Washington Observer

Trusted News Source

Business

Manufacturing in March Falls Less Than Expected as COVID-19 Pandemic

The COVID-19 pandemic dented in manufacturing in March, but activity fell less than expected, according to two readings on the sector released Wednesday.The Institute for Supply Management’s manufacturing purchasing managers’ index slipped to 49.1% from 50.1% in February. The consensus on Econoday was for a print of 44%. Respondents were “negative regarding the near-term outlook, […]

Business

Kroger Sees March Sales Surge on COVID-19 Pandemic Buying While

Kroger (KR) saw a surge in same-store sales last month as US consumers stocked up on goods to manage during the COVID-19 pandemic, while the grocery chain said it’s expecting volatility throughout the rest of the year but maintained guidance for the period. Identical retail supermarket sales without fuel jumped 30% in March, “driven by […]

Uncategorized

US Weekly Oil Stockpiles Jump By Nearly 14 Million Barrels,

US oil supplies surged last week, government data showed Wednesday, and the sharp build led investors to further drag down oil prices.Oil inventories increased by 13.8 million barrels in the week ended March 27 to 469.2 million barrels, the Energy Information Administration. Inventories were near the five-year average for this time of year. A week […]