Economy
Follow the latest Economy news, videos, and analysis from ABC News.
June 12, 2025 at 7:24 PM

JetZero plans to build $4.7B plant in North Carolina, aims to create 14,500 jobs

A California-based company plans to build its first manufacturing plant for a next-generation passenger jet in central North Carolina
June 12, 2025 at 7:24 PM
FILE - North Carolina Democratic Gov. Josh Stein speaks to reporters after a Council of State meeting at the state Department of Transportation building in Raleigh, N.C., Tuesday, Feb. 4, 2025 (AP Photo/Gary D. Robertson,File)
June 12, 2025 at 2:35 PM

China appears to downplay US trade deal Trump said was 'done'

A spokesperson for China's Ministry of Commerce on Thursday appeared to downplay what President Donald Trump said Wednesday was a "done" trade deal.
June 12, 2025 at 2:35 PM
Chinese made cars and containers are seen before being loaded onto ships at the port in Shanghai, China, on June 11, 2025.
June 12, 2025 at 1:03 PM

US producer prices rise modest 2.6% in May with inflationary pressures still mild

U.S. wholesale prices rose modestly last month from a year earlier, another sign that inflationary pressures remain mild
June 12, 2025 at 1:03 PM
FILE - A shopper passes by the display of cartons of eggs in a Walmart store Friday, Feb. 7, 2025, in Englewood, Colo. (AP Photo/David Zalubowski, File)
June 11, 2025 at 2:51 PM

Trump says China trade deal 'done,’ and subject to 'final approval'

ABC News’ Britt Clennett reports on what both sides are getting from this agreement, and what happens next.
June 11, 2025 at 2:51 PM
VIDEO: Trump says China trade deal 'done,’ and subject to 'final approval'
June 11, 2025 at 2:48 PM

US and China agree to framework of trade deal

United States and Chinese officials say they have reached a tentative agreement to implement a deal the countries struck a month ago in Geneva that pauses most tariffs for 90 days.
June 11, 2025 at 2:48 PM
VIDEO: US and China agree to framework of trade deal
June 11, 2025 at 2:39 PM

Inflation ticked slightly higher in May amid Trump tariffs

The economy has defied warnings from economists and retailers of tariff-induced price hikes.
June 11, 2025 at 2:39 PM
People shop at a grocery store in Brooklyn on May 13, 2025 in New York City.
June 11, 2025 at 2:12 PM

Inflation ticked slightly higher in May amid Trump tariffs

The U.S. Consumer Price Index released on Wednesday showed May inflation ticking slightly higher, rising 2.4%, in line with expectations. ABC News’ Alexis Christoforous reports.
June 11, 2025 at 2:12 PM
VIDEO: Inflation ticked slightly higher in May amid Trump tariffs
June 9, 2025 at 3:58 AM

China's exports climb 4.8% in May, below forecasts, as shipments to the US drop

China's exports climb 4.8% in May, below forecasts, as shipments to the US drop nearly 10% from a year earlier
June 9, 2025 at 3:58 AM
June 8, 2025 at 2:27 AM

Economy steady amid global tariff war

Despite a dip in May's jobs report, Americans seem to show resiliency as an ongoing tariff war shakes stocks for Tesla and Lululemon. ABC News' Phil Lipof has the latest numbers.
June 8, 2025 at 2:27 AM
Economy steady amid global tariff war
June 6, 2025 at 2:46 PM

Hiring slowed in May as Trump's tariffs fluctuated

The job market has proven resilient as firms warn of uncertainty tied to tariffs. ABC News’ Alexis Christoforous reports.
June 6, 2025 at 2:46 PM
VIDEO: Hiring slowed in May as Trump's tariffs fluctuated
June 6, 2025 at 2:37 PM

Hiring slowed in May as Trump's tariffs fluctuated

The job market has proven resilient as firms warn of uncertainty tied to tariffs.
June 6, 2025 at 2:37 PM
A worker climbs at the construction site of the new legislative building for the Georgia General Assembly in Atlanta, on June 4, 2025.
June 5, 2025 at 7:31 PM

