May 2, 2013 |
NEW YORK - Signs of a slowing economy dragged down the stock market Wednesday. Even the prospect of continued stimulus from the Federal Reserve didn't help. Major market indexes fell by 0.9 percent, their worst decline in two weeks. Small-company stocks fell even more, 2.5 percent, as investors shunned risk. The yield on the benchmark U.S. government bond fell to its lowest of the year as investors sought safety. Stocks opened lower and kept sagging throughout the day, hurt by reports of a slowdown in hiring and manufacturing last month.
April 27, 2013 |
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.
April 25, 2013 |
"Modest" economic growth will benefit the Philadelphia region's apartment market during the rest of 2013, with vacancy rates falling and effective rents rising, real estate brokerage Marcus & Millichap said Tuesday. Developers will add 2,000 rental apartments to the market, almost doubling the 1,031 completed in 2012, the report said. Building permits for multifamily housing, a measure of future growth, will rise by 5 percent to 3,900, comprising both condominiums for sale and rental units.
April 22, 2013
By Scott S. Powell U.S. stock prices have just reached record highs, erasing the losses since the previous 2007 peak. But the U.S. economy as measured by the labor-force participation rate, which captures the percentage of working-age people in the labor force, has just dropped to a new 34-year low of 63.3 percent. Since the Great Depression, recessions have always been followed by strong recoveries within two years of market bottoms. Not this time. Gross domestic product (GDP) growth from the market bottom in March 2009 has averaged 1.94 percent annually, the worst post-recession rebound in the last 70 years.
April 19, 2013 |
WASHINGTON - A strengthening housing recovery and robust auto sales contributed to moderate growth across the United States in late February and March, according to a Federal Reserve survey released Wednesday. All of the Fed's 12 banking districts grew moderately and growth accelerated in two districts - New York and Dallas - from January and early February. In the Philadelphia region, the Fed said business activity maintained a "modest pace of growth" evident earlier. "In particular, general services, staffing, tourism, and commercial real estate leasing continued to expand at modest rates," the survey said, while retail activity and residential construction in the area appeared to be slowing.
April 18, 2013 |
NEW YORK - As evidence of a slowing global economy grows, investors are showing some caution just one week after U.S. stocks hit an all-time high. Stocks fell Wednesday after lackluster earnings from Bank of America and an apparent drop in demand for Apple's iPad and iPhone dragged financial and technology stocks lower. New signs of weakness in Europe, where car sales are plunging and unemployment is rising, also weighed on the market. The Dow Jones industrial average fell 138 points, or 0.9 percent, to 14,618.59 Wednesday, wiping out most of the gain it made Tuesday.
April 7, 2013 |
WASHINGTON - A streak of robust job growth came to a halt in March, signaling that U.S. employers may have grown cautious in a fragile economy. The gain of 88,000 jobs was the smallest in nine months. Even a decline in unemployment to a four-year low of 7.6 percent was nothing to cheer: The rate fell only because more people stopped looking for work and were no longer counted as unemployed. The weak jobs report Friday from the Labor Department caught analysts by surprise and served as a reminder that the economy is still recovering slowly nearly four years after the Great Recession ended.
April 7, 2013 |
The U.S. Department of Labor's weaker-than-expected jobs report Friday fed fears the economy was slowing. The gain of just 88,000 jobs for March, down by more than half from January and February, sent stock prices lower, with the Standard & Poor's 500 big-company stock index ending down 0.43 percent for the day. But the weak jobs report shouldn't have surprised investors, because the economy had already been facing higher labor costs, weak durable-goods...
March 29, 2013 |
NEW YORK - The U.S. stock market marched past another milepost Thursday on its long, turbulent journey back. The Standard & Poor's 500 closed at a new high, three weeks after the Dow Jones industrial average surpassed its own closing record. The S&P rose 6.34 points to close at 1,569.19, a gain of 0.4 percent, beating by four points its previous record of 1,565.15, set on Oct. 9, 2007. The index is still shy of its all-time trading high of 1,576. Reaction on Wall Street was more of a dull buzz than a victory cry, with analysts warning clients not to get excited.
March 27, 2013 |
Edmond Dougherty had high-flying hopes for the aerial-camera system he helped develop to capture action at school sports events. But those ambitions have landed with a thud. Chalk it up as another recession casualty. Wavecam, brought to life at a workshop in Villanova, took flight in 2008, just as the economy was free-falling and budgets constricted. "When people were canceling Christmas parties because it wouldn't look right, we were going around saying, 'Hey! Want to buy a flying camera?