Russell Price News
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Jim Brown, owner of JWB Properties LLC, says community banks called him almost every day in 2006 trying to lend him money. Now, his homebuilding business in Atlanta can’t get a loan.
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The U.S. economy grew less than forecast in the first quarter as a drop in defense outlays undercut the biggest increase in consumer spending in two years.
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The Federal Reserve said the U.S. economic expansion remained “moderate” amid gains in manufacturing, housing and autos that offset weakness in defense-related industries in some regions.
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Builders probably began work on U.S. homes in March at the second-fastest pace in almost five years, a sign one of the bright spots of the expansion is making further progress, economists said before reports this week.
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Paul Laney landed a job two months ago as a home inspector in Woodstock, Georgia, as the city added staff to oversee a growing residential construction industry. “I am really ecstatic about it,” said Laney, 52, who closed his own contracting business in 2007.
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Confidence among U.S. consumers stabilized last week, easing concern the latest jump in jobless claims signals a setback in the job market.
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Builders probably began work on more new homes in March, a sign one of the bright spots of the U.S. expansion is making steady progress, economists said before a report today.
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The U.S. job-creation engine sputtered in March as employers hired fewer workers than forecast and a shrinking labor force helped push the unemployment rate down to the lowest in four years.
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Confidence among U.S. consumers unexpectedly increased in March from the prior month as Americans grew more optimistic about the outlook for the economy.
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At Industrial Builders Inc., Paul Diederich plans to boost payrolls about 10 percent this year.
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