US trade deficit narrowed significantly amid Trump's tariff escalation

The U.S. trade deficit narrowed significantly in April as President Donald Trump sharply escalated tariffs before pausing a large swath of the levies, U.S. Commerce Department data on Thursday showed.
June 5, 2025 at 7:31 PM
VIDEO: US trade deficit narrowed significantly amid Trump's tariff escalation
June 5, 2025 at 3:41 PM

Unemployment filings are highest in 8 months

More than 240,000 people filed for unemployment last week, according to the Bureau of Labor Statistics. ABC News’ Alexis Christoforous reports.
June 5, 2025 at 3:41 PM
VIDEO: Unemployment filings are highest in 8 months
June 5, 2025 at 3:10 PM

Beef prices could spike this summer

Prices are expected to climb due to a lack of supply after the U.S. stopped cattle imports from Mexico last month due to a parasite affecting cattle in the country.
June 5, 2025 at 3:10 PM
VIDEO: Beef prices could hike this summer
June 5, 2025 at 12:06 PM

Procter & Gamble to cut up to 7,000 jobs under tariff, consumer uncertainty pressure

Procter & Gamble will cut up to 7,000 jobs, or approximately 6% of its global workforce, over the next two years as the maker of Tide detergent and Pampers diapers wrestles with tariff-related costs and customers who have grown anxious about the economy
June 5, 2025 at 12:06 PM
FILE - Proctor & Gamble headquarters complex is seen in downtown Cincinnati, Thursday, July 9, 2015. (AP Photo/John Minchillo, File)
June 4, 2025 at 7:10 PM

CBO says tariffs will shrink the economy and add to inflation but reduce the deficit

Nonpartisan Congressional Budget Office estimates that Trump’s tariffs would shrink the economy and add to inflation while reducing the federal deficit by $2.8 trillion.
June 4, 2025 at 7:10 PM
Trucks transporting containers line up at the Port of Ningbo-Zhoushan in Ningbo, China, May 28, 2025.
June 3, 2025 at 3:28 PM

US economic outlook slashed by OECD as Trump's tariffs upend global growth

"Global economic prospects are weakening," the OECD said.
June 3, 2025 at 3:28 PM
People shop at a store, April 30, 2025, in New York.
June 2, 2025 at 6:35 PM

Trump doubled steel and aluminum tariffs. Here's what it means for prices.

Big-ticket items and grocery staples could see price increases, experts say.
June 2, 2025 at 6:35 PM
Miami Beach, Florida, Publix grocery store, Coca Cola, Sprite, soda bottles and 12 packs on shelf.
June 2, 2025 at 9:59 AM

Global shares slide as Russia-Ukraine conflict, OPEC+ output plan push prices higher

Global shares have fallen and oil prices jumped as trade tensions and the Russian-Ukraine conflict ratcheted up geopolitical uncertainty
June 2, 2025 at 9:59 AM
A dealer walks past screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at a dealing room of Hana Bank in Seoul, South Korea, Monday, June 2, 2025. (AP Photo/Lee Jin-man)
June 1, 2025 at 10:50 PM

New data shows a record-high number of home sellers

A new report from real estate platform Redfin shows there are more people looking to sell their home than there are buyers on the market.
June 1, 2025 at 10:50 PM
VIDEO: New data shows a record-high number of home sellers
May 30, 2025 at 12:53 PM

US inflation gauge cools with little sign of tariff impact, so far

A key U.S. inflation gauge slowed last month as President Donald Trump’s tariffs have yet to noticeably push up prices, while American incomes jumped
May 30, 2025 at 12:53 PM
A shopper surveys goods on display in a Costco warehouse Wednesday, May 21, 2025, in Lone Tree, Colo. (AP Photo/David Zalubowski)
May 29, 2025 at 3:34 PM

US economy contracts 0.2% amid Trump tariffs

ABC News’ Alexis Christoforous reports on lates economic numbers as President Donald Trump’s tariffs continue to play out.
May 29, 2025 at 3:34 PM
VIDEO: US economy contracts 0.2% amid Trump tariffs
May 29, 2025 at 2:12 PM

