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BUSINESS
March 17, 2002
As sales of existing homes hit a record 6.9 million in January, and with other economic indicators showing growth, the chief economist at Freddie Mac said he believes the recession is over. "With mortgage rates averaging one-eighth of a percentage point lower in February, the continued vitality of housing demand is assured," said Frank Nothaft of Freddie Mac, the federally chartered company that supplies lenders with funds by purchasing mortgages. Nothaft said in a report that he expects long-term interest rates to remain low because of expected low inflation.
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BUSINESS
By McClatchy-Tribune | January 31, 2009
WASHINGTON - As bad as yesterday's grim government report on economic growth was, it points to even worse times ahead. The collapse of exports, industrial production and the inability of companies to sell their products all portend an even deeper contraction as the U.S. and global economies sink further in the weeks and months ahead. The Commerce Department reported that the U.S. economy contracted 3.8 percent in the final three months of last year, the biggest such quarterly shrinkage in almost 27 years.
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BUSINESS
By BLOOMBERG NEWS | April 6, 2004
NEW YORK -- A gauge of U.S. service industries unexpectedly jumped to a record last month as orders and employment climbed, and a survey of chief executive officers found their confidence in the economy is the highest in more than 20 years. The Institute for Supply Management's index of financial services, construction, retail and other nonmanufacturing enterprises rose to 65.8 last month from 60.8 the month before, exceeding the previous record of 65.7 in January. Readings higher than 50 indicate expansion.
BUSINESS
By BLOOMBERG NEWS | April 6, 2004
NEW YORK -- A gauge of U.S. service industries unexpectedly jumped to a record last month as orders and employment climbed, and a survey of chief executive officers found their confidence in the economy is the highest in more than 20 years. The Institute for Supply Management's index of financial services, construction, retail and other nonmanufacturing enterprises rose to 65.8 last month from 60.8 the month before, exceeding the previous record of 65.7 in January. Readings higher than 50 indicate expansion.
BUSINESS
By Los Angeles Times | December 30, 1993
The government's chief gauge of future economic strength rose a healthy 0.5 percent last month, and home sales nationwide hit a record high, according to reports released yesterday. The reports appeared to assure that the recovery will continue well into next year.Rising orders for manufacturing equipment and fewer first-time lTC claims for unemployment benefits helped push the closely watched Index of Leading Indicators higher in November for the fourth month in a row, the Commerce Department reported.
BUSINESS
By Jay Hancock | January 26, 1997
THE ECONOMY, about to enter its seventh year of expansion, booked a good 1996 and showed signs of speeding up at the end of the year.Often this is just when the Federal Reserve starts tightening the money supply to prune inflationary sprouts. An accelerating economy, especially late in an expansion, is often fertile ground for price growth.A smaller money supply tends to cause higher interest rates, and last week's gyrations on Wall Street were driven in no small dose by fears of inflation and higher rates.
NEWS
By Bill Atkinson and Bill Atkinson,SUN STAFF | November 18, 1998
The Federal Reserve Board cut interest rates yesterday for the third time in seven weeks to help boost fragile economies around the world and keep U.S. markets rolling.Economists applauded the move by the Fed's policy-setting arm -- the Federal Open Market Committee -- and they expect further cuts later this year and next year."This is not about the domestic economy," said Alan Levenson, chief economist at Baltimore-based T. Rowe Price Associates Inc."The domestic economy has been fine. The global markets are on the mend, and they wanted to keep it that way."
BUSINESS
By NEW YORK TIMES NEWS SERVICE | December 11, 1996
WASHINGTON -- Joseph E. Stiglitz, who served for the last year and a half as chairman of the White House's Council of Economic Advisers, said he would leave the Clinton administration early next year to become chief economist at the World Bank.Stiglitz's departure, which had been expected, leaves PresidentClinton with another post to fill as he continues to consider possible choices to lead the Commerce, Labor, Energy, Transportation and Housing departments as well as the National Economic Council.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | December 4, 1997
NEW YORK -- Despite economic turmoil in Asia, the U.S. economy should continue to hum along next year, and the environment for stocks appears "outstanding," the chief economist at T. Rowe Price Associates Inc. said yesterday.Paul W. Boltz, chief economist with the Baltimore-based mutual fund company, expects low inflation and the economy to grow about 2.5 percent next year, keeping in tact the country's seven-year business expansion.Nevertheless, T. Rowe Price executives said they expect the stock market to continue to be volatile and to grow far more modestly -- in the 5 percent to 9 percent range -- than it has over the past three years.
