News Tag: US
March 18, 2010
The Labor Department today revealed the world’s largest economy appears to be under no inflationary pressure as consumer prices remained flat in February, as widely expected.
According to the Labor Department, the consumer price index remained unchanged during the month, although prices were 2.1% higher than in February 2009.
Meanwhile, core inflation, which excludes food and energy costs, saw a gain of ...
US consumer prices unchanged in February
by Kay Murchie
March 17, 2010
The US Labor Department has today reported a fall in producer prices of 0.6% in February - the biggest fall since July 2009.
The fall, which was worse than expected, was attributed to a 2.9% decline in energy costs.
Compared to February 2009, producer prices grew 4.4%, but they slowed from a 4.6% annualised rise in January and was slightly below ...
US producer prices in February fall
by Kay Murchie
March 16, 2010
The Commerce Department has today revealed US housing starts fell during the month of February, while building permits were also down.
Both declines were attributed to the severe wintry weather that gripped parts of the US during the month.
According to the Commerce Department, construction of new US homes fell 5.9% during the month to a seasonally adjusted ...
US housing starts and building permits fall in Feb
by Kay Murchie
Fed widely expected to leave interest rates on hold today
by Kay Murchie
March 15, 2010
Figures published by the Federal Reserve today revealed a marginal rise in US industrial production in February.
According to the US central bank, industrial output rose by just 0.1% in the month and followed a 0.9% increase in January.
However, the small rise was better than the zero percent that analysts had forecast after severe snowstorms swept most of the country during ...
US industrial output edges up in February
by Kay Murchie
UK and US credit ratings safe for now
by Kay Murchie
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 7, 2010
The Federal Reserve has announced borrowing by American consumers grew for the first time in a year in January.
According to the central bank, consumer credit rose 2.4% or $5 billion (£3.3 billion) compared with the previous month to a total of $2.45 trillion.
It was the first increase after a record 11 months of declines and represented ...
US consumer borrowing rises for first time in a year
by Kay Murchie
March 5, 2010
The Labor Department has today revealed the US unemployment rate remained unchanged at 9.7% in February and lower than the 10% rate reported in December.
According to the Labor Department, employers cut 36,000 jobs last month - fewer than the 50,000 analysts had been expecting and compares to a revised 26,000 job cuts in January.
In the meantime, since the onset ...
US unemployment rate holds steady at 9.7%
by Kay Murchie
March 4, 2010
The latest publication of the US Federal Reserve’s influential Beige Book reported that the world’s largest economy has continued to grow this year but at a "modest" pace.
The Beige Book, which is compiled eight times a year, is based on reports and comments from businesses throughout the US.
It said despite a pick up in consumer spending, severe snowfall in ...
US Fed’s influential Beige Book sees modest growth
by Kay Murchie
March 2, 2010
The Rics European Housing Review 2010 has revealed a mixed bag for European house prices.
The Royal Institution of Chartered Surveyors (Rics) found that only five countries reported growth in house prices - with the UK being one of them - rising by 1% in 2009.
Norway led the way with a 12% gain during 2009, while Finland, Sweden and ...
Handful of countries see house price growth in 2009
by Kay Murchie
Buffett confident of US housing market recovery
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 25, 2010
The controversial subject of bankers’ pay has reared its ugly head again today after the chairman of US banking giant, Morgan Stanley, John Mack, said investment bankers are overpaid.
Sixty-five-year-old Mack, who recently stepped down as chief executive but remained chairman, has not taken a bonus for the past three years but received a salary of $800,000 last year.
Mr Mack, ...
Morgan Stanley chairman says bankers are overpaid
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
Federal Reserve chairman pledges low interest rates for long-term
by Kay Murchie
February 23, 2010
US consumer confidence took a dive in February after the closely-monitored Consumer Confidence Index from the Conference Board fell to a 10-month low of 46, down from a revised 56.5 in January.
The index still remains far away from the 90 points required to show that the world’s largest economy is on solid footing.
Furthermore, the reading is still below the ...
US consumer confidence tumbles in February
by Kay Murchie
Car production surges in South Korea
by Kay Murchie
