WASHINGTON—Spending on U.S. construction projects increased 0.9 percent in November as strength in home building offset weakness in other parts of the construction industry. The November gain followed a bigger 1.6 percent rise in October and left construction spending up 4.4 percent through the first 11 months of 2020 compared to the same period in…
Factories Bounce Back From Covid-19 Hit, Tighter Controls Cloud Outlook
January 4, 2021
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Businesscoronavirus pandemicCOVID-19economic recoveryEconomiesglobal economylockdownsmanufacturingvaccination
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Manufacturers across Europe ended 2020 on a high while Asian factory activity expanded moderately thanks to increased demand in China, surveys showed, but the prospect of tougher coronavirus curbs clouded the outlook for the recovery. Despite hopes that vaccination programs being rolled out will eventually quell the virus, a resurgence of infections is forcing many…
US Stocks in 2020: A Year for the History Books
January 4, 2021
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Businesseconomic recoveryEconomieseconomyFederal ReserveIPOsMarketsS&P 500stock markettreasury yieldsU.S. economyUS
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NEW YORK—The year 2020 was a wild one for Wall Street, bookended by the end of the longest bull market in history with the battering of equities by the COVID-19 shutdowns, and a bungee-cord rebound on hopes for economic recovery that resulted in the shortest bear market on record. After closing at a record high…
Volatile Commodity Markets End 2020 Strong With Vaccines, Stimulus in Sight
Global commodity markets ended 2020 on a strong note, with recovering demand and widespread stimulus packages buoying prices after a roller coaster ride caused by the global coronavirus pandemic. Rollouts of vaccines to combat the virus and trillions of dollars in fiscal support are expected to boost investment and spending in 2021, spurring demand for…
Volatile Markets End 2020 Strong With Vaccines, Stimulus in Sight
Global commodity markets ended 2020 on a strong note, with recovering demand and widespread stimulus packages buoying prices after a roller coaster ride caused by the global coronavirus pandemic. Rollouts of vaccines to combat the virus and trillions of dollars’ in fiscal support are expected to boost investment and spending in 2021, spurring demand for…
US Jobless Claims Dip but Show Recovery Has Long Way to Go
Fewer Americans sought unemployment benefits last week, but the modest drop did little to dispel concerns that the U.S. job market and wider economy face an arduous recovery from the devastation inflicted by the coronavirus pandemic in 2020. The final major economic data point for a year that saw a recession of historic magnitude erupt…
This Time Is Not Different: More Debt, Less Growth
Commentary I remember that in 2009, three phrases were constantly repeated: “In this crisis measures are different, because governments are investing in the recovery by increasing public spending,” “the funds from the stimulus will strengthen the recovery,” and “central banks help a stronger recovery by lowering rates and increasing liquidity.” Then, 2010 arrived and the…
US Third-Quarter GDP Growth Revised Slightly Higher; Momentum Waning
December 22, 2020
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Businessconsumer spendingeconomic recoveryEconomieseconomygdp growthpandemic reliefrelief packageU.S. economyUS
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WASHINGTON—The U.S. economy grew at a record pace in the third quarter, fueled by more than $3 trillion in pandemic relief, the government confirmed on Dec. 22, but appears to have lost momentum as the year draws to an end amid raging new COVID-19 cases and dwindling fiscal stimulus. The economy plunged into recession in…
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