Rapid Wage Growth Keeps Pressure on U.S. Inflation
Workers’ wages are rising briskly, a factor contributing to four-decade high U.S. inflation.Average hourly earnings grew 5.2% in July from...
Economic News
Videogame Companies Face Slowdown as People Spend Less on Gaming
The videogame industry is seeing a sharp slowdown in growth as people are going out again after a pandemic-fueled spurt...
U.S. Added 528,000 Jobs in July
The U.S. economy has now recouped the 22 million jobs lost early in the pandemic, adding 528,000 positions in July...
Bank of England Makes Biggest Rate Rise Since 1995 as Inflation Soars
LONDON—The Bank of England raised its key interest rate by a half percentage point Thursday, the largest single step in...
Rivian Says Senate Climate Deal Puts It at Disadvantage
Electric-vehicle startup Rivian RIVN 0.57% Automotive Inc. is warning that planned revisions to the EV tax credit would put the...
Economy Week Ahead: Hiring and Trade in Focus
New Mexico state Sen. Michael Padilla’s office hosted a job fair in Albuquerque in July. Photo: Albuquerque Journal/Zuma Press Monday...
China’s Stumbling Manufacturing, Property Sectors Show Long Road to Recovery
China’s major economic pillars wobbled in July with weakness in manufacturing and the all-important property sector, showing the pressure on...
If This Is a Recession, We Might Not Know for Months
As the Federal Reserve continues to raise interest rates in its fight against the highest inflation in more than four...
Inflation Hits Fresh Four-Decade High, According to Fed’s Preferred Measure
Inflation accelerated in June, measured by the Federal Reserve’s preferred gauge, driven by a jump in energy prices as well...
Treasury Moves to Ease Limits on Foreign Tax Credits After Companies Object
WASHINGTON—The U.S. Treasury Department is softening its limits on foreign tax credits, responding to corporations that have been warning about...
Economy Week Ahead: U.S. Growth, Interest Rates and Wages in Focus
Tuesday The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas, will show...
Cheaper Beer, Cigarettes Gain Favor as Inflation Pinches Shoppers
Shoppers are trading down to cheap beer brands and discount cigarettes as they feel more pressure on their pocketbooks.Consumer prices...
Russia, Ukraine Clear Way for Grain Exports to Resume Amid Fears of Global Food Crisis
ISTANBUL—Russia and Ukraine agreed Friday to resume exports of millions of tons of Ukrainian grain via the Black Sea for...
Russia’s Central Bank Slashes Rates, Sees Smaller Hit From Sanctions
Russia’s central bank Friday lowered its key interest rate below its prewar level, and said it expects the economy to...
ECB Raises Rates by Half-Percentage Point in First Hike Since 2011
FRANKFURT—The European Central Bank raised interest rates by a larger-than-expected half-percentage point and unveiled a new plan to buy the...
U.S. Home Prices Hit New Record of $416,000 in June as Sales Continued to Slide
The median existing home price hit another record in June, rising to $416,000, and sales declined for the fifth straight...
Inflation Has Outpaced Wage Growth. Now It’s Cutting Into Spending.
Early in the Covid-19 pandemic, U.S. wage growth accelerated, as weekly earnings jumped more than 7% in April and May...
U.S. Retail Sales Rose 1% in June
June’s increase came after sales declined slightly in May, the Commerce Department said Friday.Consumers spent more last month across a...
Fed Official Says 0.75-Point Interest Rate Rise Seems Most Likely in July
Federal Reserve officials are wrestling with how to set expectations for their policy meeting in two weeks after another scorching...
Hot Inflation Report Puts Pressure on Federal Reserve
Another big increase in consumer prices last month led investors Wednesday to anticipate that the Federal Reserve would strongly consider...
