Economy

Retail sales in the U.S. reversed course in August along with industrial production, both taking a hit due to due to recent storms, as price inflation reared its head, while consumers appeared to be ever resilient.

The level of for-hire freight shipments in the U.S during July hit another record high, according to new Transportation Department figures, eclipsing two previous records set just earlier this year.

In the early 1990s, it was common to hear economists define a healthy economy as one with gross domestic product growth of around 3% annually.These days, when growth gets close to that “magic number,” it’s greeted with a yawn — and it shouldn’t, says business contributing editor Evan Lockridge.

"Sometimes growing stronger is also the next thing that leads to the next recession." Dr. Larry Davidson, professor emeritus of business economics and public policy at Indiana University’s Kelley School of Business, talked about "secular stagnation" at the FTR Transportation Conference.

An indicator of business spending surged in July despite a big drop in total factory orders, according to final numbers released Tuesday by the Commerce Department.

Job growth slowed in August, according to government numbers released Friday, while other economic reports showed manufacturing hitting a six-year high as total construction spending unexpectedly slowed – and consumers are in the best mood since 2000.

The widest measure of the health of the American economy was revised higher for the second quarter of the year, hitting its best pace in two years, while separate reports show hiring and consumers' feeling about the economy remain strong.

Recent reports on industrial activity have done little to change FTR's viewpoint on the strength of the U.S. economy or freight demand.

New orders for big-ticket durable goods fell in July by the most in nearly three years, while the market for existing home sales cooled following a drop in new home sales.

The value of freight moved between the U.S. and its North American Free Trade Agreement partners Canada and Mexico increased in June for the eighth consecutive month, according to new Transportation Department figures, though the hike for trucking was less than most other modes.

A first look at business conditions in the U.S. manufacturing sector for August showed it continued to improve, though at a slightly weaker pace, while a separate report shows the volatility of the new home market.

FTR’s Trucking Conditions Index fell by more than two points in June as a result of increased costs for labor, fuel, and equipment, reflecting less favorable conditions for trucking.

New economic reports this week paint a picture of a U.S. economy that continues to gain momentum following a slow start to the year, due in part to increased e-commerce – despite some bumps in the road for manufacturing and housing.

One of the biggest drivers of the U.S. economy shifted into high gear in July, posting its biggest gain in seven months, according to a new Commerce Department report.

Boosted by continuing retail sales growth, August is expected to be the busiest month on record for imports at the nation’s major retail container ports and 2017 is on track to set a new annual high, according to the monthly Global Port Tracker report released Friday by the trade group the National Retail Federation (NRF) and the consulting firm Hackett Associates.

After hitting a new record high in May, a measure of the amount of freight moved by the nation’s for-hire transportation industry declined in June, according to new Transportation Department figures.

Newly released U.S. Transportation Department figures show all but one of the major freight modes have grown since the end of the Great Recession, with trucking posting the second-highest increase.

Employers in the U.S. continued adding a strong number of jobs in July, while separate reports show better exports and factory orders.

U.S. manufacturing activity in July remained solid, according to two reports issued Tuesday while separate ones showed overall construction activity in the U.S. eased as consumer spending and personal incomes barely improved.

A rise in the value of cross-border trucking freight between the U.S. and the other two North American Free Trade Agreement partner counties helped push total value of commodities higher for the seventh straight month in May, according to a new Transportation Department report.