The government lowered its estimate of how much the economy grew in the first quarter of 2010, noting that consumers spent less than it previously thought.
The country’s gross domestic product rose by an annual rate of 2.7 percent for January through March, the Commerce Department said on Friday. That was less than the 3 percent [...]
Posts Tagged ‘us consumer’
U.S. Growth Is Revised Downward, to 2.7%
June 27th, 2010 by Financial Writer
Tags: businesses, commerce department, debt crisis, economists, economy grew, european economy, financial system, recessions, us consumer
more...Oil ends down after U.S., China data disappoint
June 12th, 2010 by Financial Writer
U.S. oil prices fell more than 2 percent on Friday as an unexpected fall in May retail sales in the United States and easing industrial output in China revived concerns about the economy and oil demand.
Friday’s slide snapped a three-day string of higher closes, but for the week oil prices still managed a 3.17 percent [...]
Tags: Chinese economy, commerce department, euro zone, investors, oil prices, stock market, us consumer, us retail sales
Gold firms as risk-averse buyers exploit dip
June 11th, 2010 by Financial Writer
Gold rose above $1,220 an ounce in Europe on Friday as buyers took advantage of the previous session’s price retreat to buy into the market, with concerns over the economic recovery firmly underpinning prices.
Spot gold was bid at $1,223.55 an ounce at 1434 GMT, against $1,215.80 late in New York on Thursday. U.S. gold futures [...]
Tags: consumers, european economy, money, precious metal, stock market, us consumer, us retail sales, us stocks, wall street
Manufacturing in U.S. Expands Faster Than Forecast
June 1st, 2010 by Financial Writer
Manufacturing in the U.S. expanded in May for a 10th month as factories boosted payrolls to keep up with rising sales here and abroad.
The Institute for Supply Management’s manufacturing gauge fell less than forecast to 59.7 from 60.4 in April, which was the highest level in almost six years. Readings greater than 50 point to [...]
Tags: consumer spending, debt crisis, economic recovery, euro zone, european economy, financial, inventory, stock market, us consumer, us economy, us exporters, us manufactured
European markets lifted by industrial output data
March 12th, 2010 by Financial Writer
European stock markets rose Friday after a strong set of industrial production figures for January stoked hopes that the recovery from recession in the 16 countries that use the euro may be stronger than previously thought.
The FTSE 100 index of leading British shares was up 18.60 points, or 0.3 percent, at 5,635.86 while Germany’s DAX [...]
Tags: economic recovery, european markets, european stock markets, us consumer, wall street
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
US consumer spending up as economy gains steam
December 23rd, 2009 by Financial Writer
US consumer spending rose as Americans enjoyed their biggest income gain in six months in November, government data showed Wednesday in a sign the economy is gaining steam following recession.
The Commerce Department said personal consumption expenditures climbed 0.5 percent in the penultimate month of 2009 fueled by spending on goods as retailers slashed prices to [...]
Tags: economy, recession, us consumer, us economist, us unemployment