ECONOMY

Most economists think the economy will slow further in the current quarter and slide into at least a mild recession by midyear. The economy got a boost last quarter from resilient consumer spending and the restocking of supplies by businesses. But with higher mortgage rates undercutting residential real estate, investment in housing plummeted at a 27% annual rate for a second straight quarter. The economy’s expected slowdown is an intended consequence of the Federal Reserve’s aggressive series of rate hikes. At least the economy is likely beginning the year on firmer footing than it did at the start of 2022.

The U.S. economy grew at an annual rate of 2.9% in the final three months of last year — a surprisingly strong finish. But growth is expected to slow in 2023, and possibly even reverse.

Walmart CEO John Furner announced Tuesday the corporation’s minimum wage for its U.S. workforce of nearly 1.7 million will increase this year.

Party City has filed for Chapter 11 bankruptcy protection after struggling with rising prices and a pullback in customer spending.

Florida gas prices recently decreased, but the drop is expected to be short-lived.

Some 73% of CEOs think global growth will decline in the next year, which is the most pessimistic outlook in 12 years, according to a new survey by PwC.

The National Park Service has announced that in 2023, there will be five days where admission to sites will be free to the public.

Meriwether Farms — among many other farms in Florida — has had a tough few years.

The economy grew by 0.1% in November, partly boosted by World Cup fans spending more in pubs and restaurants.

After more than 50 years, this Merritt Island Dairy Queen is set to close its doors for good this February.

Florida gas prices continue on its roller coaster ride and are dropping once again.

From Wall Street to Main Street, 2022 was a rough economic year for Americans.

As fans made their way from all over the country to cheer on their favorite team at the Citrus Bowl, the impact on the local economy could be felt by business owners in Orlando's downtown.

Fuel prices are on the rise once again, and in Florida, there’s been a sharp increase in just the last week.

Many stores offer to make jewelry from scratch based on your preference.

Whether it’s coming up with a wedding theme, colors, or just managing the guests while getting ready on the big day, there are advantages to having a planner/coordinator on hand.

As average gasoline prices have moved back above $3 a gallon in Florida, a tech company that monitors the fuel industry foresees prices above $4 a gallon in 2023.

Shrugging off rampant inflation and rising interest rates, the U.S. economy grew at an unexpectedly strong 3.2% annual pace from July through September, the government reported Thursday in a healthy upgrade from its earlier estimate of third-quarter growth.

Americans may have getting their finances in order as one of their resolutions, and financial experts say it’s one they should start working on now.

The move further restricts women's access to education, after they were excluded from secondary schools.

Rent prices in Orlando are on the decline, and Zillow experts say that's because people can't afford the bill.

Florida gas prices have fallen for five weeks straight.

People are prepared to wait longer for handmade items, says the chief of the e-commerce firm.

Important dates to know if you plan on sending packages to loved ones for holiday season.

The CEO of the private investment firm said during CNBC's Financial Advisor Summit on Tuesday that there's no question that the U.S. is headed for recession.

Here are three reasons to use transport for your pets, whether it’s dogs, cats, birds, reptiles, fish, or other types of animals.

Many pet daycare locations offer a chance for their dogs to be more active while they are away from home.

The biggest reason is that it’s becoming increasingly more difficult to rely on companies to provide a pension or 401K.

Retirement planning might not be on the minds of many young adults who are just trying to get careers or families started.

Second Harvest Food Bank of Central Florida said it has seen a double-digit percentage increase in the number of people searching for food banks in our area.

Gov. Ron DeSantis announced the launch of the Unite Florida Recovery Portal to connect Floridians impacted by Hurricane Ian to important recovery resources, including housing support.

The once red-hot housing market is starting to cool off.

Walt Disney World has picked a developer to construct and operate an affordable housing development for which the entertainment company is donating 80 acres of land.

Lake County voters will soon get to decide on whether to keep a school safety tax in place.

Central Florida has long labored under a shortage of affordable housing and the area's most populous county, Orange, has seen some of the worst effects of that shortage.

For the fourth year in a row, Covenant Roofing and Construction is conducting a November food pantry drive to benefit local food banks.

With the amount continuing to climb, estimated insured losses from Hurricane Ian neared $8.44 billion, according to data posted on the Florida Office of Insurance Regulation website.

September 2022 TDT collections show 48.6% increase over 2021.

Percentage change of food at home outpaced food away from home in ‘21, CPI data shows

Airbnb is reporting a $1.2 billion profit for the third quarter but giving a cautious outlook for the fourth quarter.

How backlogged are window companies? When should you file an insurance claim?

Shares of Uber are surging after the company said there is little evidence that Americans are pulling back on hailing rides or ordering food deliveries despite soaring inflation.

