Higher food and energy prices helped propel the Producer Price Index up by 1.1 percent in December. But the outlook on the inflation rate is not entirely bleak, some say.
Surveys show that more consumers want to get a jump on Black Friday and shop on Thanksgiving Day. With retailers desperate to boost sales, an increasing number are staying open.
The economy created more jobs than expected – 151,000 – in October, the best showing since May. Jobs are being added in many sectors, including health care, retail, and temp agencies. The unemployment rate, though, still stands at 9.6 percent.
The US economy grew 2 percent in the third quarter, the Commerce Department reports. But imports limited the benefit to the GDP from increased consumer and business spending.
Intel on Monday announced it was spending up to $8 billion to upgrade factories in Oregon and Arizona, hiring thousands of US workers. Does Intel see something it likes in the US manufacturing market?
Unemployment rate watchers noted that summer is traditionally a slow season for hiring, but the economy continues to show signs of slow progress. The unemployment rate stayed at 9.5 percent in a jobs report issued Friday.
From Friday's GDP report: Imports are surging. Jobs growth is slowing. Regulators may need to lighten their grip. Until November's midterm elections, politics will color economic reports.
Consumer confidence fell almost ten percent in June. The consumer confidence index recorded the biggest drop since February.
The average US price of regular gasoline is now $2.75 a gallon, down from $2.87 a month ago. The last time prices at the gas pump fell leading up to Memorial Day was in 2005.
The Dow average was up by more than 340 points as of early Monday afternoon. Investors were relieved to see European leaders agree on a Greece debt plan.