Lucia's Feed
Mar 30, 2015

U.S. consumer spending tepid; savings at two-year high

WASHINGTON (Reuters) – U.S. consumer spending barely rose in February as households boosted savings to their highest level in more than two years, the latest sign that the economy hit a soft patch in the first quarter.

Economic growth has been undercut by bad winter weather, a strong dollar, a now-settled labor dispute at busy West Coast ports and softer demand in Europe and Asia. The slowdown in activity, however, is expected to be temporary.

Mar 27, 2015

U.S. economic growth slows in fourth-quarter

WASHINGTON (Reuters) – U.S. economic growth cooled in the fourth quarter as previously reported and after-tax corporate profits recorded their biggest drop since early 2011, as a strong dollar dented the earnings of multinational corporations.

Gross domestic product expanded at a 2.2 percent annual rate last quarter, the Commerce Department said on Friday in its third estimate of GDP. That was unrevised from the forecast last month.

Mar 27, 2015

U.S. economic growth slows in fourth quarter; corporate profits fall

WASHINGTON (Reuters) – U.S. economic growth cooled in the fourth quarter as previously reported and after-tax corporate profits recorded their biggest drop since early 2011, as a strong dollar dented the earnings of multinational corporations.

Gross domestic product expanded at a 2.2 percent annual rate last quarter, the Commerce Department said on Friday in its third estimate of GDP. That was unrevised from the forecast last month.

Mar 27, 2015

U.S. economic growth slows in Q4; corporate profits fall

WASHINGTON, March 27 (Reuters) – U.S. economic growth cooled
in the fourth quarter as previously reported and after-tax
corporate profits recorded their biggest drop since early 2011,
as a strong dollar dented the earnings of multinational
corporations.

Gross domestic product expanded at a 2.2 percent annual rate
last quarter, the Commerce Department said on Friday in its
third estimate of GDP. That was unrevised from the forecast last
month.

Mar 26, 2015

Lower U.S. jobless claims suggest solidly improving labor market

WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits fell more than expected last week, pointing to a healthy and expanding labor market.

The sustained jobs market strength underscores the economy’s solid fundamentals and suggests a recent slowdown in economic activity will be temporary.

Mar 25, 2015

Weak U.S. business spending data points to first-quarter growth slowdown

WASHINGTON (Reuters) – U.S. business investment spending plans fell for a sixth straight month in February, likely weighed down by a strong dollar and weak global demand, which could lead economists to further lower their first-quarter growth estimates.

The Commerce Department’s durable goods report on Wednesday was the latest data to suggest economic growth braked sharply early in the year, in part due to bad weather and a now-settled labor dispute at the country’s busy West Coast ports.

Mar 25, 2015

Weak U.S. business spending data points to Q1 growth slowdown

WASHINGTON, March 25 (Reuters) – U.S. business investment
spending plans fell for a sixth straight month in February,
likely weighed down by a strong dollar and weak global demand,
which could lead economists to further lower their first-quarter
growth estimates.

The Commerce Department’s durable goods report on Wednesday
was the latest data to suggest economic growth braked sharply
early in the year, in part due to bad weather and a now-settled
labor dispute at the country’s busy West Coast ports.

Mar 24, 2015

U.S. consumer prices rebound, underlying inflation firming

WASHINGTON (Reuters) – U.S. consumer prices rebounded in February as gasoline prices rose for the first time since June, and there were also signs of an uptick in underlying inflation pressures, which could keep a June interest rate increase on the table.

Signs of inflation are likely to be welcomed by Federal Reserve officials. They are also a good omen for an economy that has stumbled in recent months under the weight of a harsh winter, weak global demand, a strong dollar and the now-settled labor dispute at one of the country’s busiest ports.

Mar 23, 2015

U.S. homes sales up marginally; supply a constraint

WASHINGTON (Reuters) – U.S. home resales rebounded modestly in February as a persistent shortage of properties on the market spurred the biggest price jump in a year, a trend that could undermine the spring selling season.

The National Association of Realtors said on Monday that existing home sales rose 1.2 percent to an annual rate of 4.88 million units. That left the bulk of January’s 4.9 percent plunge intact.

Mar 19, 2015

U.S. jobless claims up slightly; current account gap widens

WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits rose marginally last week, indicating the labor market remained on solid footing despite slowing economic growth.

Output has slowed in the first quarter, undercut by a harsh winter, a strong dollar, weaker overseas growth and a now-settled labor dispute at West Coast ports, mostly transitory factors that should fade by the second quarter.