US Economy - Page 26

Economy News AP - Pushed up by soaring oil prices, America's trade deficit surged to a record high in the summer, but analysts predicted a slowly improving imbalance in the months ahead. More Info...  

Reuters - The huge U.S. current account deficit widened in the third quarter to a record $225.6 billion, as gushing oil prices and strong demand for Chinese and other foreign goods pushed imports higher, a U.S. Commerce Department report showed on Monday.

AP - Russia's economics minister said Monday that the economy could grow 7 percent this year, beating the government's original forecasts, news reports said. More Info...  

Economy News AP - Inflation stayed docile in November for a third straight month, helped by falling energy prices and lower costs for everything from new cars and airline tickets to food and clothing. More Info...  

AP - The federal deficit for 2006 would have been 81 percent higher than the $247.7 billion that was reported two months ago if the government had to use the same accounting methods as private companies. More Info...  

Reuters - U.S. consumer prices held steady in November, confounding expectations of a small rise, as energy and vehicle costs dropped, according to a government report on Friday that eased inflation worries.

AP - A slowdown in the U.S. economy will likely drag on global growth next year, economists predict, but Asia and Europe are expected to remain fairly resilient amid signs of healthy consumer demand.

Economy News

AP - The number of Americans filing applications for unemployment benefits dropped sharply for a second straight week, pushing total claims down to the lowest level in two months.

Reuters - The number of U.S. workers seeking initial jobless benefits fell 20,000 last week, while import prices rose last month despite an oil price drop, suggesting a resilient economy still facing inflation risks.

AFP - The dollar extended its rebound as market concerns about a faltering US economy appeared to ease in the wake of the latest data.

Reuters - U.S. economic growth will remain steady in the next year as inflation moderates, the U.S. Chamber of Commerce forecast on Thursday, brushing aside concerns that the downturn in housing could spark a full-blown recession. More Info...  

AFP - The dollar moved higher against the euro as market concerns about the fate of the US economy appeared to ease.

Reuters - U.S. tourism sales declined in the third quarter, the first slowdown in four years, on the back of new security restrictions for air travel announced in August, the Commerce Department said on Thursday.

Reuters - The number of U.S. workers seeking first-time jobless benefits fell more than expected last week, dropping from levels analysts had said were inflated by a holiday-related spike, a government report on Thursday showed.

Economy News

AP - The holiday shopping season may not be so bad after all. Consumers came surging back into stores in November, revving retail sales at the fastest pace in four months. The 1 percent increase reported by the Commerce Department on Wednesday was far above the 0.1 percent rise that many analysts had expected.

FT.com - The dollar rallied on Wednesday after a sharp rise in US retail sales saw investors scale back the chances of a hard landing in the US economy. More Info...  

Reuters - U.S. retail sales jumped sharply in November as shoppers went on a spending spree that will reinforce the Federal Reserve's view that the cooling housing market has not hurt the rest of the economy.

AP - The amount of business inventories rose by 0.4 percent in October, the largest increase since August, the government reported Wednesday. More Info...  

AFP - The dollar rebounded after overnight falls caused by Fed concerns over a weaker US economy.

Economy News AP - The federal budget deficit is showing a slight improvement through the first two months of the 2007 budget year, although the imbalance is still expected to exceed last year's figure. More Info...