Browsing: Economy

Economy

Employers announced plans to cut 58,877 jobs in September, according to a report issued by Challenger, Gray & Christmas. September’s announced cuts marked a 43 percent increase from the cuts announced in August and was the third largest of the year. More than half of September’s cuts came from the computer industry, which announced plans

Economy

According to the ADP National Employment Report, the non-farm private sector added 200,000 jobs in September, up from 186,000 in August. The goods-producing sector saw slightly slower job growth for the month, while the service-providing sector posted stronger gains. “The U.S. job machine continues to produce jobs at a strong and consistent pace,” said Mark

Economy

Consumer confidence increased in September, rising 1.7 percent to 103.0 points according to The Conference Board’s Consumer Confidence Index. The Present Situation Index – a measure of respondents’ appraisal of current business and employment conditions, grew 5.3 points to 121.1, an eight year high, while the Expectations Index – a measure of business employment and

Economy

The 20-City Case-Shiller Composite gained 5.0 percent year-over-year in July, consistent with June’s gain. The 10-City Composite gained 4.5 percent from the previous year, down from a 4.6 percent annual increase last month. The National Index posted a 4.7 percent year-over-year increase, compared to a 4.5 percent increase in June. Fourteen cities in the 20-City

Economy

Personal income increased $52.5 billion, or 0.3 percent, in August, according to the Bureau of Economic Analysis, down from a 0.5 percent increase in July. Personal consumption expenditures (PCE) increased $54.9 billion, or 0.4 percent, the same pace as in July. Disposable personal income – personal income less taxes – increased 0.4 percent after gaining

Economy

Consumer confidence fell to 87.2 in August, down 4.7 points from the previous month according to the University of Michigan Consumer Sentiment Index. Despite being at the lowest level in 11 months, August’s reading was still higher than in any month prior to May 2007. “A raft of recent events have been viewed as negative

Economy

Federal Reserve Chairman Janet Yellen said yesterday that she still expects economic conditions will warrant an interest rate hike “sometime later this year,” followed by a “a gradual pace” of increases.

Economy

Real GDP for the second quarter grew at an annual rate of 3.9 percent according to the Bureau of Economic Analysis’s third estimate. This is an upward revision from the second estimate of 3.7 percent growth from the quarter, and well above the first quarter’s rate of 0.6 percent. The quarter’s acceleration in growth reflected

Economy

Sales of new single-family homes rose in August to a seasonally adjusted annual rate of 552,000 according to the U.S. Census Bureau and Department of Housing and Urban Development. The August rate is 5.7 percent above the upwardly revised July rate of 522,000 and 21.6 percent above the year-ago rate of 454,000. New home sales

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