Commerce Department

U.S. GDP fell at 5.0% rate in first quarter, but worse is expected to come

By Martin Crutsinger, Associated Press

The U.S. economy shrank at a 5.0% rate in the first quarter with a much worse decline expected in the current three-month economic period because of the coronavirus pandemic.

U.S. imposes new restrictions on Chinese tech giant Huawei

By Associated Press

In an effort to cut off Huawei’s undermining of existing U.S. sanctions, the U.S. government is imposing new resctrictions on the Chinese tech giant by limiting its ability to use American technology to build its semiconductors.

U.S. trade deficit falls to lowest level in 5 months

By Martin Crutsinger, Associated Press

The Commerce Department said Tuesday that the September gap between what America buys from abroad and what it sells shrank by 4.7% to $52.5 billion.

U.S. retail sales dip 0.3 percent in September

By Martin Crutsinger, Associated Press

Retail sales dropped in September by the largest amount in seven months, possibly signaling that rising trade tensions and turbulent markets are having an impact on consumer spending.

2nd quarter GDP growth revised down slightly to 2 percent

By Martin Crutsinger, Associated Press

The new estimate was lower than the government's initial estimate a month ago of 2.1% annual growth.

U.S. economy’s growth slows to 2.1 percent in 2nd quarter

By Martin Crutsinger, Associated Press

The nation's gross domestic product grew at a 2.1% annual rate last quarter, down from a 3.1% gain in the first quarter, the Commerce Department estimates.

Barr says he sees a legal pathway for citizenship question

By Michael Balsamo, Associated Press

In an interview with The Associated Press, Attorney General William Barr said the Trump administration will take action in the coming days that he believes will allow the government to ask the controversial question.

Tariffs will send U.S. tomato prices soaring, Mexico says

By Associated Press

U.S. consumers could pay 38 percent to 70 percent more for tomatoes after the U.S. Commerce Department announced it would re-impose anti-dumping duties on Mexican imports, according to Mexico's Economy Department.

U.S. home construction slips 0.3% in March

By Josh Boak, Associated Press

Years of price gains eclipsing income growth has left many buyers unable to afford a home, possibly suppressing construction activity.

WATCH: Commerce chief Wilbur Ross asks why furloughed workers are using food banks

By Jonathan Lemire, Associated Press

Commerce Secretary Wilbur Ross, one of the richest people in President Donald Trump's Cabinet, questioned Thursday why furloughed federal workers were using food banks instead of taking out loans to get through the monthlong partial government shutdown.