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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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