Economy Now

Instant reaction and smart charts on economic trends.

Wine exports surge ... from Florida and New Jersey?

March 15, 2013: 3:24 PM ET

The last few years have been ripe for U.S. vintners. Wine exports have surged 64% since 2007.


While most exports still come from California, other states are getting in on the game. New York has long been known for its growing wine industry, but Florida and New Jersey are nursing start-up vineyards as well.


The top overseas destinations for U.S. wine are the U.K. and China, according to the Southern United States Trade Association.

Most U.S. wines outside of Napa Valley still don't have the cachet as, say, wines from the Loire Valley or Chile. So what's the draw?

In Asia "there's a lot of conspicuous consumption," said SUSTA Executive Director Jerry Hingle. "They want something unique, something their neighbors aren't drinking yet."

If they're drinking Trenton Cabernet, that's probably a pretty safe bet.

  • Why California is broke, and Texas is not

    Dallas Federal Reserve President Richard Fisher is proud of the Texas economy and isn't afraid to let it show.

    Known for colorful speeches that often include Lindsay Lohan, tequila or Washington Irving references, Fisher offered up this joke in a speech before the conservative Cato Institute Wednesday afternoon.

    Here, he describes how Texas has succeeded in producing a "pro-business, pro-growth environment," versus a state like California, which he says has done just MORE

    - Oct 10, 2012 4:46 PM ET
  • California warily watches Facebook stock price

    Facebook investors and employees aren't the only ones carefully watching the company's stock price deflate.

    California, which was hoping to net up to $2 billion for its cash-strapped budget from Facebook's IPO, acknowledged this week that the company's stock price has "fallen far below" the $35 level assumed in the state's revenue projections.

    Facebook (FB) dipped below $20 for the first time on Thursday, a far cry from its $38 initial public MORE

    - Aug 2, 2012 3:19 PM ET
  • Who's got the money?

    Who makes the big bucks in America?

    Middle-aged white couples.

    We all know that income is concentrated in the United States, but Sentier Research has crunched the data to show just who has the money.

    Take a look at the breakdown by race:

    White households have an aggregate income of $6.2 trillion, while Hispanics have an aggregate income of $710 billion and blacks $641 billion. Asians, meanwhile, have $419 billion.

    To be sure, there are MORE

    - May 31, 2012 2:00 PM ET
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.30%4.31%
15 yr fixed3.69%3.64%
5/1 ARM4.15%4.02%
30 yr refi4.27%4.26%
15 yr refi3.66%3.60%
Rate data provided
View rates in your area
Find personalized rates:
Economic Calendar
Latest ReportNext Update
Home pricesAug 28
Consumer confidenceAug 28
GDPAug 29
Manufacturing (ISM)Sept 4
JobsSept 7
Inflation (CPI)Sept 14
Retail sales Sept 14
Powered by VIP.