Browsed by
Month: February 2024

What recession? Professional forecasters raise expectations for US economy in 2024

What recession? Professional forecasters raise expectations for US economy in 2024

NEW YORK (AP) — This year looks to be a much better one for the U.S. economy than business economists were forecasting just a few months ago, according to a survey released Monday.

The economy looks set to grow 2.2% this year after adjusting for inflation, according to the National Association for Business Economics. That’s up from the 1.3% that economists from universities, businesses and investment firms predicted in the association’s prior survey, which was conducted in November.

It’s the latest signal of strength for an economy that’s blasted through predictions of a recession. High interest rates meant to get inflation under control were supposed to drag down the economy, the thinking went. High rates put the brakes on the economy, such as by making mortgages and credit card bills more expensive, in hopes of starving inflation of its fuel.

But even with rates very high, the job market and U.S. household spending have remained remarkably resilient. That in turn has raised expectations going forward. Ellen Zentner, chief U.S. economist at Morgan Stanley and president of the NABE, said a wide range of factors are behind the 2024 upgrade, including spending by both the government and households. read more

Emergency shutdowns of 2 Central Florida restaurants and a food truck ordered last week

Emergency shutdowns of 2 Central Florida restaurants and a food truck ordered last week

Two Central Florida restaurants and a food truck shut down the week of Feb. 18-24, according to data from the Florida Department of Business and Professional Regulation.

Orange

La Isla Del Frappe at N. Goldenrod Road, Vin 5160, in Orlando shut down on Feb. 23.

Inspectors found eight violations, three of which were a high priority.

Those violations included an employee working without washing their hands, no potable running water and flying insects inside the kitchen.

A second inspection took place on Feb. 24.

Officials found two violations but none were a high priority.

The food truck requires another follow-up inspection but there are no immediate threats to the public.

Volusia

C’s Country Diner at 741 N. U.S. Hwy 1 in Oak Hill shut down on Feb. 19.

Inspectors found three violations, one of which was a high priority for backed up sewage in the bathrooms.

A second inspection took place on Feb. 20.

No violations were found.

Brevard

The Island Waterfront Bar And Grill at 1891 E. Merritt Island Causeway in Merritt Island shut down on Feb. 21. read more

Landing mishap to cut short historic private moon lander mission

Landing mishap to cut short historic private moon lander mission

After the historic return of the U.S. to the surface of the moon after more than 50 years last week, a private company’s lunar lander will likely have its mission cut short because of how it landed.

Houston-based Intuitive Machines that managed to touch down on the moon last Thursday with its Nova-C lander Odysseus, but tipped over to one side, is not expected to be able to maintain power or communicate with mission managers beyond Tuesday, according to a statement from the company.

“Flight controllers intend to collect data until the lander’s solar panels are no longer exposed to light. Based on Earth and moon positioning, we believe flight controllers will continue to communicate with Odysseus until Tuesday morning,” reads an update from the company’s website.

That’s bad news for NASA, which paid the company $118 million as part of its Commercial Lunar Lander Services program, which tasks private companies to build hardware capable of bringing payloads to the moon. NASA has six payloads on board worth about $12 million that were aiming for eight to nine days of life before the sun set on that part of the moon, although Intuitive Machines’ pre-launch target was seven days. read more