US Economy - Page 10

FT.com - The dollar tumbled to a three-month low against the euro and the Swiss franc this week amid concerns over the health of the US economy. More Info...  

AP - China's prime minister tried to reassure the world about its financial goals Friday, saying a planned company to invest some of its $1 trillion in reserves won't affect dollar-denominated assets and promising to reform unruly Chinese stock markets.

Reuters - Corrects 7th paragraph to read: "Industrial output..." rather than the subcomponent "Manufacturing output..."

Reuters - U.S. consumer sentiment slipped to its lowest in six months in March, as worries about declining stock prices and the health of the housing market shook consumer's confidence in the economy, a report showed on Friday.

Reuters - Consumer prices climbed more than expected in February as energy costs bounced back from a January drop and food prices climbed at the steepest rate in nearly two years, a Labor Department report on Friday showed.

AFP - Global stock markets struggled Friday to recover from the latest equities sell-off as anxious investors assessed the outlook for the US economy, dealers said.

Economy News

Reuters - An increase in U.S. homes for sale as a result of subprime loan borrowers defaulting on their mortgages, in addition to less construction of new homes, is likely to depress gross domestic product growth, Standard & Poor's said on Thursday.

Reuters - An increase in U.S. homes for sale as a result of subprime loan borrowers defaulting on their mortgages, in addition to less construction of new homes, is likely to depress gross domestic product growth, Standard & Poor's said on Thursday.

AP - Inflation at the wholesale level soared in February, pushed higher by gasoline and other energy prices and the largest increase in food costs in more than three years.

Reuters - Producer prices rose sharply in February and new claims for jobless aid fell last week, data showed on Thursday, but sluggish factory activity in the Northeast suggested the economy was only limping along.

Reuters - Former Federal Reserve Chairman Alan Greenspan said on Thursday there was a risk that rising defaults in subprime mortgage markets could spill over into other economic sectors.

Reuters - House prices could tumble 10 percent this year and raise the chances the United States may slip into recession unless the Federal Reserve cuts interest rates to cushion the fall in economic growth, Merrill Lynch said in research notes this week. More Info...  

Reuters - Higher energy costs pushed producer prices up by a bigger-than-expected 1.3 percent in February and there was a large drop in the number of initial jobless claims filed last week, Labor Department data on Thursday showed.

Economy News AP - The deficit in the broadest measure of trade hit an all-time high in 2006 and for the first time the United States even ran a deficit on investment income. More Info...  

FT.com - The US Treasury yield curve came close to breaking the pattern of the past seven months on Tuesday as concerns over the US economy caused by worries over the subprime mortgage market pushed up short-dated bond prices. More Info...  

Reuters - The U.S. current account deficit shrank in the fourth quarter of 2006 to its smallest in more than a year as lower oil prices took a bite out of imports and U.S. exports continued to rise, a Commerce Department report showed on Wednesday.

Reuters - The U.S. current account deficit shrank more than expected in the fourth quarter of 2006 to $195.8 billion, as lower oil prices took a bite out of imports and U.S. exports continued to rise, a Commerce Department report showed on Wednesday. More Info...  

Reuters - U.S. mortgage applications rose last week, with both new purchases and refinancings driven up by the lowest long-term home loan rates since early December, an industry trade group said on Wednesday. More Info...  

Reuters - China's retail sales in the first two months rose a strong 14.7 percent from a year earlier, reinforcing a trend of sturdy spending buoyed by rising incomes and government steps to spur consumption.

Economy News

AP - Sales at the nation's retailers barely budged in February as bad winter weather kept already cautious shoppers away from the malls.