Florida drivers will notice a higher price at the gas pump as the state’s tax holiday ended.

Florida gas prices are set to increase 25 cents per gallon.

In March, the U.S. Senate passed what is known as the Sunshine Protection Act, which would end the twice-a-year ritual of changing clocks by making one set time permanent after the nation springs forward again in March 2023.

Will there be relief forthcoming for homeowners when it comes to PITI payments?

JetBlue completed a move-in to become the anchor tenant at Orlando International Airport's new Terminal C.

The days of sharing a Netflix account at no additional cost are coming to an end.

Lake County voters will soon get to decide on whether to keep a school safety tax in place.

Central Florida has long labored under a shortage of affordable housing and the area's most populous county, Orange, has seen some of the worst effects of that shortage.

Tesla has reported that its third-quarter profit more than doubled from a year ago, fueled by higher vehicle sales.

United Airlines has reported a $942 million profit for the third quarter after a strong summer travel season.

The housing market was red-hot earlier this year, though it's begun to cool down as interest rates skyrocket.

Stephen Moore joined 'The Faulkner Focus' Monday to weigh in on Transportation Secretary Pete Buttigieg defending the Biden economic policies.

Florida gas prices continue to climb, increasing by 7 cents per gallon since last week when OPEC announced it would cut oil production.

H-2A visas are designated for people to come to the U.S. and temporarily work in agriculture.

Got milk? If you need to buy some in the future, the question instead will be, Got money?

Liz Truss reverses her plan to scrap a business tax rise but vows to deliver economic growth.

New government data shows economic growth shrank at a 0.6% annual rate in the second quarter — less than initially thought.

In a new article, The Washington Post breaks down how the U.S. knew Russia would invade Ukraine, and began to prepare the country to go to war. Washington Post national security reporter Karen DeYoung joins CBS News to discuss.

The unemployment rate dipped to 3.5%, tying a 50-year low reached just before the coronavirus pandemic slammed the U.S. economy in early 2020.

The Las Vegas Valley saw widespread flooding after severe thunderstorms, leaving multiple casinos on the Las Vegas Strip with water damage.

Financial Markets FILE - Pedestrians walk past the New York Stock Exchange, July 8, 2022, in New York. Stocks are opening slightly higher on Wall Street Thursday, July 28, 2022 following news the U.S. economy shrank for a second consecutive quarter. The U.S. economy shrank from April through June, contracting at a 0.9% annual pace. Consecutive quarters of falling GDP constitute an informal, though not definitive, indicator of a recession. The Federal Reserve is trying to slow the U.S. economy to fight inflation without tipping it into a recession.

There are still mounting concerns about the U.S. economy's resilience. Inflation is at 40-year highs, home sales are weakening and even the-red hot labor market is beginning to show cracks.

Federal Reserve Chairman Jerome Powell said on Wednesday he does not believe the U.S. economy is in a recession as the central bank raised rates further to fight inflation. "This is a very strong labor market....it doesn't make sense that the economy would be in a recession with this kind of thing happening." Investors are fearing the Fed's hiking campaign may tip the economy into a recession. The gross domestic product reading for the second quarter is due on Thursday with economists expecting the economy to have barely expanded following a 1.6% contraction in the first quarter. Many on Wall Street refer to two consecutive negative quarters as a recession, but the official definition takes into account more factors than just GDP.

"Rebooting" the UK's "brittle" economy would be Labour's main focus, its leader will say.

June's big payroll jump helped clear away some of those recession clouds for a U.S. economy that nonetheless faces some stormy weather ahead.

For nearly two years, the U.S. economy has notched blockbuster gains, with millions of new jobs and wage hikes adding to the streak of good news. But now economists are bracing for a cool-down.

The economy contracted by 0.3% in April after it shrank by 0.1% in March, official figures show.

The global economy may be headed for years of weak growth and rising prices, a toxic combination that will test the stability of dozens of countries still struggling to rebound from the pandemic, the World Bank warned.

During an uncertain period for the U.S. economy, The Washington Post is producing a series of animated guides examining several important trends, including persistent inflation and soaring gas prices.

Alan Blinder, former Federal Reserve vice chair, thinks that it's likely the U.S. will fall into a recession next year.

Sterling hit a two-year low versus the U.S. dollar following the GDP data as traders digested growing uncertainty about the U.K.'s economic outlook.

An EU ban on oil and gas from Russia would limit its ability to fight in Ukraine, Sergeii Marchenko says.

China on Monday posted better-than-expected GDP growth in the first quarter, though retail sales for March slumped amid ongoing Covid lockdowns on the mainland.

