February 17, 2013
In the Region Philly airport gets state cash Philadelphia International Airport said Friday that it has been awarded a $5.1 million state grant to make upgrades to airport mechanical facilities and airfield taxiways. Gov. Corbett announced the grants to 10 Pennsylvania airports for safety enhancements and improvements. The funds, approved by the State Transportation Commission, came from the Pennsylvania capital budget. - Linda Loyd AARP opposes utility plan AARP Pennsylvania announced it will oppose changes approved Thursday by a unanimous Pennsylvania Public Utility Commission that it says will make default electricity service more volatile and costly.
June 7, 2012 |
I'm calling for a cease-fire on overstating the importance of statistics, meetings, or events that suggest they may have some bearing on the end of the global economy as we know it. This week, commentators on the financial-news networks were still deconstructing the god-awful U.S. jobs report from Friday, which was weak but a far cry from the bad old job-destruction days of 2008. Some were viewing Tuesday's Group of Seven meeting as key to finding the secret passageway that would lead Europe out of the forbidding debt-crisis woods.
February 16, 2012 |
WASHINGTON - U.S. factories boosted output last month, and December ended up being their best month of growth in five years. Strong auto sales and growing business investment in machinery and other equipment are keeping factories busy and helping the economy grow. The Federal Reserve said Wednesday that manufacturing production increased 0.7 percent in January. And in December, output soared 1.5 percent, according to an upward revision. That's the biggest one-month gain since December 2006.
November 17, 2011 |
WASHINGTON - U.S. manufacturing is recovering from a slump, and inflation may be peaking. Data issued Wednesday point to an economy growing slowly but steadily. Still, surging oil prices and a possible European recession threaten the momentum. "The continued resilience of manufacturing is encouraging, since this should be the sector most exposed to the global economic slowdown," said Paul Ashworth, chief U.S. economist with Capital Economics. Industrial production rose in October at the fastest pace in three months.
June 12, 2011
Amity Shlaes is a senior fellow in economic history at the Council on Foreign Relations and a Bloomberg columnist What if it just keeps going? That's the question Americans are asking as they consider last month's 9.1 percent unemployment rate, still so high 33 months after the crash of September 2008. Scholars of economic history are asking another question: Are we repeating 1937? That year, when Americans were expecting their economy to finally pull out of the Great Depression, the stock market took another dive, with the Dow Jones industrial average dropping from the 190s in March 1937 to less than 100 in March 1938.
July 16, 2010 |
After driving the economic recovery over the last year, manufacturing activity is slowing, according to reports Thursday in Philadelphia and New York. A third report showed that factory production fell the most in a year, and yet another economic indicator - prices at the wholesale level - raised some worry about deflation. "Manufacturing has peaked, and factory output will moderate over the next few months," Ryan Sweet, senior economist at Moody's Economy.com in West Chester. In the Philadelphia area, manufacturing fell in July for the second consecutive month as the national economy stumbles through a soft patch, according to a monthly survey from the Federal Reserve Bank of Philadelphia.
May 18, 2009 |
As the H1N1 virus waxes and wanes among humans, health officials have stepped up scrutiny on a whole new population: pigs. Are swine somehow culpable, as genetic tendrils of the virus suggest? And does the way we raise them, on industrial farms, create the potential for future pandemics? The answers are maybe and maybe. In any case, pigs are paying the price. Thousands were scheduled for euthanasia abroad, and several countries banned the import of U.S. pork products, even though the illness is not food-borne.
October 17, 2008 |
Stock prices continued their stomach-churning gyrations yesterday, finally ending with big gains as oil's drop below $70 a barrel sparked interest in consumer-products companies. The Dow Jones industrial average rose 401.35, its 10th-largest point gain ever, to close at 8,979.26. The average rebounded from an early decline of 380 points that was spurred by a government report yesterday morning of the biggest drop in U.S. industrial production in 34 years. By the close, the Dow had swung by more than 700 points for the sixth straight day. "We have a manic-depressive market," said Frederic Dickson, chief market strategist at D.A. Davidson & Co., in Lake Oswego, Ore. "The speed at which markets are reacting to news right now is close to mind-numbing.
January 2, 2008 |
As the U.S. economy enters its seventh year of expansion, many are predicting a recession in 2008. Don't believe it. The U.S. economy is strong, healthy and stable, and it will continue expanding well into the new year. The National Bureau of Economic Research, the nation's leading authority on business cycles, closely watches five economic variables to determine when the economy officially goes into a recession. You might be surprised, but the bureau doesn't look at any of the economic variables that get all of the attention in the media, like the subprime crisis, the falling dollar, foreclosures, the stock market, and rising oil prices.
October 15, 2005 |
Hurricanes Katrina and Rita pushed consumer prices up and industrial production down last month by the most in about a quarter-century, the government reported yesterday. Prices paid by consumers jumped 1.2 percent in September, the biggest monthly increase since March 1980, as gasoline prices soared, the Labor Department said. Ninety percent of the increase came from a record-shattering 12.1 percent surge in energy prices, reflecting tight supplies after widespread shutdowns of refineries and of oil and natural-gas production along the Gulf Coast because of the storms.