WASHINGTON — Factories are churning out more goods. Consumers are spending. Government aid is fueling construction activity. But stagnant pay and weak hiring will likely restrain the economic rebound in coming months.
That cautionary picture emerged from a series of economic reports Monday.
Consumers stepped up their spending in March by the largest amount in five months. [...]
Archive for the ‘Global Economy’ Category
Economic outlook is cautious even with spending up
May 3rd, 2010 by Financial Writer
Tags: businesses, commerce department, economy, housing market, inflation, money, recession, U.S. markets, unemployment rate, us economy
more...Business Spending Propels Recovery
May 1st, 2010 by Financial Writer
The U.S. economy grew at a slower pace in the first quarter, but the underlying trends—including a bigger share of growth from industry, strong consumer spending and low inflation—were encouraging.
The nation’s gross domestic product, the value of all goods and services produced, grew at an annual rate of 3.2% after climbing 5.6% in the fourth [...]
Tags: business, commerce department, consumer spending, Dow Jones Industrial, economy, economy recovery, us economy, USA, wall street
US Stocks Open Mixed After GDP, Financials Weak On Goldman Probe
April 30th, 2010 by Financial Writer
NEW YORK (Dow Jones)–U.S. blue-chip stocks edged up after consumer spending rose within the first-quarter gross domestic product, but financials weakened after federal prosecutors launched a probe into Goldman Sachs.
The Dow Jones Industrial Average edged up 11 points, or 0.1%, to 11178 in early trading, putting it on track to close up for the third [...]
Tags: Dow Jones Industrial, economic, european union, financial, financial system, Global Economy, IMF, mortgages, stock market, us economy, us stocks
FOREX-Euro gains on hopes of Greek aid package
April 29th, 2010 by Financial Writer
* Euro recovers, supported by optimism on Greek aid package
* Solid euro zone data helps; Greek bond spreads narrow
* U.S. weekly jobless claims fall in latest week
The euro rose on Thursday, rebounding from a one-year low the previous day, on hopes a bailout plan for Greece was imminent and would help it avoid a debt [...]
Tags: banks, Capital economics, economy, european union, Federal Reserve, financial, financial markets, interest rates, investors, monetary, us economy
Barrick Profit Tops Estimate on Higher Gold Price
April 28th, 2010 by Financial Writer
Barrick Gold Corp., the world’s largest bullion producer, reported first-quarter profit that beat analysts’ estimates as prices and sales of the precious metal climbed.
Net income more than doubled to $758 million, or 76 cents a share, from $371 million, or 42 cents, a year earlier, Toronto- based Barrick said today in a statement. Profit excluding [...]
Tags: business, economy, financial, financial markets, financial system, Global Economy, gold price, investors
CIT Group Gains After Reorganized Lender Posts Surprise Profit
April 27th, 2010 by Financial Writer
CIT Group Inc., the commercial lender run by John A. Thain, rose in New York trading after posting a surprise profit for its first full quarter since emerging from bankruptcy.
CIT gained 79 cents, or 1.9 percent, to $41.49, as of 10:28 a.m. in New York Stock Exchange composite trading and sold for as much as [...]
Tags: economy, financial, financial markets, financial system, Global Economy, interest rates, investors, lender, us economy
OIL FUTURES: Oil Weakens Post-Rally, Traders Eye Fed Meeting
April 26th, 2010 by Financial Writer
Crude oil futures declined Monday morning, losing ground as traders feared last week’s strong economic data that pushed oil above $85 a barrel may also push the Federal Reserve closer toward eventually raising interest rates.
Light, sweet crude for June delivery declined 56 cents to $84.56 a barrel on the New York Mercantile Exchange. Brent crude [...]
Tags: business, economy, Federal Reserve, financial, financial markets, Global Economy, Global Recession, investors, oil prices
European Stocks Fall on Budget Deficit; Nokia Drops, RBS Gains
April 24th, 2010 by Financial Writer
April 24 (Bloomberg) — European stocks fell for a second week as the euro area’s budget deficit widened to more than double the European Union’s 3 percent limit in 2009, led by Greece and Ireland, offsetting better-than-expected results from companies including Ericsson AB and Volvo AB.
Greek banks sank as Moody’s Investors Service cut Greece’s sovereign [...]
Tags: dow jones, euro, european economy, european markets, european stocks, european union, financial, financial markets, Global Economy, IMF, investors
Gold May Decline in New York as Greek Aid Might Erode Demand
April 23rd, 2010 by Financial Writer
April 23 (Bloomberg) — Gold futures may fall in New York on speculation that Greece’s request for funding aid will curb demand from investors seeking an alternative to debt.
Greece asked for as much as 45 billion euros ($60 billion) in loans from the European Union and International Monetary Fund to help the government stave off [...]
Tags: Debt, economic recovery, economy, european union, Global Economy, investors, new york, us economy, USA
IMF says global economy to grow 4.2 pct this year
April 22nd, 2010 by Financial Writer
WASHINGTON — The International Monetary Fund said Wednesday that the global economy, after enduring a crippling recession, should see better-than-expected growth this year, led by strength in China and other developing nations.
In an updated economic outlook, the IMF forecast that the world economy would expand 4.2 percent this year, faster than its previous projection and [...]
Tags: economy recovery, Federal Reserve, financial, financial crisis, Global Economy, Global Financial, Global Recession, us economy, us treasury