U.S. economic growth edged up as expected in the third quarter, but not enough to chip away at high unemployment or change perceptions of more monetary easing from the Federal Reserve next week.
Gross domestic product expanded at a 2.0% annual rate as consumer spending rose at its quickest pace since 2006 and businesses continued to [...]
Posts Tagged ‘commerce department’
Consumer spending lifts U.S. growth
November 17th, 2010 by Financial Writer
Tags: bank, barack obama, borrow, borrowing, borrowing costs, business, business inventories, businesses, buyers, central bank, commerce department, consumer, consumer spending, Debt, deficit, democratic, economic, economic activity, economic growth, economist, economists, economy, energy, exports, fed, Federal Reserve, Florida, gdp, government, government spend, increase, inflation, interest rate, interest rates, inventories, Invest, investment, monetary, mortgage, obama, president, rate, spending, unemployment, us
more...Markets Fall for a Second Day as the Dollar Improves
November 9th, 2010 by Financial Writer
Stocks were mostly lower on Tuesday for a second straight session as the dollar strengthened and oil prices declined in late trading, eroding earlier gains in the energy sector.
The Dow Jones industrial average fell 60.09 points, or 0.53 percent, to 11,346.75. The Standard & Poor’s 500-stock index declined 9.85 points, or 0.8 percent, to 1,213.40. [...]
Tags: commerce department, Dow Jones Industrial, economic indicators, economy recovery, Global Economy, loans, real estate investment, stock market
Dollar Near One-Week High Versus Euro on Bets Fed Easing to Revive Growth
October 26th, 2010 by Financial Writer
The dollar rose to a one-week high against the euro amid speculation more debt purchases by the Federal Reserve will help revive economic growth.
Australia’s dollar fell for a second day after the nation’s consumer prices rose by less than some economists had forecast, damping prospects the central bank will raise interest rates next month. New [...]
Tags: australians, central bank, commerce department, consumers, economic growth, european central bank, Global Economy, us economic
Inflation Bonds Are Sold With Negative Yield for First Time
October 25th, 2010 by Financial Writer
At a time when savers complain that they are earning almost no interest from their bank accounts, some investors on Monday bought United States government bonds that effectively had negative rate of return.
Bizarre as it sounds, that is correct. In an auction of a special kind of five-year Treasury bond, investors paid $105.50 for every [...]
Tags: borrowers, commerce department, financial crisis, inflation, interest rates, investors, loans, money, us stocks, us treasury
Economy Offers Better Signals With Home Sales, Durable Orders
September 24th, 2010 by Financial Writer
The details in the August durable goods and new homes data offered some redemption to their otherwise disappointing headline numbers.
On Friday the Commerce Department reported that durable goods orders slipped 1.3% in August, from the upwardly revised gain of 0.7% recorded in July, and weaker than the 1% decrease forecast by the Street. Excluding the [...]
Tags: chief economic, commerce department, Economic Analysis, economy activity, home sales, homeowners
Canadian Stocks Fall as U.S. Manufacturing Data Trail Forecast
August 25th, 2010 by Financial Writer
Canadian stocks fell for a third day after the U.S. reported a smaller increase in durable-goods orders than forecast and an unexpected drop in home sales.
Manulife Financial Corp., North America’s third-largest insurer, dropped 2.9 percent as U.S. new-home sales slumped to their lowest level on record. Canadian Imperial Bank of Commerce, the country’s fifth-biggest bank, [...]
Tags: commerce department, economists, financial system, home sales, housing market, money, stock market, us unemployment
Geithner Says U.S. Unemployment May Rise Again Before Declining
August 3rd, 2010 by Financial Writer
Treasury Secretary Timothy F. Geithner said U.S. unemployment may rise again before it falls and the economy isn’t recovering rapidly enough.
“It’s possible you’re going to have a couple months where it goes up,” he said on ABC’s “Good Morning America” program. “People start to come back into the labor force, and that can cause the [...]
Tags: businesses, commerce department, economists, economy recovery, financial system, money, unemployment rate, us, us economy, US Treasuries
Imports slow second-quarter growth
July 31st, 2010 by Financial Writer
Economic growth slowed in the second quarter as a capital investment drive by businesses sucked in imports at the fastest pace since the first quarter of 1984.
Gross domestic product expanded at a 2.4 percent annual rate, the Commerce Department said in its first estimate on Friday, after an upwardly revised 3.7 percent growth pace in [...]
Tags: business investment, businesses, commerce department, economic growth, financial crisis, financial system, taxpayers, unemployment rate, us stocks
U.S. Economy Grew 2.4% in Second Quarter, Below Forecast
July 30th, 2010 by Financial Writer
Growth in the U.S. slowed to a 2.4 percent annual rate in the second quarter, less than forecast, reflecting a larger trade deficit and an easing in consumer spending.
The increase in gross domestic product compared with a median forecast of 2.6 percent of economists surveyed by Bloomberg News and follows an upwardly revised 3.7 percent [...]
Tags: business, business investment, commerce department, consumer spending, economists, global recovery, investment, us manufactured
Wholesale Inventories Rise
July 9th, 2010 by Financial Writer
Inventories of U.S. wholesalers rose in May as warehouses were restocked with machinery and other durable goods, while sales registered their first decline in 14 months.
Wholesale inventories rose 0.5% to a seasonally adjusted $398.81 billion, after increasing by a downwardly revised 0.2% during April, the Commerce Department said Friday. Originally, April inventories were estimated to [...]
Tags: business, commerce department, economic, financial system, inventory, us economic, us manufactured, us stocks, wall street, wholesale