The United States lagged far behind market expectations, adding just 18 billion cubic feet to its natural gas supplies for the week ending Aug. 12, the Energy Information Administration (EIA) noted in its weekly natural gas inventory report on Thursday. The slow injection rate for the week, compared to expectations of about 30 Bcf, pushed … Read more
Consumer confidence is at an all-time low, according to new research, in the face of “acute concerns” about the rising cost of living and the bleak economic outlook. GfK’s consumer confidence barometer, which has been running since 1974, provides a monthly snapshot of the public mood on key economic issues. The group index fell three … Read more
Tax Executive Committee chairman Jan Lewis discusses how the middle class and small business could be impacted by new IRS funding on ‘Cavuto: Coast to Coast’. After the Congressional Budget Office reported that 78 to 90% of revenue from new audits under the Inflation Reduction Act will come from families earning less than $200,000 a … Read more
Analysts generally expect state-owned companies to outperform non-government developers in the latest real estate crisis. Pictured here in Guangxi, China, on August 15, 2022, is a real estate complex developed by the state conglomerate Poly Group. Future publication | Future publication | Getty Images BEIJING — Chinese real estate developers’ cash flows — a sign … Read more
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Inflation in Canada may have eased slightly in July, but at 7.6 percent, no Canadian family can avoid the high prices — and middle-income households are likely to get the worst of it, according to an analysis by TD Economics. According to the bank’s economists, inflation for middle-income households is 8.1 percent, the highest for … Read more
lAfter a world of rising energy bills, polluted rivers, labor shortages, falling levels of business investment, strikes and underfunded health care, thank you for small benefits. In any case, we are not concerned that the banks will go bankrupt. That assumption wasn’t necessarily safe when Covid hit in early 2020. Share prices of companies like … Read more
LAS VEGAS (KLAS) — Nevada inflation reached 6.8% this month, according to a recent Congressional report. Statistics from the Joint Economic Committee (JEC) show the rate rising from 6.2% in the previous month. In the past 12 months, inflation rose by only 1.2%. The rapid rise is hitting Nevadans in the wallet. Inflation is affecting … Read more
Australians earning less than $92,000 a year are now officially considered below-average incomes – as wages in every sector lag behind the rising cost of living. The median full-time weekly wage was $1,769.80 in May, the Bureau of Statistics has revealed. That means those who work at least 35 hours a week and earn less … Read more
Chef Alessandro Pirozzi, of Alessa by Chef Pirozzi, talks to customers at an outdoor table on the Promenade on Forest in Laguna Beach, CA on Wednesday, January 13, 2021. Paul Bersebach | MediaNews Group | Getty Images Even as restaurants and fast food chains raise menu prices, customers aren’t pulling back on tips to wait … Read more
A decline in US home sales and prices is likely just beginning, a prominent economist warned Thursday. Ian Shepherdson, chief economist at Pantheon Macroeconomics, said in a letter to clients that the recent housing market slump “is nowhere near bottoming, especially for prices.” His forecast came after existing home sales fell 5.9% in July to … Read more