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The Latest Breaking News from the Commerce Department

New Budget Deal Includes $12 Billion 'Cut' That Doesn't Actually Cut Anything

Anatomy of a budget gimmick.

Reason

US New Home Sales Up In 2023, Boosted By Limited Existing Supply

Sales of new US homes jumped in 2023, according to government data released Thursday, supported by a lack of inventory in the existing homes market as mortgage rates remained elevated.

International Business Times

US Economy Closes In On 'Soft Landing' As GDP Grows 3.3% In 2023 Q4

The U.S. Gross Domestic Product (GDP) increased at a 3.3% rate -- well ahead of the 2% projected by Wall Street Journal and Bloomberg.

International Business Times

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US Growth Picks Up In 2023 On Jobs And Consumer Spending

US economic growth was stronger than expected in the final months of 2023, government data showed Thursday, offering a boost to President Joe Biden as he starts his reelection campaign.

International Business Times

US Retail Sales Beat Expectations In December To Wrap Solid Year

US retail sales accelerated more than anticipated in December, closing out a year marked by resilient consumption, government data showed on Wednesday.

International Business Times

New Tariffs on Tin Cans Get Biden Administration Approval

There's no good reason for the government to block Americans' access to cheaper tin cans.

Reason

US Trade Deficit Narrows Unexpectedly In November

The US trade gap narrowed in November as imports and exports both fell while higher interest rates bite, the government reported Tuesday.

International Business Times

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Biden administration announces $162 million to expand computer chip factories in Colorado and Oregon

The Biden administration is providing $162 million to Microchip Technology to support the domestic production of computer chips

The Independent UK

US New Home Sales Slow More Than Expected In November

Sales of new US homes cooled more than anticipated in November, slipping to the lowest level in a year, according to government data released Friday.

International Business Times

Report suggests Americans will spend big this holiday season, but you should spend with caution

Consumers should be aware of how they make their purchases this holiday season.

The Street

Holiday Shopping Gives November Retail Sales A Boost Despite Negative Forecast

US consumers kicked off a strong start to the holiday shopping season, according to the latest data from the Commerce Department, giving retail sales a boost despite negative expectations.

International Business Times

Retail Sales Surge as Americans Embrace Holiday Season

U.S. retail sales rose 0.3% in November, with an increase in restaurant and furniture store spending, signaling consumer power despite inflation.

Top News

US October Trade Deficit Widens Further On Decline In Exports

The US trade deficit continued to grow in October due to a fall in exports, according to government data published Wednesday.

International Business Times

US Fed's Favored Inflation Gauge Slows In October

A key inflation measure used by the US Federal Reserve to set interest rates eased further last month amid declining energy and goods prices, according to government data published Thursday.

International Business Times

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International Business Times

Sales Of New US Homes Slow In October

New home sales in the United States decelerated in October, according to government data released Monday, although the market for new properties remains boosted by a lack of inventory for existing ones.

The Street

Retail sales slow, but top Wall Street forecasts, as inflation pressures ease

Retail sales slowed last month, thanks in part to a big decline in gas prices, but topped Wall Street forecasts amid easing inflation pressures.

The Street

Week Ahead: Walmart report, inflation data, Biden-Xi summit will test Wall Street rally

Wall Street faces a series of stern tests this week, including a key inflation report, that could challenge its solid November rally.

Barchart

U.S. Consumer Spending Suggests PayPal Could Be a Contrarian Options Play

The Commerce Department reported yesterday that the economy’s annual growth rate was 4.9% in the third quarter, the fastest pace in almost two years, and more than double the second quarter.

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The Independent UK

The Commerce Department updates its policies to stop China from getting advanced computer chips

The Commerce Department has updated and broadened its export controls to stop China from acquiring advanced computer chips and the equipment to manufacture them

The Street

Treasury sees demand slump in $35 billion 10-year auction amid bond yield surge

A $35 billion auction of 10-year Treasury bonds saw a pullback in demand, despite notably higher yields, suggesting investors remain concerned about near-term inflation prospects.

The Street

Apple slump pulls chip stocks lower amid brewing US-China tech trade war

The Commerce Department's will probe details of a new chip in China-backed Huawei's Mate 60 smartphone to determine if it violates U.S. trade sanctions.

Investors Business Daily

Mortgage Demand Dives To 28-Year Low But This Luxury Builder's EPS Surged 60%

Housing market data for July showed existing-homes sales fell again. Meanwhile, Toll Brothers beat fiscal third-quarter expectations late Tuesday.

WEKU

The U.S. imports most of its solar panels. A new ruling may make that more expensive

The Commerce Department says solar panel makers in four Southeast Asian countries are evading U.S. duties on Chinese solar components. The finding could raise costs in the United States.

The Street

Retail sales leap in July on Amazon Prime Day boost, higher gas prices

Amazon Prime Day, which took in $6.4 billion in online orders, looks to have helped power a stronger-than-expected tally for July retail sales.

Investors Business Daily

Luxury Homebuilder Lennar, IBD Stock Of The Day, Near Entry As Construction Heats Up

Lennar, up 38% year to date, bounces off technical support into a buy zone. The stock's 21-day moving average could be another early entry.

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