Tag: Commerce Department

US consumer spending up in September

US consumer spending up in September

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 (A?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 […]

October 29, 2011 More
US economic growth revised upwards for Q2

US economic growth revised upwards for Q2

The Commerce Department has revealed the worlda��s largest economy grew by 1.3% on an annual basis in the April to June period a�� higher than an initial estimate of 1%. The figure was also slightly higher than analystsa�� expectations of 1.2% and follows a 0.4% growth rate in the first quarter of the year. The […]

September 30, 2011 More
US new home sales fall in August

US new home sales fall in August

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 a�� the lowest level since February. The figure […]

September 27, 2011 More
US exports surge, Obama unveils jobs plan

US exports surge, Obama unveils jobs plan

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 (A?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, […]

September 9, 2011 More
UK Q2 economic growth figures unchanged, US revised down

UK Q2 economic growth figures unchanged, US revised down

The Office for National Statistics (ONS) has revealed the UK economy grew by 0.2% in the April to June period a�� 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. […]

August 30, 2011 More
US consumer spending down in June

US consumer spending down in June

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 a�� the first fall in almost two years a�� suggesting the economic recovery is losing momentum. Furthermore, the figures confounded analystsa�� expectations for a 0.1% increase. Consumer spending is […]

August 2, 2011 More
US economic growth slower in Q2

US economic growth slower in Q2

The Commerce Department has today revealed the worlda��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, todaya��s reading is the first estimate and could be revised up or down in the coming months. Meanwhile, first […]

July 29, 2011 More
US trade deficit widens as oil imports surge

US trade deficit widens as oil imports surge

The US trade deficit swelled in May to $50.2 billion (A?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 […]

July 13, 2011 More
US consumer spending unchanged in May

US consumer spending unchanged in May

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 […]

June 27, 2011 More
US Q1 economic growth figures revised upwards

US Q1 economic growth figures revised upwards

The Commerce Department has today revealed the US economy grew by an annualised 1.9% in the January to March period a�� marginally higher than the previous estimate of 1.8%. On a quarterly basis, growth was up 0.58%. Todaya��s reading is the third and final for first quarter growth. Stubbornly high unemployment and a depressed housing […]

June 24, 2011 More
US new home sales fall in May

US new home sales fall in May

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, […]

June 23, 2011 More
US retail sales fall in May

US retail sales fall in May

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, […]

June 14, 2011 More
US trade deficit narrows in April

US trade deficit narrows in April

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 Marcha��s figure of $46.8 billion a�� surprising analysts who had expected a rise to $48.7 billion. Exports rose 1.3% on a monthly basis to […]

June 9, 2011 More
US consumer spending up in April

US consumer spending up in April

The Commerce Department has today reported a rise in consumer spending in the US for the month of April a�� due, in part, to higher food and energy costs. Spending grew 0.4% on the month a�� the tenth consecutive monthly increase but the figure was less than analysts had expected. Consumer spending is closely monitored […]

May 27, 2011 More
US Q1 economic growth figures remain unchanged

US Q1 economic growth figures remain unchanged

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 analystsa�� expectations of a 2.1% growth rate. However, todaya��s estimate is only the second reading and the third and final reading will be available next month and could […]

May 26, 2011 More
US new home sales rise for second consecutive month

US new home sales rise for second consecutive month

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. […]

May 24, 2011 More
US housing starts dive in April

US housing starts dive in April

The Commerce Department has today revealed US housing starts slumped in April a�� 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 […]

May 17, 2011 More
US consumer spending up in February

US consumer spending up in February

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. Februarya��s figure represented the fastest pace for four months but this was attributed to […]

March 28, 2011 More
US Q4 economic growth figures revised upwards

US Q4 economic growth figures revised upwards

The Commerce Department has today revealed the US economy grew by an annualised 3.1% in the October to December period a�� 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 […]

March 25, 2011 More
US new home sales fall to record low

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, […]

March 23, 2011 More