27 Aug
DANVILLE, Virginia (Reuters) – Richmond Federal Reserve President Jeffrey Lacker was quoted on Thursday as saying the U.S. economy was stabilizing after a painful recession and the shattered housing market will no longer be a drag on economic activity.
“I think the economy is leveling out,” Lacker said in an interview with the Danville Register & Bee newspaper. “I think there is reason for hope.”
26 Aug
Aug. 25 (Bloomberg) — U.S. consumer confidence climbed more than forecast and national home prices increased for the first time in three years, signaling government efforts to right the world’s biggest economy are starting to pay off.
The Conference Board’s confidence index rose to 54.1 in August, the first gain since May, as consumers became less concerned about the outlook for jobs, the New York research group said today. The S&P/Case-Shiller home-price index advanced 2.9 percent in the second quarter from the previous three months, the first increase since 2006 and the biggest in almost four years.
23 Aug
By TOM RAUM (AP)
WASHINGTON — Turnabouts in European and Asian economies, along with recent gains in the U.S., are raising hopes that the worldwide recession is drawing to a close. That’s not to say the coast is clear.
The brightening outlook in Europe and Asia and the improvement in U.S. credit markets and indicators reflect heavy government stimulus spending. Many analysts question whether the top economies can sustain recoveries after stimulus measures and easy-credit policies have run their course — and in the absence of significant new consumer spending, especially among Americans….
22 Aug
NEW YORK (Reuters) – Is it game over for the recession? Or will consumers stay in hibernation?Investors will watch next week’s new home sales and consumer data to see if the economy’s recovery is on track and whether U.S. stocks — now at 2009 highs — will extend their rally. Read more…..
21 Aug
WASHINGTON (Reuters) – “Manufacturing in the U.S. Mid-Atlantic region expanded in August for the first time in 10 months but new filings for unemployment benefits rose last week, an indication weak spending would constrain recovery.” Read the full story:
http://www.reuters.com/article/GCA-Economy/idUSN2051302920090820
21 Aug
Excerpt from Reuters: “The recovery is now expected to be more robust than economists predicted last month, when they saw growth of 0.8 and 1.8 percent in the third and fourth quarters, respectively. The broad U.S. stock market is up 50 percent from March lows.” Read the full story:
http://www.reuters.com/article/GCA-Economy/idUSTRE57J54520090820
21 Aug
July proved to be the best month for existing home sales in 10 months, probably due to the $8,500 tax credit for first-time home buyers.
http://www.reuters.com/article/businessNews/idUSTRE57K0C120090821?feedType=RSS&feedName=businessNews
