Orders for U.S. durable goods climbed more than forecast in February as companies looked past budget squabbles in Washington and focused on expanding capacity to meet growing demand.
The “R” word that economists were using after yesterday’s news that U.S. gross domestic product contracted in the fourth quarter was rebound, not recession.
Orders for durable goods in the U.S. rose in December for an unprecedented fourth consecutive month, indicating manufacturing will keep improving in 2013.
The equilibrium level of U.S. joblessness has climbed as a result of the surge in long-term unemployment caused by the recession, according to Barclays Capital Inc.
Retailers and restaurants are raising consumer prices to help compensate for higher labor costs, which increased the most in almost three years during the second quarter.
Fewer Americans filed applications for unemployment benefits last week, a sign the labor market may keep improving after hiring picked up in July.
Consumer spending in the U.S. climbed in March after the biggest gain since August 2009, and incomes picked up, indicating the biggest part of the economy will help sustain the expansion.
Business activity in the U.S. expanded in April at the slowest pace since the end of 2009, adding to evidence that manufacturing is cooling.
Manufacturing in the Philadelphia region shrank in June at the fastest pace in almost a year, showing the global economic slowdown is holding factories back.
Sales of company bonds in the U.S. soared to the fastest pace since March this week, five times quicker than global issuance, as cash-flush investors push yields to record lows.
"The global backdrop has improved."
- Peter Newland on Jan 28, 2013