Industrial Output Falls 0.1% Amid Supply Issues
WASHINGTON — U.S. industrial production fell 0.1% in December, the first decline since September, with manufacturers still struggling with snarled supply chains.
Wholesale Prices Jumped 9.7% in 2021
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.S. economy.
Economy Grew at 2.3% Rate in Q3, Up From Earlier Estimate
WASHINGTON — The U.S. economy grew at a 2.3% rate in the third quarter, slightly better than previously thought, the Commerce Department said Dec. 22. But prospects for a solid rebound going forward are being clouded by the rapid spread of the latest variant of the coronavirus.
Wholesale Inflation Jumps Record 9.6% Over Past 12 Months
WASHINGTON — Prices at the wholesale level surged by a record 9.6% in November from a year earlier, an indication of ongoing inflation pressures.
Trade Deficit Narrows in October as Exports Rebound
WASHINGTON — The U.S. trade deficit narrowed to $67.1 billion in October, the lowest in six months, after hitting a record high in September.
Consumer Spending Rebounds in October; Inflation Elevated
WASHINGTON — U.S. consumer spending rebounded in October, rising by a solid 1.3%, but inflation remains elevated, rising over the past year at the fastest pace in more than three decades.
Budget Deficit Hits $2.77 Trillion in 2021
WASHINGTON — The U.S. budget deficit totaled $2.77 trillion for 2021, the second highest on record but an improvement from the all-time high of $3.13 trillion reached in 2020.
Wholesale Prices Rose Record 8.6% Over 12 Months
WASHINGTON — Inflation at the wholesale level rose 8.6% in September compared to a year ago, the largest advance since the 12-month change was first calculated in 2010.
Trade Deficit Hits Record $73.3 Billion in August
WASHINGTON — The U.S. trade deficit increased to a record $73.3 billion in August as a small gain in exports was swamped by a much larger increase in imports.
After Ida Hits, August Industrial Output Gains Slow to 0.4%
U.S. industrial production slowed to a 0.4% gain in August as shutdowns of petroleum refineries and petrochemical plants caused by Hurricane Ida curbed manufacturing activity.