Imports at the major retail container ports in the US have slowed down after a months-long rush to beat increased tariffs on goods from China, the National Retail Federation (NRF) said.
Tag Archives: Economy
Tom Wilson, CEO of Allstate, the insurance giant, believes an iconic element of the national character is doomed. “Americans’ love affair with the car is going to go away,” he told an audience of executives at Fortune’s Brainstorm Tech dinner on the sidelines of the Consumer Electronics Show in Las Vegas on Monday evening.
U.S. employers added the most workers since February last month and wages ticked up, providing a reassuring sign of economic strength amid concerns over stock market volatility, rising federal interest rates and a trade war with China. Non-farm payrolls grew by 312,000 jobs in December, according to numbers released Friday by the Labor Department.
The U.S. average retail price of diesel dropped 3.5 cents to $3.013 a gallon, the U.S. Energy Information Administration reported Jan. 7, even as crude oil prices saw some renewed vigor and approached $50 per barrel.
China surpassed the United States in annual gross crude oil imports in 2017, importing 8.4 million barrels per day (b/d) compared with 7.9 million b/d for the US, according to the US Energy Information Administration (EIA).
Imports at the nation’s major container ports slowed in November 2018 after a months-long rush to beat increased tariffs on goods from China, according to the National Retail Federation (NRF) and Hackett Associates.
Factory activity weakened across much of Europe and Asia in December as the U.S.-China trade war and a slowdown in demand hit production in many economies, offering little reason for optimism as the new year begins.
A survey of American manufacturers showed the slowest growth in December in 15 months, reflecting a dip in confidence among executives about how their businesses will perform in the new year. IHS Markit said its manufacturing PMI slipped to 53.8 in December from an initial reading of 53.9, and it was down from 55.3 in the prior month.
Oil started 2019 with another price slide as weaker Chinese manufacturing data pointed to slowing demand in the world’s second-biggest consumer of the fuel and to growing risks of a global crude surplus.
The U.S. average retail price of diesel dropped 2.9 cents to $3.048 a gallon, the U.S. Energy Information Administration reported, as crude oil prices hovered around $45 per barrel.