Retail sales rose more than expected in November, boosting hopes that the all-important consumer sector will support the fragile recovery.
Signs of a strengthening global recovery emerged Friday, with consumers boosting retail sales, companies restoring stockpiles and Chinese exports mounting a comeback.
The reports heightened hopes that consumers are starting to feel more comfortable about opening their [...]
Archive for December, 2009
Economy gets tidings of hope for holidays
December 11th, 2009 by Financial Writer
Tags: economy, holidays, increase economists, retail sales, us economic
more...Share some financial lessons with these gift ideas
December 10th, 2009 by Financial Writer
While others are blowing their holiday budgets, you can set an example and send a message by giving a gift with a focus on personal finance.
The economic downturn highlights the importance of understanding money matters, and there are items available for every age group that can help teach important concepts.
The important thing is to make [...]
Tags: economic, financial education, financial lessons, holiday budgets, money choices
Costco 1Q profit edges higher, sales climb
December 10th, 2009 by Financial Writer
A strong turnaround in a key sales figure and rising revenue despite lower gasoline prices helped Costco Wholesale Corp. post a slight increase in its fiscal first-quarter profit on Thursday.
The nation’s largest wholesale-club operator has been helped by sales of food and everyday items to recession-weary consumers during the economic downturn, but has recently seen [...]
Tags: costco, financial meltdown, recession, us warehouse, wholesale
House passes tax hike for investment managers
December 9th, 2009 by Financial Writer
The House voted Wednesday to slap higher taxes on Wall Street investment managers to help pay to extend $31 billion in tax breaks for Americans, including popular deductions for local and state sales and property taxes.
The 45 tax deductions and credits for businesses and individuals are scheduled to expire at year’s end. The House voted [...]
Tags: businesses, businesses finance, investment managers, real estate
Slow growth and high unemployment for U.S. in 2010: report
December 9th, 2009 by Financial Writer
Low interest rates will prevail through most of next year as the U.S. economy expands modestly and the unemployment rate remains stuck in double digits, the UCLA Anderson Forecast group said on Wednesday.
“Specifically, we forecast that after growing at 2.8 percent in the most recent and current quarters, real GDP growth will settle into a [...]
Tags: central bank, Federal Reserve, great depression, interest rates, unemployment, us economy
Obama packs political punch into economic speech
December 8th, 2009 by Financial Writer
President Barack Obama packed an economic speech with a political punch on Tuesday, blaming Republicans for creating high deficits, mismanaging bank bailouts and obstructing efforts to reform healthcare.
Obama, a Democrat, announced new measures to spur job growth, but he spent a good chunk of his speech defending his record and tarring the opposition party for [...]
Tags: Debt, economic speech, economic trends, packs political, unemployment
Stock futures fall as traders boost dollar, bonds
December 8th, 2009 by Financial Writer
Stock futures indicated a lower opening on Wall Street Tuesday, as investors sought more safe-haven assets like the dollar and Treasurys.
The dollar gained ground against other major currencies, while bond prices rose. Commodities fell as the dollar rose. A stronger dollar makes commodities more expensive for buyers overseas, and also hurts profits at companies that [...]
Tags: dow jones, Federal Reserve, investors, recession, stock futures, wall street
Short-term Treasury rates mixed at weekly auction
December 7th, 2009 by Financial Writer
Interest rates on short-term Treasury bills were mixed in Monday’s auction. Rates on three-month bills dropped to the lowest level in two weeks, while rates on six-month bills rose to the highest level since early November.
The Treasury Department auctioned $30 billion in three-month bills at a discount rate of 0.050 percent, down from 0.060 percent [...]
Tags: economy recovery, Federal Reserve, rate mortgages, rates mixed, struggling economy
AP analysis: US economy entering sluggish recovery
December 7th, 2009 by Financial Writer
Now that the Great Recession appears over, the economy looks to be entering a Rocky Recovery, in which much of the nation will continue to struggle well into 2010.
The Associated Press’ monthly analysis of economic stress in more than 3,100 U.S. counties found the economy little changed in October compared with September. Some states saw [...]
Tags: economy recovery, great recession, real estate, unemployment, us economy
U.S. job data gives boost to recovery hopes.
December 4th, 2009 by Financial Writer
U.S. employers cut far fewer jobs than expected last month in the best showing for the labor market since the recession began, boosting the U.S. dollar and global stock prices on hopes for a strong economic recovery.
The economy shed only 11,000 jobs in November, well below the 130,000 loss financial markets had braced for, while [...]
Tags: economic recovery, recession, recovery hopes, unemployment, us employers, us job