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News Tag: Commerce Department

October 29, 2011

US consumer spending up in September

by Kay Mitchell
”US
Official figures have revealed consumer spending in the US improved last month. According to the Commerce Department, consumer spending rose 0.6% to $68.7 billion (£42.7 billion) in September and follows a 0.2% rise in August. The figures will be a welcome boost for the economy which looked set to be heading towards a double dip recession just a few weeks ago. Consumer spending ...




September 30, 2011

US economic growth revised upwards for Q2

by Kay Mitchell
”US
The Commerce Department has revealed the world’s largest economy grew by 1.3% on an annual basis in the April to June period – higher than an initial estimate of 1%. The figure was also slightly higher than analysts’ expectations of 1.2% and follows a 0.4% growth rate in the first quarter of the year. The upward revision was attributed to higher ...




September 27, 2011

US new home sales fall in August

by Kay Mitchell
”US
The Commerce Department has revealed sales of new homes in the US fell to a six-month low in August, suggesting the housing market remains depressed. According to the Commerce Department, new single-family home sales fell 2.3% in August to a seasonally adjusted annual rate of 295,000 units – the lowest level since February. The figure is now less than half the 700,000 ...




September 9, 2011

US exports surge, Obama unveils jobs plan

by Kay Mitchell
”US
The Commerce Department has revealed US exports hit an all-time high in July, while imports fell. According to official figures, exports surged 3.8% to $178 billion (£111 billion) after two months of declines. The rise in exports was attributed to strong overseas sales of manufactured goods, particularly to countries in Central and South America. Meanwhile, imports fell 0.2% to $222.8 billion – attributed ...




August 30, 2011

UK Q2 economic growth figures unchanged, US revised down

by Kay Mitchell
”UK
The Office for National Statistics (ONS) has revealed the UK economy grew by 0.2% in the April to June period – unchanged from a previous estimate published last month. A third and final estimate will be available next month. However, growth for the second quarter slowed from the 0.5% growth posted in the first quarter. On an annual basis, meanwhile, there ...




August 2, 2011

US consumer spending down in June

by Kay Mitchell
”US
The Commerce Department has today reported an unexpected fall in consumer spending in the US for the month of June. Spending fell 0.2% on the month – the first fall in almost two years – suggesting the economic recovery is losing momentum. Furthermore, the figures confounded analysts’ expectations for a 0.1% increase. Consumer spending is closely monitored as it accounts for approximately 70% ...




July 29, 2011

US economic growth slower in Q2

by Kay Mitchell
”US
The Commerce Department has today revealed the world’s largest economy grew by 1.3% on an annual basis in the April to June period. The figure was far short of expectations of a reading of 1.8%. However, today’s reading is the first estimate and could be revised up or down in the coming months. Meanwhile, first quarter growth was sharply revised downwards to ...




July 13, 2011

US trade deficit widens as oil imports surge

by Kay Mitchell
”US
The US trade deficit swelled in May to $50.2 billion (£31.7 billion) from $43.6 billion the previous month, as oil imports surged. According to the Commerce Department, the trade deficit rose to the highest level since October 2008. Exports fell by 0.5% on a monthly basis to $174.9 billion, while imports rose by 2.6% on the month to $225.1 billion – ...




June 27, 2011

US consumer spending unchanged in May

by Kay Mitchell
”US
The Commerce Department has today reported consumer spending in the US was flat in May. This was the first month since September 2009 that there was no growth, surprising analysts who had expected a 0.1% rise. Consumer spending is closely monitored as it accounts for approximately 70% of total economic output. However, many analysts said consumers have been squeezed due to higher petrol prices. ...




June 24, 2011

US Q1 economic growth figures revised upwards

by Kay Mitchell
”US
The Commerce Department has today revealed the US economy grew by an annualised 1.9% in the January to March period – marginally higher than the previous estimate of 1.8%. On a quarterly basis, growth was up 0.58%. Today’s reading is the third and final for first quarter growth. Stubbornly high unemployment and a depressed housing market are impacting negatively on the world’s ...




