New reports have indicated that China’s exports to the U.S. plummeted in May. This sharp declines comes as a temporary truce between the world’s two largest economies arrived “too late” to prevent major port disruptions.
Read More Chinese exports to U.S. plummet 35% in May — biggest decline since COVID began
Jobless claims just hit a several-month high, rising by 18,000 according to the Labor Department.
Read More Spring Break Spike Or Warning Sign? Jobless Claims Jump As Economy Sends Mixed Signals
The latest GDP numbers show the economy shrank by 0.3% last quarter, raising concerns about whether this is a retreat or a reset.
Read More Mixed Economic Signals: Shrinking GDP, Inflation Cooling, Soaring Debt, and Trump’s Optimism for Future Growth
Retail sales rebounded marginally in February as consumers pulled back on discretionary spending, reinforcing the growing uncertainty over the economy.
Read More US retail sales rebound moderately; underlying trend remains firm
U.S. retail sales dropped by the most in nearly two years in January, likely because of frigid temperatures and moderation following hefty gains in the past four months.
Read More US retail sales post largest drop in nearly two years in January
Anthony Saccaro, President of Providence Financial and Insurance Services, joins Alicia Summers to discuss what’s driving consumer spending despite inflation, the Federal Reserve’s decision to keep interest rates steady, and what this means for the economy.
Read More U.S. Economy Grows 2.3% In Q4, Consumer Spending Increases Despite Inflation And High Interest Rates