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Orders for durable goods fall to 5-month low

  • May 26, 2017
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Orders for long-lasting goods such as planes and appliances fell in April for the first time in five months, suggesting that a resurgent U.S. manufacturing industry has cooled off a bit. Durable-goods orders dropped 0.7% last month amid weakness in most key segments of heavy industry. The decline follows four straight increases, including a revised

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Economy wasn’t as bad as it looked in first quarter, GDP shows

  • May 26, 2017
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Turns out the U.S. economy wasn’t totally asleep in the first three months of 2017: the government raised the growth rate to 1.2% from its original 0.7% estimate.

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Consumer sentiment edges up in May as Americans remain politically

  • May 26, 2017
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Consumer sentiment ticked up fractionally in May as Americans grew more optimistic about economic growth – but more pessimistic about current conditions. The University of Michigan’s closely-watched confidence tracker rose to 97.1 from 97.0 in April. It had touched 97.7 in a mid-May reading, and economists surveyed expected no change from that reading for the

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Low jobless claims look like rerun of early 1970s

  • May 25, 2017
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The number of Americans applying for and receiving unemployment benefits continue to drop to levels last seen nearly a half century ago, a sign the U.S. labor market remains quite robust eight years into an economic expansion. Initial jobless claims rose by 1,000 to 234,000 in the seven days stretching from May 14 to May

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U.S. trade deficit widens in April

  • May 25, 2017
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The advanced U.S. trade deficit in goods widened by 3.8% in April, while retail investors were down 0.3%.

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Fed’s Brainard: Risks to U.S. economy lower due to ‘brighter’ global outlook

  • May 25, 2017
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Federal Reserve Board Governor Lael Brainard said Thursday there is now less risk to the U.S. economy due to a healthier global economy. “As I look out at the global economy today, it is brighter than it has been probably for the last few years,” Brainard said. The euro-area is growing more solidly, the Fed

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Existing-home sales stall in April as tight supply pushes properties to record low time on the market

  • May 24, 2017
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Sales of previously-owned homes sputtered in April after a supercharged first quarter, as lean inventory continued to constrain demand. Existing-home sales ran at a seasonally adjusted annual rate of 5.57 million, the National Association of Realtors said Wednesday. That was a 2.3% decline from March’s selling pace, which was revised down a tick but still

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Fed minutes show broad agreement on approach to start shrinking balance sheet

  • May 24, 2017
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Federal Reserve officials were in broad agreement at their meeting on May 2-3 on a general approach to shrinking the bank’s massive balance sheet, according to minutes of the session released Wednesday. Nearly all Fed officials said they were content with a plan to end the reinvestment of principal of maturing securities – the main

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New home sales tumble in April after soaring to 10-year high in March

  • May 23, 2017
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Sales of newly-constructed homes stumbled in April, as builders retreated after a March surge that marked the strongest selling pace in a decade. New home sales ran at a seasonally adjusted annual rate of 569,000. That was well below the consensus forecast of a 610,000 annual pace, but was offset by sharp upward revisions to

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U.S. economy shows slightly faster pulse in May

  • May 23, 2017
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A pair of surveys of American businesses in May shows the U.S. economy is still growing steadily, though manufacturers that provide many blue-collar jobs have cooled off in the past few months. IHS Markit said its manufacturing PMI slipped to 52.5 this month from 52.8, marking an eight-month low. Manufacturers saw a surge that began

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