About half of Americans view the large U.S. trade deficit with other countries as an economic emergency, according to a poll released on Tuesday, a day before the Supreme Cour, opens new tab is due to consider the legality of sweeping tariffs imposed by President Donald Trump under a law meant for emergencies.
Sales of U.S. light vehicles fell in October as the expiration of federal government subsidies undercut demand for battery-powered electric cars, and an easing labor market and looming higher prices from tariffs could limit any rebound this year.
Oil prices fell on Wednesday amid a broader selloff in global financial markets that underscored concerns about economic and fuel demand growth, with a stronger U.S. dollar and reports of rising U.S. crude stockpiles adding to the worries.
Indonesia’s economy likely grew at a steady annual pace of 5.00% in the third quarter, supported by household spending and investment, while exports got a temporary boost from firms shipping goods ahead of U.S. tariffs, a Reuters poll showed.
China’s factory activity in October expanded at a slower pace as new orders and output both waned amid tariff anxiety, a private-sector survey showed on Monday.
The US consumer's durability as a prop for the economy may be tested in coming weeks as family budgets, particularly among the less affluent, are stressed by rising healthcare costs, the potential loss of federal food benefits, and a wobbly job market outlook that is already taking a toll on earnings.