Category Archives: Uncategorized

“Fiscal cliff” could cause U.S. recession

(Reuters) – A stalemate over how to tackle a series of fiscal deadlines at year’s end would likely push the United States economy into recession in the first half of next year, the Congressional Budget Office warned on Tuesday. A wave of U.S. tax hikes and automatic spending cuts – dubbed the “fiscal cliff” –…

US jobless data suggests slowdown in job creation

WASHINGTON, April 19 (Reuters) – The number of Americans claiming unemployment benefits for the first time fell only slightly last week, suggesting that job growth in April will not improve much after March’s disappointing performance. Other data on Thursday showed factory activity in the Mid-Atlantic region slowed sharply this month and home resales dropped for…

Gov’t sees gasoline prices peaking in May at average $4.01

U.S. drivers will pay an average of 24 cents more per gallon for gasoline during this summer’s travel season, the government said Tuesday. Gasoline will cost an average of $3.95 per gallon from April through September, an increase of 6.3 percent from the same period last year, the Energy Information Administration predicted. The peak should…

Lenders Again Dealing Credit to Risky Clients

Annette Alejandro just emerged from bankruptcy and doesn’t have a job, and her car was repossessed last year. Still, after spending her days job hunting, she returns to her apartment in Brooklyn where, in disbelief, she sorts through the piles of credit card and auto loan offers that have come in the mail. “Even I wouldn’t make…

Apartment vacancy rate falls to decade low

The Apartment vacancy rate in the first quarter fell to its lowest level in more than a decade, and rents posted their biggest jump in four years, as Americans eschewed home ownership and renting retained its popularity, according to real estate research firm Reis Inc. The national vacancy rate fell 0.30 percentage points in the…

Economists offer more pessimistic view on manufacturing in upcoming report

During the 2000s, as U.S. manufacturing was transformed by devastating job losses, prominent economists and presidential advisers offered comforting words. The paring of the manufacturing workforce, which shrank by a third over the decade, actually represented good news, they said. It meant that U.S. workers and factories had become more efficient and that, as a result, manufacturing companies…

China Adds Treasuries For First Time Since July on Europe Woes

China, the largest foreign U.S. creditor, increased its holdings of U.S. government securities in January for the first time in six months as European leaders struggled to contain the region’s sovereign-debt crisis. Holdings rose by 0.7 percent to $1.16 trillion, the first growth in China’s stake since July, Treasury data released yesterday show. The report also showed…

In A Signal Of Growth, Companies Build Stockpiles

U.S. companies restocked at a faster pace in January, a sign that businesses expect stronger job growth to fuel more sales. The Commerce Department said Tuesday that business stockpiles rose 0.7 percent in January after a 0.6 percent gain in December. Sales increased 0.4 percent January following a 0.9 percent December sales gain. The increase…

Consumer spending up despite higher gas prices

Americans might complain about higher gasoline prices, but new government data show that hasn’t stopped them from driving to the mall. Retail sales jumped 1.1 percent in February, the biggest monthly increase since last fall, the Commerce Department reported Tuesday. Consumers went shopping for new cars, clothes, electronics and sporting goods despite spending 3.3 percent more…

Oil rises above $107 amid improving US economy

Oil prices rose above $107 a barrel Tuesday in Asia as traders bet an improving U.S. economy will boost demand at a time when the ability to increase crude production is limited. Benchmark oil for April delivery was up 68 cents to $107.02 at midday Singapore time in electronic trading on the New York Mercantile…

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