Summary Box: Economic recovery in progress after recession eased in spring; bumpy road aheadSeptember 30th, 2009 Summary Box: Economic recovery looks bumpyTHE WAY WE WERE: The economy contracted at a pace of 0.7 percent in the second quarter, a vast improvement from the first three months of this year, when the economy shrank at a pace of 6.4 percent, the biggest downhill slide in nearly three decades. THE RECOVERY PHASE: Many analysts predict the economy returned to growth in the just-ended third quarter at a pace of at least 3 percent.
Summary Box: Bumpy recovery expected as 2 economic reports come in lower than expectedSeptember 25th, 2009 Summary Box: Durable goods, homes data disappointDISAPPOINTING REPORTS: Orders for autos, appliances and other goods that are expected to last at least three years dropped 2.4 percent in August, defying economists' estimates of a 0.5 percent gain. Sales of new homes inched up 0.7 percent, also less than forecast.
Summary Box: Housing starts, jobless claims reports signal fragile recoverySeptember 17th, 2009 Summary Box: Mixed reports on housing and jobsGOOD NEWS: Housing construction rose in August, while fewer laid-off workers sought jobless aid last week, more evidence that the recession is over. BAD NEWS: The housing gain was due solely to an increase in apartment-house building, while construction in the much-larger single-family-home segment fell for the first time in six months.
Summary Box: Retail sales jump in August, but increase may be temporarySeptember 15th, 2009 Summary Box: Retail sales jump in AugustSPENDING REBOUNDS: The Commerce Department said retail sales rose 2.7 percent in August, the most in more than three years. A spike in auto sales, spurred by the Cash for Clunkers program, and higher gas prices drove the increase.
Summary Box: Improving economy lifts imports, exports and trade deficitSeptember 10th, 2009 Summary Box: Improving economy ups trade deficitWHAT HAPPENED?: The trade deficit rose to $32 billion in July, the highest in six months. Imports jumped 4.7 percent, the largest monthly increase on records dating from 1992.
Summary Box: Unemployment rate jumps to 26-year high, though job cuts slowSeptember 4th, 2009 Summary Box: Unemployment reaches 26-year highTHE BAD NEWS: The jobless rate jumped to 9.7 percent in August, the Labor Department said Friday, from 9.4 percent in July. That's the highest rate since June 1983.
Summary Box: Bernanke sees economy nearing a recovery, but financial problems persistAugust 21st, 2009 Summary Box: Bernanke sees economy near recoveryWHAT HAPPENED?: Federal Reserve Chairman Ben Bernanke offered his most optimistic view on the economy since the financial crisis struck. He said there's a good chance the economy will start growing again soon.
Summary Box: Weak job market could dampen consumer spending and hamper recoveryAugust 21st, 2009 Summary Box: Jobless claims bad sign for recoveryWHAT HAPPENED?: New jobless claims rose for the second straight week, disappointing analysts who were expecting a drop. At the same time, an index of leading economic indicators and a regional manufacturing index rose, providing more evidence that the economy may be recovering.
Summary Box: Layoffs drive foreclosures to new record in 2nd quarterAugust 20th, 2009 Summary Box: Foreclosures hit new recordWHAT HAPPENED?: A quarterly report released Thursday by the Mortgage Bankers Association found that more than 13 percent of American homeowners with a mortgage have fallen behind on their payments or are in foreclosure. WHAT DOES IT MEAN?: It's another new record, and an indication that the foreclosure crisis is still getting worse as layoffs continue to soar.
Summary Box: Fed faces economic and political pressures in reeling in emergency aidAugust 20th, 2009 Summary Box: Fed faces hard task in reeling in aidTHE CHALLENGE: The Federal Reserve eventually will have to dismantle emergency programs and reel in the trillions of dollars it's plowed into the economy to try to revive business activity, unlock lending and stabilize financial markets. WHAT'S AT STAKE: Timing is vital.
Summary Box: Consumer prices down over past year by biggest amount in nearly 6 decadesAugust 14th, 2009 Summary Box: Consumer inflation a no-show in JulyWHAT HAPPENED?: Consumer prices were unchanged in July, and over the past 12 months they have fallen 2.1 percent — the sharpest annual decline since a similar drop in the period ending in January 1950. WHAT DOES IT MEAN?: The recession and falling energy prices made inflation nonexistent — welcome news for consumers struggling with high unemployment, diminished savings and falling home values.
Summary Box: Retail sales drop unexpectedly as consumers keep wallets closedAugust 13th, 2009 Summary Box: Unexpected drop in retail salesWHAT HAPPENED?: Retail sales fell unexpectedly in July, while first-time claims for jobless benefits rose slightly last week. The reports raised concerns about the ability of consumers to fuel a broad economic recovery.
Summary Box: Jobless claims drop in positive sign for economyAugust 6th, 2009 Summary Box: Jobless claims drop as layoffs slowWHAT HAPPENED: The government said Thursday that initial jobless claims fell to 550,000 last week from 588,000 the previous week. While still high, new claims have dropped by about 50,000 in the past month.
Summary Box: Layoffs slow, but jobless rate rises to 9.4 percent and will move higherJune 6th, 2009 Summary Box: Layoffs slow as recession easesJOB CUTS SLOW: Employers cut 345,000 jobs last month, the fewest since September and the fourth straight month that the pace of layoffs slowed. UNEMPLOYMENT RATE RISES: The jobless rate rose to 9.4 percent, from 8.9 percent in April.
Russian central bank cuts interest rates by 1/2 percentage pointJune 4th, 2009 Russian central bank cuts interest ratesMOSCOW — Russia's Central Bank on Thursday cut its key interest rate by half a percentage point to 11.5 percent — the third time since April it has slashed borrowing costs to help its economy through recession. The bank said in a statement that the new refinancing rate will be effective Friday.
Loading ...