Economic data out this week includes a pair of inflation measures. On Wednesday, the Bureau of Labor Statistics reports the Consumer Price Index for December. Excluding volatile food and energy components, it’s expected to have risen 1.6% year-over-year. The core Producer Price Index for December, out Friday, is predicted to have increased 1.3% from last year.
On Friday, the Census Bureau reports retail-sales data for December the all-important holiday shopping season. Retail sales excluding autos fell 0.9% in November, and they’re expected to have climbed 0.4% last month.
Other economic releases this week include the National Federation of Independent Business’ Small Business Optimism Index for December on Tuesday and the University of Michigan’s Consumer Sentiment Survey for January on Friday.
BEIJING, Jan. 10 (Xinhua) China central bank has removed the upper and lower limits on credit-card overdraft interest rates from Jan. 1 this year, Shanghai S
Church Celebrates Paying Off $2.5 Million Debt During Pandemic
10 Jan 2021
A Michigan church is celebrating being debt-free after paying off its more than $2 million mortgage in a short amount of time.
“Just 14 years ago, Galilee Baptist Church moved into a new building in Kalamazoo’s Northside neighborhood, and the senior pastor said it’s the community’s support that got them to where they are today: debt-free,” Fox 17 reported last week.
Neighbors are quite familiar with the house of worship that has served them for about 60 years.
“I believe that if we were not here, there would be a huge void being that we are located in this particular section of the Northside,” said Senior Pastor Dr. Michael T. Scott.
The Small Business Administration is reopening Paycheck Protection Program loans and Timberline Bank is ready to help.
Timberline, at 649 Market St., announced in a Friday news release that it is ready to process new PPP borrows and some existing borrowers beginning Monday.
With the program restarting, those who did not receive the loan in 2020 will be eligible for a PPP First Draw loan early this week, the release said. By the midpoint of the week, businesses who did receive a PPP loan can apply for a Second Draw loan.
âPPP First Draw has more flexibility for seasonal employees and businesses that may not have been qualified the first round,â Timberline said in the release. âThe Second Draw PPP loan program will be released mid-week for previous PPP recipients and businesses who may have seen a 25% reduced gross receipts between comparable quarters in 2019 and 2020.â