WASHINGTON (AP) — Americans’ view of the U.S. economy improved this month, but Americans remain concerned about the impact of tariffs on their economic futures.
The Conference Board said Tuesday that its consumer confidence index rose two points to 97.2 in July, up from 95.2 the previous month.
The increase in confidence was in line with analysts’ forecasts.
In April, American consumers’ confidence in the economy sank to its lowest reading since May 2020, largely due to anxiety over the impact of President Donald Trump’s tariffs.
A measure of Americans’ short-term expectations for their income, business conditions and the job market rose 4.5 points to 74.4, however that’s still well below 80, the marker that can signal a recession ahead.
Consumers’ assessments of their current economic situation inched down by 1.5 points to 131.5.
U.S. applications for unemployment benefits fell last week as employers continue to retain workers despite resurgent inflation and elevated interest rates. The number of Americans filing for jobless benefits fell by 7,000 to 213,000 for the week ending February 8, the Labor Department said Thursday. Analysts projected that 215,000 new applications would be filed. Weekly applications for jobless benefits are considered representative of layoffs. The total number of Americans receiving unemployment benefits for the week of February 1 fell to 1.85 million, a decrease of 36,000 from the previous week.
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
U.S. inflation got worse, according to the latest data.
If any husbands or boyfriends mess up Valentine’s Day this week, it’s not because of a shortage of flowers.
U.S. tariffs on steel and aluminum “will not go unanswered,” European Union chief Ursula von der Leyen vowed on Tuesday, adding that they will trigger toug
President Donald Trump is hitting foreign steel and aluminum with a 25% tax. If that sounds familiar, it’s because he did pretty much the same thing during
A group of investors led by Elon Musk says it is offering $97.4 billion to buy the nonprofit behind OpenAI.
U.S. businesses are stockpiling Prosecco as a hedge against possible tariffs.
The S&P 500 jumped 1.9% Wednesday.
The IRS it’s distributing about $2.4 billion to taxpayers who didn’t receive their COVID stimulus payments.
