Ryan Sweet News
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The trade deficit in the U.S. unexpectedly shrank in February as stabilizing overseas markets boosted exports and Americans imported less oil.
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A strengthening job market is helping lift Americans’ spirits, raising the odds the economy will pick up this year as consumers sustain a surprise spending streak.
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Consumer spending in the U.S. rose in January even as incomes dropped by the most in 20 years, showing households were weathering the payroll-tax increase by socking away less money in the bank.
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American factories expanded in February at the fastest pace in almost two years, spurred by a jump in orders that is helping propel an economy about to be tested by federal government cutbacks.
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Confidence among U.S. consumers jumped more than forecast in February as Americans adjusted to a higher payroll tax and signs of a recovering housing market spurred faith in the future.
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Purchases of new homes surged in January by the most in two decades and consumer confidence jumped this month, signs of a rebound in U.S. economic growth at the start of 2013.
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Government spending cuts set to take effect this week will be felt at the local level as everyone from defense contractors in Virginia to waitresses in New Mexico take a hit. The overall impact on the U.S. economy may be more muted.
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Demand for new U.S. homes was stronger than projected in March, showing more jobs and cheaper borrowing costs are helping stabilize the market.
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Ultimate Golf Seating in Elkhart, Indiana, has hired five workers to expand its staff to 10 as orders increase for its custom-made golf-cart seats, which start at $745.
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The productivity of U.S. workers fell more than projected in the fourth quarter as the economy shrank, pushing labor expenses up and showing companies are approaching the limit of how much efficiency they can wring from employees.
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