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Economic Growth

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BUSINESS
September 12, 2002 | FROM INQUIRER WIRE SERVICES
U.S. economic growth slowed in recent weeks, although activity varied widely by industry, the Federal Reserve said yesterday in a report underscoring the patchy nature of the recovery. "Most [of the 12 Federal Reserve] districts indicated slow and uneven economic growth, with mixed or scattered experiences across sectors of the economy," the Fed said in the report, known as the "Beige Book" for the color of its cover, an anecdotal snapshot of economic conditions across the nation.
BUSINESS
July 15, 2011 | By Christopher S. Rugaber and Derek Kravitz, Associated Press
WASHINGTON - A mixed slate of reports Thursday showed the economy is still restrained by high gas prices and sluggish hiring. Economists are forecasting a pickup in growth in the second half of the year, but the latest data revealed only faint signs of a turnaround. In one report Thursday, the Commerce Department said retail sales had ticked up only 0.1 percent in June after declining the previous month. Consumers spent more on cars and in big chain stores in June but less on furniture and appliances.
NEWS
February 23, 1993 | by Jack Kemp, From the New York Times
The Clinton campaign that promised a plan for economic growth has suddenly turned into an administration demanding across-the-board sacrifice from the American people. Indeed the myth that Americans are undertaxed has become the defining principle behind President Clinton's economic policy. The truth is that Americans are overtaxed, not undertaxed. Sacrifice is not an economic policy and it's certainly not a goal for which the nation should be striving. Besides, it's not the people who need to sacrifice, it's the bloated government.
BUSINESS
September 6, 2013 | By Reid Kanaley, Inquirer Staff Writer
Driven by spending on cars and housing-related goods, economic activity continued to expand at a modest to moderate pace across the country during the summer, the Federal Reserve said Wednesday. Reports from the Fed's 12 regional banks, including Philadelphia, show that the period from early July through late August saw at least steady hiring as inflation remained "subdued. " The Dow Jones industrial average fell a bit after the 2 p.m. release of the closely watched Fed report, called the Beige Book.
NEWS
February 12, 1996
This week, The Inquirer Editorial Board and WHYY-FM public radio begin Citizen Voices '96, a jointly sponsored series of citizen forums on key issues facing America. Today, the Commentary Page presents the issues framework for the first forum, Pocketbook Pressures: Who Benefits from Economic Growth?, which will air at 8 p.m, Thursday on WHYY, 90.9-FM. After reviewing these materials, listeners will be better able to follow the discussion. Forum participants, already chosen from among hundreds of applicants, will discuss various economic issues using this framework, which was developed by Public Agenda, a nonprofit research organization, for the recent National Issues Convention in Austin, Texas.
BUSINESS
September 21, 2006 | FROM INQUIRER WIRE SERVICES
The Federal Reserve yesterday kept its benchmark interest rate at 5.25 percent for a second month as slowing growth and a slide in oil prices suggested lower inflation in coming quarters. In a 10-1 vote, Fed Chairman Ben S. Bernanke and his colleagues decided to leave rates unchanged, part of a strategy to put the economy on an even keel. With economic growth moderating and once-surging energy prices now receding, all but one of the Fed's voting members felt comfortable not raising rates again.
NEWS
October 7, 2005 | By Leonard N. Fleming INQUIRER STAFF WRITER
Hoping to win over South Jersey business leaders with ambitious gubernatorial agendas, Democratic U.S. Sen. Jon S. Corzine and Republican candidate Douglas Forrester made their cases yesterday for being better suited to spur economic growth and root out corruption in Trenton. Forrester and Corzine separately addressed the breakfast crowd of more than 250 members of the Chamber of Commerce Southern New Jersey at the Mansion in Voorhees. Members listened intently and later questioned the candidates on topics including how best to deal with troubled urban centers such as Camden, education, and property taxes.
BUSINESS
November 27, 2002 | FROM INQUIRER WIRE SERVICES
U.S. economic growth was brisker than first thought during the summer, while consumer confidence broke a five-month downtrend in November. But within these apparently upbeat reports yesterday lurked signs that the recovery for the nation's economy was still not on solid ground. The Commerce Department said the gross domestic product - considered the best barometer of U.S. economic health - rose at a solid annualized rate of 4.0 percent in the third quarter. A month ago, the government estimated the GDP growth at 3.1 percent.
NEWS
April 5, 1990 | By Larry Eichel and Andrew Cassel, Inquirer Staff Writers
Seventeen years ago, the intersection of Abbott Road and Southwestern Boulevard in the Buffalo suburb of Orchard Park, N.Y., was a pretty forgettable place. Its four corners were home to a gas station, a convenience store, a tavern and a tiny office building. Then an 80,000-seat stadium went up a few hundred yards away. And the Buffalo Bills of the National Football League came to town. And that, according to the Chamber of Commerce, was sure to bring an economic bonanza to little Orchard Park.
BUSINESS
February 12, 2003 | By Ken Moritsugu INQUIRER WASHINGTON BUREAU
Federal Reserve Chairman Alan Greenspan weighed in on President Bush's proposed tax cut yesterday, voicing concern about the rising federal budget deficit and questioning the need for a new economic-stimulus package. He also surprised some analysts with a cautiously upbeat assessment of the U.S. economy's prospects, though he said that fears of war with Iraq made it difficult to gauge the economy's underlying health. Greenspan's testimony to the Senate banking committee is likely to bolster Democratic opposition to Bush's proposal to reduce taxes to boost economic growth.
