June 15, 2009 |
Reports on manufacturing and housing this week will probably show that the U.S. economy in May, although still in a recession, took additional steps toward establishing a recovery this year, economists said. A 1% drop in industrial production last month, based on the median of 68 estimates in a Bloomberg News survey, mainly was due to auto-industry shutdowns that swamped gains elsewhere, analysts said.
October 21, 2008 |
The economy's health improved for the first time in five months in September as supplier deliveries and new orders strengthened, a private research group said Monday. The New York-based Conference Board said its monthly forecast of future economic activity rose 0.3%, a better reading than the 0.2% drop expected by Wall Street economists who were surveyed by Thomson/IFR. The index had fallen a revised 0.9% in August and 0.7% in July.
August 22, 2008 |
A private-sector measure of the economy's health showed the largest drop in a year, and although new jobless benefit claims fell for the second straight week, they remain near the highest levels since 2002. The reports are the latest evidence that the languishing U.S. economy remains stuck in low gear. The New York-based Conference Board said Thursday that its monthly forecast of future economic activity fell 0.7% in July, far more than the consensus estimate of a 0.2% decline by Wall Street economists surveyed by Thomson Reuters.
June 21, 2008 |
California's moribund construction and real estate industries helped push the state unemployment rate to 6.8% in May, its highest level in nearly five years. The state Employment Development Department reported Friday that joblessness in May rose six-tenths of a percentage point from the previous month and was a dramatic 1.5 percentage points higher than in May 2007. And the outlook is likely to get worse for California -- at least for the rest of the year, experts said.
June 20, 2008 |
A private business group says its index of leading economic indicators inched higher for the second month in another sign that higher fuel and food prices, tighter credit and a depressed housing market are stifling the economy. Separately, the number of newly laid-off workers filing for unemployment benefits remained at worrisomely high levels despite dropping slightly last week. The New York-based Conference Board said Thursday that its gauge of economic indicators rose 0.
June 10, 2008 |
Pending home sales unexpectedly increased in April to the highest reading since October, an industry group said Monday, but they remain more than 13% below the year-earlier period. The National Assn. of Realtors' seasonally adjusted index of pending sales for existing homes rose to 88.2 from a March reading of 83, the lowest since the index was started in 2001. The index stood at 101.5 in April 2007. Wall Street economists polled by Thomson/IFR had predicted that the index would remain steady at 83. A reading of 100 is equal to the average level of sales activity in 2001.