BUSINESS
By McClatchy-Tribune | January 31, 2009
WASHINGTON - As bad as yesterday's grim government report on economic growth was, it points to even worse times ahead. The collapse of exports, industrial production and the inability of companies to sell their products all portend an even deeper contraction as the U.S. and global economies sink further in the weeks and months ahead. The Commerce Department reported that the U.S. economy contracted 3.8 percent in the final three months of last year, the biggest such quarterly shrinkage in almost 27 years.
BUSINESS
March 17, 2002
As sales of existing homes hit a record 6.9 million in January, and with other economic indicators showing growth, the chief economist at Freddie Mac said he believes the recession is over. "With mortgage rates averaging one-eighth of a percentage point lower in February, the continued vitality of housing demand is assured," said Frank Nothaft of Freddie Mac, the federally chartered company that supplies lenders with funds by purchasing mortgages. Nothaft said in a report that he expects long-term interest rates to remain low because of expected low inflation.
NEWS
By Bill Atkinson and Bill Atkinson,SUN STAFF | November 18, 1998
The Federal Reserve Board cut interest rates yesterday for the third time in seven weeks to help boost fragile economies around the world and keep U.S. markets rolling.Economists applauded the move by the Fed's policy-setting arm -- the Federal Open Market Committee -- and they expect further cuts later this year and next year."This is not about the domestic economy," said Alan Levenson, chief economist at Baltimore-based T. Rowe Price Associates Inc."The domestic economy has been fine. The global markets are on the mend, and they wanted to keep it that way."
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | December 4, 1997
NEW YORK -- Despite economic turmoil in Asia, the U.S. economy should continue to hum along next year, and the environment for stocks appears "outstanding," the chief economist at T. Rowe Price Associates Inc. said yesterday.Paul W. Boltz, chief economist with the Baltimore-based mutual fund company, expects low inflation and the economy to grow about 2.5 percent next year, keeping in tact the country's seven-year business expansion.Nevertheless, T. Rowe Price executives said they expect the stock market to continue to be volatile and to grow far more modestly -- in the 5 percent to 9 percent range -- than it has over the past three years.
BUSINESS
By Jay Hancock | January 26, 1997
THE ECONOMY, about to enter its seventh year of expansion, booked a good 1996 and showed signs of speeding up at the end of the year.Often this is just when the Federal Reserve starts tightening the money supply to prune inflationary sprouts. An accelerating economy, especially late in an expansion, is often fertile ground for price growth.A smaller money supply tends to cause higher interest rates, and last week's gyrations on Wall Street were driven in no small dose by fears of inflation and higher rates.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | December 11, 1996
WASHINGTON -- Joseph E. Stiglitz, who served for the last year and a half as chairman of the White House's Council of Economic Advisers, said he would leave the Clinton administration early next year to become chief economist at the World Bank.Stiglitz's departure, which had been expected, leaves PresidentClinton with another post to fill as he continues to consider possible choices to lead the Commerce, Labor, Energy, Transportation and Housing departments as well as the National Economic Council.
BUSINESS
By Los Angeles Times | December 30, 1993
The government's chief gauge of future economic strength rose a healthy 0.5 percent last month, and home sales nationwide hit a record high, according to reports released yesterday. The reports appeared to assure that the recovery will continue well into next year.Rising orders for manufacturing equipment and fewer first-time lTC claims for unemployment benefits helped push the closely watched Index of Leading Indicators higher in November for the fourth month in a row, the Commerce Department reported.
NEWS
May 19, 1995
Lyford Greene, 91, a former chief economist of AT&T who helped influence federal regulation of the telephone system, died Tuesday of complications from heart disease at White Plains (N.Y.) Hospital. He was chief economist at AT&T when the federal government was increasing its regulation of public utilities and their pricing policies. He was a strong proponent of the notion that capital-intensive industries, like the telephone system, need to earn a sufficient rate of return on their investments in plant and equipment.
NEWS
January 11, 2006
"We have a sturdy job market." Mark M. Zandi Chief economist at Moody's Economy.com, saying that he expects another 2 million jobs to be created this year and that the average unemployment rate for all of 2006 will move lower.
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