Consumer sentiment dips going into holidays (Reuters)
Reuters - U.S. consumer sentiment slipped in December but was not far from the year's highs, a report said on Friday, suggesting Americans were guardedly optimistic about the economy in the holiday season.
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Payrolls drop by most in 5 years; more pain ahead (AP)
2008.10.04By The Associated Press 47 minutes ago
THE LATEST: Employers slashed 159,000 jobs in September, the most in more than five years and the ninth month in a row of nationwide job losses. So far this year, the economy has lost a staggering 760,000 jobs.
WHAT IT MEANS: With jobs harder to come by and the growth in workers' wages slowing, consumers are expected to hunker down further, spelling even more problems for the troubled economy.
THE OUTLOOK: More pain ahead — even with Congress' unprecedented $700 billion financial bailout. The unemployment rate — now at 6.1 percent — probably will climb higher and employers are expected to keep cutting jobs in the months ahead. The economy may have stalled already — or actually slid into reverse — in the just-ended third quarter.
Regions : Americas
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November housing starts up (Reuters)
Reuters - The pace of U.S. home building rose in November as new home starts climbed 6.7 percent, rebounding from a sharp decline in October while building permits fell 3 percent, a government report showed on Tuesday.
Reuters - The pace of U.S. home building rose in November as new home starts climbed 6.7 percent, rebounding from a sharp decline in October while building permits fell 3 percent, a government report showed on Tuesday.
US GDP revised down to show 2.0 percent growth pace (AFP)
AFP - US economic growth has been a bit more sluggish than earlier estimated in the third quarter, growing at a 2.0 percent annualized pace, according to revised data.
AFP - US economic growth has been a bit more sluggish than earlier estimated in the third quarter, growing at a 2.0 percent annualized pace, according to revised data.
Consumers boost buying during holidays (AP)
AP - Keeping the nation's cash registers ringing, consumers boosted their spending in November by the largest amount in four months, raising hopes shoppers will act more like Santas than Scrooges during the holidays.
AP - Keeping the nation's cash registers ringing, consumers boosted their spending in November by the largest amount in four months, raising hopes shoppers will act more like Santas than Scrooges during the holidays.
Consumer confidence ebbs, boosts rate hopes (Reuters)
Reuters - U.S. consumer confidence ebbed in December, while a key measure of inflation held steady in November for first time in four years, boosting the chances of Federal Reserve interest rate cuts in 2007.
Reuters - U.S. consumer confidence ebbed in December, while a key measure of inflation held steady in November for first time in four years, boosting the chances of Federal Reserve interest rate cuts in 2007.
