Credit, Economy and Business Finance News

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04/14/2010 - U.S. Trade Imbalance Widens in February
The U.S. trade deficit widened in February as a gain in exports to the highest level in 16 months was offset by a bigger jump in imports, reflecting increased demand for consumer goods and a slowly rebounding economy.

04/14/2010 - Economists Expect Sluggish Recovery
The economic recovery will move fitfully and at a sluggish pace over the next two years because the two pillars of financial security – jobs and home prices – will remain shaky.

04/14/2010 - Consumers Still Reluctant to Borrow
Consumer borrowing fell in February, the 12th drop in the last 13 months, reflecting weakness in credit card spending and auto loans.

04/14/2010 - Inflation Remains in Check
The Labor Department said consumer prices grew a modest 0.1% in March, as a fragile economy kept prices in check.

04/14/2010 - Retail Sales Surge in March
Retail sales advanced for the third straight month in March, due to milder weather, an early Easter season and incentives by automakers to buy vehicles.

04/08/2010 - Pending Home Sales Index Surges
In a sign that the housing market may be getting a spring in its step, the National Association of Realtors said pending home sales jumped considerably in February.

04/08/2010 - Manufacturing Activity Surges in March
Manufacturing Activity expanded at its fastest pace in 5 ½ years, as factories boosted production for exports and for companies who are replenishing inventories.

04/08/2010 - Employers Hire 162,000 Workers in March
The Labor Department said employers added 162,000 jobs in March, the largest job gain in three years, a sign that the labor market is turning around.

04/01/2010 - Factory Orders up in February
The Commerce Department reported that factory orders grew 0.6% in February, the tenth gain in the past 11 months.

04/01/2010 - Incomes Flat, Spending up in February
Personal incomes were flat in February, following a 0.3% gain in January, the Commerce Department reported.

04/01/2010 - GDP up 5.6% in Final 4Q Estimate
In its third and final estimate of 4Q economic activity, the Commerce Department reported that the nation’s gross domestic product surged at a 5.6% annual rate.

04/01/2010 - Consumer Confidence Rebounds in March
Following a sharp drop in February, consumer confidence picked up in March, although Americans remain cautious about the prospects of an economic recovery.

03/25/2010 - Durable Goods Orders up for Third Straight Month
Orders for durable goods increased for the third consecutive month in February, bolstered by strong demand for commercial aircraft and machinery – raising hopes that continued strength in manufacturing will help sustain the economic recovery.

03/25/2010 - New Home Sales Hit Record Low
New home sales fell to the lowest record on level in February, as fierce snowstorms kept buyers on the sidelines.

03/25/2010 - Blizzards Chill Existing Home Sales in February
The National Association of Realtors (NAR) said existing home sales fell 0.6% in February to an annual rate of 5.02 million, the third straight decline.

03/25/2010 - Inflation in Check
The Labor Department reported that consumer prices were unchanged in February, a sign that the weak economy is keeping inflation in check.

03/25/2010 - Leading Indicators Point to Slow Growth Ahead
The Conference Board’s Index of Leading Economic Indicators – considered a barometer of future economic activity – posted its smallest gain in 11 months in February, signaling slow economic growth for the spring and summer.

03/17/2010 - Trade Deficit Unexpectedly Drops in January
After widening substantially for two months, the U.S. trade deficit narrowed unexpectedly in January, suggesting that the economic recovery is fragile.

03/17/2010 - Producer Prices Down in February
The Labor Department said producer prices fell 0.6% in February, the largest amount in seven months, as a big drop in energy prices offset higher food costs.

03/17/2010 - Industrial Production up Slightly in February
The Federal Reserve reported that industrial production edged up 0.1% in February, the eighth straight monthly gain, following a 0.9% increase in January.

03/17/2010 - Pace of Foreclosure Growth Slows
RealtyTrac Inc. said the number of U.S. households facing foreclosure in February grew 6% from the year-ago level, the smallest annual increase in four years.

03/17/2010 - Housing Starts Drop in Snowy February
The Commerce Department said construction of new homes and apartments fell 5.9% in February to a seasonally adjusted annual rate of 575,000 units.

03/17/2010 - Americans’ Net Worth Rising
Americans regained more of their depleted wealth in the 4Q, as the budding economic recovery gave stock portfolios a shot in the arm, but the gain was less than in the previous two quarters.

03/17/2010 - Consumer Sentiment Dips in Early March
U.S. consumer sentiment declined slightly in early March, as Americans remained sour about the job market.

03/17/2010 - Fed Likely to Leave Rates Alone for Extended Period
Not surprisingly, The Federal Reserve kept the federal funds rate at a record low of near zero, in an effort to spur economic growth.

03/17/2010 - Retail Sales up in February despite Snowstorms
Despite major snowstorms that blanketed various parts of the country retail sales grew in February, a signal that the nascent economic recovery is picking up momentum.

