US economy

US March budget deficit increases to $108 billion

The US government faced a steady increase in March budget scarcity, leading to a higher deficit in the first half year period compared to the previous year period.

Global fears prevent US Fed from rate hike plan

The adverse conditions in the global economy and weaker stocks on Wall Street may prevent the US Federal Reserve from going for a rate hike again. Some analysts forecast four more rate hikes in 2016, while Reuters' poll indicate three times hike this year. The slump in commodities, weaker global markets, slowdown in China's economy and lower oil prices are causes of concerns for the US Fed as these are upsetting the Wall Street.

US housing surges 10.5% in November

The US housing activity rose 10.5 percent in November. The construction activity in the single-family housing touched eight-year high. Builders turned optimistic on the US housing market. The mortgage rates are set to go up after the US Federal Reserve hiking the interest rate.

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US consumer credit growth below forecast in October

The consumer spending slowed down in October. The latest data from the US Federal Reserve indicated the cautious approach of American consumers ahead of major shopping season in the country. The consumer spending rose $15.98 billion to $3.5 trillion in October as against $38.5 billion growth registered in September. The auto and student loans propelled the consumer growth in October.

US Fed may hike interest rate in December

The top officials at US Federal Reserve are indicating a possible rise in interest rate in next December meeting if economic data is supportive. On the other hand, the rising dollar and weak global economy are impacting US exports, while easing pressure on imports.

Stocks rally higher as commodity prices rebound

U.S. stocks extended a rally, with the Standard & Poor’s 500 Index reaching a three-month high. The Energy and raw materials went up at least 17% from recent lows while the Nasdaq 100 also recorded a new high compared to July this year.

Obama confident that Congress will vote in favor of TPP

Obama told the audience during a meeting that he is confident that U.S. congress will agree with the TPP agreement. The deal which is expected to create the world's largest free trade zone has been criticized by many that it will not bring any good to the US.

Caterpillar's part suppliers are feeling the economic slowdown too

J-TEC and Acme Industries are among Caterpillar's biggest parts supplier that have been following Caterpillar footstep and reducing their workforce. Ever since Caterpillar sales went down, the company has pushed back some of its future parts orders causing a lost for these suppliers.

US home sales rise in August, Q3 forecasts in tact

New home sales were up in August, while business investment eased in August. The latest data for August indicates that US economy is not disturbed much with ongoing slugishness in the global economy. It's estimated that earlier forecast on US GDP growth rate of 1.4 percent is possible for the third quarter.

Final meeting for Trans-Pacific Partnership (TPP) will be held next week

Washington is planning to wrap up the TPP agreement in a meeting in Atlanta next week. Few issues will be resolved during the meeting such as for automotive industry, dairy products, and biological drugs.

Rise in low-income jobs makes the job easier for Fed in rate hike

The market analysts, economists say that current situation is favoring the US Fed to take a decision on interest rate hike. The improvement in labor market in low-income jobs is giving much needed support to the US Fed.

Jeb Bush promises 4% growth in US economy

Jeb Bush, former governor of Florida, has promised 4% growth in the economy for the world's largest country.

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Sharp drop in oil price might be good for the U.S instead of bringing more bad effect.

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