Business Update – April 10 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

U.S. remains world’s top destination for foreign direct investment for 12th consecutive year

The United States has been ranked as the top destination for foreign direct investment for the 12th consecutive year according to Kearney’s Global Business Policy Council’s 2024 Foreign Direct Investment (FDI) Confidence Index.

Small business owner confidence in the economy ticks up

The Q1 MetLife and U.S. Chamber of Commerce Small Business Index, which measures small business owner confidence, is 62.3—similar to last quarter’s score of 61.3—reflecting a stable business climate. More small businesses see an improving economy, helping to drive the headline score up one point.

Strong US labor market underpins economy in first quarter

U.S. job growth blew past expectations in March and wages increased at a steady clip, suggesting the economy ended the first quarter on solid ground and potentially delaying anticipated Federal Reserve interest rate cuts this year.

The US economy is flashing a recession warning that has only been wrong once in the last century, top economist says

The US economy is flashing a classic recession warning that has only shown a false positive once in the last century, according to top economist Lakshman Achuthan. The business-cycle expert and cofounder of the Economic Cycle Research Institute pointed to troubling signs of weakness in the US, with warning signs of a downturn cropping up in multiple areas of the economy.

Tax season so far: Reaching a plateau

With tax season entering its final two weeks, the average direct deposit refund amount has reached $3,152, up 5.4% on the same period in 2023. Meanwhile, the IRS processed more than 79 million returns through March 22, down slightly on last year by -1.4%, due in large part to the lower number of actual filing days this tax season (61 versus 54).

When will Fed cut rates? As US economy flexes its muscles, maybe later or not at all

Ever since the Federal Reserve signaled last fall that it was likely done raising interest rates, Wall Street traders, economists, car buyers, would-be homeowners — pretty much everyone — began obsessing over a single question: When will the Fed start cutting rates?

“Convince us to stay”: U.S.-China ties see head-spinning shift

For decades, Corporate America has raced to cash in on China’s economy. Now China officials are in sell-mode, a stunning reversal from years past.

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