U.S. GDP revised to 0.7% in fourth quarter

 

Washington. The Commerce Department reported Friday that U.S. gross domestic product grew at a 0.7% annual rate in the fourth quarter, revising down its initial 1.4% estimate. The agency reported a 16.7% plunge in federal spending tied to last fall’s 43-day government shutdown, which subtracted about 1.16 percentage points from...

U.S. CPI Rises 0.3% in February; March Risks Grow

 

WASHINGTON, U.S. consumer prices rose modestly in February as the Labor Department reported a 0.3% monthly CPI increase and 2.4% year-over-year inflation, with core CPI up 0.2% monthly and 2.5% annually. Economists surveyed by FactSet had forecast similar readings but warned that oil price shocks linked to the late-February Iran...

U.S. drivers confront rising gasoline prices amid conflict

 

United States — Gasoline prices rose sharply this week as crude oil climbed amid escalating Middle East tensions, prompting pump price increases across multiple states. AAA and local station data show state averages: Nevada $4.17, Florida $3.63, South Carolina $3.15, Ohio about $3.44 and Georgia $3.32, with national averages reported...

War with Iran Spurs Global Energy, Inflation Shock

 

Washington, global markets reacted this week as the war with Iran disrupted energy supplies and pushed commodity prices higher. Governments and central banks monitored supply-chain chokepoints after the U.S. and Israel launched missile strikes Feb. 28 that killed Iranian leader Ayatollah Ali Khamenei and prompted Iran to shut the Strait...

Oil Surges Above $100 as Iran Conflict Escalates

 

Chicago — Oil markets experienced sharp spikes as prices surpassed $100 per barrel amid an escalation of conflict involving Iran that disrupted regional production and shipping. Traders pushed Brent to about $108 on Sunday and to roughly $114 on Monday, while U.S. West Texas Intermediate climbed from about $91 Friday...

Washington: Trump's 'Roaring' Economy Falters Early Entering 2026

 

Washington — President Donald Trump promised a booming 2026 but the year opened with job losses, higher gasoline prices and market volatility, according to recent reports. The administration touted January's 130,000 payroll gain and a State of the Union claim that the economy was "roaring," while more recent data since...

U.S. Gas Prices Spike After Middle East Tensions

 

United States. Oil price spikes after recent U.S.-Iran-related strikes and disruptions at the Strait of Hormuz pushed global crude above $100 a barrel, prompting rapid pump-price increases this week. GasBuddy and AAA data show national averages rose roughly 51 cents in seven days to about $3.45 per gallon, with larger...

February payrolls show unexpected decline, mixed indicators

 

Washington — U.S. employers reversed expected gains and cut 92,000 jobs in February, and the unemployment rate rose to 4.4 percent, the Labor Department reported Friday. Revisions trimmed December and January payrolls by 69,000 after earlier forecasts had predicted about 60,000 new positions. Private payroll processor ADP counted roughly 63,000...

Judge Orders Refunds After Supreme Court Tariff Ruling

 

Washington — A federal judge moved this week to begin implementing refunds after the Supreme Court's Feb. 20 ruling invalidated tariffs imposed under the 1977 International Emergency Economic Powers Act. Judge Richard Eaton said importers of record are entitled to benefit and will oversee refund cases; he scheduled a closed...

U.S. motorists face rising gas prices after strikes

 

United States. Gas prices rose nationwide this week after U.S.-Israeli strikes on Iran, industry forecasters reported. GasBuddy, AAA and local analysts said crude oil futures jumped, prompting average pump increases ranging from few cents to over $0.20 per gallon across states. Retailers and petroleum analysts cited elevated geopolitical risk premiums...