Transportation Economy News Updates

Economists say the country is close to full employment, but pay gains for American workers have been flat since 2015. Even last week’s upward blip in wage growth could be wiped out by inflation. Yet Americans haven’t been this optimistic about future pay raises since the century began, according to the Conference Board’s monthly surveys.

WASHINGTON — Economists for trade associations representing manufacturing, construction and retail industries said during an industry conference here that they expect positive growth to continue for the remainder of 2018, with little chance of a downturn over the next year or so despite the threat of increasing trade tensions, rising interest rates and higher costs.

WASHINGTON — The U.S. economy grew at a strong 4.2% annual rate in the April-June quarter, the best showing in nearly four years, as growth stayed on track to produce its strongest gain in more than a decade. Strength in business investment offset slightly slower consumer spending.

The Federal Reserve described economic activity as “strong” in a statement Aug. 1, the first time it has done so since it called it “quite strong” in May 2006 — in the late stages of the last economic expansion, shortly before the housing market drove the economy into meltdown.

WASHINGTON — Spending on U.S. construction projects fell 1.1% in June, the biggest decline in more than a year as spending on public construction dropped at the highest rate in more than five years.

WASHINGTON — Consumer spending rose by a solid 0.4% in June, while a key gauge of inflation increased at an annual pace of 2.2% for a second straight month — the strongest back-to-back gains in six years.

WASHINGTON — The U.S. economy surged in the April-June quarter to an annual growth rate of 4.1%. That’s the fastest pace since 2014, driven by consumers who began spending their tax cuts and exporters who rushed to get their products delivered ahead of retaliatory tariffs.

High-level talks for a new NAFTA are picking up again this week following two months of limited negotiations that were marred by tit-for-tat tariff battles and diplomatic fallout.

President Donald Trump lit into critics of his tariffs, saying discord — some from Republicans in Congress — undercuts his ability to narrow the U.S. trade gaps with other countries.

The U.S. Treasury Department has gone from economic diplomats to trade warriors, a shift that leaves Secretary Steven Mnuchin once again exposed to broadsides from global counterparts as tensions grow ahead of a multilateral summit.