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NEWS
April 16, 2015 | By Maddie Hanna and Thomas Fitzgerald, Inquirer Staff Writers
MANCHESTER, N.H. - Gov. Christie proposed an overhaul of federal entitlements Tuesday that would cut $1 trillion in spending on Social Security, Medicare, and Medicaid over a decade, a bold stroke aimed at reviving his presidential aspirations. Christie, trailing potential rivals for the 2016 Republican nomination in polls, said the changes were needed both to preserve the safety-net programs and to stabilize federal finances. "Every other national priority will be sacrificed, our economic growth will grind to a halt, and our national security will be put at even graver risk" without cost cutting, Christie said during a speech at St. Anselm College.
BUSINESS
August 9, 2014 | By Chris Mondics, Inquirer Staff Writer
When it comes to income and wealth, Pennsylvania is a step behind - once again. A new report analyzing consumer spending in the 50 states and the District of Columbia finds Pennsylvania comfortably ensconced in the second tier. It is behind New Jersey and such high fliers as the nation's capital, New York state, with its Wall Street revenue, and even North Dakota, where a boom in energy development has boosted personal spending. But it is ahead of its Midwestern neighbor, Ohio, and such states as Illinois and Rhode Island, the sick man of New England.
BUSINESS
September 6, 2013 | By Reid Kanaley, Inquirer Staff Writer
Driven by spending on cars and housing-related goods, economic activity continued to expand at a modest to moderate pace across the country during the summer, the Federal Reserve said Wednesday. Reports from the Fed's 12 regional banks, including Philadelphia, show that the period from early July through late August saw at least steady hiring as inflation remained "subdued. " The Dow Jones industrial average fell a bit after the 2 p.m. release of the closely watched Fed report, called the Beige Book.
BUSINESS
July 28, 2013 | By Joe McDonald, Associated Press
BEIJING - China's government has ordered companies to close factories in 19 industries where overproduction has led to price-cutting wars, affirming its determination to push ahead with a painful economic restructuring despite slowing growth. The industry ministry issued orders late Thursday to more than 1,400 companies to cut excess capacity that has led to financial trouble for manufacturers. The affected industries include steel, cement, copper, and glass. It requires some companies to close outright.
BUSINESS
July 17, 2013 | By Martin Crutsinger, Associated Press
WASHINGTON - The U.S. economy appears to be weaker than many economists had thought after a report Monday showed consumers spent cautiously in June at retail businesses. Americans bought more cars and trucks, furniture, and clothes. But they cut back on almost everywhere else. They spent less at restaurants and bars, reduced purchases at home improvement stores, and bought fewer computers and electronics. Overall retail spending rose 0.4 percent in June from May, the Commerce Department said.
BUSINESS
July 7, 2013 | By Harold Brubaker, Inquirer Staff Writer
U.S. employers added 195,000 jobs in June, with bars and restaurants accounting for more than a quarter of the job gains, the Bureau of Labor Statistics reported Friday. Economists took the report, which revised April and May job-creation numbers up by a combined 70,000, as a sign of sustained, though not spectacular, economic growth. "These buoyant numbers suggest that companies remained keen to hire in June," said Chris Williamson, chief economist at Markit, a global financial-information company.
BUSINESS
June 7, 2013 | By Mike Armstrong, Inquirer Staff Writer
Economic activity in much of the nation increased to a moderate pace from April through mid-May, as reflected in the Federal Reserve's latest anecdotal survey of businesses, banks, and other parts of the private sector, released Wednesday. The exception was the region followed by the Federal Reserve Bank of Dallas, where economic growth was described as strong, led by manufacturing and retail sales. In the Philadelphia area, the growth rate picked up from the modest pace recorded over many months and noted in previous Beige Book reports.
BUSINESS
May 25, 2013 | By Martin Crutsinger, Associated Press
WASHINGTON - U.S. orders for long-lasting manufactured goods rebounded in April, buoyed by more demand for aircraft and an increase in products that signal business investment. Orders for durable goods, items expected to last at least three years, rose 3.3 percent last month from March, the Commerce Department said Friday. That followed a 5.9 decline in March. Excluding the volatile transportation category, orders rose 1.3 percent in April. That followed a 1.7 percent decline in March.
NEWS
May 13, 2013 | By Larry Platt
Is it just me, or does it feel a little, I don't know, gross that, while we're awash in headlines about a "Doomsday Budget" for our public schools, a cadre of well-coiffed businessmen are sharing grandiose plans for yet another Philadelphia casino? How'd we get here? Seems as if, over the last decade, gaming has become a type of crack cocaine for a whole generation of politicians: With their budgets squeezed by economic downturn and an electorate all too willing to vote out of office anyone who considers a tax hike, our so-called leaders - rather than make the hard choices and right-size their governments - have opted for the quick-fix high of casinos, long-term consequences be damned.
BUSINESS
April 27, 2013 | By Martin Crutsinger, Associated Press
WASHINGTON - Americans shrugged off higher taxes to lift the economy at the start of the year. Government spending fell, though, and the impact of the tax increases along with federal budget cuts could slow growth later this year. Economic growth sped to a 2.5 percent annual rate in the January-March quarter, the Commerce Department said Friday. That was up from a pokey 0.4 percent annual growth rate in the October-December quarter. Consumer spending surged at an annual rate of 3.2 percent - its biggest jump since the end of 2010.
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