03/11/2010 - Durable Goods Orders up in January
Businesses cut inventories at the wholesale level again in January even though sales rose for a 10th straight month.

03/11/2010 - Housing Recovery Stalls
Pending home sales plunged in January, a sign that demand for housing has been dampened by stormy weather this winter.

03/11/2010 - Consumer Borrowing up after 11 Straight Monthly Declines
After 11 straight monthly declines, consumer borrowing increased in January, as a boost in auto loans offset continued weakness in credit card borrowing.

03/11/2010 - Unemployment Stays at 9.7%
Employers cut 36,000 jobs in February and the unemployment rate remained unchanged at 9.7%, the Labor Department reported.

03/03/2010 - Durable Goods Orders up in January
Durable goods orders grew in January by the largest amount in six months, but the strength came largely from a surge in demand for commercial aircraft.

03/03/2010 - Growth in Manufacturing Slows in February
Manufacturing activity expanded in February for the seventh straight month in February, although the pace of growth slowed from January.

03/03/2010 - Housing Recovery Shaky as New Home Sales Dip
Existing home sales fell sharply for the second straight month in January, another sign that the housing market's recovery is wobbling.

03/03/2010 - Stagnant Incomes May Dampen Recovery
Personal incomes barely budged in January, but that didn’t stop consumers from spending. The Commerce Department reported that personal incomes grew 0.1% in January, while personal spending jumped 0.5%.

03/03/2010 - Solid 4Q GDP Likely to Slow in 1Q
A revised estimate by the Commerce Department showed that the nation’s gross domestic product (GDP) grew at a 5.9% annual rate in the 4Q, up from an initial estimate of 5.7% and the best showing in six years.

03/03/2010 - Consumer Sentiment Down in February
While not fearful of another spike in layoffs, consumers have turned sour about their job and income prospects and have grown impatient with government’s efforts to create jobs.

03/01/2010 - Fed Raises the Discount Rate
The Federal Reserve said it raised the discount rate – the interest rate it charges banks for emergency loans, citing improvement in financial market conditions.

03/01/2010 - New Home Sales Plunge
New home sales unexpectedly fell to a record low in January, dampening hopes that the housing market is poised for a rebound.

03/01/2010 - Consumer Inflation Tame
The Labor Department reported that consumer prices grew a modest 0.2% in January, while prices, excluding food and energy, actually fell for the first time in more than a quarter of a century.

03/01/2010 - Leading Indicators up for Tenth Straight Month
The Conference Board said its index of leading economic indicators – considered a barometer of future economic activity – grew 0.3% in January.

03/01/2010 - Consumer Confidence Plummets in February
The Conference Board said Tuesday its consumer confidence index fell to 46 in February from a revised 56.5 last month, underscoring the still-fragile state of the economy.

02/17/2010 - Industrial Production up for Seventh Straight Month
The major industrial sectors continued to produce more goods, as industrial production grew 0.9% in January, following an upwardly revised 0.7% gain in December, the Federal Reserve reported.

02/17/2010 - Housing Starts up, Permits Down
The Commerce Department said housing starts grew 2.8% in January to a seasonally adjusted annual rate of 591,000 units, reversing a drop in December.

02/17/2010 - Consumer Sentiment Slips in Early February
U.S. consumer sentiment slipped in early February, as Americans expect high unemployment to continue and see little or no gain in income or home values in the year ahead.

02/17/2010 - Retail Sales Get a Lift in January
The Commerce Department reported that retail sales grew 0.5% in January from December, helped by a surge in general merchandise sales.

02/12/2010 - Factory Orders Grow 1% in December
Factory Orders grew significantly in December, adding to evidence that the manufacturing sector is supporting the economic recovery.

02/12/2010 - January Foreclosures Down from December, But up Year-Over-Year
Foreclosure filings fell nearly 10% in January from December, but were up 15% compared to January 2009, RealtyTrac reported.

02/12/2010 - Trade Deficit Shoots up As Economy Strengthens
The U.S. trade deficit surged 10.4% to $40.18 billion in December from November, the Commerce Department reported.

02/12/2010 - Consumer Borrowing Down for 11th Straight Month
Consumer borrowing fell for the 11th consecutive month in December, as American’s continued to pay down credit card debt.

02/12/2010 - Unemployment Rate Dips to 9.7%
Employers shed 20,000 jobs in January, but the unemployment rate dipped to 9.7% from 10%, the Labor Department reported, a sign that the job market is coming to life.

02/08/2010 - Fed Leaves Rates Alone
In what was no surprise, the Federal Reserve kept interest rates at record lows and it pledged to keep them there for an "extended period" to hasten an economic recovery.

02/08/2010 - Durable Goods Orders Up Slightly in December
Durable goods orders grew 0.3% in December, the Commerce Department reported, indicating that the economy continues to recover at a slow pace.

02/08/2010 - Manufacturing Activity Expands in January
The Institute for Supply Management said its manufacturing index climbed to 58.4 in January, compared with 54.9 in December.

