{"id":11235,"date":"2023-12-05T09:13:06","date_gmt":"2023-12-04T22:13:06","guid":{"rendered":"https:\/\/accountswatch.com\/?p=11235"},"modified":"2023-12-07T11:38:11","modified_gmt":"2023-12-07T00:38:11","slug":"business-update-december-06-2023","status":"publish","type":"post","link":"https:\/\/accountswatch.com\/business-update-december-06-2023\/","title":{"rendered":"Business Update \u2013 December 06, 2023"},"content":{"rendered":"

Welcome to our Weekly Digest \u2013 stay in the know with some recent news updates relevant to business and the economy.<\/p>\n

US economy grows 5.2% in third quarter; higher interest rates eroding momentum<\/h2>\n

The U.S. economy grew faster than initially thought<\/a> in the third quarter as businesses built more warehouses and accumulated machinery equipment, but momentum appears to have since waned as higher borrowing costs curb hiring and spending.<\/p>\n

Jerome Powell says Fed \u2018won\u2019t hesitate\u2019 to raise interest rates again if warranted<\/h2>\n

Federal Reserve Chair\u00a0Jerome Powell\u00a0on Friday kept the possibility of another interest rate hike<\/a> in play this year, despite cooling inflation.<\/p>\n

The 20 best states to be a property owner<\/h2>\n

Becoming a property owner continues to be an attractive prospect for many, despite the current high interest rates, so it makes sense to know where your property tax burden is going to be the least. The article lists the 20 U.S. states with the lowest effective real estate tax rates<\/a>.<\/p>\n

Black Friday shoppers spent a record $9.8 billion in U.S. online sales, up 7.5% from last year<\/h2>\n

Black Friday\u00a0e-commerce spending popped 7.5% from a year earlier, reaching a record $9.8 billion in the U.S., according to an Adobe Analytics report<\/a>, a further indication that price-conscious consumers want to spend on the best deals and are hunting for those deals online.<\/p>\n

Auto industry eyes subscription fees as multi-billion-dollar revenue stream<\/h2>\n

Subscriptions are shifting into overdrive in the auto industry. Alistair Weaver, editor-in-chief at Edmunds, says automakers are counting on the new revenue stream<\/a> to pay for the expensive transition to electric cars.<\/p>\n

Biden administration plans to buy 2.7M oil barrels to refill emergency stockpile<\/h2>\n

The Biden administration plans to buy 2.7 million\u00a0barrels of oil<\/a>\u00a0to help replenish the nation\u2019s much-depleted emergency stockpile.<\/p>\n

The economy is flashing a worrying signal that hasn\u2019t been seen since right before the 2008 crisis<\/h2>\n

The US economy could be in worse shape than previously thought. That\u2019s evidenced by a worrying indicator, which hasn\u2019t flashed a warning this loud since right before the 2008 recession, according to Macquarie strategists<\/a>.<\/p>\n

Beige Book<\/h2>\n

The current Beige Book<\/a> has been published by the Federal Reserve, giving an<\/span> overview of economic conditions around the country<\/span>.<\/span><\/p>\n

E-commerce stocks rally after Black Friday shoppers spend record online<\/h2>\n

Shoppers turned out in full force on Thanksgiving and over the Black Friday weekend, largely shunning physical stores for the comfort of clicking \u201cbuy online\u201d from their couches<\/a>. Black Friday online spending\u00a0reached a record\u00a0$9.8 billion in the U.S<\/p>\n

Get in touch<\/h2>\n

Contact us if you have any questions or want to discuss the next steps for your business.<\/p>\n","protected":false},"excerpt":{"rendered":"

Welcome to our Weekly Digest \u2013 stay in the know with some recent news updates relevant to business and the economy. US economy grows 5.2% in third quarter; higher interest rates eroding momentum The U.S. economy grew faster than initially thought in the third quarter as businesses built more warehouses and accumulated machinery equipment, but … Continued<\/a><\/p>\n","protected":false},"author":12,"featured_media":10588,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[87],"tags":[],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"\nBusiness Update \u2013 December 06, 2023 - Accounts Watch<\/title>\n<meta name=\"description\" content=\"Welcome to our Weekly Digest \u2013 stay in the know with some recent news updates relevant to business and the economy. 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