding

WASHINGTON (AP) — This year's tax filing season will begin on Jan. 24, 17 days earlier than last year, the Internal Revenue Service announced Monday. The IRS is warning that a resurg...

November trade deficit hits near record-high $80.2 billion

WASHINGTON (AP) — The U.S. trade deficit surged to a near-record high of $80.2 billion in November as exports slowed at the same time that imports jumped sharply. The November defici...

US manufacturing activity slows to 11-month low in December

WASHINGTON (AP) — Growth in U.S. manufacturing slowed in December to an 11-month low with companies still combating supply chain problems. The Institute for Supply Management, a trad...

New home sales jump 12.4% in November, highest in 7 months

WASHINGTON (AP) — Sales of new single-family homes rose 12.4% in November, the fastest pace in seven months, as the housing industry continued to benefit from low mortgage rates and strong demand. ...

Consumer prices up 5.7% over past year, fastest in 39 years

WASHINGTON (AP) — U.S. consumer prices rose 5.7% over the past year, the fastest pace in 39 years, as a surge in inflation confronts Americans with the holiday shopping season under way. ...

US economy grew at 2.3% rate in Q3, up from earlier estimate

WASHINGTON (AP) — The U.S. economy grew at a 2.3% rate in the third quarter, slightly better than previously thought, the Commerce Department said Wednesday. But prospects for a solid rebound going fo...

Omicron casts a new shadow over economy's pandemic recovery

Just as Americans and Europeans were eagerly awaiting their most normal holiday season in a couple of years, the omicron variant has unleashed a fresh round of fear and uncertainty — for travelers, sh...

Regulators: threats to US financial system remain elevated

WASHINGTON (AP) — The nation's top financial regulators told Congress Friday that threats to U.S. financial stability remain elevated even though the country has recovered from what appears to be the ...

Industrial production increases 0.5% in November

WASHINGTON (AP) — U.S. industrial production increased 0.5% in November as output at the nation's factories reached the highest level since January 2019. The November gain followed a...

Why the Fed feels now is time to tighten credit more quickly

WASHINGTON (AP) — For months, Federal Reserve Chair Jerome Powell responded to surging inflation by counseling patience and stressing that the Fed wanted to see unemployment return to near-pre-pandemi...