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U.S. consumer confidence jumped to a 14-month high in April as increased vaccinations against COVID-19 and additional fiscal stimulus allowed for more services businesses to reopen, boosting demand and hiring by companies.
© Getty Images Prices charged by producers rose 4.2 percent over the past 12 months, the fastest increase since 2011, as the recovery from the coronavirus pandemic drives a surge in demand, according to data released Friday by the Bureau of Labor Statistics. The producer price index (PPI) rose at its fastest annual rate in a decade due largely to the massive and abrupt economic impact of the COVID-19 pandemic. Prices fell sharply about a year ago as the pandemic derailed the global economy but have risen from those lows as companies prepare for a return to normal activity. ADVERTISEMENT “...
© Getty Images The Institute for Supply Management's Manufacturing PMI, a central measure of the health of the manufacturing industry, rose to 60.8 percent in February, its highest level since the pandemic took hold last year. The index was 2.1 points higher than January, and represents the ninth consecutive month of growth after shrinking in March, April and May. Any reading over 50 percent indicates growth. ADVERTISEMENT “The manufacturing economy continued its recovery in February," said Timothy R. Fiore, who chairs the ISM Manufacturing Business Survey Committee. But challenges remain...
Ohio's economy lost 11,500 jobs in December as rising coronavirus cases continue to hurt the state.
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