The Mystery of the U.S. Economy
Dana Peterson, the chief economist at the Conference Board, believes that the sharp decline of the U.S. business group's Leading Economic Index indicates that a recession will soon take hold in the United States.
Go Deeper (3 min read)Buffet Is Still Bullish
Billionaire investor Warren Buffett has expressed unwavering confidence in the U.S. economy and his company, Berkshire Hathaway, in his annual letter to shareholders released on Saturday.
Go Deeper (2 min read)Policymakers also emphasized that controlling high inflation levels would be the critical factor in determining the extent to which rates needed to rise.
Go Deeper (2 min read)U.S. Retail Sales Smash Estimates
Retail sales increased more than expected in January, despite rising inflation. According to the Commerce Department, sales for the month rose by 3%, exceeding the expected rise of 1.9%.
Go Deeper (2 min read)A Shallow Recession?
The International Monetary Fund has even increased their prediction for global growth in 2023, and the once inevitable European recession is now not seen as such a big concern.
Go Deeper (2 min read)More from Markets
U.S. Home Sales Fell 7.7%
As a result of high mortgage rates and home prices, which drove many potential buyers out of the market, existing-home sales in the United States fell for a record 10th consecutive month in November.
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China's Factory Activity Slows Down
According to the National Bureau of Statistics, October saw a decline in factory activity in China as a result of recurrent Covid outbreaks. According to the report, the official purchasing managers' index for manufacturing decreased from 50.1 in September to 49.2 last month.
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Inflation Is Easing
The consumer price index, which tracks how much people pay for goods and services, increased 7.1% in November from a year earlier, according to the Labor Department on Tuesday. This is a considerable decrease from the 7.7% rise seen in October.
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Preparing For A Recession
David Solomon, the chief executive of Goldman Sachs Group, said that the company would have to cut back on spending and hiring as it cope with a slowing economy.
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Real Estate Space Gets A Hit
As they downsize, the large technology corporations that fueled U.S. office demand for years as they built up their empires are now breaking leases and saturating commercial areas with office space.
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Party Over Profits
Since taking office in 2012, Xi Jinping has prioritized ideological purity, national security, and Communist Party dominance. Additionally, he has insisted on tighter government regulation of the economy.
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