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CompareCC News Archive Listing for Economy during 2007-06.
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Incomes fall but spending increases
 
AP - Consumers' incomes dipped in April but that didn't stop them from spending briskly. The Commerce Department reported Friday that personal incomes fell by 0.1 percent in April, following a robust increase of 0.8 percent in March.
Greenspan promises surprises in September book
 
Reuters - Former U.S. Federal Reserve Chairman Alan Greenspan promised on Friday to deliver surprises and insights about the future in an eagerly awaited book, but he gave little away for now beyond saying interest rates were low.
US economy shows signs of vigor, but questions remain
 
AFP - The latest economic data point to an acceleration in the US economy after the weakest growth in over four years, but some analysts say a full recovery is not yet in sight.
Factory orders post weak advance
 
AP - Orders to U.S. factories posted a weaker-than-expected gain in April as declines in demand for cars, planes and boats offset strength in business investment.
U.S. service sector expands
 
AP - The nation's service sector expanded at a faster-than-expected pace in May, suggesting it could help sustain broader economic growth as the automotive and housing industries slump, a research group said Tuesday.
Auto industry execs to visit Congress
 
AP - The heads of the domestic auto industry are pressing congressional leaders to revisit a plan to increase fuel efficiency standards that automakers say could hurt their industry.
Jobless claims off for 2nd straight week
 
AP - Applications for unemployment benefits dipped for a second straight week, indicating the labor market remains healthy despite a yearlong slowdown in economic growth.
Trade deficit improves in April
 
AP - The trade deficit dropped sharply in April even though the politically sensitive imbalance with China increased to the highest level in three months. Strong overseas demand pushed American exports to an all-time high.
Blue Chip forecasts slowed consumer spending this year
 
Reuters - U.S. consumers will curb spending this year after being hit by continued troubles in the housing sector, but business investment is set to pick up, adding to economic growth later this year, according to a survey of economists released on Sunday.
Japan's economy again outshines U.S., euro zone
 
Reuters - Japan's economy outperformed both the United States and the euro zone in January-March for the second straight quarter, reinforcing expectations the Bank of Japan will raise rates in August.
Federal deficit sharply lower
 
AP - The federal deficit is running sharply lower through the first eight months of this budget year as growth in revenues continues to outpace the growth in spending.
Retail sales, import prices surge
 
Reuters - Retail sales rose more than twice as much as expected in May, while import prices surged, adding to recent data suggesting the U.S. economy is recovering strongly after a slowdown in the first quarter.
European 1Q labor costs rise 2.2 pct
 
AP - Labor costs in the 13 nations that use the euro rose 2.2 percent in the first three months of 2007 compared with a year ago, the European Union's statistics agency said Thursday.
Chinese investment quickens, fuels tightening talk
 
Reuters - China's spending on fixed assets such as roads and power plants accelerated in the first five months of the year, prompting predictions of imminent monetary tightening to slow the world's fourth-largest economy.
T-Bill rates decline
 
AP - Interest rates on short-term Treasury bills fell in Monday's auction to the lowest levels in more than a year.
Housing starts slip in May, but permits up
 
Reuters - U.S. home construction fell last month for the first time since January, as builders struggled with a glut of unsold homes, but permits for future construction rose, offering mixed signals on the housing outlook.
Jobless claims jump unexpectedly
 
AP - The number of newly laid off workers filing claims for unemployment benefits shot up unexpectedly last week, rising to the highest level in two months.
US economy 'uncomfortably' close to stalling: IMF
 
AFP - The US economy appears to be emerging from a period of sluggish growth but is "uncomfortably close" to the "stall speed" associated with past recessions, the International Monetary Fund said Friday.
Home sales hit slowest pace in 4 years
 
AP - Reflecting further housing troubles, sales of existing homes fell in May to the lowest level in four years while the median home price dropped for a record 10th consecutive month.
New home sales ease, while confidence falls
 
Reuters - U.S. new home sales in May fell more than expected while consumer confidence in June fell to a 10-month low amid anxiousness about jobs and the business climate, adding to signs of sluggish economic growth this year.
Jobless claims drop by 13,000
 
AP - The number of new people signing up for unemployment insurance declined last week, a sign that the nation's job market remains in good shape.
Fed statement supports dollar
 
FT.com - The dollar advanced against the yen on Friday after the Federal Reserve restated its concern over the potential build-up of inflationary pressures in the US economy.

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