US consumer borrowing up in June after 3 months of declines

WASHINGTON (AP) — U.S. consumer borrowing rose in June after three months of declines but the key category of credit card debt extended its decline. The Federal Reserve reported Frid...

Fed official defends slow start to Main Street loan program

WASHINGTON (AP) — A top Federal Reserve official on Friday defended the central bank’s efforts to launch a Main Street lending program and said the small number of loans approved so far would likely e...

Services sector index increases to 58.1 reading in July

WASHINGTON (AP) — Activity in the services sector, where most Americans work, increased in July but concerns remain about whether the recovery will persist with the recent rise in coronavirus cases. ...

Treasury ramps up auctions as borrowing, virus surges

WASHINGTON (AP) — The Treasury Department will ramp up the size of the bonds and other securities it auctions across-the-board in the face of the unprecedented borrowing needs of the the U.S. governme...

New York Fed study finds uneven business impacts from virus

WASHINGTON (AP) — Black-owned businesses have been almost twice as likely to fail as businesses overall during the current pandemic, according to a study released Tuesday by the Federal Reserve Bank o...

US Treasury projects record Q3 borrowing of $947 billion

WASHINGTON (AP) — The Treasury Department is projecting government borrowing of $947 billion in the current July-September period, which would be a record for the quarter but down from the all-time hi...

US manufacturing shows further improvement in July

WASHINGTON (AP) — U.S. manufacturing improved again in July with a key gauge of activity rising for a second straight month. The Institute for Supply Management, an association of pu...

Fitch lowers its outlook on US credit rating to 'negative'

WASHINGTON (AP) — Fitch has lowered the outlook for its U.S. government credit rating to “negative” from “stable” due to soaring budget deficits, but the agency is keeping its overall rating at the hi...

US consumer spending up 5.6%, but virus could stall gains

WASHINGTON (AP) — American consumers increased their spending in June by a solid 5.6%, helping regain some of record plunge that occurred after the coronavirus struck hard in March and paralyzed the e...

Government revisions show slightly slower 2019 GDP growth

WASHINGTON (AP) — The government says the U.S economy grew a bit more slowly last year than it had previously estimated and slightly faster in 2018. Those changes emerged Thursday in...

US is expected to report a record-breaking economic plunge

WASHINGTON (AP) — Having endured what was surely a record-shattering slump last quarter, the U.S. economy faces a dim outlook as a resurgent coronavirus intensifies doubts about any sustained recovery...

US consumer confidence tumbles in July as COVID-19 spreads

WASHINGTON (AP) — U.S. consumer confidence tumbled in July to a reading of 92.6 as coronavirus infections spread in many parts of the country. The Conference Board, a New York-based ...

Orders for big-ticket manufactured goods jump 7.3% in June

WASHINGTON (AP) — Orders for big-ticket manufactured goods rose a solid 7.3% in June, the second big monthly gain as manufacturing tries to climb out of a spring slump triggered by the coronavirus pan...

Survey: Business economists sketch a more hopeful outlook

WASHINGTON (AP) — The economic outlook of U.S. business economists has improved over the past three months, though their sunnier view may be jeopardized by the resurgence of the coronavirus. ...

US new home sales jump 13.8% in June

WASHINGTON (AP) — Sales of new homes rose a sharp 13,8% in June, the second straight increase after two months when sales plunged as the country went into lockdown because of the coronavirus. ...