Joel Naroff News
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Just a year since the U.S. housing market hit bottom after the biggest plunge in eight decades, signs of excess are re-emerging.
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New Jersey’s economy is poised to recover as officials practice fiscal restraint and fewer residents move out of state, said Joel Naroff, president and founder of Naroff Economic Advisors.
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The U.S. economy expanded less than forecast in the first quarter as a smaller contribution from inventories overshadowed the biggest gain in consumer spending in more than a year.
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Service industries in the U.S. unexpectedly grew at a faster pace in November, showing the biggest part of the economy is weathering concern about looming federal tax increases and spending cuts.
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The number of U.S. workers on vacation has risen by the most since 2006, a sign of an improving labor market as more Americans have sufficient income and job security to take a few days off.
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Manufacturing in the U.S. probably cooled in November as business demand slowed and disruptions from superstorm Sandy limited production, according to economists surveyed before a report today.
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Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, said he was “stunned” by today’s U.S. employment report.
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Companies added more workers than forecast in August, easing concern the U.S. job market may be stalling, a private report based on payrolls showed.
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Business activity in the U.S. held near a 10-month high in March, showing the economy is weathering rising fuel costs.
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Orders placed with U.S. factories unexpectedly declined in June, reflecting less demand for business equipment and the biggest decrease in bookings for non- durable goods in more than three years.
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