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CompareCC News Archive Listing for Economy during 2007-08.
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Jobless claims rise 4,000 in latest week
 
Reuters - New applications for jobless benefits rose by 4,000 last week, government data showed on Thursday, underscoring continued strength in the labor market.
US job market cools in July as public payrolls shrink
 
AFP - The US economy eked out 92,000 new jobs in July, weaker than expected due to cutbacks in the public sector, and unemployment was essentially unchanged at 4.6 percent, Labor Department data showed Friday.
Dollar falls to four-month low against yen
 
AFP - The dollar dropped to a four-month low point against the yen and slid against the euro on Monday amid increasing concerns about the US economy, dealers said.
Productivity of American workers rebounds
 
AP - The productivity of American workers rebounded in the spring while wage pressures eased, a combination that should be welcomed at the Federal Reserve.
Cisco CEO sees strong world economy, U.S. bumps
 
Reuters - Cisco Systems Inc. Chief Executive Officer John Chambers said on Wednesday the global economy is the strongest he has seen, but he expects bumps in the U.S. economy in the next few quarters.
Jobless claims rise 7,000 in latest week
 
Reuters - The number of U.S. workers applying for jobless benefits rose by 7,000 last week to a level slightly higher than expected but still underscoring steady labor market conditions, government data on Thursday showed.
Treasury reports lower federal deficit
 
AP - The federal deficit so far this budget year is running sharply lower, driven by record revenues pouring into government coffers.
Solid U.S. retail sales boost hopes for growth
 
Reuters - U.S. consumers spent more freely than expected last month as declining gasoline prices shielded household budgets, government data showed on Monday, helping lift investor spirits after a week of bruising losses.
U.S. Trade deficit falls to 4-month low
 
AP - The U.S. trade deficit dropped to a four-month low in June as record exports of farm goods and autos offset a jump in crude oil prices. Imports from China hit an all-time high despite recalls of tainted Chinese products.
Existing home sales fall in 41 states
 
AP - Sales of existing homes fell in 41 states during the April-June quarter while home prices were down in one-third of the metropolitan areas surveyed, a real estate trade group reported Wednesday.
Home construction down in July
 
AP - Construction of new homes fell to the lowest level in more than a decade in July as builders continued to struggle with the steepest housing slump since 1991.
Fed cuts discount rate to 5.75%
 
FT.com - The Federal Reserve took emergency steps to mitigate the damage to the US economy from the crisis in global credit markets, cutting the discount rate at which it makes loans to banks.
Even after Fed move, credit storm lingers
 
Reuters - Global investors will likely remain wary this week as uncertainty about the credit crisis persists, even after the U.S. Federal Reserve in a rare move last week slashed the rate it charges banks on loans and encouraged more borrowing.
Rates fall on short-term T-bills
 
AP - Interest rates on short-term Treasury bills fell in Monday's auction, with rates on three-month bills sliding to the lowest level in more than two years.
Financial job cuts soar on housing woes
 
Reuters - A deepening U.S. housing slump has caused an alarming surge in job losses at U.S. financial services companies, and the end is nowhere in sight, consulting firm Challenger, Gray & Christmas Inc. said on Tuesday.
Fed cautiously optimistic markets stabilizing: report
 
Reuters - Federal Reserve officials are cautiously optimistic that the steps they have taken to relieve a squeeze in credit markets are working and may wait until their next policy meeting before considering a rate cut, the Wall Street Journal reported on Wednesday.
New applications for jobless claims drop
 
AP - Fewer people signed up for jobless benefits last week, an encouraging sign that most businesses aren't resorting to big layoffs amid a housing slump and the painful credit crunch.
Asian subprime fears grow, Europe calmer
 
Reuters - Three Asian banks' heavy exposure to the limping U.S. home loan sector reinforced global credit jitters on Friday but Germany and Italy saw no signs of new problems.
Group: Bad credit threatening US economy
 
AP - Bad credit has supplanted terrorism as the gravest immediate risk threatening the economy, a key national research group reported Monday.
Analysts mull contagion from US property market woes
 
AFP - An increasingly fragile US economy is facing growing risks from the meltdown in the property market, which threatens to spill over into other sectors as credit markets freeze, analysts say.
Wary calm in Asia ahead of central bank views
 
Reuters - Asia's financial markets got off to a calm start to the week on Monday with investors waiting to hear from top central banks what to make of the turmoil that has kept markets on edge for weeks.
Rate doubts mount as stocks fall after U.S. data
 
Reuters - Central banks signaled that rises in interest rates were less certain than they had indicated just a few weeks ago as weak U.S. housing data sent fresh shivers through world markets.
Asian shares tumble on new US fears
 
AFP - Asian share prices fell sharply Wednesday as anxiety returned over the health of the US economy, raising new fears of a global credit squeeze, dealers said.
Growth recovers but jobless claims up
 
Reuters - The U.S. economy grew at an annual rate of 4 percent in the second quarter, as strong business investment led the fastest pace of expansion since early last year, the government reported on Thursday.
Orders to U.S. factories jump
 
AP - Orders to U.S. factories jumped more than expected in July, following three months of lackluster gains.

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