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Jul 25, 2014

U.S. durable goods orders rebound, core capital goods rise

WASHINGTON (Reuters) – Orders for long-lasting U.S. manufactured goods rose more than expected in June, pointing to momentum in the economy heading into the third quarter.

The Commerce Department said on Friday durable goods orders increased 0.7 percent as demand increased from transportation to machinery and computers and electronic products.

Jul 24, 2014

U.S. new home sales post biggest drop in almost a year

WASHINGTON/NEW YORK (Reuters) – Sales of new U.S. single-family homes fell sharply in June and the prior month’s data suffered the biggest downward revision ever, casting a cloud on the housing market recovery and helping to send homebuilder stocks lower.

The Commerce Department said on Thursday sales dropped 8.1 percent, the largest decline since July 2013, to a seasonally adjusted annual rate of 406,000 units. May’s sales pace was revised to 442,000 units from a previously reported 504,000 units.

Jul 24, 2014

Jobless claims fall to lowest level since early 2006

WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits fell to the lowest level in nearly 8-1/2 years last week, suggesting the labor market recovery was gaining traction.

Initial claims for state unemployment benefits declined 19,000 to a seasonally adjusted 284,000 for the week ended July 19, the Labor Department said on Thursday.

Jul 24, 2014

U.S. jobless claims fall to lowest level since early 2006

WASHINGTON, July 24 (Reuters) – The number of Americans
filing new claims for unemployment benefits fell to the lowest
level in nearly 8-1/2 years last week, suggesting the labor
market recovery was gaining traction.

Initial claims for state unemployment benefits declined
19,000 to a seasonally adjusted 284,000 for the week ended July
19, the Labor Department said on Thursday.

Jul 23, 2014

Economists worry rising wages may catch the Fed off guard

WASHINGTON (Reuters) – Wages may be growing at a faster clip than envisaged by U.S. policymakers, with a recent raft of business surveys showing an increase in the number of companies raising compensation.

One closely watched wage growth measure, a gauge produced by the National Federation for Independent Business, has reached a seven-year high. A turn in this index, which began moving up late last year, historically has been followed by a pick-up in wage growth nine months later.

Jul 22, 2014

U.S. housing turning the corner, inflation creeping up

WASHINGTON (Reuters) – U.S. home resales hit an eight month-high in June, suggesting the housing market was gradually regaining momentum and would help the economy to stay on a higher growth path this year.

The third straight month of home sales gains, reported by the National Association of Realtors on Tuesday, added to employment and retail sales data that have indicated economic growth ended the second quarter on a firmer note. A separate report showed inflation moving slightly higher.

Jul 22, 2014

U.S. consumer inflation rises on high gasoline prices

WASHINGTON (Reuters) – U.S. consumer prices rose in June as the cost of gasoline surged, but the underlying trend remained consistent with a gradual build-up of inflationary pressures.

The Labor Department said on Tuesday its Consumer Price Index increased 0.3 percent last month, with gasoline accounting for two-thirds of the gain, after May’s 0.4 percent rise.

Jul 21, 2014

NABE survey points to rising U.S. wage pressures

WASHINGTON, July 21 (Reuters) – The share of U.S. companies
raising wages more than doubled in the three months to July from
a year ago, a survey showed on Monday, suggesting a faster pace
of wage growth.

The National Association for Business Economics’ (NABE)
latest business conditions survey found that 43 percent of the
79 economists who participated said their firms had increased
wages. That compared to only 19 percent last year and marked an
increase from 35 percent in the three months to April.

Jul 17, 2014

U.S. jobs data upbeat, but housing starts fall sharply

WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting the labor market recovery was gaining traction.

The economy’s brightening outlook was dimmed somewhat by another report on Thursday showing a tumble in housing starts and building permits last month.

Jul 16, 2014

U.S. factory output surges in second quarter, housing improving

WASHINGTON (Reuters) – U.S. manufacturing output rose at its fastest pace in more than two years in the second quarter, suggesting the economy was regaining enough momentum to lift growth throughout the year.

Other data on Wednesday showed inflation stirring at the factory gate and the housing market, whose recovery stalled late last year, getting back on track.