The U.S. trade deficit probably climbed in August on higher crude oil costs at the same time slower global growth reduced demand for American exports, economists said before a report today.
Orders placed with U.S. factories fell in August by the most in more than three years, signaling that slowdowns in business investment and exports restrained the economic expansion.
Construction spending in the U.S. unexpectedly rebounded in August, propelled by the biggest jump in state and local government outlays in more than two years.
Companies in the U.S. added fewer workers last month, according to data from a private survey, pointing to a cooling in the job market, as the Commerce Department also reported a decline in factory orders in March.
Morgan Stanley economists are forecasting “more monetary medicine” as the U.S. labor market buckles and manufacturing output stumbles from the U.K. to China.
Service industries in the U.S. expanded in June at the slowest pace since January 2010, a sign the biggest part of the economy is struggling to gain momentum.
Sales of previously owned U.S. homes in March unexpectedly fell for the third time in the last four months, showing an uneven recovery in the housing market.
Sunoco Inc., the Philadelphia-based company that is exiting refining, rose for a second straight day after announcing plans to boost its dividend and buy back as much as 19.9 percent of its shares.
Builders in the U.S. broke ground on more homes in May as the real estate market showed signs of sustaining recent gains, economists said before a report today.
The biggest gain in consumer spending in a year probably helped the U.S. economy keep expanding in the first quarter even as fuel costs climbed, economists said before a report this week.
"Exports grew weakly because of the spreading economic weakness in Europe and Japan and slowing growth elsewhere in the world."
- Steven Wood on Oct 10, 2012