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WASHINGTON (AP) — The U.S. economy grew at a solid 4.1 percent annual rate from July through September, the fastest pace since late 2011 and significantly higher than previously believed. Much of the upward revision came from stronger consumer spending.
WASHINGTON | The Federal Reserve has decided to reduce its stimulus for the U.S. economy because the job market has shown steady improvement. The shift could lead to higher long-term borrowing rates for individuals and businesses.
The government on Monday reported a $97.6 billion deficit for July but remains on track to post its lowest annual budget gap in five years.
WASHINGTON | U.S. wholesalers increased their stockpiles in April and their sales rebounded from a big decline in March, positive signs for economic growth.
WASHINGTON | U.S. homebuilders broke the 1 million mark in March for the first time since June 2008. The gain signals continued strength for the housing recovery at the start of the spring buying season.
WASHINGTON | U.S. consumers stepped up spending in February after their income jumped, aided by a stronger job market that offset some of the drag from higher taxes. The gains led economists to predict stronger economic growth at the start of the year.
WASHINGTON | U.S. orders for machinery and other factory goods that signal business investment surged in January, indicating confidence in the economy.
WASHINGTON | U.S. factory orders increased in December even though companies trimmed their orders for goods that signal investment plans.
WASHINGTON | The Federal Reserve unleashed a series of bold and open-ended steps Thursday designed to stimulate the economy by boosting the stock market and making it cheaper for people to borrow and spend.
WASHINGTON | Federal Reserve officials spoke with increased urgency at their last meeting about the need to provide more help for a weak U.S. economy. Many thought further support would be needed "fairly soon" unless the economy improved significantly.
WASHINGTON | Slumping job growth has alarmed some economists who fear the U.S. economy is in trouble.
Americans spent more on cars and trucks, and companies restocked their shelves at the strongest pace in nearly two years, helping the U.S. economy reach its fastest growth rate of last year.
The U.S. economy will muddle through the next year without a recession, but growth-predicted to be 2.4 percent-will be too weak to make much of a dent in the unemployment rate, forecasters believe.
WASHINGTON | Federal Reserve Chairman Ben Bernanke on Wednesday acknowledged the pace of economic growth is likely to be "frustratingly slow" after the Fed downgraded its forecast for the next two years.
WASHINGTON | Americans are making a little more money and spending a lot more.
The economy is showing signs of modest improvement - not enough to reduce high unemployment but enough to ease fears another recession might be near.
WASHINGTON | The economy is showing signs of modest improvement — not enough to reduce high unemployment but enough to ease fears another recession might be near.
WASHINGTON | Federal Reserve Chairman Ben Bernanke said he's surprised by how cautious consumers have been in the two years since the recession officially ended. But the Fed chief offered no hint of any steps the Fed would take to boost the weak economy.
WASHINGTON | A record level of exports and a drop in oil prices narrowed the U.S. trade deficit in July to its lowest point in three months. The jump in exports could give the economy a lift at time when it is at risk of another recession.
WASHINGTON | Service firms that employ 90 percent of the U.S. work force expanded at a slightly faster pace in August. But the sector remains too weak to help an economy that is barely growing and struggling to create jobs.
WASHINGTON | The U.S. service sector, which employs nearly 90 percent of the country's work force, expanded for a 19th consecutive month in June. But growth slowed from May, a sign the economy remains sluggish.
The U.S. economy expanded a little faster at the beginning of the year than previously estimated. But the growth rate was still anemic and economists don't see that changing much in the coming months.
Consumers as a whole will likely spend more this year-but not because we'll all be earning more money. Even people lucky enough to get a raise will likely spend most of those extra dollars to pay higher gas and food prices.
WASHINGTON | The Obama administration is proposing that banks report all electronic money transfers in and out of the country, expanding its anti-terrorism requirements for financial institutions.
WASHINGTON | Retail sales rose in August by the largest amount in five months, adding to evidence that a late spring economic swoon was temporary and not the start of another recession.
WASHINGTON | New home construction edged up slightly in July but applications for building permits tumbled to the lowest point in 14 months, a sign of continued stress in housing.
