Orders to U.S. factories for big-ticket manufactured goods shot up in January by the largest amount in six months, but the strength came from a surge in demand for commercial aircraft.
Demand for autos, machinery and a host of other products fell last month, indicating manufacturing is still facing hurdles that could slow the economic recovery.
The [...]
Archive for the ‘Global Financial’ Category
Durable goods orders rise 3 percent in January
February 25th, 2010 by Financial Writer
Tags: commerce department, commercial aircraft, domestic economy, economic recovery, manufactured goods
more...Fed to Get $200 Billion Boost
February 24th, 2010 by Financial Writer
The Treasury said it will borrow $200 billion and leave the cash proceeds on deposit with the Federal Reserve, reviving a program that will make it easier for the Fed to raise interest rates when the time comes.
Officials sought to dispel the notion that the move marks a step toward tightening credit now.
Fed Chairman Ben [...]
Tags: ben bernanke, borrow, borrowing, fed, Federal Reserve, financial services, interest rates
Confidence sags on jobs worry; housing shaky
February 23rd, 2010 by Financial Writer
U.S. consumer confidence sagged to a 10-month low on worries about jobs while the housing market remains under strain, data revealed on Tuesday, underscoring the fragility of the economy’s recovery.
U.S. consumer confidence fell in February to the lowest in 10 months, as consumers’ short-term outlook on jobs worsened, according to a report from an industry [...]
Tags: commercial real estate, economy's recovery, housing market, housing shaky, us consumer
Poll: Economists see ‘healthy’ expansion under way
February 22nd, 2010 by Financial Writer
Economists expect the recovery to remain “firmly on track” over the next two years though job growth is likely to remain slow, according to a new survey.
The latest outlook from The National Association for Business Economics, set to be released Monday, sees regular job gains resuming this quarter but no drop in unemployment below 9 [...]
Tags: business economics, economists, federal debt, inflation, unemployment
Low inflation gives Fed room to keep rates down
February 20th, 2010 by Financial Writer
The Federal Reserve seems likely to keep interest rates at record lows for several more months after news Friday that consumer prices excluding food and energy fell in January.
It was the first time such prices have fallen in any month since 1982.
The tame report on consumer prices sent a positive signal to investors and borrowers. [...]
Tags: borrowers, businesses, Dow Jones Industrial, economic recovery, Federal Reserve, global financial markets, investors, low inflation
Consumers spent at 2009 levels in January
February 18th, 2010 by Financial Writer
American consumers say they reduced their spending in January to levels similar to early 2009, when the U.S. economy was still in recession, according to a Gallup poll released on Thursday.
The findings, which contradict U.S. data suggesting spending strength in January, showed consumers in all income brackets and geographic regions spending less in January vs. [...]
Tags: consumers, financial markets, great depression, us economy, us retail sales
Deere profit beats Wall Street
February 17th, 2010 by Financial Writer
Deere & Co (DE.N) posted higher-than-expected earnings, sending its shares up more than 8 percent, as wider margins at its farm equipment and finance units helped it overcome weak economic conditions.
The company on Wednesday also raised its outlook for fiscal 2010 machinery sales growth to a range of 6 percent to 8 percent, from a [...]
Tags: business, deere, finance, financial services, wall street
World markets buoyed by banks despite Greek fears
February 16th, 2010 by Financial Writer
World stock markets mostly rose Tuesday after strong earnings from British bank Barclays PLC and ahead of Wall Street’s open following a public holiday in the U.S.
However, investors, particularly in Europe, remained wary about the Greek debt crisis and the associated response from the European Union.
In Europe, the FTSE 100 index of leading British shares [...]
Tags: british bank, european union, greek debt, greek fears, stock markets
EU’s Almunia says antitrust rules important in crisis
February 15th, 2010 by Financial Writer
Joaquin Almunia, the EU’s newly-appointed competition chief, said on Monday the economic crisis was no excuse for loosening strict antitrust rules and reducing fines for violations that critics say are too high.
Almunia, the former monetary affairs commissioner who took over the competition portfolio from Neelie Kroes last week, outlined his priorities at an industry event [...]
Tags: businesses, economic crisis, european commission, joaquin almunia
U.S. Treasury: economy to keep growing in 2010
February 14th, 2010 by Financial Writer
The United States economy is expected to continue growing this year, although global recovery remains fragile, Deputy U.S. Treasury Secretary Neal Wolin said on Sunday.
Growth of the world’s biggest economy is expected to cool this year after a burst of activity late last year as challenges remain in bank lending and policy-making.
“We expect to see [...]
Tags: bank lending, banking committee, financial reform, global recovery, us economy