Oil slipped Thursday as markets weighed disappointing U.S. jobless claims data and the prospect OPEC would raise output should prices break above $100 a barrel for an extended period. Get the full story »
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Bernanke sees growth picking up, but not jobs
The U.S. economy should grow around 3 percent to 4 percent this year, a healthier clip than in 2010 but not enough to bring down unemployment as much as policymakers would like, Federal Reserve Chairman Ben Bernanke said Thursday.
“We see the economy strengthening. It has looked better in the last few months. We think a 3 to 4 percent-type of growth number for 2011 seems reasonable,” Bernanke said at an event sponsored by the Federal Deposit Insurance Corp. Get the full story »
Higher energy and food costs lift wholesale prices
A spike in oil and food costs pushed wholesale prices up last month by the biggest amount in nearly a year, a trend that could threaten the still-fragile global economy.
November trade deficit dips to $38.3 billion
The U.S. trade deficit narrowed unexpectedly in November as exports climbed to the highest level in more than two years, government data showed on Thursday.
The trade gap dipped to $38.3 billion from $38.4 billion in October, the Commerce Department reported. Analysts surveyed before the report had expected the November trade deficit to widen slightly to $40.5 billion from October’s originally reported $38.7 billion. Get the full story »
Energy, food costs drive producer prices higher
U.S. producer prices rose more than expected in December as energy and food costs surged while underlying inflation remained subdued, highlighting a divergence that complicates the outlook for monetary policy. Get the full story »
U.S. budget deficit narrowed in December
The federal budget deficit narrowed slightly in December from a year earlier, but the deficit for the entire year is still on pace to exceed $1 trillion.
The government ran a deficit of $80 billion last month, down 12.4 percent from the previous December, the Treasury Department said Wednesday. Through the first three months of the current budget year, the deficit totals $370.8 billion, an improvement of 3.1 percent a year earlier. Get the full story »
Jan. 12 at 1:49 p.m.
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Filed under: Economy, Government, Housing, Jobs/employment, Manufacturing, Real estate, Retail Beige Book shows economy still growing modestly
Economic growth continued to expand moderately the last few weeks, the Federal Reserve said Wednesday.
In its latest snapshot of regional economic conditions, the Fed reported that manufacturing, retail and non-financial services sectors were strong in most regions. Get the full story »
Builders’ show hears optimistic housing forecast
Housing experts say U.S. home sales and construction should rise sharply this year, but the increases hinge on the economy adding more jobs.
Two economists delivered their forecast Wednesday at the International Builders’ Show in Orlando, Fla. Get the full story »
Euro zone moves toward deal on debt crisis
Euro zone countries are working on a “comprehensive package” to solve the bloc’s debt crisis, which could be approved by February or March, German Finance Minister Wolfgang Schaeuble said Wednesday.
“We can’t just solve the problems over the short term — if there are short-term problems — but also over the mid-term,” Schaeuble told reporters, adding that euro zone states were trying to reach agreement on a “comprehensive package.” Get the full story »
Obama approval rating rises as economy improves
President Barack Obama returning from his vacation in Hawaii with his family, Jan. 4, 2011. (Reuters/Jason Reed)
President Barack Obama is getting a bump in his approval ratings from an improving economy, but Americans want him to focus on reducing debt and spending, a Reuters/Ipsos poll showed on Wednesday.
The poll found reasons for optimism for Obama as he searches for areas of compromise with newly emboldened Republicans this year and lays the groundwork for his 2012 re-election bid.
Obama’s job approval rating went up to 50 percent from 45 percent in December, the first time Obama has achieved 50 percent approval in this poll since last June. Get the full story »
Geithner says China needs faster yuan rise
China’s yuan currency remains “substantially undervalued” and it is in Beijing’s own interest to let it appreciate more rapidly to ward off inflation risks, U.S. Treasury Secretary Timothy Geithner said on Wednesday. Get the full story »
U.S. to press China on yuan ahead of Hu visit
The United States wants a “real, demonstrative commitment” from China that it is serious about shifting away from export-led economic growth, a U.S. official told Reuters on Tuesday ahead of next week’s state visit by China’s Hu Jintao. Get the full story »
CEO confidence rebounds in fourth quarter
The Conference Board’s measure of CEO confidence bounced back in the final quarter of 2010 with more than half of chief executives anticipating improving economic conditions in the next six months.
The CEO confidence measure jumped to 62 in the fourth quarter, after falling in the third quarter to 50. A reading of more than 50 points reflects more positive responses than negative responses. Get the full story »
