US Consumer Confidence Tumbles in July as COVID-19 Spreads

WASHINGTON — U.S. consumer confidence tumbled in July to a reading of 92.6 as coronavirus infections spread in many parts of the country. The consumer confidence index is closely watched for signals it can send about future consumer spending, which accounts...
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US New Home Sales Rise Surprisingly Strong 16.6% in May

WASHINGTON — Sales of new homes rose a surprisingly strong 16.6% in May with the reopening of major parts of the country potentially fueling activity in the housing market. The Commerce Department reported Tuesday that sales of new single-family homes rose ...
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Risk of Reopening US Economy Too Fast: A W-Shaped Recovery

WASHINGTON — When the coronavirus erupted in the United States, it triggered quarantines, travel curbs and business shutdowns. Many economists predicted a V-shaped journey for the economy: A sharp drop, then a quick bounce-back as the virus faded and the econo...
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Factory Shutdowns Near WWII Demobilization Levels in US

WASHINGTON — American industry collapsed in March as the pandemic wreaked havoc on the U.S. economy. Manufacturing and overall industrial production posted the biggest declines since the United States demobilized after World War II. The lockdowns and travel...