We’re still in a slow recovery period and there are things to be concerned about if they materialize, such as issues in the Middle East and Federal government spending. So manufacturing is not out of the woods yet, but nevertheless, two solid months to start the second half is a good sign.
Americans are paying record prices for new cars and trucks, and they have only themselves to blame. The average sale price of a vehicle in the U.S. hit $31,252 last month, up almost $1,000 over the same time last year.
After a slow first half of 2013, expectations are for the U.S. economy to gradually return to moderate growth in the second half and through 2014, according to a new forecast. The MAPI Quarterly Economic Forecast predicts that inflation-adjusted gross domestic product (GDP) will expand 1.6 percent in 2013 and 2.8 percent in 2014, the former down from 1.8 percent and the latter showing no change from MAPI’s May 2013 report.
New numbers show August had the highest number of auto sales of any month since the Great Recession. Toyota, Ford, Nissan, Chrysler and General Motors all reported double-digit U.S. sales. Financial and economic analyst Mellody Hobson explains why sales are booming.
American businesses added 176,000 jobs in August, a private survey showed Thursday. That was fewer than in June and July but roughly in line with the monthly average for the year. The payroll company ADP said professional and business services firms added 50,000 jobs.
China's airlines are likely to triple the size of their fleets over the next two decades, driven by strong economic growth and rising tourism spending, Boeing Co. said Thursday. Boeing and European rival Airbus Industries are looking to China to drive sales as growth in demand cools elsewhere.
The 1935 Avions Voisin C25 Aerodyne was designed by an aviation designer and takes cues from airplanes of that era. The designer of the Voisin was originally an aviation designer and wanted to transfer aviation design to the automobile to create the best car he could. It recently sold at Pebble Beach for $1.925 million.
The Nissan Juke Nismo delivers only 9 HP more than the base Juke model, but with tighter suspension and steering it does make this small SUV just a touch more fun. Nismo is Nissan's performance brand, and in this case, does deliver just a bit more power.
Microsoft's $7 billion deal to buy Nokia's cellphone business has investors wondering if the software giant can finally stake a claim in the mobile phone industry. A source of national pride, Finland's Nokia Corp. had led the cellphone industry for more than a decade, reaching a peak of 40 percent market share in 2008.
Toyota, Ford, Nissan, Chrysler and General Motors all reported double-digit U.S. sales gains last month as strong sales of pickup trucks and small cars led the industry toward its best month in six years. Toyota posted the biggest gain, with sales up nearly 23 percent over August of last year.
Stocks initially rose after a new report signaled the country's manufacturers are getting stronger. A jump in orders helped Unites States factories expand in August at the fastest pace in more than two years.
The U.S. trade deficit widened in July from a four-year low in June. American consumers bought more foreign cars and other imported goods, while U.S. companies exported fewer long-lasting manufactured goods. The Commerce Department said Wednesday that the trade gap rose 13 percent to $39.1 billion.
Last week, Walmart Stores announced that they would be holding a summit on U.S. manufacturing, and there’s a fair amount of skepticism over the company’s motives, particularly considering its long history of sourcing a vast majority of products from overseas.
Driving in America has stalled, leading researchers to ask: Is the national love affair with the automobile over? After rising for decades, total vehicle use in the U.S. — the collective miles people drive — peaked in August 2007. It then dropped sharply during the Great Recession and has largely plateaued since.
A new report on New York's economy calls the last 10 years a "lost decade" for typical workers, with median wages dropping almost 7 percent for men and about 1 percent for women. The Fiscal Policy Institute said the recovery from the Great Recession shows more underemployment despite the state restoring overall jobs lost in the downturn.
The number of Americans seeking unemployment benefits remained near the lowest level in more than five years last week, a sign that companies are cutting few jobs. First-time applications for benefits fell 6,000 to a seasonally adjusted 331,000, the Labor Department said Thursday.
Walmart SVP Michelle Gloeckler explains her company's $50 billion effort to sell more American made goods over the next ten years. Even if Walmart is successful in getting key retailers and suppliers on board, experts say it won't rejuvenate the U.S. manufacturing industry. But the movement could help stem the tide of jobs flowing to China and elsewhere that has been occurring in the last two decades.
The new Mini Cooper Paceman is a two-door crossover SUV that features a turbo-charged engine, four-wheel drive, and a spacious interior. While it could be considered a "less practical, SUV," losing two doors completely changes the character of the vehicle, says CNN's Peter Valdes-Dapena.
A leading indicator shows a fresh spike in manufacturing activity, but with debt pressures lingering and the country on a slower growth track, economists remain cautious on China's outlook. China's manufacturing slowdown stabilized in August in another possible sign the world's second-largest economy is improving, a survey showed.
Toyota is raising the base price of its reworked Corolla compact car by 3.5 percent. Toyota is giving the Corolla a sportier look and more gadgets, a recognition by the world's biggest automaker that the under-50 crowd wants more than just reliability in a compact car.
India's largest carmaker Maruti Suzuki India Ltd. said Tuesday that the opening of its new plant in India's western state of Gujarat will be delayed due to the overall slowdown of the Indian economy and car market. The company's chairman, R.C. Bhargava, stated that the Indian unit of Japan's Suzuki Motor Corp. will "miss the target" of commissioning its Gujarat plant by March 31, 2016.
A central Pennsylvania plant that manufactures Harley-Davidson motorcycles got a visit from the great-grandson of one of the company's co-founders. To kick off the company's 110th anniversary, 52-year-old Bill Davidson revved up the latest ride Monday: a 2014 Street Glide Special.
Peugeot is hoping a total revamp of its midsized hatchback — a category that Volkswagen has long dominated — will help lead the struggling French company's turnaround. The company's chief executive, Maxime Picat, says that all the elements for a rebound are in place.
In a shabby back-alley office in Shibuya, a Tokyo district known for youth culture and tech ventures, defectors from corporate Japan are hard at work for a little known company they fervently believe will be the country's next big manufacturing success.
The ability to push a quaint narrative about a product's origins and fuel a sense of nostalgia can help drive billions of dollars in sales. That's invaluable at a time when food makers face greater competition from smaller players and cheaper supermarket store brands that appeal to cash-strapped Americans.