Archive for: February, 2011

U.S. GDP Revised Downward for Fourth Quarter

The United States’ economy grew slower than previously thought, said the Commerce Department on Friday. The advance estimate of the real gross domestic product – the overall measure of economic output of  the United States – was 3.2 percent....

 

Declining home prices offset rise in sales

Existing home sales increased last month, but declining prices and a high percentage of distressed sales indicate that the housing market faces a long road to recovery. The National Association of Realtors reported Feb. 23 that existing home...

 

Changes in Building Permit Codes Affected LEI Numbers

The number for January’s Index of Leading Economic Indicator (LEI) came out yesterday and they show that the U.S. is still increasing by 0.1 percent. For some this may look like bad news since the number was a decrease and much lower than...

 

Consumers Feel the Pinch as Economists Breath Sigh of Relief

Consumers are feeling the pinch as the rising cost of energy helped push up consumer prices in the United States last month, according to government statistics released on Thursday; easing the fears of many economists of a possible decline in...

 

Retail Sales Slip Following Holiday Season

Retail sales fell in January, as a slow job market and rising gas prices kept consumers out of stores following the holiday season. The advanced estimates for the United States retail and food service sales for January were $381.6 billion, an...

 

Jump in Producer Prices Raises Inflation Questions

Wholesale prices increased by 0.8 percent in January, exceeding some forecasters’ predictions. But economists said it’s too soon to sound the alarm on rising inflation, mostly because the overall economic recovery still remains weak. The...

 

U.S. Trade Deficit Widened in December

The U.S. trade deficit widened by 6 percent in December, adding up to a record-high annual trade gap with China. The trade gap with China lessened by 19.1 percent in December to $20.7 billion. But the total annual deficit last year added up...

 

New Jobless Claims Drop Below 400,000

Initial jobless claims fell last week to the lowest level since July 2008. In the week that ended on February 5th, new applications for unemployment insurance totaled 383,000, a decrease of 36,000 from the previous week’s 419,000, according...