The cost of living in the U.S. probably rose in January by the most in four months, boosted by higher prices for food and energy, economists said before a report today.
Lindsey Piegza, an economist at FTN Financial, talks about the outlook for the U.S. economy.
Consumer confidence slumped last week to the second-lowest level on record as Americans grew more concerned with their financial situation and the buying climate worsened.
Service industries in the U.S. probably grew at a faster pace in October, indicating the biggest part of the economy is holding up, economists said before a report today.
Retail sales in the U.S. climbed in July by the most in four months, showing consumers were holding up at the start of the third quarter.
The number of first-time claims for unemployment insurance payments jumped in the first week of 2011 to the highest level since October as more Americans lined up to file following the holidays.
Service industries unexpectedly expanded at a faster pace in August, easing concern the biggest part of the U.S. economy was slumping.
The U.S. lost more jobs than forecast in September as local governments fired educators and other workers to make up for declining tax revenue.
U.S. consumer confidence last week held close to the highest level in almost three years as more Americans said their finances were in good shape.
Prices of goods imported into the U.S. rose in July, led by gains in costs of fuel, industrial supplies and clothing.
"Housing is no longer a net negative dragging down the economy."
- Lindsey Piegza on Dec 19, 2012