U.S. consumer spending increased for a fourth straight month in July amid strong demand for automobiles, pointing to a pickup in economic growth that could pave the way for the Federal Reserve to raise interest rates this year.
Archive for August, 2016
Employees at food and beverage stores, good services and drinking places, and gasoline stations are seeing an acute rise in pay levels so far this year, according to Merrill Lynch.
U.S. housing starts unexpectedly rose in July as building activity increased across the board, supporting the view that investment in residential construction will rebound after slumping in the second quarter.
New Transportation Department figures show June marked the 18th consecutive month the total value of U.S. freight movements with North American Free Trade Agreement (NAFTA) partners Canada and Mexico declined from the same time a year earlier.
Federal safety regulators are proposing that heavy-duty vehicles be equipped with speed-limiting devices set to a specific maximum speed. A notice of proposed rulemaking was issued jointly on Aug. 26 by the National Highway Traffic Safety Administration and the Federal Motor Carrier Safety Administration.
Evolving from an Executive Order issued last year by Governor Edmund G. Brown Jr., and a draft version issued in May 2016, California has now released its Sustainable Freight Action Plan, a blueprint for moving the state’s multi-billion-dollar freight transport system into a more environmentally cleaner direction.
With 13 of the top 20 container lines reporting combined losses of $2.5 billion in the first half alone, industry losses will likely range from $8 billion to $10 billion for the full year, according to Lars Jensen, CEO of SeaIntelligence Consulting.
Oil prices fell nearly 2 percent on Monday, snapping two consecutive days of gains, on caution over galloping Middle East crude output and a stronger dollar boosted by speculation of a U.S. rate hike by the year-end.
Shipment volumes were flat from the previous month, and expenditures were down just 0.6 percent, but both still remained well below 2015 levels, according to the latest Cass Freight Index Report.
New orders for U.S. manufactured capital goods rose for a second straight month in July as demand for machinery and a range of other products picked up, offering a tentative sign that a business spending downturn was starting to ease.