US Economy - Page 35

Economy News

Reuters - The U.S. housing market will weaken further, but the sharpest decline is over as inventories of unsold homes decrease, former Federal Reserve Chairman Alan Greenspan said on Monday.

Reuters - The U.S. housing market will weaken further, but the sharpest decline is over as inventories of unsold homes decrease, former Federal Reserve Chairman Alan Greenspan said on Monday.

AP - Economic growth in the 12-nation euro area is expected to accelerate to 2.6 percent this year, up from 1.4 percent in 2005, the European Commission said Monday. More Info...  

AFP - The US labor market displayed fresh signs of vigor in October as the jobless rate fell to a five-year low despite a weaker-than-expected addition of 92,000 jobs, data showed.

Economy News

Reuters - The U.S. unemployment rate fell to a 5-1/2 year low in October and hiring in the two prior months was revised up, the government said on Friday, leading financial markets to slash bets on interest-rate cuts.

Reuters - The U.S. unemployment rate fell to a 5-1/2 year low in October and hiring in the two prior months was revised up, the government said on Friday, leading financial markets to slash bets on interest-rate cuts.

AP - The unemployment rate sank to a five-year low of 4.4 percent and workers' wages grew solidly last month, flashing a picture of a jobs market on firm footing as voters go to the polls.

AFP - The dollar moved sharply higher against the euro on news of a fall in the US unemployment rate and the upward revision of job creation figures for August and September.

FT.com - The dollar rallied on Friday after robust employment data countered fears that the vitality of the US economy had been damaged by the slowdown in the housing market. More Info...  

AP - The nation's service economy grew in October at a quicker pace than in September, and faster than analysts had expected. More Info...  

AP - The German government said Friday it will deepen a planned cut in non-wage labor costs and reduce new borrowing as the country's economic recovery helps tax revenue exceed expectations. More Info...  

FT.com - The dollar remained rangebound in subdued trade on Friday ahead of the latest US employment data due for release later in the session. US non-farm payrolls are expected to rise by 125,000 in October but a weaker reading would put further pressure on the dollar and confirm recent data which suggests growth in the US economy is continuing to weaken. More Info...  

Reuters - Traders are betting that U.S. employers added about 99,500 jobs in October according to the implied market forecast, in the fourth of five derivatives auctions, according to preliminary data from the firms holding the auction. More Info...  

Economy News

AP - Growth in productivity — the key ingredient for rising living standards — skidded to a standstill in the late summer while workers' wages and benefits shot up at the fastest clip in more than two decades.

FT.com - US productivity growth stalled in the third quarter, while unit labour costs continued to rise at a strong clip, heightening the dilemma for the Federal Reserve as it seeks to balance the risks from a slowdown in growth and stubbornly high inflation. More Info...  

Reuters - U.S. business productivity stalled unexpectedly in the third quarter, government data showed on Thursday, while unit labor costs rose at a pace that may vex the inflation-wary Federal Reserve.

Reuters - A global indicator based on national surveys of manufacturers fell in October to its lowest level since August 2005, a report showed on Thursday.

Reuters - New orders at U.S. factories rose a less-than-expected 2.1 percent in September as strength in durable goods, particularly transportation, more than offset weakness in nondurable items, a government report said on Thursday. More Info...  

AP - Orders to U.S. factories for manufactured products rose by 2.1 percent in September, the biggest increase in six months, but virtually all of the strength came in a surge in orders for commercial aircraft. More Info...  

Reuters - The number of U.S. workers applying for jobless benefits rose by an unexpectedly large 18,000 last week to 327,000, but remains at levels that still point to a relatively healthy jobs market, government data showed on Thursday.