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Consumer sentiment stabilizes at end of April — are unrealistic hopes for a quick recovery a factor?

Consumer sentiment appeared to stabilize toward the end of April after suffering the biggest decline ever, perhaps reflecting the raises hopes of Americans that the economy will improve later in the year after the early on...

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Durable-goods orders plunge 14% in March as autos, Boeing take big hit

Orders for durable goods sank 14.4% in March largely because of a decline in demand for big-ticket items such as new cars and trucks as the coronavirus swept across the country.

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Jobless claims jump another 4.4 million — 26 million Americans have lost their jobs to the coronavirus

The record surge of Americans applying for unemployment benefits is starting to recede, but another 4.4 million people filed new jobless claims last week to push the total above 26 million since the coronavirus pandemic la...

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U.S. service sector PMI slumps to record low in April

The IHS Market flash purchasing managers index for the service sector fell to a record low in April, while the manufacturing PMI weakened to the lowest level in 11 years, as business activity has slumped due to the lockdow...

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Millions of workers who applied for jobless benefits due to coronavirus still not getting money

Perhaps as many as 30% of people across the country who lost their jobs in the coronavirus pandemic have not been approved for unemployment benefits, either because of processing delays, outright rejection or the chance th...

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New home sales plummeted in March as onset of coronavirus pandemic made buyers wary of signing contracts

The inventory of newly-constructed homes for sale could be enticing to the buyers that do remain in the market.

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Unemployed workers applying for jobless benefits seen topping 25 million

The record surge in suddenly unemployed Americans likely grew by another million last week to push the total close to 25 million since the coronavirus pandemic shut down large parts of the U.S. economy a month and a half a...

Consumer confidence recovers from record drop, but Americans aren’t getting hopes up

The confidence Americans felt in the economy sank at record speed in the past month as the devastation from the coronavirus spread, but they are apparently more hopeful now that the worst of the damage has been done.

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Existing-home sales slump 8.5% in March — but the worst is yet to come as the coronavirus hits the U.S. housing market

Sales slowed in March before most states were under stay-at-home orders, suggesting even slower sales activity will be reflected in the data in future months.

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Chicago Fed economic index plunges, latest measure to reflect crippling effect of coronavirus on U.S. growth

A slump in factory output and a hit to employment indicators as the globe buckled under the coronavirus pushed the Chicago Federal Reserve’s monthly index tracking the national economy deep into negative territory last month

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U.S. leading economic indicators sink record 6.7% in March as coronavirus spreads

The collapse of the U.S. economy because of COVID-19 is becoming more evident by the day, the latest sign a record 6.7% decline in the leading economic indicators in March.

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Philly Fed manufacturing index plunges in April

The Philadelphia Fed manufacturing index in April fell to -56.6 after registering -12.7 in the prior month.

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Coronavirus erases almost all the 23 million new jobs created since the Great Recession

It took 10 years for the U.S. economy to create 23 million new jobs. It took the coronavirus pandemic just a month to destroy almost as many.

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Jobless claims soar by 5.25 million to push coronavirus-tied layoffs above 20 million

Some 5.25 million workers who have lost their jobs applied for unemployment benefits last week, driving the number of coronavirus-related layoffs above 21 million in just one month as the nation grapples with the worst pan...

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New-home construction records biggest monthly decline since March 1984, as coronavirus pandemic takes a toll

Housing starts and building permitting activity are still occurring at a faster pace than a year ago.

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Beige Book reports sharp contraction in activity and says business contacts expect conditions to get worse

The Federal Reserve’s Beige Book shows U.S. economic activity contracted sharply through early April and business contacts think conditions will get worse.

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Industrial output in March suffers largest drop since 1946

U.S. Industrial production fell 5.4% in March, the largest decline since January 1946, the Federal Reserve said Wednesday.

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Empire State manufacturing index plunges to record low in April

Business activity in the New York region plunged to negative 78.2 in April, the New York Fed said Wednesday.

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Jobless claims might top 5 million for third straight week, push unemployment to 15%

Some 5 million Americans likely applied for jobless benefits for the third week in a row in mid-April as the coronavirus took an even bigger bite out of the U.S. economy, pushing the unemployment rate to around 15% unoffic...

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Coronavirus brings nightmarish March for most retailers, but one group smashes sales records

Even in their worst nightmares, U.S. retailers could not have imagined such an apocalyptic loss of sales in the early stages of the coronavirus pandemic and that’s left many companies just struggling to survive. Here’s who...

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Retail sales plunge a record 8.7% in March as coronavirus crisis freezes U.S. economy

The onset of the coronavius pandemic triggered a record 8.7% slump sales at U.S. retailers in March as large swaths of the economy shut down — and there’s no light at the end of the tunnel.

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Home-builder confidence plummets to lowest level since 2012 as coronavirus disrupts construction activity

The index from the National Association of Home Builders posted its largest monthly decline ever in April.

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Oil price war spurs biggest drop in import prices in three years and slams U.S. energy industry

A price war between Russia and Saudi Arabia drove the cost oil sharply lower in March and triggered the biggest decline in U.S. import prices in more than three years, delivering a big blow to American energy producers eve...

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Coronavirus collapse pulls down U.S. consumer prices in March

Consumer prices fell sharply in March due in large part to energy and the coronavirus collapse in the economy , the Labor Department said Friday.

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Jobless claims soar 6.6 million in early April as coronavirus devastates U.S. labor market

The latest round of coronavirus-induced layoffs and furloughs soared by 6.6 million in the first week of April, bringing total job losses in less than a month to a stupefying 16.8 million.

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