The US economy grew modestly in recent weeks in nine of the central bank’s 12 districts, in a sure sign that the recession is behind us.
The latest Federal Reserve report on regional economic conditions, called the Beige Book, said the economic growth was somewhat hampered by snowstorms in several districts, notably Richmond.
Overall consumer spending looked [...]
Mar
4
2010
4
2010
Economy shows signs of modest growth
Feb
19
2010
19
2010
Drastic fall in US Bank lending
So far this year Bank lending in the US has slide at the drastic rate. This rate of fall was the fastest in recorded history. So it is raising concerns for the Federal Reserve. Now it has been apprehended that emergency stimulus may have been withdrawn by the reserve.
Lending has fallen by over $100bn (£63.8bn) [...]
Feb
18
2010
18
2010
Economy continues to grow
In what could indicate that the economy is firmly on its way to recovery, economic growth in the US continued in January as manufacturing and housing activity looked up.
As a dampener, however, Fed officials at a meeting last month projected that high unemployment will persist.
To add to the worry, some Fed officials suggested that the [...]
Feb
17
2010
17
2010
Over with Unemployment
Amidst the hazy economic turmoil, suddenly the no. of unemployed people has slightly dipped, showing a fair enough statistics in the previous three months from December, but the rate remains the same, i.e. 7.8 percent unemployment level.
Office for National Statistics depicts the number of unemployed people declined by a 3,000 over the quarter which reached [...]
Feb
15
2010
15
2010
Social security surplus fading away
Social Security surplus in America is getting over, quickly. As per the latest figures released by the government, more than 2.7 million beneficiaries were added to the list of the eligible Americans for their pensions. These retirement benefits are provided through the Social Security Trust Fund, which takes care of all the financial requirements of [...]
Feb
11
2010
11
2010
Fresh jobless number declines
In what could probably be seen as the latest indication of the country coming out of the recession, first-time applicants for state jobless benefits showed a sharp drop last week. This reverses a trend showing gains over the past few weeks.
Initial claims for jobless benefits fell 43,000 to a seasonally adjusted 440,000 in the [...]
Feb
10
2010
10
2010
Home prices slide further
One in five housing markets In the United States entered a second leg of home price declines in late 2009, after showing price increases for nearly half of last year, according to Zillow.com, a real-estate Web site.
Besides, one of every five U.S. home owners had more debts than their property was worth in the fourth [...]
Jan
7
2010
7
2010
BoE leaves rates untouched
In its policy meeting, the BoE decided to keep interest rates unchanged in order to support the economy in its recovery. Further, the central bank left its asset purchase programs unchanged and continued to pursue quantitative easing as the economy claws its way back from the worst post-world war recession.
The central bank however contended that [...]