WASHINGTON (AP) — U.S. manufacturing grew last month at the fastest pace in 10 months. New orders, production and a measure of hiring all rose.
FALLS CHURCH, Va. — Conceding his earlier housing programs have fallen short, President Barack Obama on Wednesday proposed a vast expansion of government assistance to homeowners, aiming to make lower lending rates a possibility for millions of borrowers who have not been able to get out from under burdensome mortgages.
WASHINGTON — Consumers are giving a modest lift to the economy. They spent more on trucks, electronics and building supplies in October to boost retail sales for the fifth straight month.
WASHINGTON — Sales of new homes fell for the third straight month in July, a sign that housing remains a drag on the economy. If the current pace continues, 2011 would be the worst year for new-home sales in nearly half a century.Sales fell nearly 1 percent in July to a seasonally adjusted annual rate of 298,000, the Commerce Department said Tuesday. That’s less than half the 700,000 that economists say represent a healthy market.
WASHINGTON — The economy might not be on the brink of another recession after all. Consumers, who drive most economic growth, spent more on cars, furniture, electronics and other goods in July — and more in May and June than previously thought. That burst of activity is encouraging because it shows many Americans were willing to spend despite high unemployment, scant pay raises, steep gas prices and diminished wealth. If it keeps up, the economy might rebound after growing at an annual rate of just 0.8 percent in the first half of 2011.
WASHINGTON — Americans cut their spending in June for the first time in nearly two years after seeing their incomes grow by the smallest amount in nine months. The latest data offered a troubling sign for an economy that is adding few jobs and barely growing.
WASHINGTON — For homebuilders, it hardly feels like an economic recovery. Nearly two years after the recession ended, the pace of construction is inching along at less than half the level considered healthy. Single-family home building, the bulk of the market, has dropped 11 percent in that time. And there’s no sign it will improve soon.
The economy slowed sharply in the first three months of the year. High gas prices cut into consumer spending, bad weather delayed construction projects and the federal government slashed defense spending by the most in six years.