The numbers are in and the results are that the economy is growing at a sluggish pace, almost too slow to notice. Although slightly higher than the 1.5 percent that the Commerce Department originally predicted, the April to June quarter growth of 1.7 percent is an omen that the US economy during the last half… Continue Reading
For the first time in over ten years American companies took the majority of spots on the top-20 list of the world’s biggest companies. It took ten quarters of economic expansion and profit growth since Standard & Poor’s 500 Index hit rock bottom in March 2009 for the S&P to grow by 109% and send… Continue Reading
Last week bore news of another upcoming recession in the Eurozone, according to the speculations of numerous economists. However, some believe the recession has never actually ended. Peter Rupert and Thomas F. Cooley, two U.S. economists, explain that Europe’s economies have remained low and struggling to regain momentum after the initial crisis in 2008. Germany… Continue Reading
Despite a twinge of hope from the improved retail sales in the United States in July, global stocks took a tumble as gloomy news from Europe and China offset the faint optimism emanating from the west. Tuesday’s US government figures confirmed an upward surge in spending at stores in July, up 0.8 percent over June’s… Continue Reading
For the first time in five months, retail spending in the U.S. has seen major improvement. Throughout July, retail spending increased in all sectors, including electronics, building supplies, garden equipment, furniture, sporting goods, apparel and more. According to the commerce department, retail sales increased 0.8% in total last month; the most significant rise since February.… Continue Reading
Despite hopeful outlooks and talks of growth, the U.S. economy is floundering. Winter activity was strong, but as the weather warmed, consumers cut back on their spending while export demand fell as well. Gas prices rose, while businesses minimized their employment plans and investments. The situation remains at a relative standstill as individuals and companies… Continue Reading
Economists were pleasantly surprised last week when July’s data showed an improvement in employment and a significant reduction in the number of Americans filing applications for unemployment benefits. Observers hope this is a sign that the economy will continue to grow as the labor market grows. According to Labor Department statistics the number of jobless… Continue Reading
163,000 jobs were added in the United States this past month, a hopeful figure despite the creeping unemployment rates across the country. The largest climb since February, the development fuels the political debate about the nation’s economy. Mark Zandi of Moody’s Analytics said “I was relieved. After three months of very weak job growth, I… Continue Reading
CEOs across the globe are concerned with Europe’s deteriorating state. Andrew N. Liveris, CEO of Dow Chemical, said: “The new reality is that this world is not in a normal growth mode. And it does now appear that we will see this for at least 12 to 24 months.” Wall Street analysts, investors and other… Continue Reading
In what was a surprise to economists hoping that at least the housing market was getting out of the doldrums, new housing starts plummeted in June from what was a two-year high the previous month. The market for new homes fell by 8.4 percent to an annual rate of 350,000, the lowest since this past… Continue Reading