January 30, 2014 |
WASHINGTON - U.S. consumer spending ended last year with a flourish, lifting overall economic growth and renewing hopes that the recovery will hit its stride this year and boost employment and incomes. The economy expanded at a solid 3.2% annual rate in the fourth quarter, the government estimated Thursday. Figures showed that people ate out more and bought more cars, clothes and other goods and services. Rising exports and a rebound in business spending for equipment also helped.
January 28, 2014 |
President Obama will stand before members of Congress and a national television audience tonight to deliver his sixth annual State of the Union address. It's pretty safe to assume it will include the following: Paeans to the American dream, from the particular vantage of the middle class. Support for energy independence, education and changes in immigration laws. A short nod to international affairs, the winding down of wars abroad and the continued pursuit of terrorists. A laundry list of desires that the president knows will probably never see the light of day, even if all sides genuflect to the everyday Americans arrayed in the House chamber as witnesses, a theatrical touch of guilt-mongering employed since the era of President Reagan.
CALIFORNIA | LOCAL
January 25, 2014 |
Bolstered by an improving economy, Los Angeles International Airport handled more than 17.8 million foreign travelers in 2013, a record for the West Coast gateway that struggled for years to recover that portion of its market. The previous peak for the nation's third-busiest airport was about 17.5 million international passengers in 2005, but a global economic slowdown triggered a steep decline in air travel and hampered further growth. Gina Marie Lindsey, executive director of Los Angeles World Airports, the operator of LAX that announced the passenger figures, attributed the record to an improving worldwide economy, especially in Asia, and a modest strengthening of the Southern California economy.
January 21, 2014 |
WASHINGTON -- The global economy is gaining momentum and should post its best growth in three years, thanks largely to a strengthening U.S. economy, says the International Monetary Fund. Joining others such as the World Bank that have recently upgraded forecasts for global growth, the IMF's latest outlook, issued Tuesday, projects the U.S. economy expanding at a healthy 2.8% rate this year. That's up from an estimated 1.9% growth pace in 2013 and 0.2 percentage point higher than its last forecast in October.
January 20, 2014 |
The big winner in this year's Hollywood awards season: the local economy. Hundreds of millions of dollars are funneled into hotels, restaurants and limousine companies as Los Angeles hosts the Golden Globes, the Screen Actors Guild Awards, the Academy Awards and related events. The money pumped into the Southern California economy comes at a welcome time. The awards season that stretches from January to March falls within a typically slow period for tourism around the country.
January 19, 2014 |
The stock market has hit sky-scraping highs, the unemployment rate has dipped to a five-year low and any number of economic statistics - new car sales, home prices, consumer spending - point to a perked-up economy that is steadily growing. But one thing that has changed little is President Obama's job approval rating, which tumbled over the last year to the anemic 40% range and remains stuck near the low point of his administration. The chasm is striking, and a worrisome thing for Democrats already facing a tough election year.
January 18, 2014 |
The stock market shined last year with an epic rally. Now it's time for corporate America - and the economy - to catch up. Stocks ballooned 30% last year, as measured by the Standard & Poor's 500 index. But the average company in the broad index only increased annual earnings - the key driver of stock values - an estimated 5.2% as the economy grew sluggishly. For stocks to maintain their gains, market observers say, American companies will need to eke out solid, if not better, earnings growth this year.
January 15, 2014 |
RALEIGH, N.C. - Saying he sees possible “breakthrough” year for the U.S. economy, President Obama on Wednesday touted a new manufacturing technology institute in the Research Triangle, an election-year attempt to show he can advance his agenda without his Republican opponents in Congress. “Today, I'm here to act,” Obama told students at North Carolina State University, the leading partner behind the new innovation initiative. The goal, he said, was “to help make Raleigh-Durham and America a magnet for the good high-tech manufacturing jobs that a growing middle class requires and that are going to continue to keep this country on the cutting edge.” The consortium, a public-private partnership involving 18 companies, will focus on developing semiconductor technology used in energy-efficient products.
January 15, 2014 |
WASHINGTON -- The global economy is at a turning point this year as it shows signs of strengthening, with the U.S. and other developed countries expected to see stronger growth, the World Bank said. "Most of the acceleration is expected to come from high-income countries, as the drag on growth from fiscal consolidation and policy uncertainty eases and private sector recoveries gain firmer footing," the organization said in its latest Global Economic Prospects report, released Tuesday.