Americans look to be in the mood to shop this holiday season as their buying power gets a lift from more plentiful jobs and cheaper gasoline.
This was supposed to be the year that Herb Harrison found a newer, bigger home to replace his current house in Framingham, Massachusetts. Then, in May, mortgage rates began to rise and he put his hunt on hold.
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.
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.
Consumer spending in the U.S. probably climbed in May by the most in three months, led by growing demand for automobiles, economists said before a report this week.
Copper fell the most this month on concern that a bigger-than-expected drop in U.S. durable-goods orders signals slower demand growth in the country, the world’s second-biggest user of the metal.
Business activity in the U.S. held near a 10-month high in March, showing the economy is weathering rising fuel costs.
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.
New Jersey’s high taxes drive out wealthy residents, slowing the state’s recovery, said Charles Steindel, the state treasury department’s chief economist.
Manufacturing in the Philadelphia region expanded at faster pace in January as employment picked up and factories grew more optimistic about business in the next six months.
"The only thing lagging right now is wages."
- Joel Naroff on Sep 04, 2014