U.S. economic growth accelerated to an annual rate of 2.5 percent from January through March, buoyed by the strongest consumer spending in more than two years. Government spending fell, though, and tax increases and federal budget cuts could slow growth later this year.
A Federal Reserve survey released Wednesday found that the economy grew moderately in most regions of the country this spring and companies continued to hire.
By MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) – The latest evidence that the economy is making steady gains emerged Friday from a gauge of future economic activity, which rose in October at the fastest pace in eight months. A string of better-than-expected economic reports this month has led some analysts to revise up their [...]
Published: November 1, 2010
Tags: Capital Economics, Commerce Department, construction spending, consumer spending, Institute for Supply Management, manufacturing, personal income, recession, unemployment
By Martin Crutsinger AP Economics Writer Washington — A mixed picture of the economy emerged one day before key midterm elections that have focused on the nation’s financial health. Spending by Americans slowed in September and their incomes fell for the first time in more than a year. At the same time, manufacturing activity grew [...]
By MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) — Consumers did not boost their spending in June and their incomes failed to increase, further evidence that the economic recovery slowed in the spring. And Americans saved at the highest rate in nearly a year. Personal spending was unchanged in June, the Commerce Department reported Tuesday. [...]
By JEANNINE AVERSA AP Economics Writer WASHINGTON (AP) — The recovery is losing so much momentum that employers are unlikely to step up hiring anytime this year, and unemployment could return to double digits. That was the bleak conclusion of analysts Friday after the government said economic growth crawled at a 2.4 percent pace in [...]
By Christopher S. Rugaber AP Economics Writer Washington (AP) — Americans spent a little more in May but not enough to speed along the economic recovery. Consumer spending rose 0.2 percent last month after no change in April, the Commerce Department reported Monday. Incomes rose for the sixth time in seven months, boosting household finances [...]
Published: May 27, 2010
Tags: Commerce Department, consumer spending, Council of Economic Advisers, economy, GDP, jobs, Labor Department, Naroff Economic Advisors, National Association for Business Economics, unemployment
By JEANNINE AVERSA AP Economics Writer WASHINGTON (AP) — The economic rebound last quarter turned out to be slower than first thought, one of the reasons unemployment is likely to stay high this year. The economy grew at a 3 percent annual rate from January to March, the Commerce Department said Thursday. That was slightly [...]
By MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) — Wages and benefits paid to U.S. workers posted a modest gain in the fourth quarter, ending a year in which recession-battered workers saw their compensation rise by the smallest amount on records going back more than a quarter-century. The anemic gains have raised concerns about the [...]
By MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) — Consumers borrowed less for a record ninth straight month in October, according to the Federal Reserve. It was another sign that consumer spending will remain weak, making it harder for the economy to mount a sustained rebound. According to the Fed, consumer credit fell at an [...]