Construction spending increases in May
Construction spending during May 2023 was estimated at a seasonally adjusted annual rate of $1,925.6…
Construction spending during May 2023 was estimated at a seasonally adjusted annual rate of $1,925.6…
The labor market remained tight in June, according to the latest nonfarm payroll data from the Bureau of Labor Statistics. The unemployment rate was little changed at 3.6%. The monthly increase was driven by gains in education and health services, government, and construction that more than offset declines in trade and transportation.
Rising costs and higher interest rates highlight the increased importance of small-business access to capital. Fintech firms might have faster approval processes, but highly regulated bank options and programs coordinated with the SBA provide more flexibility at competitive rates.
Americans’ optimism about the state of the economy continues to improve but it is still negative overall, according to Gallup’s most recent Economic Confidence Index.
Real GDP increased at a seasonally adjusted annual rate of 2.0% during the first quarter…
New orders for manufactured durable goods in May, up three consecutive months, 1.7% to $288.2…
Sales of new single‐family houses in May 2023 were at a seasonally adjusted annual rate…
Large banks are well positioned to weather a severe recession and continue to lend to households and businesses even during an economic downturn, according to the results of Dodd-Frank Act-mandated stress tests, the Federal Reserve said.
The Federal Open Market Committee may raise the federal funds rate at least two more times as it continues the fight against inflation, Federal Reserve Chairman Jerome Powell said.
The OCC said that first-lien mortgages in the federal banking system performed better during the first quarter of 2023 than during final quarter of last year