02/08/2010 - Incomes and Spending Climb in December
Helped by a one-time social security payment, personal incomes grew 0.4% in December, the Commerce Department reported.

02/08/2010 - Nation’s GDP Gets Boost as Businesses Boost Inventories
Providing further evidence that the protracted recession is over, the Commerce Department reported that the nation’s gross domestic product grew at a 5.7% annual rate in the 4Q, the fastest rate of growth since the 2003 3Q.

01/22/2010 - Foreclosures Still a Big Threat to Recovery
A record 2.8 million households were threatened with foreclosure in 2009, and that number could rise this year as more unemployed and cash-strapped homeowners fall behind on their mortgages.

01/22/2010 - Housing Starts Down in December, but Permits up
The Commerce Department said housing starts fell 4% in December to a seasonally adjusted annual rate of 557,000 units, as starts of single family homes dropped 6.9%.

01/22/2010 - Industrial Production up for Sixth Straight Month
The Federal Reserve said industrial production increased 0.6% in December from November as cold weather gave a boost to energy utilities, which offset a small drop in manufacturing.

01/22/2010 - Inflation Tame for 2009
The Labor Department reported that consumer prices were up a modest 0.1% in December, capping a year in which inflation was tame, although consumers still felt squeezed due to stagnant wages, job losses and higher costs for things like health care and education.

01/22/2010 - Retail Sales Slip in December
The Commerce Department said retail sales declined 0.3% in December compared to November, a disappointment following reports from numerous major department stores, discounters and apparel chains the week before that showed sales gains for many.

01/14/2010 - Trade Deficit Rises as Economy Improves
The Commerce Department reported that the U.S. trade deficit jumped 9.7% to $36.4 billion in November, the highest level in ten months.

01/14/2010 - Consumer Borrowing Falls for 10th Straight Month
Consumer borrowing fell for the tenth consecutive month in November with total credit and borrowing on credit cards falling by the largest amounts on record.

01/14/2010 - Employers Cut 85,000 Jobs in December, Unemployment Rate Unchanged
U.S. employers unexpectedly cut 85,000 jobs in December, dampening hopes that a labor market recovery is pending, while the unemployment rate remained at 10%.

01/14/2010 - Pending Home Sales Plunge
The National Association of Realtors reported that pending existing home sales plunged 16% in November, a sign that sales will be weak this winter.

01/14/2010 - Factory Orders Surge in November
Factory orders surged in November, reflecting strong demand in a number of industries from steel and industrial machinery to computers and chemicals.

01/14/2010 - Manufacturing Activity Expands for Fifth Straight Month
The Conference Board said its index of leading economic indicators, considered a barometer of future economic activity, grew for the eighth consecutive month in November.

12/28/2009 - Leading Indicators up for Eighth Straight Month
The Conference Board said its index of leading economic indicators, considered a barometer of future economic activity, grew for the eighth consecutive month in November.

12/28/2009 - New Home Sales Plunge
In a surprise to many economists who expected a gain, new home sales plunged in November to the lowest level since April, a sign the housing market recovery will be a choppy one.

12/28/2009 - Existing Home Sales Jump 7.4%
Existing home sales climbed 7.4% in November to a seasonally adjusted annual rate of 6.54 million, the National Association of Realtors reported.

12/28/2009 - Income, Spending Gains Give Economy Momentum
Raising hopes that the nascent economic recovery may be getting more traction, the Commerce Department reported that personal incomes grew in November at the fastest pace in six months while consumer spending increased for the second straight month.

12/28/2009 - 3Q Economic Growth Revised Downward
The Commerce Department’s latest reading on the nation’s gross domestic product shows that the economy expanded at a 2.2% annual rate in the 3Q, down from a prior reading of 2.8% growth.

12/21/2009 - Trade Deficit Shrinks in October
The U.S. trade deficit narrowed in October as the weak U.S. dollar helped boost exports and demand for imported oil fell.

12/21/2009 - Foreclosures Down for Fourth Straight Month
The number of homeowners on the brink of foreclosure fell for the fourth consecutive month in November.

12/21/2009 - Output up as Manufacturing Rebounds
The Federal Reserve reported that industrial production climbed 0.8% in November, further evidence that the manufacturing sector is rebounding.

12/21/2009 - Wholesale Prices Jump in November
Producer prices shot up 1.8% in November, the Labor Department reported, reflecting prices gains in energy and other products.

12/21/2009 - Housing Starts Rebound
The Commerce Department reported that housing starts jumped 8.9% in November, following a 10.1% drop in October.

12/21/2009 - Consumer Sentiment Up in Early December
Consumer sentiment improved in early December on signs of stabilization in the labor market, complementing the Commerce Department’s report that November retail sales grew 1.3%.

12/21/2009 - Retail Sales Unexpectedly Rise 1.3%
Retail sales grew a higher-than-expected 1.3% in November, compared to October, as gains were recorded across various categories.

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