12/16/2018

News

Americans continued ugly breakup with passenger cars in November as auto sales decline

Americans continued to abandon passenger cars in November, transitioning rapidly into crossovers, SUVs and pickups as automakers increasingly catered their products to shifting driver preferences. Automakers sold slightly fewer vehicles overall in November, compared with last year, according to analysts’ forecasts, including one from Edmunds.com, which projected auto sales fell 1.3 percent last month, and […]

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China ‘Is the Only One in the Race’ to Make Electric Buses, Taxis and Trucks

A national project to replace millions of gasoline-fueled taxis, buses and trucks with new electric models is boosting China’s ambitions to lead the global shift to battery-powered transportation. When it comes to the commercial electric-vehicle market, “China is the only one in the race; it’s all Chinese manufacturers,” said Sandra Retzer, the Beijing-based head of […]

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Consumer Spending Rose in October

Retail spending by American households rose in October, a sign outlays started on a strong footing headed into the holiday shopping season. Sales at retail stores and restaurants rose 0.8% from the prior month, the Commerce Department said Thursday. That exceeded the 0.5% increase economists surveyed by The Wall Street Journal had expected.

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Factory-Sector Growth Retreated in October. Tariffs Could Be to Blame.

American factory activity decelerated in October, while an underlying gauge of activity in factories that make metal products contracted for the first time in about two years. The Institute for Supply Management on Thursday said its manufacturing index fell to 57.7 in October from 59.8 in the previous month, the lowest level in six months. […]

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U.S. Consumer Confidence Surged in October to 18-Year High

A measure of U.S. consumer confidence rose in October to an almost two-decade high, as Americans expected economic and jobs growth to power ahead despite recent stock-market volatility. The Conference Board on Tuesday said its index of U.S. consumer confidence rose to 137.9 in October, the highest level since September 2000. At the same time, […]

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U.S. Manufacturing Capacity Increases for 16th Month in a Row

U.S. manufacturers increased their capacity for the 16th straight month in September, fresh evidence that a strengthening economy is helping to propel a U.S. industrial rebound. The Trump Administration has prioritized increasing manufacturing investment in the U.S. with tax cuts and tariffs on a range of imported goods. Manufacturing capacity, tracked by the Federal Reserve, […]

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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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