WASHINGTON | A decline in exports and a sharp rise in imports pushed the U.S. trade deficit in June to its widest point since October 2008, raising new concerns about the weakening economic recovery.
WASHINGTON | Consumer borrowing fell in June for a fifth straight month as households keep cutting back on credit card use.
WASHINGTON | Consumers are saving more and being picky about how they spend their money, new data show.
WASHINGTON (AP) — The U.S. posted solid gains in exports in May, a positive sign for the economy. And while imports grew even faster, some economists saw that as a hopeful sign because it suggests companies are betting that consumers will spend more in coming months.
WASHINGTON | Americans are pulling back on their spending, a trend that could slow the economic recovery if it continues.
WASHINGTON | The folks who print America's money have designed a high-tech makeover of the $100 bill. It's part of an effort to stay ahead of counterfeiters as technology becomes more sophisticated and more dollars flow overseas, Federal Reserve Chairman Ben Bernanke says.
WASHINGTON | The Treasury Department said Friday that five big companies still living on federal bailout money will see cash salaries for some of their top earners limited in 2010 so that only five of those executives in this group will be making cash salaries above $500,000.
WASHINGTON | Housing construction posted a better-than-expected performance in March, rising to the highest level in 16 months on the strength of multi-family homes.
WASHINGTON | The budget deficit for March showed a dramatic decline as the Obama administration formally entered a lower ultimate cost for the government's $700 billion financial bailout program.
WASHINGTON | Housing construction fell in February as winter blizzards held down activity in the Northeast and South. The decline highlighted the challenges facing builders as they struggle to emerge from the worst housing slump in decades.
WASHINGTON | China retained its spot as the biggest foreign holder of U.S. Treasury debt in January even as it trimmed its holdings for a third straight month. The string of declines underscored worries that the U.S. government could face much higher interest rates to finance soaring budget …
WASHINGTON | Retail sales posted a surprising increase in February as consumers did not let major snowstorms stop them from racking up purchases. The advance, the biggest since November, provided hope the recovery from the Great Recession is gaining momentum.
WASHINGTON | Businesses trimmed inventories at the wholesale level again in January even though sales rose for a 10th consecutive month. The dip in inventories underscored that businesses remain cautious about restocking their depleted shelves.
WASHINGTON | The Federal Reserve seems likely to keep interest rates at record lows for several more months after news Friday that consumer prices excluding food and energy fell in January.
WASHINGTON | American families were squeezed last year as their inflation-adjusted weekly wages fell 1.6 percent -- the sharpest drop since 1990 -- even as consumer prices rose only modestly.
WASHINGTON | Retail sales unexpectedly fell in December, leaving 2009 with the biggest yearly drop on record and highlighting the formidable hurdles facing the economy as it struggles to recover from the deepest recession in seven decades.
WASHINGTON | The U.S. trade deficit jumped to the highest level in 10 months as an improving U.S. economy pushed up demand for imports. However, exports rose as well, boosted by a weaker dollar, supporting the view that American manufacturers will be helped by a rebounding global economy.
WASHINGTON | The number of newly laid off workers filing claims for unemployment benefits unexpectedly rose last week as the recovery of the nation's battered labor market proceeds in fits and starts.
WASHINGTON | The Obama administration has extended the $700 billion financial bailout program until October, setting up a struggle between Democrats who favor using some of the leftover money to help generate jobs and Republicans who say it should be used to shrink soaring budget deficits.
WASHINGTON | In a hopeful sign, the number of newly laid-off workers filing claims for unemployment benefits fell more than expected last week, dropping below 500,000 for the first time since January.
WASHINGTON | Companies across the economy are finding ways to do more with fewer workers, dimming hopes that hiring will take off anytime soon.
WASHINGTON | Hopes for the fledgling economic recovery got a boost Monday from better-than-expected news on manufacturing, construction and contracts to buy homes.
WASHINGTON | Flat incomes suggest more weakness ahead in consumer spending, reinforcing concerns about a ho-hum holiday shopping season and a sluggish economic recovery.
WASHINGTON | The Treasury Department on Thursday ordered seven companies that received billions of dollars in government bailouts to halve total compensation for their top executives. But the big reductions will not apply to pay earned before November.
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