News Tag: Commerce Department
March 14, 2010
US retail sales grew unexpectedly in February by 0.3% after economists had predicted a fall of 0.2% due to bad weather, which gripped most of the country during part of the month.
According to the Commerce Department, the rise is the biggest since November, driven by hopes that economic recovery is gaining momentum.
The news resulted in a rise in US stocks but ...
US retail sales surprise in February
by Kay Murchie
March 11, 2010
The Commerce Department today announced a fall in US imports and exports, resulting in an unexpected fall in the trade deficit.
According to official figures, exports in January dipped 0.3% to $142.7 billion, with less machinery, agricultural products and civilian aircraft sold.
Meanwhile, imports slumped 1.7% in the world’s largest economy, to $180 billion, partly due to a severe drop ...
US imports and exports down in January
by Kay Murchie
March 1, 2010
According to the Commerce Department, US consumer spending rose faster than expected in January by 0.5% - the fourth consecutive monthly rise.
The rise in consumer spending, which makes up for more than two-thirds of overall economic activity in the US, was better than expectations of 0.4%.
Meanwhile, the data said personal incomes crept up 0.1% - after a rise of 0.3% ...
US consumer spending up 0.5% in January
by Kay Murchie
February 26, 2010
The Commerce Department today revealed that the world’s no.1 economy grew at a faster rate in the fourth quarter than previous estimates showed.
According to official figures, the US economy grew by an annual 5.9% between the October and December period, rather than the 5.7% previously estimated.
For the whole of 2009, GDP declined at an unrevised 2.4% - this represented the ...
US Q4 economic growth figures revised upwards
by Kay Murchie
February 24, 2010
The Commerce Department has today revealed a fall in sales of new homes in the US for the month of January - the third consecutive month that sales have fallen.
According to the Commerce Department, new single-family home sales dived by 11.2% to a seasonally adjusted annual rate of 306,000 units - the lowest since records commenced in 1963.
The ...
US new home sales in third consecutive monthly fall
by Kay Murchie
February 17, 2010
The Commerce Department has today revealed US housing starts increased for the month of January but building permits were down.
According to the Commerce Department, construction of new US homes rose 2.8% during the month to a seasonally adjusted annual rate of 591,000 properties.
While this represented the highest level in six months, the figures are still far below the ...
US housing starts and industrial production rise
by Kay Murchie
February 14, 2010
The Commerce Department has revealed a better-than-expected 0.5% rise in January retail sales compared with the previous month, suggesting a strong economic recovery.
The figures follow on from the 0.1% fall in December but on an annual basis, sales were up by 4.7%.
Retail sales are closely monitored because consumer spending makes up for more than two-thirds of overall economic ...
US retail sales up 0.5%, consumer confidence down
by Kay Murchie
February 1, 2010
According to the Commerce Department, US consumer spending rose by just 0.2% in December after a 0.7% rise in November.
The rise in consumer spending, which makes up for more than two-thirds of overall economic activity in the US, was slightly under analysts expectations of a 0.3% gain.
For 2009, consumer spending fell 0.4% - the biggest drop since 1938.
Meanwhile, ...
US consumer spending up 0.2% in December
by Kay Murchie
January 29, 2010
The Commerce Department has today revealed that the US economy grew 5.7% in the final three months of 2009 - the fastest pace in six years and higher than analysts expectations.
The US economy emerged from recession in the third quarter after experiencing growth of 2.2% and today’s figures clearly show that after enduring the longest and deepest downturn since the Great ...
US Q4 economy growth beats expectations
by Kay Murchie
January 27, 2010
The Commerce Department has today revealed a fall in sales of new homes in the US for the month of December - the second consecutive month that sales have fallen.
According to the Commerce Department, new single-family home sales dived by 7.6% to a seasonally adjusted annual rate of 342,000 units, down from a revised 370,000 in the previous month.
Meanwhile, a ...