Though the economy may be the focus of November’s congressional elections, other divisive topics -- some new, some perennial -- will also vie for attention from voters. These so-called wedge issues are being fanned mostly by Republicans, who see little downside in taking on polarizing issues that might motivate conservative voters. The Supreme Court, with six of its nine seats filled by conservative justices appointed by Republicans, seems poised to stir things up even further with upcoming deci

Biden Economy FILE - President Joe Biden speaks at the North America's Building Trades Unions (NABTU) Legislative Conference at the Washington Hilton in Washington, April 6, 2022. The Biden White House is betting the U.S. economy is strong enough to withstand these threats, but there are growing fears of a coming economic slump among voters and some Wall Street analysts. The Biden White House is betting the U.S. economy is strong enough to withstand these threats, but there are growing fears of a coming economic slump among voters and some Wall Street analysts. One consequence of higher prices is that Americans began to use less oil and gas. But the key message that the White House wants to deliver in response to public fears about the economy is that Biden understands their concerns.

Biden Economy FILE - President Joe Biden speaks at the North America's Building Trades Unions (NABTU) Legislative Conference at the Washington Hilton in Washington, April 6, 2022. The Biden White House is betting the U.S. economy is strong enough to withstand these threats, but there are growing fears of a coming economic slump among voters and some Wall Street analysts. The Biden White House is betting the U.S. economy is strong enough to withstand these threats, but there are growing fears of a coming economic slump among voters and some Wall Street analysts. One consequence of higher prices is that Americans began to use less oil and gas. But the key message that the White House wants to deliver in response to public fears about the economy is that Biden understands their concerns.

Biden Economy FILE - President Joe Biden speaks at the North America's Building Trades Unions (NABTU) Legislative Conference at the Washington Hilton in Washington, April 6, 2022. The Biden White House is betting the U.S. economy is strong enough to withstand these threats, but there are growing fears of a coming economic slump among voters and some Wall Street analysts. The Biden White House is betting the U.S. economy is strong enough to withstand these threats, but there are growing fears of a coming economic slump among voters and some Wall Street analysts. One consequence of higher prices is that Americans began to use less oil and gas. But the key message that the White House wants to deliver in response to public fears about the economy is that Biden understands their concerns.

Some futurists depict Michigan and the Great Lakes as “climate havens” that will lure people and businesses weary of worsening drought, wildfire, hurricanes and other disasters. Not so fast, skeptics say.

Elizabeth Economy looks closely at Xi Jinping's push to make China the center of the world.

Economic activity jumped by 6.9% in the last three months of last year, beating forecasts.

Germany Economy Containers are handled at a logistic port in Duisburg, Germany, Tuesday, Jan. 25, 2022. Europe's biggest economy, has picked up unexpectedly after a six-month slide, a closely watched survey showed Tuesday. (AP Photo/Martin Meissner) (Martin Meissner)BERLIN — (AP) — The German government on Wednesday cut its growth forecast for this year, but said that Europe's biggest economy remains “robust” and will return to its pre-pandemic size in 2022. The Economy Ministry predicted that gross domestic product will grow by 3.6%, down from the 4.1% Germany's previous government forecast in late October. On Tuesday, a closely watched survey showed business confidence unexpectedly picking up in January after a six-month slide.

The German economy grew by 2.7% in 2021, despite another year of surging Covid-19 cases, pandemic-related restrictions and supply chain pressures.

WASHINGTON — (AP) — The U.S. last month posted its smallest monthly budget deficit in two years thanks to a rebounding economy that helped boost tax receipts, coupled with slower spending as some COVID relief programs ended. The Treasury Department reported Wednesday that the December deficit of $21.3 billion was the smallest monthly deficit since a $13 billion shortfall in December 2019. In the October-December period, government revenues were up 30.1% compared to the same period a year ago. Government spending during that period rose by a much smaller 3.8% compared to the same period a year ago to $1.43 trillion. The December deficit of $21.3 billion compared to a deficit in December 2020 of $143.6 billion.

Prices rose 6.8% in the year to November with the cost of fuel, used cars and food rising fastest.

LONDON — (AP) — The British economy slowed down during the third quarter of the year as widespread supply chain problems hobbled the recovery from the coronavirus pandemic, official figures showed Thursday. The increase was slightly below market expectations and lower than the second quarter's 5.5% boost. The third-quarter result means the British economy remains 2.1% below where it was before the pandemic struck in March 2020. Over the summer, Britain witnessed an array of supply chain problems tied to disruptions caused by the pandemic and Britain’s departure from the European Union. That was evident in the recent long lines seen at gas stations amid a shortage of truck drivers.

A large Russian island north of Japan will be a testing ground for Moscow’s efforts to reconcile its prized fossil fuel industry with the need to do something about climate change

October's job creation was strong in almost every sector, as hiring across industries helped the broader U.S. economy rebound from a late-summer lull.

Can free flights and rent lure the foreign workers back to Australia who quit when Covid arrived?

