Commerce department News

The US economy slowed less than initially thought in the first quarter, but there are signs it could struggle to rebound sharply in the second quarter amid slowing business investment and moderate consumer spending.

The US government will give Chinese telecom equipment and smartphone maker ZTE Corp a three-month reprieve on tough export restrictions it imposed earlier this month, the Commerce Department said on Tuesday.  

The US trade deficit swelled in March to a six-year high on a surge in imports from the end of the West Coast port strike backed by the strong dollar.

Sales of new single-family homes in the United States surged in February to a seven-year high, accelerating for the third consecutive month, the Commerce Department reported Tuesday.

US consumer spending fell in December in the midst of the key year-end holiday shopping season, while their incomes continued to grow, Commerce Department data released Monday showed.