Hit by Trump trade wars, US economy falls 0.2% in first quarter

The U.S. economy shrank at a 0.2% annual pace from January through March, the first drop in three years, as President Donald Trump’s trade wars disrupted business, the government said Thursday in a slight upgrade of its initial estimate
May 29, 2025 at 2:12 PM
FILE - People pack their supplies into their vehicles at Costco Wholesale store in Burbank, Calif., on Thursday, April 10, 2025. (AP Photo/Damian Dovarganes, File)
May 29, 2025 at 12:59 PM

More Americans file for jobless aid but layoffs remain low

Filings for U.S. jobless aid jumped last week but American workers broadly remain secure in their jobs despite economic uncertainty over global trade
May 29, 2025 at 12:59 PM
FILE - A hiring sign is displayed at a retail store in Chicago on Monday, March 11, 2024. (AP Photo/Nam Y. Huh, File)
May 29, 2025 at 12:53 PM

In second estimate, US says economy contracted 0.2% in first quarter amid trade war

In second estimate, US says economy contracted 0.2% in first quarter amid Trump trade war tumult
May 29, 2025 at 12:53 PM
May 28, 2025 at 1:44 PM

What is a stablecoin and what could it mean for your finances?

The crypto tokens could change everyday payments. But they pose risks.
May 28, 2025 at 1:44 PM
In this Jan. 21, 2025, file photo, the Circle logo is displayed on a smartphone with Bitcoin logo in the background.
May 27, 2025 at 4:27 PM

How to save money on groceries amid rising costs

A savings expert shares tips to help a family of six lower their monthly grocery bill by hundreds of dollars.
May 27, 2025 at 4:27 PM
VIDEO: How to save money on groceries amid rising costs
May 27, 2025 at 2:55 PM

Sneakerheads face new reality with price hike

Rapper, actor and sneaker connoisseur Jacques Slade discusses Nike’s decision to increase the price of some of its sneakers.
May 27, 2025 at 2:55 PM
VIDEO: Sneakerheads face new reality with price hike
May 27, 2025 at 2:26 PM

Consumer confidence brightens as Trump rolls back tariffs

The survey ends five consecutive months of dampening consumer confidence.
May 27, 2025 at 2:26 PM
People shop for shoes in a Nike store on Nov. 25, 2022, in New York.
May 25, 2025 at 1:43 AM

Retailers and customers brace for higher prices 

Retailers like Walmart and Nike make plans to raise prices in expectation of President Donald Trump’s new tariffs.  
May 25, 2025 at 1:43 AM
Retailers and customers brace for higher prices 
May 23, 2025 at 8:56 PM

Stocks close down as Trump threatens tariffs on Apple and European Union

The market dip erases some gains made in recent weeks as President Donald Trump rolled back levies.
May 23, 2025 at 8:56 PM
Traders work on the floor of the New York Stock Exchange (NYSE) on May 21, 2025 in New York City.
May 23, 2025 at 12:41 PM

Nike to raise prices, sell on Amazon

Nike is set to increase prices on a wide range of footwear, apparel for adults and equipment as soon as this week.
May 23, 2025 at 12:41 PM
VIDEO: Nike to raise prices, sell on Amazon
May 22, 2025 at 6:01 PM

House Majority Whip calls Moody's downgrade of US debt 'somewhat political'

House Majority Whip Tom Emmer (R-MN) joined ABC News Live with a reaction to the House passing President Donald Trump's spending bill.
May 22, 2025 at 6:01 PM
VIDEO: House Majority Whip calls Moody's downgrade of US debt 'somewhat political'
May 22, 2025 at 4:36 PM

Treasury to phase out penny after Trump says coin no longer makes 'cents'

The cost of making a penny has risen to more than twice the coin's face value.
May 22, 2025 at 4:36 PM
The cost of making a penny has risen to more than twice the coin's face value.
May 22, 2025 at 4:18 PM

Treasury to phase out penny after Trump says coin no longer makes 'cents'

The Treasury Department says it will phase out production of new pennies early next year.
May 22, 2025 at 4:18 PM
President Donald Trump attends the swearing in of Labor Secretary Eugene Scalia in the Oval Office at the White House Sept. 30, 2019 in Washington.
May 21, 2025 at 1:15 PM

