Omair Sharif News
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American consumers, who kept shopping through rising fuel costs and delayed tax refunds, will probably continue buoying the world’s largest economy as these hurdles dissipate.
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The cost of living in the U.S. was little changed in January for a second month as a drop in energy costs made up for gains in other goods and services.
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The worst U.S. drought in at least 50 years may restrain consumer confidence and spending as it pushes Americans’ grocery bills higher later this year.
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Consumer spending in the U.S. is rising even though hourly pay isn’t. The reason: More Americans are finding jobs and putting in longer hours in the office and on the factory floor.
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The U.S. economy grew at a 3.1 percent annual rate in the third quarter, more than previously reported, reflecting the first gain in state and local government spending in three years, more consumer purchases and a smaller trade gap.
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The cost of living in the U.S. was little changed in July for a second month, showing companies lack pricing power.
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The number of Americans filing first-time claims for unemployment insurance payments rose for the first time in five weeks, a sign further improvement in the labor market depends on faster economic growth.
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The trade deficit in the U.S. widened in January to the largest since October 2008 as imports rose to a record high.
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The cost of living in the U.S. probably rose in September for a second month as a jump in energy expenses overshadowed smaller gains in other goods and services, economists said before a report today.
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Wholesale prices in the U.S. increased in August by the most in more than three years, reflecting a surge in energy costs.
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