Ken Mayland News
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Manufacturing in the New York region unexpectedly shrank in May as factories received fewer orders and sales stagnated.
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U.S. Treasury Secretary Jacob J. Lew called for changes in the tax code, more investment in technology and stronger manufacturers to accelerate the growth of the world’s largest economy.
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Construction spending in the U.S. rose in February, paced by the highest level of home building in more than four years.
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Income gains in the U.S. are slowing and workers’ slice of the earnings pie is shrinking, raising the risk that consumer spending slackens next year.
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Atlantic superstorm Sandy may cut U.S. economic growth as it keeps millions of employees away from work and shuts businesses from restaurants to refineries in one of the nation’s most populated and productive regions.
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Retail sales probably improved for a second month in August as consumers overcame a lack of jobs and stagnant wages, economists said before a report today.
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A rebound in U.S. auto sales has been buoyed by the return of easy lending, even to borrowers with flawed credit histories. Some economists question whether the gains can be sustained without a boost in hiring.
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Manufacturing in the New York region contracted more than forecast in September as orders shrank, a sign the world’s largest economy will get less support from the industry.
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Americans are likely to keep rebuilding their savings for years to come as the specter of job losses and the meltdown in stocks triggered by the recession lingers, economists say.
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