Obama's top economists say the nation is on track to make economic progress over the next two years, but say it would do even better if Congress would enact the additional spending he proposed in his most recent budget.
China's exports plunged by an unexpectedly large 18 percent in February, possibly denting hopes...
Stalled hiring in the manufacturing sector, coupled with a substantial rise in the in America’s...
Manufacturing production is expected to fare better than the overall economy, with anticipated growth of 3.2 percent in 2014 and 4.0 percent in 2015. The 2014 forecast is a slight increase from 3.1 percent predicted in the December forecast while the 2015 projection is down from 4.1 percent.
The increase moved the February Southeast PMI to a more solid level of growth and its highest reading since May 2012. New orders and production increases of 10 and 7 points, respectively, were instrumental for such a strong increase.
The U.S. trade deficit widened slightly in January as a rise in imports of oil and other foreign goods offset a solid increase in exports.
Hiring improved in February from the previous two months despite a blast of wintry weather, likely renewing hopes that growth will accelerate this year.
The $1 billion appropriation would create a series of 45 advanced manufacturing centers designed to spur research, development and deployment of next generation technologies that will enhance manufacturing competitiveness and job creation in the United States.
Orders to U.S. factories fell in January for a second straight month but a key category that signals business investment plans rebounded.
The river of money flowing through this 1,800-square-mile peninsula has also driven housing costs to double in the past five years while wages for low- and middle-skilled workers are stagnant.
U.S. productivity grew at an even slower annual rate than previously thought in the final three months of last year, but economists are hoping productivity growth will revive in 2014, reflecting a stronger economy.
The number of people seeking U.S. unemployment benefits dropped 26,000 last week to a seasonally adjusted 323,000, the lowest level in three months as layoffs remain at pre-recession levels.
Thirty-five factories were closed or torn down in Pingshan county as part of the government's drive to clear up China's notoriously smoggy skies, but shutting plants has taken a human and economic toll in lost jobs and income.
Seeking to dramatize his push for higher wages, Obama dined out in Connecticut in a restaurant where employees get considerably more than the $7.25-an-hour federal minimum.
Even so, conditions improved in most U.S. regions, helped by slight gains in areas such as employment and commercial real estate.
The National Association of Manufacturers and the Alliance for American Manufacturing have both released opinions on President Obama's $3.9 trillion budget proposal. Interestingly, they don't agree.
Republicans are dismissing President Barack Obama's new $3.9 trillion budget as nothing more than a Democratic manifesto for this fall's congressional campaigns.
A private survey shows that U.S. companies added slightly more jobs in February than in the previous month, but harsh winter weather weighed on hiring for the third straight month.
Obama sent Congress a $3.9 trillion budget that would funnel money into road building, education and other economy-bolstering programs.
“Though the southeastern Michigan economy has slowed a bit, there’s no reason to believe that this is a long-term slowdown, at most it could be described as a temporary cooling of the economy,” said Timothy Butler, associate professor of supply chain management at Wayne State’s School of Business Administration.
A monthly economic survey index dropped slightly last month but still suggests growth over the next three to six months for nine Midwestern and Plains states.
Inventories had gotten well ahead of demand in the latter months of 2013. While it appears that stocks are now coming back into balance, manufacturing growth is still likely to be slower in the first half of 2014 than in the fourth quarter of 2013.
Buffett said: “If you could have a minimum wage of $15 and it didn't hurt anything else, I would love it. But clearly that isn't the case.”
Like their peers in other sectors, industrial manufacturing CEOs are much less worried about the global economy than last year, although exchange rate volatility and energy costs are still big concerns.
U.S. manufacturing expanded more quickly last month, but a measure of production fell to its lowest level in nearly five years, likely a casualty of severe winter weather.
The Commerce Department says that spending rose 0.4 percent in January following a tiny 0.1 percent gain in December.
Buffett says the economy continues the steady improvement that began in fall of 2009 and he remains optimistic about the future.
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