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The Latest Breaking News from the Commerce Department

US economic growth for last quarter is revised up slightly to a 1.4% annual rate

The American economy expanded at a 1.4% annual pace from January through March, the slowest quarterly growth since spring 2022, the government said in a slight upgrade from its previous estimate

The Independent UK

US New Home Sales Come In Below Expectations In May

Sales of new homes in the United States were weaker than traders expected last month, according to government data published Wednesday, as mortgage rates remained high.

International Business Times

US Slaps Sanctions On Leaders Of Russia Software Firm Kaspersky

The United States unveiled sanctions Friday against 12 top leaders of the Russia-based cybersecurity firm Kaspersky Lab, a day after banning the sale of its popular antivirus software on national security grounds.

International Business Times

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US Bans Russia's Kaspersky Antivirus Software

The United States on Thursday banned Russia-based cybersecurity firm Kaspersky from providing its popular antivirus products in the country on national security grounds, the US Commerce Department announced.

International Business Times

US Trade Gap Widens To Largest In 18 Months

The US trade deficit expanded slightly less than analysts expected in April, to the widest since late 2022, as imports rose more quickly than exports, according to government data released Thursday.

International Business Times

US government probes South Korean company accused of selling American tools to Chinese entities

Chinese entities keep getting advanced chipmaking tools made by American companies from South Korean companies.

Tom’s Hardware

US Fed's Favored Inflation Measure Remains Unchanged In April

The US Federal Reserve's favored measure of inflation remained unchanged in April, according to government data published Friday, as services prices remained elevated.

International Business Times

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US Economy Grows At Sluggish 1.3% Rate In Q1

Explore the impact of slow GDP growth, high inflation, and uncertain future projections on the U.S. economy in Q1 2022.

Top News

Commerce Department Implements Stricter Rules On U.S. Firearms Exports

Learn about the Commerce Department's new restrictions on U.S. firearms exports to prevent misuse and enhance national security.

The Independent UK

Commerce Department announces new restrictions on U.S. firearms exports

The Commerce Department is announcing new restrictions on U.S. firearms exports in an effort to prevent the guns from ending up in the hands of drug traffickers and criminals in other nations

International Business Times

US Fed's Favored Inflation Measure Accelerates, Dimming Rate Cut Hopes

The US central bank's favored measure of inflation accelerated last month, according to government data published Friday, pushing back the chances of an interest rate cut this summer.

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International Business Times

PCE Exceeds Expectations As Pesky Inflation Persists

Price pressures remained elevated in March, fresh data from the Commerce Department showed Friday, as the personal consumption expenditures (PCE) price index exceeded forecasts.

International Business Times

US Economic Growth Slows Significantly In First Quarter

The US economy cooled markedly in the first three months this year, expanding less than anticipated as consumer spending and exports decelerated, according to government data released on Thursday.

Roll Call

Micron gets combined $13.6 billion grant, loan for chip plants - Roll Call

Boise, Idaho-based Micron Technology will receive a $6.1 billion federal grant and $7.5 billion loan to build factories for memory chips.

Tom’s Hardware

US CHIPS and Science program puts R&D funding on hold — highlighting intense demand that far exceeded initial expectations

The U.S. Commerce Department halts CHIPS funding for R&D facilities.

Latin Times

US Trade Gap Grows In February To Highest Level Since April 2023

The overall trade gap grew to $68.9 billion, up $1.3 billion from a month earlier, the Commerce Department said in a statement.

Roll Call

US agency calls for audits of AI systems to ensure accountability - Roll Call

A Biden administration agency called Wednesday for audits of artificial intelligence systems that would hold tech companies accountable.

Latin Times

Sales Of New US Homes Edge Down Unexpectedly In February

New single-family home sales were at an annual rate of 662,000 last month, seasonally adjusted, 0.3 percent down from the revised 664,000 figure for January, said the Commerce Department.

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