Summary Box: Jobs, manufacturing data show recovery off to bumpy start; modest rebound likelyOctober 1st, 2009 Summary Box: Jobs, manufacturing data disappointCONSUMERS: Consumer spending surged 1.3 percent in August, due partly to the now-ended Cash for Clunkers program. But incomes posted a lackluster 0.2 percent gain, and the number of newly laid-off workers rose more than expected to 551,000 last week.
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: 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.
Investors start September on cautious footing, stocks fall after manufacturing, housing dataSeptember 1st, 2009 Stocks fall after manufacturing, housing dataNEW YORK — The stock market's rally finally gave way on Tuesday, sending shares sharply lower as investors concluded that a six-month surge was overdone. At midday, all the major indexes fell more than 1.5 percent, including the Dow Jones industrials, which lost about 150 points.
Stocks sink even after improvements in manufacturing, housing; Dow drops 165 pointsSeptember 1st, 2009 Stocks shrug off better factory data, head lowerNEW YORK — The stock market's rally finally gave way on Tuesday, sending shares sharply lower as investors concluded that a six-month surge was overdone. At midday, all the major indexes fell more than 1.5 percent, including the Dow Jones industrials, which lost about 165 points.
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: Consumer sentiment improves, while home prices rise for first time in 3 yearsAugust 25th, 2009 Summary Box: Consumer sentiment, home prices upWHAT HAPPENED?: Consumer confidence improved more than expected in August, and a nationwide gauge of home prices rose for the first time in three years, a sign the housing sector is stabilizing. WHAT DOES IT MEAN?: Improved consumer sentiment and higher home prices could mean consumers will spend more in the coming months, providing a much-needed boost to the economy.
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: 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.
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.
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