Japan logged its 23rd successive month of trade deficits in May, as exports and imports both declined despite signs of recovering demand in the U.S. and Europe.
The Federal Reserve has sharply cut its forecast for U.S. growth this year, reflecting a shrinking economy last quarter caused mostly by harsh weather.
A drop in U.S. exports and lower income from overseas investments drove the U.S. current account deficit to its highest level in 18 months.
Surrounded by an array of gadgets and high tech equipment, Obama pledged to boost American manufacturing and to give entrepreneurs greater access to production tools that would help bring their ideas to fruition.
The report offers economic forecasts for 23 of the 27 industries. MAPI anticipates that 20 industries will show gains in 2014, 2 will remain flat, and just paper production will decline.
Optimism among chief executives of large U.S. companies has reached a two-year high, driven by greater optimism about hiring and sales.
U.S. consumer prices increased in May by the largest amount in more than a year as the cost of food and gasoline showed big gains and airline fares jumped by the largest amount in 15 years.
The increase has been a top second-term political priority for the president and his allies in Congress, but it is stalled in the Republican-led House of Representatives.
The report is a very positive confirmation that the manufacturing sector will continue to grow faster than the general economy this year and next. Growth is driven by a ramping up of the housing supply chain.
The International Monetary Fund foresees the U.S. economy growing a modest 2 percent this year, below its previous estimate of 2.7 percent.
U.S. manufacturing output rose in May after in shrinking in April, led by greater production of autos, computers and furniture.
The downfall of manufacturing in the U.S. has done more than displace workers and leave communities searching for ways to rebuild devastated economies.
The prices U.S. companies receive for their goods and services fell in May, driven lower by cheaper food and gas, evidence that inflation is mild.
Historically, at this stage in the economy's recovery, pay would be rising in most sectors. But five years after the Great Recession officially ended, raises remain sharply uneven across industries and, as a whole, have barely kept up with prices.
U.S. businesses increased their stockpiles in April by the largest amount in six months, signaling business optimism that future demand will keep rising.
U.S. retail sales rose for a fourth straight month in May, adding to evidence that consumer spending will contribute to stronger economic growth.
More Americans filed for unemployment benefits last week, but claims for jobless aid remain near pre-recession levels.
The U.S. government's monthly budget returned to deficit in May after a big April surplus. But the overall imbalance so far is far smaller than it was the same period last year, putting the country on track for the lowest annual deficit in six years.
A new federal lawsuit is challenging Seattle's adoption of the nation's highest minimum wage as unfair to small franchises.
Treasury Secretary Jacob Lew says the economy should grow at much stronger rates the rest of this year as the country overcomes the impact of a harsh winter.
White Pine's impending rebirth is almost miraculous to local residents who have borne the brunt of its demise, but it's part of something even bigger: a surprising resurgence of a mining industry that once was an economic pillar in three Upper Midwestern states.
U.S. wholesale businesses built up their stockpiles of goods in April, a sign that companies expect stronger economic growth in the coming months.
This first-of-its-kind facility in Greenville, South Carolina, will serve as an incubator for innovative advanced manufacturing process development and rapid prototyping.
U.S. companies advertised more jobs in April than in any month in six and a half years, a possible harbinger of strong hiring in the months ahead.
The Manufacturers Alliance for Productivity and Innovation (MAPI) Quarterly Economic Forecast predicts that inflation-adjusted gross domestic product will expand 2.5 percent in 2014 and 3.2 percent in 2015. The former is a decrease from 2.8 percent and the latter equal to the 3.2 percent from MAPI’s March 2014 report.