US GDP Rises 2% After Shutdown; Iran Risk

 

WASHINGTON. The U.S. economy expanded at a 2% annualized rate in the first quarter of 2026, the Commerce Department reported Thursday, rebounding from a 0.5% pace in the final quarter of 2025 after last fall's 43-day federal government shutdown; the agency provided detailed component data for January through March. The Commerce...

Inflation rises as gas spike delays Fed rate cuts

 

Washington — The Commerce Department reported Thursday that the Personal Consumption Expenditures price index rose 0.7% in March from February and 3.5% year-over-year, the largest annual increase in nearly three years. Gasoline prices surged about 21% in March, and outlets linked the spike to tensions involving Iran this month. The increase...

US weekly jobless claims tumble to five-decade low

 

WASHINGTON — The U.S. Labor Department reported Thursday that initial jobless claims fell to 189,000 for the week ending April 25, a 26,000 decrease from the prior revised level of 215,000, marking the lowest weekly level since 1969 and reducing the four-week moving average to 207,500 this week. Market participants this...

Regional Pump Prices Surge Across U.S. Local Markets

 

Detroit commuters this week experienced sharp increases in gasoline prices as regional pump costs rose amid refinery maintenance and global oil market tensions; GasBuddy reported Michigan averages jumped from $3.78 to $4.19 between April 21 and April 28, and several local stations added noticeable surcharges on signs. Cleveland, San Diego and...

U.S. Gas Prices Rise Across Midwest, Analysts Warn

 

United States. Regional markets reported notable pump-price increases this week as local surveys from GasBuddy and AAA showed gasoline averages rising across multiple Midwestern cities. On Monday and over the prior week, Toledo, Columbus, Metro Detroit, Michigan statewide and Peoria all recorded week-over-week increases ranging from roughly 4.6 to 26.3...

Regional Pump Prices Slip Amid Continued Crude Volatility

 

Lubbock, Texas — Gasoline prices fell for the second consecutive week across multiple U.S. regions this week, according to AAA and local reports. Texas statewide average was reported at $3.60 per gallon while Lubbock averaged $3.30; metro Phoenix recorded a 12-cent decline over the past two weeks and Virginia’s average...

Florida and Peoria Officials Tackle Housing Affordability Crisis

 

Tampa, Fla. Industry leaders, builders, realtors and elected officials met this week at the Florida Policy Project Summit to address housing affordability, reporting average Florida home prices now between $375,000 and $420,000 — roughly double pre-COVID levels — and noting rising interest rates that have increased monthly mortgage costs for...

Local unemployment rates vary amid major plant-closure impacts

 

Warren, Ohio. Unemployment rates changed markedly across several jurisdictions during February, with the Ohio Department of Job and Family Services reporting declines in Mahoning, Trumbull and Columbiana counties this week; Trumbull was 6.6 percent, Mahoning 6.2 percent and Columbiana 5.4 percent compared with January figures while Youngstown and Warren also...

U.S. March Retail and Pending Home Sales Rise

 

Washington — The U.S. Commerce Department reported on Tuesday that retail sales climbed 1.7% in March after an upwardly revised 0.7% gain in February, while the National Association of Realtors said pending home sales rose 1.5% in March. Excluding autos, retail receipts increased 1.9%, and sector-level data showed sharp gas-station...

Local Gas Prices Fall, Analysts Warn Of Rebound Risk

 

Peoria, Illinois. Local gasoline prices fell this week as GasBuddy and AAA reported declines across multiple U.S. metros: Peoria averaged $4.19 per gallon Monday, Toledo averaged $3.60 this week, Green Bay averaged $3.74, and Michigan averaged $3.83, while the national average dipped to $3.97 over the weekend. The drops provided immediate...