||Last Updated: Oct 9, 2015 - 12:32 AM
US private-sector employment rose by only 130,000 from September to October, on a seasonally adjusted basis.
Nov 7, 2013 - 9:28 AM
Economic activity in the US service sector grew in October for the 46th consecutive month, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business.
Nov 5, 2013 - 4:17 PM
Gross capital investment by the US public sector has dropped to just 3.6% of US economic output, the lowest since 1947, compared with a postwar average of 5%, according to figures compiled by the Financial Times, as austerity bites in the world’s largest economy.
Nov 4, 2013 - 7:48 AM
During the US government shutdown and the impending deadline for the raising of the federal debt ceiling, Chinese officials expressed concern about the risk of default and the implications for its holdings of US debt. What is that exposure? Menzie D. Chinn, a professor of public affairs and economics at the University of Wisconsin, Madison, said last week in an issue of the International New York Times: "Foreign entities - - governments, companies and individuals - - hold nearly half of the publicly held debt owed by the United States. Of China’s $3.6trn in foreign exchange reserves, about 60% is estimated to be held in US government securities." This is not correct as the ratio of Chinese reserves invested in US public and private securities in 2012 was below 50%.
Oct 29, 2013 - 7:29 AM
US employers added only 148,000 jobs in September, in a sign that hiring was influenced by Washington's impending gridlock theatrics. The unemployment rate was 7.2%.
Oct 22, 2013 - 2:31 PM
US September jobs data are to be issued today by the Bureau of Statistics of the Department of Labor two-and-a-half-weeks late because of the government shutdown. The numbers were collected in mid-September.
Oct 22, 2013 - 1:52 AM
JP Morgan Chase & Co, America's biggest bank, reached a tentative deal this weekend to pay $13bn to end a number of civil investigations into its sale of mortgage securities before the 2008 financial crisis. However, a separate and potentially more serious criminal probe into the bank and its executives will continue.
Oct 21, 2013 - 3:23 AM
The US Energy Information Administration (EIA) estimates that the United States will be the world's top producer of oil and natural gas hydrocarbons in 2013, surpassing Russia and Saudi Arabia. For the United States and Russia, total petroleum and natural gas hydrocarbon production, in energy content terms, is almost evenly split between petroleum and natural gas. Saudi Arabia's production, on the other hand, heavily favours petroleum.
Oct 7, 2013 - 8:38 AM
US non-financial companies rated by Moody's held $1.48tn in cash at the end of June 2013, the rating agency says in a new report, "Cash Pile Still Growing, at $1.48tn" (only available to clients). The amount sets a new record, having climbed from $1.45tn at the end of 2012. The top 5 tech firms held $515bn and 61% of the total cash hoard is technically held overseas to avoid paying US corporate tax.
Oct 2, 2013 - 9:15 AM
Economic activity in the US manufacturing sector expanded in September for the fourth consecutive month, and the overall economy grew for the 52nd consecutive month, say the nation's supply executives in the latest Institute Of Supply Management PMI (purchasing managers' index) report on manufacturing. In a separate report, manufacturing expansion in the US eased to a three-month low in September, according to the final Markit US Manufacturing PMI.
Oct 1, 2013 - 5:06 PM
Principal news stories from the Irish Independent, Irish Times and Irish Examiner.
Sep 19, 2013 - 3:04 PM
The Fed on Wednesday blinked on its decision to begin the bond-buying taper as Republican Party extremists in the US Congress made clear that they are prepared to risk torching the credit rating of the United States by refusing to support the raising of the federal debt ceiling. Their price for reason: the defunding of President Obama's signature healthcare reform.
Sep 19, 2013 - 8:56 AM
US new-home construction picked up in August, indicating continued gains for the sector despite some recent slackening in demand. Housing starts rose 0.9% from July to a seasonally adjusted annual rate of 891,000.
Sep 18, 2013 - 3:58 PM
The US economy added 2m jobs in the past year while
major stock indexes hit record levels in response to robust corporate profits.
