By Jim Puzzanghera, Don Lee
July 30, 2014
The economy’s strong second-quarter growth showed the recovery has regained momentum after a brutal winter and could signal a quicker end to the era of rock-bottom interest rates.
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Archive for the ‘ U.S. Department of Commerce ’ Category
Saturday, May 31, 2014 - 10:00 a.m.
Here’s some news flowing across the transom this week, in case you missed it!
Sterling Trust sells Los Angeles Clippers
The Sterling Family Trust and Shelly Sterling has agreed to sell the Los Angeles Clippers to Former Microsoft Executive Steve Ballmer for $2 billion.
Monday, February 3, 2014 - 09:30 a.m.
Here’s some news flowing across the transom both Monday morning, and last week, in case you missed it.
Yellen takes over at Fed
Janet Yellen officially replaced Ben Bernanke as Chair of the Federal Reserve on Monday. Expect the continued reduction in stimulus to continue. There really is no choice.
The Fed balance sheet is over $4 trillion in printed money. A number not included in the nation’s $17 trillion debt.
Thursday, February 28, 2013 - 09:30 a.m.
Here’s some news of interest flowing across the transom this Thursday morning.
San Bernardino County tally for Dorner manhunt at $550,000
The San Bernardino County Sheriff’s Department has pegged the cost of the manhunt for Former Los Angeles Police Department Officer Christopher Dorner at $550,000. The amount consists primarily of salary and overtime-related costs.
Wednesday, January 30, 2013 - 10:00 a.m.
The U.S. economy contracted at a rate of 0.1% in the 4th quarter of 2012 according to the Commerce Department. The unexpected drop follows a positive rate 0f 3.1% in Q3.
Last updated: December 22, 2011 3:20 pm
By Johanna Kassel in New York
The US economy grew at a slower rate than initially thought in the third quarter after personal spending was less than expected, according to the final gross domestic product reading for the period.
The economy expanded at a rate of 1.8 per cent, the US Department of Commerce said on Thursday. The economy grew by 1.3 per cent in the second quarter.
The downward revision was mainly attributed to lower personal consumption.
Sunday, July 31, 2011 - 11:25 a.m.
For months InlandPolitics.com has been warning of a second recession. A recession that will be even worse than the previous.
And last weeks report on the U.S. economy should be taken as a precursor to such a recession.
Filed under: Budget, Business, Cities, Economy, Finance, In the News, San Bernardino, U.S. Department of Commerce, U.S. Government
Economic Report
April 28, 2011, 10:29 a.m. EDT
Inflation measures pick up
By Greg Robb, MarketWatch
WASHINGTON (MarketWatch) — The U.S. economy slowed markedly in the first quarter and inflation accelerated, clear evidence of the double whammy on the economy from higher gasoline prices.
Filed under: Business, Economy, Finance, In the News, Investments, U.S. Department of Commerce, U.S. Government
Growth slightly slower at year’s end than first thought; states cut spending more deeply
Jeannine Aversa, AP Economics Writer
On Friday February 25, 2011, 9:19 am EST
WASHINGTON (AP) — Deeper spending cuts by state and local governments weighed down U.S. economic growth in the final three months of last year. The government’s revised estimate for the October-December quarter illustrates how growing state budget crises could hold back the economic recovery.
Filed under: Budget, Business, Economy, Finance, In the News, U.S. Department of Commerce, U.S. Government
Money & Company
Tracking the market and economic trends that shape your finances.
February 25, 2011 | 6:18 am
Economic growth for the final three months of last year was revised downward to an annualized rate of 2.8% by government statisticians Friday, another indication of the struggling recovery from the recession as turmoil in the Middle East threatens further problems.
The nation’s measure of economic growth shows a modest 2.4% gain in spring, compared to a 3.7% rise earlier in the year, more evidence the fragile recovery is losing steam, a Commerce Department report says.
By Don Lee, Los Angeles Times
July 30, 2010|6:43 a.m.
Reporting from Washington —
A new government report Friday showed that U.S. economic growth slowed sharply in the spring, providing more evidence that the fragile recovery is losing momentum and is unlikely to generate many jobs anytime soon.
The nation’s economy grew at a modest 2.4% annual rate in the April-to-June period, the Commerce Department said in its first estimate of gross domestic product for the second quarter.
By Timothy R. Homan - Jul 30, 2010 6:41 AM PST Fri Jul 30 13:41:41 UTC 2010
July 30 (Bloomberg) —
Growth in the U.S. slowed to a 2.4 percent annual rate in the second quarter, less than forecast, reflecting a larger trade deficit and an easing in consumer spending.
The increase in gross domestic product compared with a median forecast of 2.6 percent of economists surveyed by Bloomberg News and follows an upwardly revised 3.7 percent pace in the first quarter that showed a jump in inventories, according to figures from the Commerce Department today in Washington. Business investment climbed at the fastest rate since 1997.
Economy surges at 5.9 percent pace in Q4, but growth spurt unlikely to last; home sales sink
By Jeannine Aversa, AP Economics Writer
On Friday February 26, 2010, 1:26 pm
WASHINGTON (AP) — The economy rocketed ahead at a 5.9 percent pace in the final quarter of 2009, stronger than initially estimated. But the growth spurt isn’t expected to carry over into this year.
The fresh reading on the nation’s economic standing, released by the Commerce Department on Friday, was better than the government’s initial estimate a month ago of 5.7 percent growth. It would mark the strongest showing in six years.
Reuters - Homes under construction are seen in Walnut, California, February 16, 2010. REUTERS/Mario Anzuoni …
On Wednesday February 24, 2010, 10:23 am
WASHINGTON (Reuters) - Sales of newly built single-family homes unexpectedly fell to a record low in January, according to government data on Wednesday that hinted at potential trouble for the fragile housing market recovery.
The Commerce Department said sales dropped 11.2 percent to a 309,000 unit annual rate, the lowest level since records started in January 1963, from an upwardly revised 348,000 in December.