Transportation Economy News Updates

A gauge of service industries declined in July to an almost three-year low as orders continued to cool, indicating a sluggish start to the third quarter for the biggest part of the economy.

Orders with U.S. factories for business equipment rebounded in May with the largest increase in four months, signaling corporate investment is holding up despite tensions with major trading partners fueling uncertainty about the outlook.

One of the biggest concerns in recent decades has been the “hollowing out” of middle-wage, middle-skill jobs. Employment at the low and high ends of the income scale has risen faster, and many jobs that have traditionally supported the middle class have suffered by comparison, with ramifications that are social and political as well as economic.

U.S. stock futures slumped and Treasuries surged, signaling the May 14 relief rally will be short-lived, as fresh concern about the health of the global economy rattled investors still on edge over the trade war.

Economists expect U.S. first-quarter growth to decelerate less than previously thought even as they cut forecasts for the rest of the year, projecting a second-quarter rebound will fade as the effects of tax cuts wane.

WASHINGTON — The U.S. economy slowed in the final three months of last year to an annual growth rate of 2.6%, the slowest pace since the beginning of 2018, as the government shutdown and other factors took a toll on growth. Economists believe growth has slowed even more in the current quarter.

Canadian gross domestic product grew at the fastest pace in five months on a lift from manufacturing, while oil made an unexpected contribution as prices began to fall for Alberta crude.

The U.S. economy remained on a solid footing in the third quarter, matching previously reported results, as stronger business investment and a bigger boost from inventories cushioned a trade drag that matched the worst since 1984.

WASHINGTON — The U.S. economy grew at a robust annual rate of 4.2% in the second quarter, the best performance in nearly four years, though economists believe growth has slowed in the current quarter partly because of a drag from trade

WASHINGTON — The Federal Reserve reported Sept. 12 that its latest survey of business conditions nationwide found rising concerns over the impact Trump administration trade policies could have on the economy.