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Retail sales rise 1.1 percent in February
WASHINGTON — Americans stepped up spending on retail goods in February, evidence that a stronger job market is boosting the economy. Consumers bought more autos, clothes and appliances. They also paid higher prices for gas. Retail sales increased 1.1 percent last month, the Commerce Department said Tuesday. It was the biggest gain since September. The […]
What’s hot this year at the Consumer Electronics Show
Frank Gorman of Gorman & Williams is back in Las Vegas for the annual Consumer Electronics Show. And, just like last year, he’s graciously offered to write a few dispatches about his trip. The following is an overview of CES, which concludes Friday. Gorman co-wrote this with Mike Yang, counsel to Micro Focus and a […]
U.S. retail sales rises for sixth straight month
WASHINGTON — Americans spent more on autos, furniture and clothing at the start of the crucial holiday shopping season, boosting retail sales for a sixth straight month. Retail sales rose 0.2 percent in November, the Commerce Department said Tuesday. That’s lower than October’s gain, which was revised higher to show a 0.6 percent increase. Still, […]
Holiday season may be down for U.S. retailers
NEW YORK — It looks like retailers will have to work extra hard to keep this holiday season from turning into a bah humbug. A new forecast indicates that sales growth will likely not be as high as last year and that shoppers won’t be hitting the stores as much. Retail sales for the November […]
Best Buy 2nd quarter net income drops
MINNEAPOLIS — Best Buy Co. said Tuesday its fiscal second-quarter net income fell 30 percent as consumers hit the pause button on buying electronics, particularly TVs and smart phones, while fears about the global economy persist. Results missed expectations and the company lowered its full year earnings guidance as well. Shares fell more than 6 […]
Americans cut spending for first time in 20 months
WASHINGTON — Americans cut back on their spending in June for the first time in nearly two years and their incomes grew by the smallest amount in nine months, a troubling sign for an economy that is barely growing. Consumer spending dropped 0.2 percent in June, the Commerce Department said Tuesday. Some of the decline was […]
Weak dollar gives U.S. factories a lift
WASHINGTON — The nation’s manufacturing sector has expanded this year at the fastest pace in a quarter-century, boosted by a weak dollar that has made U.S. goods cheap overseas. Strong factory production could help the economy rebound after experiencing weak growth in the first three months of this year. But the construction industry is struggling […]
US factory output rises for 6th straight month
WASHINGTON — U.S. factories produced more cars, appliances, computers and furniture in February, lifting manufacturing output for the sixth straight month. The Federal Reserve says overall output at the nation’s factories, mines and utilities dipped 0.1 percent last month, the first decline since October. But that reflected a sharp drop in production at gas and […]
Energy-Star rated appliances tax-free for the weekend
If you’re planning to buy a major appliance in Maryland, this coming weekend will give you an incentive. The state is suspending its 6 percent sales tax on Energy Star-rated appliances from Friday through Sunday, and appliance stores are gearing up for an influx of customers, according to the Maryland Retailers Association. The tax holiday […]
Factory orders rise 0.7 percent in November
WASHINGTON — Businesses ordered more factory goods in November, responding to stronger consumer demand for household appliances, computers, and furniture. The Commerce Department says that total orders increased 0.7 percent in November. That follows a 0.7 percent drop in October. The overall figure was pulled down by a drop in volatile transportation orders. Excluding aircraft […]
