Inflation slowed further in December as an economic ‘soft landing’ moves into sharper focus

January 27, 2024

WASHINGTON (AP) — The Federal Reserve’s preferred inflation gauge cooled further last month even as the economy kept growing briskly, a trend sure to be welcomed at the White House as President Joe Biden seeks re-election in a race that could pivot on his economic stewardship. Friday’s government report showed that prices rose just 0.2% from November to December, a pace consistent with pre-pandemic levels and barely above the Fed's 2% annual target. Measured from a year earlier, prices increased 2.6%. Excluding volatile food and energy costs, so-called “core” prices rose ...

Best Line Equipment partners with Astec Industries

January 20, 2024

STATE COLLEGE — Best Line Equipment recently announced a strategic partnership with Astec Industries. The agreement grants Best Line Equipment distribution rights for Astec road construction equipment throughout Pennsylvania, New Jersey and Maryland. This collaboration represents a significant step for Best Line Equipment in expanding its offerings and capabilities in the asphalt paving equipment sector. “Best Line has been in the business of serving highway contractors for quite some time. Several years ago, Best Line acquired Field Tec Services, bringing multiple years of ...

2023 was slowest year for US home sales in nearly 30 years

January 20, 2024

LOS ANGELES — Sales of previously occupied U.S. homes sank in 2023 to a nearly 30-year low as mortgage rates climbed to the highest level in more than two decades and prices hit record highs, pushing homeownership out of reach for many Americans. The National Association of Realtors ...

US employers add a surprisingly strong 216,000 jobs in a sign of continued economic strength

January 6, 2024

WASHINGTON — The nation’s employers added a robust 216,000 jobs last month, the latest sign that the American labor market remains resilient even in the face of sharply higher interest rates. Friday’s report from the government showed that December’s job gain exceeded the 173,000 ...

Helpful Tips: Entrepreneur’s ‘Must Read’

December 16, 2023

Editor’s Note: The Lock Haven Express commissioned exclusive, feature articles relating to Start-Up and Small Business operations. Intended to provide entrepreneurs with a “treasure map” through the murky waters of business, the columnist offers strategies to generate profits, avoid ...

Congressional Budget Office projects lower inflation, higher unemployment into 2025

December 16, 2023

WASHINGTON (AP) — The Congressional Budget Office said Friday it expects inflation to nearly hit the Federal Reserve’s 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years. The office’s Current View of the Economy from 2023 to 2025 report estimates that the unemployment rate will hit 4.4% in the fourth quarter of 2024 and remain close to that level through 2025. Currently, the unemployment rate is 3.7%, according to the latest Bureau of Labor Statistics ...