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U.S. economy grows 2.6% in fourth quarter, GDP shows

  • January 26, 2018
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The U.S. expanded at a 2.6% annual pace in fourth quarter, extending one of the best stretches of growth during the current eight-and-a-half-year-old upturn. GDP fell short of the 3% forecast, however, owing to lower inventory production and a bigger trade deficit. Consumer spending, the main engine of the economy, rose a strong 3.8%, the

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Trump: U.S. growth be ‘much higher’ than 3%

  • January 26, 2018
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President Donald Trump expects the U.S. economy to continue powering ahead in coming years, saying economic growth is likely to be higher than what most economists currently expect. In an interview aired Friday from the World Economic Forum in Davos, Trump was asked about forecasts that the U.S. economy would expand around 3% in the

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New-home sales droop in December but cap a strong 2017

  • January 25, 2018
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  • realestate

New-home sales were at a 625,000 seasonally adjusted annual rate in December, the Commerce Department said Thursday. Sales of newly-constructed homes swooned in December, and a big jump in November was revised down. December’s rate was 9.3% lower than November, but 14.1% higher than a year ago. The median forecast, among economists surveyed was for

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U.S. jobless claims rise one week after dropping to 45-year low

  • January 25, 2018
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  • realestate

Initial U.S. jobless claims rose by 13,000 to 233,000 in the seven days ended Jan. 20. below the 240,000 forecast of economists. The more stable monthly average of claims fell by 3,500 to 240,000, the government said Thursday.

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Existing-home sales fizzle in December as supply hits an 18-year low

  • January 24, 2018
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  • realestate

Existing-home sales were at a 5.57 million seasonally adjusted annual rate in December, the National Association of Realtors said Wednesday. Sales of previously-owned homes tumbled in December as an ongoing inventory crunch worsened. Existing-home sales were down 3.6% for the month, though they were up 1.1% compared to a year ago. NAR said November’s selling

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Treasury yields pull back slightly as investors focus on economy

  • January 23, 2018
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  • realestate

U.S. Treasurys saw some cautious buying on Tuesday, pushing yields lower, a day after President Donald Trump signed legislation to temporarily end a multiday, partial shutdown of the government.

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Government shutdown: Who is affected and what’s next?

  • January 21, 2018
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  • realestate

The federal government stopped operating at midnight Friday heading into Saturday, halting all but essential services, after the Senate came 10 votes short of reaching a temporary, last-minute funding deal that would have kept the government open through February 16. The shutdown comes on the anniversary of President Trump’s inauguration, and with the GOP in

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No deal to avoid federal government shutdown as deadline passes

  • January 20, 2018
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The deadline arrived without a deal. The U.S. government shut down at midnight Friday after Congress failed to overcome a partisan divide over immigration and spending.

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Consumer sentiment falls to six-month low on concern over prices, uncertain tax-cut benefit

  • January 19, 2018
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  • realestate

The University of Michigan’s consumer sentiment index fell in January to a reading of 94.4, the worst reading since July. Economists polled expected a 98 reading. Confidence has increased substantially since the recession, though it’s still below levels of the internet bubble era.

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San Francisco Fed President John Williams is up for No. 2 Fed post: report

  • January 19, 2018
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  • realestate

John Williams, president of the San Francisco Federal Reserve, is being considered by the White House to become vice chairman of the Federal Reserve Board in Washington, the Wall Street Journal reported Thursday. That would put him in the No. 2 position behind new Fed Chairman Jerome Powell. The Journal reported that other candidates for

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