U.S. sales of new homes had a better-than-expected rebound in June after falling to record lows in May.
Sales rose 23.6% in June to a seasonally adjusted annual rate of 330,000, the Commerce Department reported Monday.
New-home sales plummeted a revised 36.7% in May to a record low 267,000 level after a federal subsidy for home buyers [...]
Posts Tagged ‘US Economy’
New-home sales rebound from record low in June
July 26th, 2010 by HardMoney Writer
Tags: commerce department, economists, global recovery, Hard Money Loans, home buyers, home sales, homebuilder, housing market, loan, money, US Economy
more...Six Banks Fail Friday
July 18th, 2010 by HardMoney Writer
Regulators closed six banks in three states Friday, bringing this year’s total number of bank failures to 96.
All six failed institutions were included in TheStreet’s Bank Watch List of undercapitalized banks and thrifts, based on first-quarter regulatory data provided by SNL Financial.
The Federal Deposit Insurance Corp. was named receiver and found buyers for all of [...]
Tags: bank of america, bankruptcy, banks, financial crisis, Financial Markets, global economic, money, US Economy, wall street
IMF Says ‘Double-Dip’ in Global Economy Unlikely
July 13th, 2010 by HardMoney Writer
The head of the International Monetary Fund said a reversal of the global economic recovery is unlikely, noting the lender recently raised its growth forecast after a strong first half of the year.
The world economy is “very far from any kind of double dip,” IMF Managing Director Dominique Strauss-Kahn said at a press conference in [...]
Tags: china economy, economic growth, economic recovery, emerging economies, Financial Markets, global economic, IMF, US Economy, world econmic
Fed’s Lacker: Economy Is Recovering Despite Weak Data
July 9th, 2010 by HardMoney Writer
The recent spate of weaker economic data doesn’t mean the U.S. recovery is faltering, and the Federal Reserve continues to get closer to the time when it will need to raise interest rates, a top central bank official said Thursday.
“The economy is still growing,” Federal Reserve Bank of Richmond President Jeffrey Lacker told Dow Jones [...]
Tags: central bank, chief economist, Dow Jones Industrial, economic recovery, European economy, Federal Reserve, interest rates, mortgages, subprime mortgage, unemployment rate, US Economy
Factory orders fall 1.4 percent in May
July 3rd, 2010 by HardMoney Writer
Orders to U.S. factories declined broadly in May after nine straight months of gains, raising new concerns that the recovery is stalling.
The Commerce Department said Friday that orders for cgoods decreased 1.4 percent in May. It was the biggest drop since March 2009.
Excluding the volatile transportation sector, orders fell 0.6 percent. That number fell 0.7 [...]
Tags: business, commerce department, consumers, economy recovery, financial, leading economist, US Economy, us manufacturing
Yen Is Near Highest Since 2001 Against Euro on Slowing Growth
June 29th, 2010 by HardMoney Writer
The yen traded near the strongest level in more than eight years against the euro as signs economies in the U.S. and China are slowing boosted demand for safer assets.
The yen was close to the highest in almost eight weeks against the dollar before reports forecast to show U.S. business activity expanded at a weaker [...]
Tags: bank lending, business, central bank, China, European Central Bank, financial crisis, US Economy
Gold Advances in New York as Investors Seek to Protect Wealth
June 28th, 2010 by HardMoney Writer
Gold rose in New York to within 0.4 percent of a record as investors bought the metal to protect their wealth amid financial market turbulence.
Hedge-fund managers and other large speculators increased their net-long position in gold futures on the Comex in New York by 4 percent to 238,634 contracts in the week ended June 22, [...]
Tags: businesses, Commodities, consumers, Financial Markets, global economic, Gold & Precious Metals, investors, money, US Economy
Recovery fears dog European shares; banks fall
June 24th, 2010 by HardMoney Writer
* FTSEurofirst 300 index down 0.8 pct
* Banks, miners fall on growth worries
* Adidas pressured as Nike warns on costs
European share pricess were down at midday on Thursday, on track for a third straight session of falls as a downbeat assessment of the U.S. economy by the Federal Reserve weighed on sentiment, hitting banks and [...]
Tags: debt crisis, economic recovery, Federal Reserve, financial market, Hard Money Loans, JPMorgan, US Economy
U.S. Consumer Prices Fall on Lower Energy Costs
June 17th, 2010 by HardMoney Writer
Consumer prices fell for the second consecutive month in May, extending a break for Americans’ pocketbooks. Less expensive energy was the main factor pulling down prices.
But a weekly unemployment report found that the number of people filing new claims for jobless benefits jumped last week after three weeks of declines, a sign that hiring remains [...]
Tags: commerce department, consumers, debt crisis, European economy, eurozone economy, financial, financial market, global recovery, unemployment rate, US Economy
Euro Snaps Six-Week Drop Versus Yen as Risk Appetite Increases
June 12th, 2010 by HardMoney Writer
The euro ended its longest stretch of weekly losses against the yen since the shared currency was created as investor appetite for riskier assets improved on signs Europe’s debt crisis is unlikely to derail global growth.
The yen fell against 15 of its 16 most-traded counterparts as stock and oil gains boosted demand for currencies linked [...]
Tags: commerce department, consumers, debt crisis, European economy, eurozone economy, global recovery, JPMorgan, money, stock market, U.S. consumer, US Economy
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