Yes, growth was weaker than forecast in the third quarter, but the latest GDP report also shows that the softness is temporary.

Virus Outbreak Japan FILE - In this Sept. 11, 2019, file photo, newly appointed Economy and Fiscal Policy Minister Yasutoshi Nishimura speaks during a press conference at the prime minister's official residence in Tokyo. (AP Photo/Eugene Hoshiko, File) (Eugene Hoshiko)TOKYO — (AP) — Japan’s government says more than 50% of the population has been fully vaccinated. The government is studying a roadmap for easing restrictions around November when a large majority of the population is expected to be fully vaccinated. That would allow fully vaccinated people and those who test negative to travel, gather for parties or attend mass events. Japan last Friday extended the ongoing state of emergency in Tokyo and 18 other areas until Sept. 30.

The Taliban's hold over the country is not in dispute but it is facing challenges from women against its extreme version of sharia law and guerrilla fighters in Afghanistan's north.

Federal Reserve Chairman Jerome Powell said Tuesday that the U.S. economy has been permanently changed by the COVID pandemic and it is important that the central bank adapt to those changes. “We're not simply going back to the economy that we had before the pandemic,” Powell said at a Fed virtual town hall for educators and students. Powell said that, while it is not yet clear if the delta variant of COVID will have further impact on the economy, the country has already seen significant changes since the pandemic began shutting the country down in March 2020.

Americans spent more last month on clothing, electronics and dining out as the economy opened up and there were fewer pandemic-related restrictions. U.S. retail sales rose a seasonal adjusted 0.6% in June from the month before, the U.S. Commerce Department said Friday. The increase was a surprise to Wall Street analysts, who had expected sales to fall slightly last month. Sales at bars and restaurants rose 2.3%, according to Friday's report. Clothing store sales rose by 2.6%, and sales at electronic shops were up 3.3%.

LONDON — (AP) — Official figures show that the British economy rebounded further in May following another easing of lockdown restrictions, though the increase was about half that expected by economists. The Office for National Statistics said Friday that the economy grew by 0.8% during May. Though the British economy has now grown for four months in a row, May's increase was lower than April's 2.3% and below market expectations for a 1.5% rise. Despite the run of growth, the British economy remains 3.1% smaller than it was in February 2020, the month before the government first put lockdown measures in place to try to contain the coronavirus. This material may not be published, broadcast, rewritten or redistributed without permission.

Britain Economy FILE - In this Monday, April 12, 2021 file photo, people sit, drinking and eating, outside cafes and pubs in Soho, central London, on the day some of England's coronavirus lockdown restrictions were eased by the British government. The easing of lockdown restrictions in April helped the British economy grow at its fastest rate since July 2020 and recoup further ground lost during the coronavirus pandemic, official figures showed Friday June 11, 2021. The four nations of the U.K. — England, Scotland, Wales and Northern Ireland — have been lifting lockdown restrictions in stages after new coronavirus infections fell sharply and vaccines were rolled out rapidly. Despite the growth recorded in April, the British economy remained 3.7% smaller than it was in February 2020, before the U.K.'s first virus lockdown. The British economy is expected to regain more ground over the summer as remaining restrictions are lifted.

Federal Reserve Beige Book FILE - In this Dec. 1, 2020 file photo, Chairman of the Federal Reserve Jerome Powell appears before the Senate Banking Committee on Capitol Hill in Washington. The Federal Reserve reports that the U.S. economy grew at a somewhat faster pace from early April to late May despite adverse effects from supply chain disruptions. The Fed’s latest survey of economic conditions around the nation released Wednesday, June 2 2021, said that several Fed districts reported positive effects on the economy from increased vaccination rates and relaxed social distancing measures. (AP Photo/Susan Walsh, Pool, File) (Susan Walsh)WASHINGTON — (AP) — The U.S. economy grew at a somewhat faster pace in April and May despite disruptions that choked supplies to the nations manufacturers, the Federal Reserve reported Wednesday. In the Fed's latest survey of economic conditions around the nation, several of the central bank's districts reported increased vaccination rates and relaxed social-distancing measures were having a positive impact on the economy.

The Office for National Statistics also said Wednesday May 12, 2021, that the economy even managed to grow by 2.1% in March when the country began easing some restrictions. The overall first quarter figures provide further evidence that businesses and consumers have adapted to the constraints of lockdown by increasing their online activities. In the second quarter of 2020, when the first lockdown was in place, the British economy contracted by a fifth. Treasury chief Rishi Sunak said the March performance is “a promising sign of things to come.”Despite the March bounceback, the British economy remins 8.7% smaller than it was on the eve of the pandemic. The Bank of England even thinks that the British economy will have recouped all its COVID-related losses by the end of this year.