Calculated Risk: Personal Income increased 0.4% in April, Spending increased 1.0%

  The BEA released the Personal Income and Outlays report for April: Personal income increased $69.8 billion, or 0.4 percent …in April, according to the Bureau of Economic Analysis.Personal consumption expenditures (PCE) increased $119.2 billion, or 1.0 percent….Real PCE — PCE adjusted to remove price changes — increased 0.6 percent in April, in contrast to […]

Calculated Risk: Construction Spending decreased 1.8% in April

  Earlier today, the Census Bureau reported that overall construction spending decreased 1.8% in April compared to March:The U.S. Census Bureau of the Department of Commerce announced today that construction spending during April 2016 was estimated at a seasonally adjusted annual rate of $1,133.9 billion, 1.8 percent below the revised March estimate of $1,155.1 billion. […]

Time-wasting young people to blame for productivity crisis, says Texan business

    The rules come into effect this December, and mean that millions more workers will be entitled to overtime pay if they work more than a 40-hour week. The millennial-bashing survey respondent continued: The Department of Labor must realize that if we are supposed to pay them overtime for work they should do during […]

Brent crude tops $50 a barrel for first time since November

  HONG KONG International oil prices rose to their highest levels in six months on Thursday, as the recent decline in U.S. crude stocks raised expectations for a tightening in the market amid lower global supply. Brent LCON6, +0.68%, the international benchmark for oil, rose 30 cents to $50.04 a barrel in morning Asian trade, […]

Goldman downgrades stocks to ‘Neutral’

  REUTERS/Ralph OrlowskiGoldman Sachs doesn’t find stocks appealing anymore. In a note Tuesday, the firm downgraded equities to “Neutral” over the next year. “Until we see sustained earnings growth, equities do not look attractive, especially on a risk-adjusted basis,” wrote Christian Mueller-Glissmann, an equity strategist. “We expect particularly poor returns in dollar terms, with our […]