Target CEO says tariffs risk 'massive' costs, but price hikes a 'last resort'

Target reported a drop in sales in its most recent quarter.
May 21, 2025 at 1:15 PM
A shopper wheels a cart through the parking lot after making a purchase at the Target store, Feb. 27, 2023, in Salem, N.H.
May 21, 2025 at 12:59 PM

Target reports dip in sales amid tariffs, diversity backlash

The retail giant saw sales fall in the first quarter of 2025 amid uncertainty over tariffs and backlash for ending corporate diversity initiatives.
May 21, 2025 at 12:59 PM
VIDEO: Target reports dip in sales amid tariffs, backlash
May 19, 2025 at 8:33 PM

What does the Moody's rating downgrade mean for the economy?

The credit downgrade spiked Treasury yields, risking higher interest rates.
May 19, 2025 at 8:33 PM
People shop at a grocery store in Brooklyn on May 13, 2025 in New York City.
1 month ago

Consumer sentiment worsens despite Trump's rollback of tariffs, survey says

The survey marks four consecutive months of dampening consumer sentiment.
1 month ago
People shop at a grocery store in Brooklyn on May 13, 2025 in New York City.
1 month ago

Grocery stores overcharging: Consumer Reports

With grocery prices at all-time highs, Consumer Reports is warning that some supermarkets across the country are overcharging customers for some products marked as being on sale.
1 month ago
With grocery prices at all-time highs, Consumer Reports is warning that some supermarkets across the country are overcharging customers for some products marked as being on sale.
1 month ago

US wholesale prices drop for 1st time in more than a year

ABC News’ Alexis Christoforous reports on data released from the federal government’s producer price index.
1 month ago
VIDEO: US wholesale prices drop for 1st time in more than a year
1 month ago

Walmart CEO says prices of food, toys and electronics will increase

Economists widely expect importers to pass along some of the tax to consumers.
1 month ago
Shoppers browse through televisions section at a Best Buy store, Nov. 29, 2024, in Burbank, Ill.
1 month ago

These prices are soaring, despite cooling inflation

Prices are rising rapidly for some everyday items like coffee and beef.
1 month ago
People shop at a grocery store in Brooklyn, May 13, 2025, in New York.
1 month ago

Costco, Mattress Firm offer buy now, pay later option for shoppers

Affirm CEO Max Levchin explains the interest rates and payment plans that consumers can expect from the payment network.
1 month ago
VIDEO: Costco, Mattress Firm offer buy now, pay later option for shoppers
1 month ago

Inflation eased after Trump's 'Liberation Day' tariffs, defying fears

Stephen Kates, a financial analyst at Bankrate, discusses the data from April’s Consumer Price Index report.
1 month ago
VIDEO: Inflation eased after Trump's 'Liberation Day' tariffs, defying fears
1 month ago

Recession warnings fade after Trump rolls back tariffs

A U.S.-China trade agreement allayed fears but uncertainty remains, analysts said.
1 month ago
The aerial photo taken on May 13, 2025, shows containers waiting to be transported at a port in Suzhou, in eastern China's Jiangsu province.
1 month ago

Inflation eased after Trump's 'Liberation Day' tariffs

Trump has rolled back tariffs since he announced the policy last month.
1 month ago
A person shops at a grocery store in Medford, Mass., April 22, 2025.
1 month ago

Are small businesses more vulnerable to tariffs? Experts weigh in

Importers face highest effective tariff rate in more than a century, the Yale Budget Lab found.
1 month ago
People in the entry way of the Big Fun toy store on May 9, 2025 in Columbus, Ohio.
1 month ago

Mortgage rates are falling. Is it a good time to buy a home?

Lower borrowing costs offer relief but economic uncertainty looms, experts say.
1 month ago
A home for sale sign in front of a new house.
1 month ago

Fed holds interest rates steady, defying pressure from Trump

President Donald Trump has called on the Fed to lower rates, despite its political independence.
1 month ago
VIDEO: Fed holds interest rates steady, defying pressure from Trump