Nevertheless, the inflation-adjusted (real) income for the typical American
household did not rise in 2012 and poverty failed to fall, new data from the
Census Bureau show. The level of income is below what it was in 1989.
Sep 18, 2013 - 8:14 AM
In the aftermath of the collapse of the Lehman Brothers investment bank 5 years ago yesterday, panic gripped Wall Street and barometers of stress hit World War II levels.
Sep 16, 2013 - 7:42 AM
US employers added 169,000 jobs in August but just a revised 104,000 in July, suggesting the labour-market recovery weak possibly deferring the Federal Reserve's plans to reduce its monthly bond-buying. In its monthly employment report released Friday, the Bureau of Labor Statistics of the Labour Department lowered the combined total for job gains in June and July by 74,000. The nation's unemployment rate stood at 7.3% in August, down slightly from 7.4% in July. The broad measure of unemployment fell from 14% to 13.7%.
Sep 6, 2013 - 2:54 PM
Dr Peter Morici: Friday, forecasters expect the US Labor Department to report the economy added 175,000 jobs in August and the unemployment rate remained steady at 7.4%. Although in line with the pace of recent months, recent jobs gains have been heavily weighted toward part-time positions.
Sep 6, 2013 - 8:27 AM
US services activity grew in August for the 44th straight month, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business.
Sep 5, 2013 - 3:58 PM
US private sector employment increased by 176,000 jobs from July to August, according to the August ADP National Employment Report which is produced by ADP in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally adjusted basis. July’s job gain was revised down slightly from 200,000 to 198,000.
Sep 5, 2013 - 3:35 PM
Economic activity in the US manufacturing sector expanded in August for the third consecutive month, and the overall economy grew for the 51st consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business. Meanwhile, the final Markit US Manufacturing PMI fell during August, suggesting a slower rate of manufacturing growth. At 53.1, down from 53.7 in July and below the earlier flash estimate of 53.9, the PMI was consistent with a moderate improvement in overall manufacturing business conditions.
Sep 3, 2013 - 3:58 PM
US second-quarter GDP (gross domestic product) growth was revised sharply up to an annual rate of 2.5%, from an initial estimate of 1.7% according to the Bureau of Economic Analysis. The new data from the Bureau of Economic Analysis of the Commerce Department - - more than double the 1.1% annual growth rate of the first quarter of 2013.
Aug 29, 2013 - 4:13 PM
The Conference Board Consumer Confidence Index, which had declined in July, increased slightly in August. The Index now stands at 81.5 (1985=100), up from 81.0 in July. The Present Situation Index decreased to 70.7 from 73.6. The Expectations Index increased to 88.7 from 86.0 last month.
Aug 27, 2013 - 4:08 PM
US single-family city home prices rose in June but at a slower pace, a closely watched survey showed on Tuesday.
Aug 27, 2013 - 3:59 PM
The Conference Board Leading Economic Index (LEI) for the US increased 0.6 percent in July to 96.0 (2004 = 100), following no change in June, and a 0.3 percent increase in May. Meanwhile, the number of US workers seeking new unemployment benefits rose last week but remained near five-year lows, an indication of an improving labor market. Also Thursday, financial data firm Markit reported that a preliminary PMI (purchasing managers' index) index of factory activity rose in August to 53.9, its best showing since March. A reading above 50 indicates expansion.
Aug 22, 2013 - 5:05 PM
US nonfarm payroll employment increased by 162,000 in July, and the unemployment rate edged down to 7.4%, the US Bureau of Labor Statistics reported today. Over the prior 12-month period, job gains averaged 189,000 per month. In July, employment rose in retail trade, food services, financial activities, and wholesale trade. The broad level of unemployment fell to 14%.
Aug 2, 2013 - 3:26 PM
Two PMI (purchasing managers' index) reports on issued Thursday show a strong rise in US manufacturing in July.
Aug 1, 2013 - 4:13 PM
US Real gross domestic product (GDP) increased at an annualised 1.7% in the second quarter of 2013 after increasing 1.1% in the first quarter, according to the “advance” estimate released today by the Bureau of Economic Analysis.
