💸 ACT Research released its Commercial Vehicle Dealer Digest to forecast economic scenarios including a recession as we enter 2023.
April through June of 2022, the U.S. economy shrank at a 0.9% annual pace for a second straight quarter. The Commerce Department reported that consecutive quarters of falling GDP may indicate a recession.
Over the past few weeks, the freight and logistics industry has witnessed significant layoffs across several states including Florida, Georgia, Illinois, Michigan, and Texas.
Wealthy American families are increasingly obtaining second, or even multiple, citizenships and residences, a trend highlighted by Henley & Partners, a law firm specializing in high-net-worth citizenships.
The rise of dark satire in China's online realm sheds light on a growing phenomenon.
In 2021 and 2022, as inflation surged, the Federal Reserve was criticized for delaying interest rate hikes, allowing prices to soar. Now, with inflation easing, there's concern the Fed might move too slowly to cut rates, risking a recession, some economists argue.
Major logistics company, Penske Logistics, recently filed notices indicating plans to cut over 200 truck driver and warehouse jobs in Washington and Oregon by March 31.
In January, the U.S. economy added a surprising 353,000 jobs, surpassing economists' predictions of 177,000.
Citigroup is set to trim its workforce by 20,000 employees over the next two years, according to CFO Mark Mason, following a dismal fourth quarter in 2023 where the bank reported a net loss of $1.8 billion, its worst in 15 years.
As we gear up for 2024 - a big election year - it's hard not to think of James Carville's famous line from 1992, "It's the economy, stupid."
In 2023, the U.S. economy saw a combination of positive and negative trends.
U.S. Treasury Secretary Janet Yellen expressed the importance of stabilizing the U.S.-China relationship during a dinner hosted by the U.S.-China Business Council.
Private sector job creation in November continued to slow, with companies adding 103,000 workers, slightly below October's 106,000 and missing estimates.
A recent Fox News poll revealed that more than 75% of Americans are worried about the state of the economy.
Americans' confidence in the US economy has declined, with the preliminary reading on consumer sentiment for November hitting its lowest level since May at 60.4, below economists' expectations of 63.7.
The U.S. economy saw stronger-than-expected growth in the third quarter, expanding at a 4.9% annualized rate, driven primarily by robust consumer spending.
BlackRock CEO Larry Fink, a prominent figure on Wall Street, has expressed concern over the high levels of fear he's witnessing among consumers and businesses, which he says is missing the essential ingredient of hope for a healthy financial outlook.
Despite earlier predictions of an economic recession and declining oil demand, the U.S. economy has remained resilient, leading to stable demand for gasoline and jet fuel.
Credit ratings agency Moody's has placed the credit ratings of six major US banks, including Bank of New York Mellon, State Street, and Northern Trust, under review for a possible downgrade.
The job market in the United States has shown signs of cooling over the summer, but it remains strong enough to dispel fears of a recession despite higher interest rates.
According to a recent report by ISS ESG, a full-blown recession has not occurred, but there has been a lackluster performance in a low-growth environment, coupled with high inflation, interest rates, and tighter liquidity due to a recent banking crisis.
Critics continue to question the true cost of President Biden's economic agenda, despite his promotion of "Bidenomics" during his reelection campaign.
Federal Reserve Chair Jerome Powell reaffirmed the likelihood of raising interest rates at least once more this year due to persistent inflation in the service sector and a tight job market.
During the Economist Impact's 3rd annual "Sustainability Week US" in Washington, D.C., Terrence Keeley and Witold J. Henisz engaged in a debate over the relevance and accuracy of environmental, social, and corporate governance (ESG) reporting.
US job growth defied expectations in May, with employers adding 339,000 jobs, surpassing the forecasted 190,000 jobs.
Despite the Federal Reserve's best efforts to curb inflation, recent assessments indicate that their progress has fallen short of initial expectations.
A recent poll conducted by AP-NORC revealed that approximately two-thirds of Americans expressed growing concerns over the potential impact on the economy if the US debt limit is not raised.
JPMorgan Chase has acquired the majority of the assets of First Republic Bank following the federal government's seizure of the regional bank.
It is reported that the United States trade deficit has grown for the third consecutive month, reaching $70.5 billion.
For the first time in nearly two years, the number of available job positions fell by 632,000 compared to the previous month.
The dismantlement of Silicon Valley Bank within 48 hours by regulators has the federal government rushing to stifle the bleeding of a resilient - but vulnerable - economy.
On Friday, Federal Reserve officials breathed a sigh of relief as April’s job data revealed a cooling in wage growth and hiring rates that hark back to pre-COVID-19 days.