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U.S. Construction Spending Pulls Back Less Than Expected In February

LA Is Rattled By Series Of Earthquakes, But No Damage Or Injuries Reported

Southern Californians were jolted awake by a pair of earthquakes before dawn, with the largest measuring 4.0 on the Richter scale.

There have been no initial reports of damage or injuries stemming from the quakes, which hit between 4AM and 5AM local time.

Seismologist Dr. Lucy Jones tweeted that the larger one, under Lennox, CA (near Inglewood) “would have been felt by most people awake in LA.” It was “very deep,” at about 20 kilometers below the earth’s surface, she added. A “foreshock” nearby hit 3.3 on the Richter scale.

The two main quakes were followed by several smaller ones in the area around Inglewood and Lennox, near LAX and about 10 miles southwest of downtown LA.

Those in the entertainment business had just closed the latest chapter in the runup to the Oscars with the SAG Awards a few hours before the minor natural disasters struck. Twitter pulsed with tweets from those roused from sleep — or prevented from attaining it.

Local media also painted a picture. KCBS-TV anchor DeMarco Morgan looked around and paused his regular reading of the morning news script. “That was definitely an earthquake,” he said. “You were not dreaming.”

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NCAA men’s national championship: Five reasons Baylor will ruin Gonzaga’s perfect season

INDIANAPOLIS — A perfect season is on the line in Monday night's men's NCAA Tournament championship game.

Not since 1976, when Bob Knight's Indiana team went 32-0, has a Division I men's college basketball team finished unbeaten. Following its buzzer-beating Final Four win over UCLA, 31-0 Gonzaga has a chance to make history. 

Standing in the way is a worthy opponent and national title favorite in its own right – Baylor. The No. 1 seeded Bears (27-2) thrashed Houston in Saturday's early Final Four game and have what it takes to spoil the Zags' perfect season.

“The level of skill they possess, the way they shoot the ball, they play off each other so well. They’re complete," Gonzaga coach Mark Few told reporters Sunday. 

KEEP IT: Baylor-Gonzaga men's title game shows why NCAA Tournament must be preserved at all costs

WON'T FORGET IT: Eight reasons this men’s NCAA Tournament has been best ever

A look at why an upset is in store:

DoTERRA Recalls 1.3 Million Bottles Of Essential Oils

doTERRA is recalling about 1.3 million bottles of Deep Blue, PastTense and Deep Blue Touch Essential Oils for potential risk of poisoning for young children, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed.

The company said the packaging of the products is not child resistant, which poses a risk of poisoning if the contents are applied to the skin or swallowed by young children.

The products contain the substance methyl salicylate, which must be in child resistant packaging as required by the Poison Prevention Packaging Act (PPPA).

However, the company is yet to receive any reports of incidents or injuries involving the recalled essential oils.

The recall involves doTERRA Deep Blue, PastTense and Deep Blue Touch Essential Oils in 10 mL glass bottles with rollerball applicator and black cap. doTERRA logo are printed on the product labels.

Twelve lots of Deep Blue, thirty-three lots of PastTense and seven lots of Deep Blue Touch were involved in the recall.

The recalled essential oils were manufactured in the United States by Pleasant Grove, Utah-based doTERRA International LLC. It was sold online at doTERRA.com from September 2018 through September 2020 for between $26 and $79.

The company has advised consumers to immediately store the products in a safe location out of reach of children and contact doTERRA for a free replacement product of similar value.

U.S. Factory Orders Pull Back More Than Expected In February

After reporting sharp increases in new orders for U.S. manufactured goods over the past several months, the Commerce Department released a report on Monday showing a pullback in factory orders in the month of February.

The Commerce Department said factory orders slid by 0.8 percent in February after spiking by an upwardly revised 2.7 percent in January.

Economists had expected factory orders to decrease by 0.5 percent compared to the 2.6 percent jump originally reported for the previous month.

The bigger than expected drop in factory orders came as durable goods orders tumbled by 1.2 percent, led by a 1.8 percent slump in orders for transportation equipment. Non-durable goods orders also fell by 0.4 percent.

The report also showed shipments of manufactured goods plunged by 2.0 percent in February after jumping by 1.8 percent in January.

Meanwhile, inventories of manufactured goods increased by 0.8 percent in February following a 0.2 percent uptick in January.

With inventories rising and shipments falling, the inventories-to-shipments ratio climbed to 1.40 in February from 1.36 in January.

U.S. Construction Spending Pulls Back Less Than Expected In February

After reporting sharp increases in U.S. construction spending over the past few months, the Commerce Department released a report on Thursday showing a pullback in construction spending in the month of February.

The Commerce Department said construction spending fell by 0.8 percent to an annual rate of $1.517 trillion in February after jumping by 1.2 percent to a revised rate of $1.529 trillion in January. Economists had expected construction spending to slump by 1.0 percent.

The pullback in construction spending was partly due to a steep drop in spending on public construction, which tumbled by 1.7 percent to a rate of $351.2 billion.

Spending on educational construction plunged by 3.2 percent to a rate of $86.9 billion, while spending on highway construction slid by 0.6 percent to a rate of $102.3 billion.

The report also showed a pullback in spending on private construction, which fell by 0.5 percent to a rate of $1.166 trillion.

Spending on residential construction edged down by 0.2 percent to a rate of $717.9 billion, while spending on non-residential construction slumped by 1.0 percent to a rate of $447.8 billion.

Despite the monthly decrease, total construction spending in February was up by 5.3 percent compared to the same month a year ago.