California has suffered a series of economic blows this year, from torrential rains that inundated farmland to the failure of three regional banks. Now the state s $2.8 trillion freight industry is under threat.
By Ana Monteiro (Bloomberg) — The pandemic-era surge in shipping costs was a “smoking gun” that foretold the global inflation spike, and the sharp drop in maritime-freight expenses since peaking last.
Data out Thursday reinforced the strength of the labor market, with hiring at U.S. companies far exceeding expectations and applications for jobless benefits falling to a three-month low.
U.S. auto sales likely rose in December and will rebound in the new year as a recovery in vehicle production will more than offset the effects of inflation and rising interest rates, industry leadership says.