Stocks slip after mixed personal income and spending data, disappointing weekly job claimsOctober 1st, 2009 Stocks open lower after jobs, income dataNEW YORK — Stocks retreated in early trading Thursday after two government reports suggested the economy is still poised for a slow recovery. The Labor Department said new claims for jobless benefits rose more than expected to 551,000, evidence that the labor market is struggling and that jobs remain scarce.
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: Industrial production grows more than expected, inflation remains in checkSeptember 16th, 2009 Summary Box: Industrial production rose last monthMORE GROWTH, NO INFLATION: Government data show the nation's factories, mines and utilities boosted production for the second straight month in August, the latest sign of an economic recovery. At the same time, inflation remains in check.
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.
OECD says economies to rebound earlier than predicted, though recovery remains fragileSeptember 3rd, 2009 OECD predicts earlier recovery than forecastPARIS — The world economy is headed for an earlier recovery than previously forecast, although the pace of the rebound will likely remain modest for some time to come, the OECD said Thursday. The Paris-based watchdog of industrialized nations said recessions this year in Japan and the euro zone will be less severe than the organization forecast in June, while the outlook for the U.S.
Obama: Manufacturing growth an important sign of recovering economySeptember 1st, 2009 Obama: Manufacturing growth a good signWASHINGTON — President Barack Obama says a promising report on the state of U.S. manufacturing is a sign that the hurting economy is moving in the right direction.
Stocks begin September slightly higher as investors await data on manufacturing, housingSeptember 1st, 2009 Stocks creep higher ahead of manufacturing dataNEW YORK — Stocks edged higher Tuesday ahead of reports on manufacturing and housing. The slight gains follow declines in European shares and a modest rebound in Asian markets.
Summary Box: Manufacturing, housing data boost recovery hopes, consumers are the keySeptember 1st, 2009 Summary Box: Manufacturing, housing data improveMANUFACTURING GROWTH: The Institute for Supply Management's manufacturing index showed growth in the sector in August for the first time in 19 months, posting the highest number since June 2007. New customer orders jumped to a level not seen since December 2004.
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: 17 states report lower unemployment rates; 26 see increasesAugust 21st, 2009 Summary Box: 17 states see lower jobless ratesWHAT HAPPENED: Seventeen states saw their unemployment rates decline in July, while 26 reported increases. Though joblessness is still widespread, that's an improvement from June, when only five saw a drop.
IEA says global oil demand to rebound strongly in 2010 after 2-year dropJuly 10th, 2009 IEA forecasts strong rebound in oil demandPARIS — Global oil demand will rebound 1.7 percent next year as recovery in developing countries helps counter a two-year drop in oil usage sparked by the global recession, the International Energy Agency said Friday. The Paris-based agency predicted Friday in its closely watched monthly survey that global oil demand will increase by 1.4 million barrels a day in 2010 to 85.2 million barrels a day.
UK manufacturing output falls 1.2 percent in March-May quarter, dampens hopes of recoveryJuly 7th, 2009 UK mfg output down 1.2 percent in quarterLONDON — The government is reporting that U.K. manufacturing output fell by 1.2 percent in the March-May quarter compared to the previous three months.
Canada's finance minister predicts unemployment to rise into 2010 despite economic recoveryJuly 3rd, 2009 Canada finance minister says unemployment to riseTORONTO — Canada's finance minister said Friday that the country's economic recovery will likely be modest and job losses will mount into 2010 even after growth has begun. Jim Flaherty gave his most recent, sobering assessment of economic prospects in a conference call from Chile, after a meeting with finance ministers from the Americas.
Wall Street set for modest gain as investors await reading on manufacturing activityMay 1st, 2009 US stock futures edge up before manufacturing dataNEW YORK — Stocks are set for a modest gain ahead of a key reading on U.S. manufacturing.
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