Lucia's Feed
Jun 29, 2015

U.S. pending home sales hit nine-year high

WASHINGTON (Reuters) – Contracts to buy previously owned U.S. homes rose to their highest level in just over nine years in May, in a further boost to the housing market and the broader economic outlook.

The National Association of Realtors said on Monday its Pending Home Sales Index, based on contracts signed last month, increased 0.9 percent to 112.6, the highest level since April

Jun 25, 2015

Robust U.S. consumer spending buoys economic growth outlook

WASHINGTON (Reuters) – U.S. consumer spending recorded its largest increase in nearly six years in May on strong demand for automobiles and other big-ticket items, further evidence that economic growth was gathering momentum in the second quarter.

While other data on Thursday showed a modest increase in first-time applications for unemployment benefits last week, the underlying trend in jobless claims continued to suggest the labor market was tightening.

Jun 24, 2015

U.S. economy contracts mildly in first quarter, but growth rebounding

WASHINGTON (Reuters) – The U.S. economy contracted in the first quarter but less than previously estimated as it struggled with bad weather, a strong dollar, spending cuts in the energy sector and disruptions at West Coast ports.

However, growth has since rebounded in the second quarter as the temporary drag from unusually heavy snowfalls and the ports dispute faded. Retailers reported strong sales in May and employers stepped up hiring. Housing is also strengthening.

Jun 24, 2015

U.S. economy contracts mildly in Q1, but growth rebounding

WASHINGTON, June 24 (Reuters) – The U.S. economy contracted
in the first quarter but less than previously estimated as it
struggled with bad weather, a strong dollar, spending cuts in
the energy sector and disruptions at West Coast ports.

However, growth has since rebounded in the second quarter as
the temporary drag from unusually heavy snowfalls and the ports
dispute faded. Retailers reported strong sales in May and
employers stepped up hiring. Housing is also strengthening.

Jun 23, 2015

U.S. manufacturing may be ending slump; housing gains steam

WASHINGTON (Reuters) – A gauge of U.S. business investment spending plans rose in May, a tentative sign that the manufacturing sector was stabilizing after going into a slump late last summer.

But the lingering effects of lower oil prices and a strong dollar will continue to constrain factory activity for a while, economists say. Other data on Tuesday showed new home sales increased to a more than seven-year high in May.

Jun 23, 2015

U.S. durable goods orders data suggest manufacturing stabilizing

WASHINGTON (Reuters) – A gauge of U.S. business investment spending plans rose in May, offering a tentative sign of stabilization in the manufacturing sector after activity started weakening in the late summer of 2014.

But the lingering effects of lower oil prices and a strong dollar will continue to constrain factory activity for a while, economists say. Manufacturing is lagging other economic data, including retail sales and housing, which have rebounded after hitting a soft patch at the start of the year.

Jun 22, 2015

U.S. home sales at 5-1/2-year high on first-time buyers

WASHINGTON (Reuters) – U.S. home resales surged to a 5-1/2-year high in May as first-time buyers stepped into the market, the latest indication that housing and overall economic activity were gathering steam in the second quarter.

The National Association of Realtors said on Monday existing home sales increased 5.1 percent to an annual rate of 5.35 million units, the highest level since November 2009.

Jun 21, 2015

Two Republican White House hopefuls dodge Confederate flag issue

WASHINGTON (Reuters) – Republican U.S. presidential candidates Mike Huckabee and Rick Santorum, sidestepping a divisive issue reignited by the church massacre in Charleston, refused on Sunday to say whether South Carolina should remove the Confederate flag from its State House grounds.

Huckabee and Santorum, who draw support from their party’s conservative wing, said it is up to the state to decide. They made their comments a day after 2012 Republican presidential nominee Mitt Romney called for the flag’s removal, labeling it “a symbol of racial hatred” to many people.

Jun 18, 2015

Gasoline lifts U.S. consumer prices; economy picks up speed

WASHINGTON (Reuters) – U.S. consumer prices in May recorded their largest increase in more than two years as gasoline prices surged, suggesting the impact of lower oil prices on inflation probably was fading.

Other data on Thursday showed the economy was gaining speed after stumbling in the first quarter. New applications for unemployment benefits fell last week to a near 15-year low and factory activity in the mid-Atlantic region accelerated to a six-month high in June.

Jun 18, 2015

U.S. consumer prices post largest gain in more than two years

WASHINGTON (Reuters) – U.S. consumer prices in May recorded their largest increase in more than two years as gasoline prices surged, suggesting an energy-driven disinflationary trend had probably run its course.

Other data on Thursday showed the labor market continued to tighten, as first-time applications for unemployment benefits declined last week to a near 15-year low. The slight pickup in inflation and a strengthening labor market put the Federal Reserve a step closer to raising interest rates later this year.