U.S. consumer prices fell for the first time in 10 months in March, weighed down by a decline in the cost of gasoline, but underlying inflation continued to firm amid rising prices for healthcare and rental accommodation. The drop in the headline monthly inflation reading reported by the Labor Department on Wednesday is likely temporary […]
U.S. factory activity surged to a more than 13-year high in September amid strong gains in new orders and raw material prices, pointing to underlying strength in the economy even as Hurricanes Harvey and Irma are expected to dent growth in the third quarter.
The economic outlook was also bolstered by other data on Monday showing a rebound in construction spending in August. The acceleration in manufacturing activity and the accompanying increase in prices could harden expectations that the Federal Reserve will raise interest rates in December.
The Institute for Supply Management (ISM) said its index of national factory activity surged to a reading of 60.8 last month, the highest reading since May 2004, from 58.8 in August.
Germany will miss a European Union renewable energy target by a wider margin than previously predicted, a study showed on Wednesday.
The BEE renewable energy association’s analysis found that energy from green sources would account for 16 percent of German power consumption by 2020, short of an EU target of 18 percent for Germany.
Decommissioning nuclear plants in Europe and North America from 2020 threatens global plans to cut carbon emissions unless governments build new nuclear plants or expand the use of renewables, a top International Energy Agency official said. Nuclear is now the largest low-carbon power source in Europe and the United States, about three times bigger than wind and solar combined, according to IEA data. But most reactors were built in the 1970s and early 80s, and will reach the end of their life around 2020. With the average nuclear plant running for 8,000 hours a year versus 1,500-2,000 hours for a solar plant, governments must expand renewable investments to replace old nuclear plants if they are to meet decarbonization targets, IEA Chief Economist Laszlo Varro told Reuters.
California legislators have raised fines for traffic infractions to some of the highest in the United States to generate revenue, and the poor are bearing an unfair burden, losing cars and jobs because they cannot pay them, civil rights activists said on Friday.
China and the European Union need to show joint leadership on climate change and cannot expect the “same leadership” from the new administration in the United States, European climate commissioner Miguel Arias Canete said in Beijing on Thursday.
U.S. consumer spending increased modestly in November as household income failed to rise for the first time in nine months, suggesting the economy slowed in the fourth quarter after growing briskly in the prior period.
Germany is at risk of missing its 2020 target for cutting greenhouse gas emissions by 40 percent from 1990, an environment ministry report showed on Wednesday. . . The action plan was expected to save between 62 million and 78 million tonnes of carbon dioxide but now the government expects savings of just 58 million tonnes, the report said.
“Wind farms will be granted 30-year U.S. government permits that could allow for thousands of accidental eagle deaths due to collisions with company turbines, towers and electrical wires, U.S. wildlife managers said on Wednesday. The newly finalized rule, to go into effect on Jan. 15, extends the current five-year term for permits that allow for the accidental deaths of bald and golden eagles. The bald eagle is the national emblem of the United States.”
Gross domestic product expanded at a 1.4 percent annual rate, the Commerce Department said on Thursday in its third estimate of GDP. That was up from the 1.1 percent rate it reported last month and higher than analysts’ expectations.
China has accused more than 20 additional car makers, including Nissan and Hyundai, of breaking rules on green car subsidies, according to a state media report, widening a scandal over a $4.5 billion annual payout program.
Carbon emissions from cars in the Chinese city of Chengdu could be underestimated by more than half under conventional testing methods, according to the preliminary results of a study released on Wednesday.
The Thomson Reuters/PayNet Small Business Lending Index fell to 129.0, down from March’s downwardly revised 135.1 and marking the index’s seventh decline in the last 10 months. The PayNet index typically corresponds to U.S. gross domestic product growth one or two quarters ahead.
California natural gas prices spiked to a five-month high after state regulators approved rules to help gas utilities manage the amount of fuel flowing in pipelines due to the ongoing outage of the Aliso Canyon underground storage facility.
“U.S. consumer prices recorded their biggest increase in more than three years in April as gasoline and rents rose, pointing to a steady inflation build-up that could give the Federal Reserve ammunition to raise interest rates later this year. Other data on Tuesday showed housing starts and industrial production rebounded strongly last month, suggesting the economy was regaining steam early in the second quarter after almost stalling early in the year.”