June 23, 2011

US new home sales fall in May

by Kay Mitchell
”US
The Commerce Department has today revealed sales of new homes in the US fell, suggesting the housing market remains depressed. According to the Commerce Department, new single-family home sales fell by 2.1% in May on a monthly basis to an annual rate of 319,000 units, after two consecutive months of gains. However, despite the fall, new home sales are above levels recorded ...




June 14, 2011

US retail sales fall in May

by Kay Mitchell
”US
The Commerce Department has today revealed US retail sales fell in May for the first time in 11 months, hit by weak car sales. According to official figures, sales fell 0.2% to $387.1 billion on a monthly basis as consumers opted out of buying big-ticket items such as cars. Car sales were almost 3% lower, hit by supply issues due to the earthquake ...




June 9, 2011

US trade deficit narrows in April

by Kay Mitchell
”US
The US trade deficit narrowed sharply in April, figures showed today, due to a record increase in exports. According to the Commerce Department, the trade deficit narrowed to $43.7 billion from March’s figure of $46.8 billion – surprising analysts who had expected a rise to $48.7 billion. Exports rose 1.3% on a monthly basis to a high of $175.6 billion, while imports fell ...




May 27, 2011

US consumer spending up in April

by Kay Mitchell
”US
The Commerce Department has today reported a rise in consumer spending in the US for the month of April – due, in part, to higher food and energy costs. Spending grew 0.4% on the month – the tenth consecutive monthly increase but the figure was less than analysts had expected. Consumer spending is closely monitored as it accounts for approximately 70% of total ...




May 26, 2011

US Q1 economic growth figures remain unchanged

by Kay Mitchell
”US
The Commerce Department has today revealed the US economy grew by an annualised 1.8% in the first quarter - unchanged from the first estimate and less than analysts’ expectations of a 2.1% growth rate. However, today’s estimate is only the second reading and the third and final reading will be available next month and could be revised up or down. The unrevised ...




May 24, 2011

US new home sales rise for second consecutive month

by Kay Mitchell
”US
The Commerce Department has today revealed sales of new homes in the US rose for a second consecutive month in April, after diving to a record low in February. According to the Commerce Department, new single-family home sales grew 7.3% on the month to an annual rate of 323,000 units, better than analysts had forecast. However, sales are still 23% ...




May 17, 2011

US housing starts dive in April

by Kay Mitchell
US housing starts dive in April
The Commerce Department has today revealed US housing starts slumped in April – much worse than forecast. Housing starts dived 10.6% in the month to a seasonally adjusted annual rate of 523,000 units, analysts had expected an annual rate of 563,000. In the meantime, applications for building permits, a barometer of future home construction, also fell, by 4%, to annual rate of 551,000 ...




March 28, 2011

US consumer spending up in February

by Kay Mitchell
”US
The Commerce Department has today reported a rise in consumer spending in the US for the month of February - due, in part, to higher food and energy costs. Spending grew 0.7% in the month after a 0.3% increase in January. February’s figure represented the fastest pace for four months but this was attributed to households paying more for energy bills. Consumer spending ...




March 25, 2011

US Q4 economic growth figures revised upwards

by Kay Mitchell
”US
The Commerce Department has today revealed the US economy grew by an annualised 3.1% in the October to December period – higher than the previous estimate of 2.8%. It was also slightly better than analysts forecast of a 3% growth rate. The upward revision in GDP was attributed to higher consumer spending - which grew at an annual rate of 4% ...




March 23, 2011

US new home sales fall to record low

by Kay Mitchell
US new home sales fall to record low
The Commerce Department has today revealed sales of new homes in the US dived to a record low last month. According to the Commerce Department, new single-family home sales plunged 16.9% to an annual rate of 250,000 units - the lowest since records began in 1963. Analysts had expected a rate of 290,000 units. However, despite the fall, analysts are ...