US new home sales in steep fall
by Kay Murchie
January 21, 2010
The Commerce Department has revealed a fall in housing starts for the month of December but building permits rose.
According to the Commerce Department, construction of new US homes fell 4% during the month to a seasonally adjusted annual rate of 557,000 properties. The fall was primarily due to bad weather which hit most of the country.
Meanwhile, applications for ...
US housing starts fall, producer prices up
by Kay Murchie
January 14, 2010
Fears over the strength of the US recovery arose today after the Commerce Department revealed a fall in retail sales in December.
According to the Commerce Department, sales declined by 0.3% in December compared with the previous month, while total sales for 2009 were 6.2% lower compared with 2008.
The figures came as a surprise to economists, who had been expecting ...
US retail sales in unexpected fall in December
by Kay Murchie
January 12, 2010
Figures released by the Commerce Department today revealed a rise in US imports in November, rising to $174.6 billion from $170.2 billion the previous month - a rise of 2.6%.
The surge in imports to the US reflected an increase in demand for industrial materials and consumer goods.
Meanwhile, exports totalled $138.2 billion - a rise of 0.9% on ...
US impresses with gains in imports and exports
by Kay Murchie
December 24, 2009
According to the Commerce Department, US consumer spending rose 0.5% in November after a 0.6% rise in October.
The rise in consumer spending, which makes up for more than two-thirds of overall economic activity in the US, was slightly under analysts expectations of 0.7%.
Analysts had expected a higher jump in spending amid the Thanksgiving holiday and the build up to the ...
US consumer spending up 0.5% in November
by Kay Murchie
December 23, 2009
There were concerns over a recovery in the US housing market today after the Commerce Department revealed a fall in sales of new homes for the month of November.
According to the Commerce Department, new single-family home sales dived by 11.3% to a seasonally adjusted annual rate of 355,000 units, down from a revised 400,000 in the previous month and represented ...
US new home sales fall in November
by Kay Murchie
December 4, 2009
Figures published today by the Labor Department revealed that the US economy lost fewer jobs in November with the unemployment rate falling to 10% from a rate of 10.2% in October.
Figures show that US employers cut the lowest number of jobs during the month since the onset of the recession two years ago.
The world’s largest economy lost only 11,000 jobs ...
US unemployment rate falls in November
by Kay Murchie
November 25, 2009
US consumer spending, which accounts for more than two-thirds of overall economic activity in the US, rose by 0.7% in October compared with September.
The figures from the Commerce Department were more than the 0.5% rise expected by analysts and boosted hopes for a strong recovery.
According to the Commerce Department, consumers increased their spending during the month on both durable manufactured goods, ...
US consumer spending rises in October
by Kay Murchie
November 24, 2009
The Commerce Department today revealed that the world’s no.1 economy grew at a far slower rate in the third quarter than previous estimates showed.
According to official figures, the US economy grew by 2.8% between the July and September period, rather than the 3.5% previously reported.
Today's figures confirm that the economy exited its worst recession for 70 years in the third quarter ...
US economic growth figures revised downwards
by Kay Murchie
November 19, 2009
According to the Commerce Department, construction of new US homes plunged 10.6% in October to an annual rate of 529,000 properties - the lowest level since April.
Analysts had expected the rate to exceed the 600,000 mark.
The decline in construction was led by a fall in demand for both single-family and multi-family occupancies.
Meanwhile, applications for building permits, a barometer ...
US housing starts see unexpected fall in October
by Kay Murchie
November 16, 2009
Figures published by the Commerce Department today have revealed a better-than-expected 1.4% rise in US retail sales for the month of October. Analysts had expected a rise of 0.9%.
The rise follows a revised 1.5% decline in September, and October’s rise was attributed to an increased demand for cars, despite the Government’s ’cash for clunkers’ scheme coming to an end.
Excluding ...
US retail sales up 1.4% in October
by Kay Murchie
