Martin Crutsinger

Government, Business

Powell, Mnuchin Voice Optimism but Back More Economic Aid

Federal Reserve Chair Jerome Powell testifies during a House Financial Services Committee hearing on Sept. 22. Federal Reserve Chair Jerome Powell testifies during a House Financial Services Committee hearing on Sept. 22. (Caroline Brehman/Pool via AP)

Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin expressed cautious optimism Sept. 22 that the U.S. economy is rebounding from the pandemic-induced recession with federal support but that more help from the government is likely needed.

Martin Crutsinger | Associated Press
September 22, 2020
Government, Business, Logistics

Industrial Production Growth Slows, Up 0.4% in August

Industrial production rose a modest 0.4% in August. Ford Motor line workers put together ventilators at the Ford Motor Rawsonville plant in Ypsilanti Township, Mich., in May. (Carlos Osorio/Associated Press)

U.S. industrial production slowed to a modest increase of 0.4% in August, far weaker than the strong bounceback recorded in previous months when factories were coming back to life.

Martin Crutsinger | Associated Press
September 15, 2020
Government, Business, Logistics

US Trade Deficit Surges in July to Highest in 12 Years

The trade deficit is now the highest its been in more than a decade. Cranes take containers off a Yang Ming Marine Transport ship at the Port of Tacoma in Washington. (Ted S. Warren/Associated Press)

The U.S. trade deficit surged in July to $63.6 billion, the highest level in 12 years, as imports jumped by a record amount.

Martin Crutsinger | Associated Press
September 3, 2020
Government, Business, Safety

Fed Survey Finds Pessimism About Economic Future

A new Federal Reserve survey found pessimism among businesses about their economic future. Federal Reserve Chairman Jerome Powell speaks during a Congressional hearing on Capitol Hill on June 30. (Bill O'Leary/The Washington Post via AP)

The latest Federal Reserve survey of U.S. economic activity found generally modest gains in August but also pessimism about the future given the threats posed by the coronavirus.

Martin Crutsinger | Associated Press
September 2, 2020
Business

US Manufacturing Improves in July, According to ISM

Metal worker using a grinder A metal worker uses a grinder. For the second straight month, the index was above 50, indicating growth in the manufacturing sector. (Phynart Studio/Getty Images)

U.S. manufacturing improved again in July with a key gauge of activity rising further into expansion territory.

Martin Crutsinger | Associated Press
August 3, 2020
Government, Business

US Economy Shrank at Record-Breaking 33% Rate Last Quarter

A "For Rent" sign hangs on a closed shop in Miami Beach, Fla., on July 13. A "For Rent" sign hangs on a closed shop in Miami Beach, Fla., on July 13. (Lynne Sladky/Associated Press)

The U.S. economy shrank at a dizzying 32.9% annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%, the government said July 30.

Martin Crutsinger | Associated Press
July 30, 2020
Government, Business, Equipment

Orders for Big-Ticket Manufactured Goods Jump 7.3% in June

A General Motors worker validates N95 masks in Warren, Mich., on April 23. A General Motors worker validates N95 masks in Warren, Mich., on April 23. (Paul Sancya/Associated Press)

Orders for big-ticket manufactured goods rose a solid 7.3% in June, the second big monthly gain as manufacturing tries to climb out of a spring slump triggered by the coronavirus pandemic.

Martin Crutsinger | Associated Press
July 27, 2020
Government, Business, Fuel

Spiking Cost of Gasoline Pushes June Consumer Prices Up 0.6%

Rising gasoline costs were the primary contributor to the consumer price rebound. Rising gasoline costs were the primary contributor to the consumer price rebound. (John Raoux/Associated Press)

U.S. consumer prices increased 0.6% in June, after three months of declines, with a big jump in gasoline prices accounting for over half of the gain.

Martin Crutsinger | Associated Press
July 14, 2020
Government, Business

Consumer Spending Up 8.2%, Partly Erasing Record Plunge

Shoppers, left, head to the entrance of a Best Buy store in Minnesota on June 24. Shoppers, left, head to the entrance of a Best Buy store in Minnesota on June 24. (Jim Mone/Associated Press)

American consumers increased their spending by a record 8.2% in May, partly erasing record plunges the previous two months, against the backdrop of an economy that’s likely shrinking by its steepest pace on record this quarter.

Martin Crutsinger | Associated Press
June 26, 2020
Government, Business, Safety

IMF Downgrades Outlook for Global Economy in Face of Virus

Kristalina Georgieva, Managing Director of the IMF, is seen during a session on the first day of the Munich Security Conference on Feb. 14. Kristalina Georgieva, Managing Director of the IMF, is seen during a session on the first day of the Munich Security Conference on Feb. 14. (Jens Meyer/Associated Press)

The International Monetary Fund has sharply lowered its forecast for global growth this year because it envisions far more severe economic damage from the coronavirus than it did just two months ago.

Martin Crutsinger | Associated Press
June 24, 2020

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