10/15/2018

News

Manufacturing confidence at all-time high despite workforce shortage

Optimism among U.S. manufacturers is soaring as the Republican-led tax cuts help fuel a white-hot economy with the lowest unemployment numbers in over a decade, but a significant labor shortage is undermining the gains, a new report shows. Nearly 93 percent of manufacturers are projecting further expansion for their businesses, and positive sentiment among smaller […]

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Used-Car Sales Boom as New Cars Get Too Pricey for Many

The gap between the price of a new and used vehicle is as wide as it has been in years, pushing an increasing number of consumers to the used-car lot and putting pressure on auto makers to deepen discounts on new cars to keep them competitive. Demand for used cars was unusually strong this summer […]

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PG&E Testifies Against Trump’s Rollback of Auto Emission Rules

California’s biggest electric utility wants the U.S. government to keep its current auto emission standards, which it says is critical to advance the adoption of electric cars. PG&E Corp. plans to invest $360 million to support electric car charging infrastructure and “we want a stable environment for our investors and customers,” Anna Brooks, senior manager […]

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The Conference Board Consumer Confidence Index Increased in September

The Conference Board Consumer Confidence Index® increased in September, following a large improvement in August. The Index now stands at 138.4 (1985=100), up from 134.7 in August. The Present Situation Index improved marginally from 172.8 to 173.1, while the Expectations Index surged from 109.3 last month to 115.3 this month. The monthly Consumer Confidence Survey®, […]

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Small business optimism surges to highest level ever, topping previous record under Reagan

U.S. small business optimism surged to a record in August as the tax cuts and deregulation efforts of President Donald Trump and the Republican-led Congress led to more sales, hiring and investment, according to a survey by the National Federation of Independent Business. The NFIB Small Business Optimism Index jumped to 108.8 last month, the […]

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U.S. Factory Sector Clocks Strongest Growth in 14 Years

American factory activity in August expanded at the strongest pace in more than 14 years, despite rising tensions with some of the U.S.’s largest trade partners. The Institute for Supply Management on Tuesday said its manufacturing index rose to 61.3 in August, the highest level since May 2004, from 58.1 in July. Sales of factory-made […]

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Tesla Backs Off Solar Panel Deal With Panasonic

Tesla Inc. has backed away from an agreement to buy all of the output from a solar-panel factory it operates with Panasonic Corp. , the Japanese company said Thursday, another sign of the uncertain outlook for Tesla’s SolarCity subsidiary. Panasonic said it began making solar cells and modules at the factory in Buffalo, N.Y., in […]

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Retail Sales and Manufacturing Are Powering U.S. Growth This Summer

A surge in retail sales and rising manufacturing output suggest the U.S. economy’s strong growth in the second quarter continued into the third. Retail sales—a measure of spending at U.S. stores, websites and restaurants—rose a seasonally adjusted 0.5% in July from the prior month, the Commerce Department said Wednesday. That was well ahead of economists’ […]

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U.S. Trade Gap Widened in June

The U.S. trade deficit expanded in June at the fastest rate since November 2016, driven by a stronger dollar and buoyant economic growth. The trade deficit in goods and services increased 7.3% in June from the previous month to a seasonally adjusted $46.35 billion, the Commerce Department said Friday. Exports fell 0.7% from May, while […]

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Crossover utility vehicles overtake cars as the most popular light-duty vehicle type

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Chinese Reversing Big U.S. Real Estate Buying Spree That Had Helped Boost Prices

Chinese real-estate investors, facing pressure from Beijing, are reversing a yearslong buying spree in the U.S. where they often paid record prices for marquee properties like New York’s Waldorf Astoria hotel. Chinese insurers, conglomerates, and other investors have turned net sellers of U.S. commercial real estate for the first time in a decade. They have […]

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Southern California home sales crash, a warning sign to the nation

Southern California home sales hit the brakes in June, falling to the lowest reading for the month in four years. Sales of both new and existing houses and condominiums dropped 11.8 percent year over year, as prices shot up to a record high, according to CoreLogic. The report covers Los Angeles, Riverside, San Diego, Ventura, […]

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Manufacturing Sector Hits a Sweet Spot

The manufacturing sector staged a quick turnaround in June after a fire at the plant of a Ford pickup-truck supplier knocked output lower the previous month, extending a solid run of growth for U.S. industrial activity. The fire, which occurred May 2 at a parts plant in Michigan operated by a unit of China’s Wanfeng […]

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Factory Activity Heats Up as Manufacturers Position for Tariffs

American factory activity accelerated for the second straight month this summer, in part because manufacturers were scrambling to move goods ahead of threatened tariffs. The Institute for Supply Management on Monday said its manufacturing index rose to 60.2 in June from 58.7 in May. Numbers above 50 indicate activity is expanding across the manufacturing sector, […]

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L.A. region’s ‘creative economy’ produced 457,400 jobs in 2016, driven by Hollywood rebound

The creative economy of the Los Angeles region saw significant job growth between 2011 and 2016, with statewide creative employment now exceeding the pre-recession highs observed more than 10 years ago, according to a new study. The annual Otis Report on the Creative Economy, which was released Tuesday, noted that direct employment in the Los […]

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