Jul 31, 2013 - 3:26 PM
US city home prices rose in May, saw rises in Dallas and Denver to all-time highs amid a recovering housing market, according to the S&P/Case-Shiller report released Tuesday.
Jul 30, 2013 - 5:02 PM
The US Consumer Confidence Index, which had improved in June, pulled back slightly in July. The Index now stands at 80.3 (1985=100), down from 82.1 in June. The Present Situation Index increased to 73.6 from 68.7. The Expectations Index decreased to 84.7 from 91.1 last month.
Jul 30, 2013 - 4:58 PM
Four years after the official end of the Great Recession, US economic growth remains lacklustre. But there is more at work here than simply the business cycle: strains in the labour market were apparent long before 2008. Today, labour-force participation is at a 34-year low, and the United States has 2m fewer jobs than it did when the recession began. Weak investment, demographic shifts, and a slowdown in productivity growth are dampening the economy’s trajectory. However, the United States does not have to resign itself to sluggish growth.
Jul 22, 2013 - 9:25 AM
Goldman Sachs's second-quarter net income doubled boosted by rises in fixed income, currency and commodity trading revenue.
Jul 16, 2013 - 3:05 PM
The US West Texas Intermediate (WTI) benchmark for light, sweet crude oil, has risen by 15% since the start of July and the margin with the North Sea benchmark fell to less than $2 a barrel last week. However, this development mainly reflects changes in logistics rather than big moves in demand and supply.
Jul 15, 2013 - 7:49 AM
On Monday, Standard & Poor’s, the world's top credit ratings agency told a court that investors were fools to believe its promise to objectively rate securities, when it admitted the claim was mere “puffery” - - in effect as worthless as the bullshit from a used-car salesman.
Jul 9, 2013 - 7:39 AM
US nonfarm payroll employment increased by 195,000 in June and the unemployment rate was unchanged at 7.6%. Over the prior 12 months, job gains averaged 182,000 per month. In June, employment increased in leisure and hospitality, professional and business services, retail trade, health care, and financial activities. The broad rate of unemployment rose from 13.8% to 14.3%.
Jul 5, 2013 - 3:16 PM
The biggest and most profitable American companies paid only federal corporate tax of 12.6% on world income in 2010, according to a study released this week by the Government Accountability Office.
Jul 5, 2013 - 4:23 AM
US private sector employment increased by 188,000 jobs from May to June, according to the June ADP National Employment Report. The report is derived from ADP’s actual payroll data and measures the change in total nonfarm private employment each month on a seasonally-adjusted basis. May’s job gains were revised downward to 134,000 from 135,000.
Jul 4, 2013 - 7:53 AM
US services activity in June grew for the 42nd consecutive month but at slower pace according to the Institute of Supply Management today.
Jul 3, 2013 - 4:28 PM
Economic activity in the US manufacturing sector expanded in June following one month of contraction, and the overall economy grew for the 49th consecutive month, say the nation's supply executives in the latest Manufacturing Institute of Supply Management (ISM) report. Meanwhile at 51.9, the final Markit US Manufacturing purchasing managers’ index (PMI), using a different sample, signalled only a modest manufacturing expansion in June. Having fallen from 52.3 in May, and dropping below the earlier flash estimate of 52.2, the PMI indicated the slowest rate of growth since last October. The PMI averaged 52.1 in Q2 as a whole. This was down from 54.9 in Q1 and was the lowest reading since Q3 2012.
Jul 1, 2013 - 3:32 PM
Real US gross domestic product -- the output of goods and services produced by labour and property located in the United States -- increased at an annual rate of 1.8% in the first quarter of 2013 (that is, from the fourth quarter to the first quarter), according to the "third" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 0.4%. Today's report is a downgrade on previous estimates.
Jun 26, 2013 - 4:53 PM
The US Consumer Confidence Index, which had improved in May, increased again in June to a five-year high. The Index now stands at 81.4 (1985=100), up from 74.3 in May. The Present Situation Index increased to 69.2 from 64.8. The Expectations Index improved to 89.5 from 80.6 last month.
Jun 25, 2013 - 4:33 PM