Economy Archive

Weak Economy Aboard Threatens US Recovery

Troubles overseas are threatening the U.S. recovery for the fourth year in a row. This time it’s weakening economies abroad, rather than tumbling financial markets, signaling turbulence ahead. U.S. exports of goods to the European Union are declining outright. Growth in overall U.S. exports has been sputtering for months, after a three-year

U.S. Retail Sales Climb in Dec.; N.Y. Manufacturing Falls

 U.S. retail sales rose more than expected in December as holiday shoppers appeared to shrug off fiscal-cliff worries, though future gains could be limited as workers’ paychecks are set to shrink. Retail and food-service sales increased 0.5% in the final month of 2012 to a seasonally adjusted $415.70 billion, the Commerce Department

Fed’s Lacker Says More Stimulus Risks Inflation

       The Federal Reserve’s decision to buy more bonds and implement other such easing measures creates the possibility of raising inflation, Richmond Fed President Jeffrey Lacker said Tuesday. The central bank said last week it would begin buying an additional $40 billion of mortgage-backed securities a month on an open-ended

U.S. Resale Data Strong

U.S. home resales rose in July, helped by low interest rates and increased hiring although the data still pointed to a slow recovery in housing that will provide only slight support for the economy. Sales of previously owned homes rose 2.3 percent to an annual rate of 4.47 million units, the National

September Private-Sector Jobs +91K Vs Expected +75K

Private businesses added slightly more than expected jobs in September, according to a report released Wednesday. But large companies cut jobs and thanks mostly to two enterprises cutting staff, layoff announcements last month jumped to the highest number in more than two years. Private-sector jobs in the U.S. rose by 91,000 last

ECB Trichet: Not In Favor Of Bailout Funds Refinanced By ECB

The euro zone’s economic growth is likely to be “very moderate” in the second half of 2011, with risks “to the downside,” European Central Bank President Jean-Claude Trichet said Tuesday. “We expect very moderate real GDP growth in the euro area in the second half,” Trichet said at a hearing of the

Consumer Burrowing Plunged At Fastest Pace In 18 Years

Consumer borrowing plunged in March at the fastest pace in 18 years as Americans put away their credit cards and hoarded cash amid the worst recession in decades. The Federal Reserve said Thursday that consumer borrowing dropped 5.2 percent in March, the biggest decline since an 8.1 percent fall in December 1990.

New Record Could Be Set For Job Losses

Unemployment in the U.S. probably climbed in January to the highest level since 1992 and payrolls dropped for a 13th consecutive month as the recession showed no sign of abating. The jobless rate rose to 7.5 percent. Employers cut headcounts by 540,000 people, surpassing a half million for a third month. Payrolls

Will Americans Change Their Spending Habit

Wealth Daily had an interesting article about where Americans stand on spending. It’s no longer wimpy to save, and it may not be so cool to spend. At least that’s the story several new sets of data tell as the market meltdown continues to change our economic attitudes. The U.S. household savings

FDIC May Run "Bad Bank"

Bloomberg has an article on: FDIC may run Bad Banks The Federal Deposit Insurance Corp. may manage the so-called bad bank that the Obama administration is likely to set up as it tries to break the back of the credit crisis. U.S. stocks gained, extending a global rally, on optimism the bad-bank