U.S. manufacturing made gains in June but American consumers grew more pessimistic. Friday’s report from a business group says a survey of purchasing managers showed the manufacturing sector expanding more quickly last month. Manufacturing has been rebounding more quickly than other parts of the U.S. economy, which is still recovering from the worst recession in […]
US Jobless Claims Edge Downward
The number of people signing up for unemployment aid declined slightly last week across the United States. Thursday’s report from the Labor Department says the number of initial jobless claims fell by 1,000 to a nationwide total of 428,000. While that is a slight improvement, the figures are still above the level seen when the […]
Obama Calls on Lawmakers to ‘Seize This Moment,’ Tackle Debt
U.S. President Barack Obama warns any failure to raise the government debt limit will have a “significant” and “unpredictable” impact on the nation’s struggling economy. During a news conference at the White House on Wednesday, Mr. Obama told reporters lawmakers in Congress must “seize this moment” and work together to prevent the U.S. from defaulting […]
Obama Calls on Lawmakers to ‘Seize This Moment,’ Tackle Debt
U.S. President Barack Obama says Congress must act soon to raise the government debt limit, while also reducing the U.S. budget deficit. During a news conference at the White House on Wednesday, Mr. Obama told reporters that no one wants to see the U.S. default on its $14 trillion national debt, saying “we have to […]
IMF Urges US Congress To Raise Debt Limit
Officials of the International Monetary Fund are urging the U.S. Congress to move promptly to raise the nation’s debt ceiling. An IMF report says inaction could bring sharply increased interest rates that could hurt the U.S. economy and cause problems on world financial markets. U.S. law requires Congress to approve borrowing more than the currently […]
Japan’s Industrial Production Rises
Japan’s industrial production rose 5.7 percent in May from the previous month in a sign of steady recovery from the March 11 quake and tsunami. The figure announced Wednesday is higher than the expected 5.5-percent increase. The production rose for a second consecutive month. In April it was up 1.6 percent. The government issued a […]
Obama: Next Century Can Be ‘Another American Century’
U.S. President Barack Obama has highlighted the importance of American manufacturing in revitalizing the economy. President Obama visited an aerospace supply plant in the central U.S. state of Iowa Tuesday, telling workers the United States can make the next century, in his words, “another American century.” The president said the U.S. is facing some tough […]
US Housing Prices Rise
Economic reports Tuesday show U.S. housing prices going up, and consumer confidence falling. The S & P / Case-Shiller home price index showed a gain in April, the first monthly increase in nine months. While prices were better than the prior month, they remain below the same period a year ago. Severe problems in the […]
US Consumer Spending Stalls
U.S. consumer spending was unchanged in May, after 10 months of gains. Monday’s report from the Commerce Department also shows inflation rose a bit during the month. Economists watch consumer spending carefully because consumer demand drives about 70 percent of U.S. economic activity. Experts say consumer spending stalled in May because rising costs of food […]
US Manufacturing Bounces Back In May
A key measure of manufacturing in the United States rebounded in May. Friday’s report from the Commerce Department says orders for expensive manufactured items intended to last three years or more jumped 1.9 percent. That is a sharp change from the prior month that saw a decline in such “durable goods,” which include everything from […]