The long-sought changes to the National Flood Insurance Program are designed to shift the cost of owning properties in flood-prone areas onto homeowners and are part of an effort to encourage development away from coastal areas that have been battered by flooding-related disasters. … READ MORE >
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3 things to know in energy: Surging prices, Permian Basin shifts, Canada’s election
Examining the crunch caused by surging energy prices and decreased suppply, how shifting assets in the Permian Basin might affect the industry, and what the results of Canada’s federal election might mean for the energy policy. Here’s the latest. … READ MORE >
Initial jobless claims rose for third straight week as millions lost federal pandemic benefits
First-time jobless claims rose to 362,000 for the week ending Sept. 25 as enhanced federal unemployment benefits ended, according to government data released Thursday. … READ MORE >
Chart of the day: Pending home sales rose a surprising 8.1% in August
Pending sales of homes bounced back strongly in August with an 8.1% increase after two consecutive months of declines, according to data released Wednesday by the National Association of Realtors. … READ MORE >
Natural gas shortage and soaring prices threaten economic growth
Soaring gas, oil and coal prices point to an energy shortage across the globe, from the United States to Europe and China. The crunch has the potential to turn into a crisis if not managed, and has already caused industrial and residential power outages, threatened economic growth and jeopardized climate goals. … READ MORE >
RSM US Manufacturing Outlook Index: An expansion moderated by supply chain and labor constraints
Manufacturing conditions in September remain far above recession levels, suggesting a positive outlook for the economic expansion. … READ MORE >
Chart of the day: Goods trade deficit widened in August as delta variant weighed on exports
A rise in imports led to a higher U.S. trade deficit in goods in August, pointing to the impact of the delta variant on exports, while automobiles took center stage in dragging down both exports and imports. … READ MORE >
Consumer confidence declined again in September as delta variant dampened optimism
The headline Consumer Confidence Index fell to 109.3 in September—a seven-month low—from 115.2 in July in another sign that the delta variant is dampening consumer optimism and spending. … READ MORE >
Chart of the day: Durable goods orders surged by a surprising 1.8% in August
Helped by strong aircraft orders, durable goods orders in August rose by 1.8% on the month, easily beating analyst estimates of 0.7%, according to Commerce Department data released Monday. … READ MORE >
Modeling the shock to the economy from a debt-ceiling crisis
The inability of the political sector to reach an equitable compromise on lifting the U.S. debt ceiling will come into sharp focus over the next few days. The federal government will exhaust its funding on Thursday, but can temporarily remain in operation because of special measures taken by the Department … … READ MORE >