Commerce Department – Page 16

GDP Gain in First Quarter Revised Downward in U.S.

Consumers eased up on spending in the face of rising prices and high interest rates, Commerce Department data shows.

By Ben Casselman

Biden, Joseph R Jr Bloomington (Minn) Commerce Department Computer Chips Factories and Manufacturing Supply Chain United States Politics and Government

U.S. Awards $120 Million to Polar Semiconductor to Expand Chip Facility

The grant is the latest federal award in a series stemming from the CHIPS and Science Act meant to ramp up domestic production of vital semiconductors.

By Madeleine Ngo

Commerce Department Computer Chips Factories and Manufacturing Politics and Government States (US) United States Economy United States Politics and Government

Billions in Chips Grants Are Expected to Fuel Industry Growth, Report Finds

The United States will triple its domestic chip manufacturing capacity by 2032, the largest increase in the world, according to a report from the Semiconductor Industry Association.

By Madeleine Ngo

Commerce Department Consumer Behavior Federal Reserve System Gross Domestic Product Interest Rates Prices (Fares, Fees and Rates) United States United States Economy

U.S. Economy Grew at 1.6% Rate in First-Quarter Slowdown

Gross domestic product, adjusted for inflation, increased at a 1.6 percent annual rate in the first three months of the year.

By Ben Casselman