Homebuilding Permits Tumble in April

The housing market is showing signs of cooling, as U.S. homebuilding permits dropped to a five-month low last month, Reuters reports. "Homebuilding was already being constrained by soaring prices as well as shortages of materials," the article reads. "The housing market is the sector of the economy most sensitive to interest rates, with building pe...
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Biden Administration to Ease Some Economic Sanctions Against Venezuela

The U.S. is moving to ease some economic sanctions against Venezuela in hopes to encourage negotiations between the U.S.-backed opposition and Nicolás Maduro's government, according to the Associated Press.Several U.S. oil firms had their Venezuelan operations frozen by sanctions first imposed in 2019 to "choke oil exports and deprive Caracas of it...
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Listen to the Latest Episode of Extra Credit!

Grab a cup of coffee and start your morning by listening to the latest episode of NACM's Extra Credit #podcast! 🎤 🎧Episode #7 (buzzsprout.com)This week we chatted about...1. The biggest challenges facing the U.S. economy today2. How industry credit groups compare to other information sources3. Turning risk into opportunities for growthWhat topics w...
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Long Road to Recovery for US Inflation

Inflation slowed in April after seven months of surging, a signal that prices may already have peaked. However, inflation still has a long way to go. Consumer prices rose 8.3% in April, down slightly from the 8.5% year-over-year surge in March, per a government report."The Federal Reserve has signaled that it is all-in on fighting inflation but cal...
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Cost of Diesel Continues to Climb

The price for a gallon of diesel fuel hit another record month, costing $5.62 compared to the average $2.44 per gallon the same time last year, according to the American Automobile Association (AAA). The cost increases come as diesel inventories sit at historic lows."Fuel prices have surged as efforts to isolate Russia, one of Europe's most importa...
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US Fed Makes Biggest Interest Rate Hike In 22 Years

​The Federal Reserve raised the benchmark interest rate by half a percentage point on Wednesday, it's most aggressive hike since 2000. The Fed also hinted to further rate hikes in the future as it tries to tame the worst inflation in 40 years."With appropriate firming in the stance of monetary policy, the Committee expects inflation to return to it...
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Listen to this week's episode of the Extra Credit Podcast!

Happy Friday! Take a few minutes and get caught up on all things #B2Bcredit with this week's episode of the Extra Credit #podcast. https://www.buzzsprout.com/1927071/10527186On this week's episode: How to manage credit during a recession; Navigating conflict as a #leader; Using technology to create more value-added time for the credit team.You...
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Chinese Yuan Continues to Drop Against US Dollar

China's currency hit a 17-month low against the U.S. dollar today, as fears grow about the economic repercussions from continued Covid lockdowns in some major Chinese cities. "There are concerns about the Covid situation in Beijing evolving into what happened in Shanghai with some prolonged lockdowns that bites the economy," Kevin Li, portfolio man...
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New Podcast Episode from NACM!

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 It's Friday and you know what that means! The latest episode of our Extra Credit podcast is out now!Get up to date on all things B2B credit in just a few minutes. This week we took a close look at how supply chain disruptions are here to stay and what factors could lead to a U.S. recession. Listen to the newest episode here: ht...
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Role of US Dollar Could be Changing

The U.S. dollar has remained the world's reserve currency since 1944 and is used in roughly half of all financial transactions, according to Kellogg Insight. But the dollar's status in global trade may be in jeopardy as countries begin diversifying their reserves with alternative currencies as a form of economic protection. "We might see an erosion...
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President Biden Issues Guidance Requiring U.S. Content in Fed Funded Projects

The Biden Administration issued guidelines Monday for the materials to be used on projects funded through the infrastructure passed in November. As of May 14, federally funded projects must use materials manufactured in the United States, including iron and steel. Component costs for a final product must be greater than 55% of the total cost.Howeve...
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US Wholesale Inflation Rose at Fastest Pace Ever Recorded in March

Supplier prices rose 11.2% from a year ago in March, according to data released today by the Bureau of Labor Statistics. Food and energy played a massive role in rising inflation. If you exclude more volatile food and energy prices, the core Producer Price Index (PPI) rose 0.9% on a monthly basis, nearly double the 0.5% estimate."These numbers are ...
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Biden Signs Bans Russian Energy Imports, Revokes Trade Relations

President Joe Biden signed two bills into law Friday: one that revokes normal trade relations with Russia and Belarus and another that bans imports of energy products, including mineral fuels, oils and waxes."Revoking normal trade relations, which requires congressional action in the United States, would end Russia's status as a 'most favored natio...
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Manufacturing Index Shows Economic Expansion in Overall Economy for 22 Months Straight

The purchasing managers' index (PMI) stood at 57.1% in March—following a February reading of 58.6%, according to the Institute for Supply Management® (ISM) March 2022 Manufacturing Report On Business. This decrease in 1.5 percentage points indicates expansion in the overall economy for the 22nd month in a row and is the PMI's lowest rating since Se...
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Mexico-US Trade Partnership is Booming

Mexico finished 2021 as the No. 1 trade partner of the U.S. for only the second time ever, according to Forbes. And trade between the two countries is only expected to grow as more businesses look to nearshore."A lot of companies that went to China, Thailand or Vietnam are considering bringing their investments back to North America," Kenneth Smith...
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Fears of a US Recession on the Horizon

Businesses have put up a tough fight against record-high inflation, supply disruptions and labor shortages for two years now. But the U.S. Treasury yield curve could possibly signal a losing battle. "The bond market just flashed a warning sign that has correctly predicted almost every recession over the past 60 years: an inversion of the U.S. Treas...
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China Continues to Suffer Lockdowns

Shanghai, China's largest city and finance and international business hub, began lockdown measures today following the country's worst COVID outbreak since the beginning of the pandemic, according to CNBC. Oil prices already have dropped by more than $9 due to the lockdown and an expected decrease in demand.Further disruptions to supply chains are ...
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India and Russia Could Have a Rupee-Ruble Trade Agreement Early Next Week

Russia and India could bring back a payment arrangement from the Cold War-era that would allow Indian exporters to keep doing business with Russia without the use of US dollars (the primary international trade currency), CNBC reported.A Sakthivel, president of the Federation of Indian Export Organizations (FIEO) told the news outlet that "the India...
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Material Prices Spike for Nonresidential Construction in Recent Analysis

Prices for new nonresidential construction rose more than 21% from February 2021 to February 2022, according to an Associated General Contractors of America (AGC) analysis of government data. (The association noted that more recent price announcements made after the February data was collected suggest contractors are experiencing even worse cost pr...
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Oil Prices Dropping Quickly Despite Ongoing Russia-Ukraine Conflict

Oil prices fell below $100 barrel Wednesday, down from the 14-year-high of $130 per barrel it sat at just last week. However, gas prices remain mostly unchanged. The national average price for regular gas dropped by just two pennies from Monday to $4.31 a gallon on Wednesday, according to AAA. "It bears reminding that the cost of oil accounts for a...
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