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NEWS
December 19, 2011
Join Philly.com and The Inquirer for two special live events Monday: Chat LIVE with Philadelphia Police Commissioner Charles H. Ramsey about public safety issues starting at 1 p.m. Chat LIVE with Mark Zandi, chief economist of Moody's Analytics, about the state of the local and national economies, also starting at 1 p.m. Both on www.philly.com .
NEWS
July 22, 2010
Milwaukee-based mortgage insurer MGIC Investment Corp. announced today that Mark Zandi, chief economist at Moody's Analytics in West Chester, has joined its board of directors. "We are extremely pleased that MGIC will have the benefit of Mark's experience with macroeconomic models, financial markets and public policy," said Curt Culver, MGIC's chairman and CEO. MGIC said Zandi had recently conducted research on factors determining mortgage foreclosure and personal bankruptcy, analyzed the economic impact of various tax and government spending policies, and assessed the appropriate policy response to bubbles in asset markets.
BUSINESS
September 3, 2015 | By Harold Brubaker, Inquirer Staff Writer
There's a lot to like about the current state of the Philadelphia region's economy, particularly in the city, economist Mark Zandi said Tuesday afternoon during a panel discussion at the Union League of Philadelphia. "For the first time in a long time, it feels there's real underlying strength here," said Zandi, who is chief economist at Moody's Analytics. But the goal of the panel was to talk about what keeps the Philadelphia region from excelling economically like rival metro areas, such as Boston; Austin, Texas; and Seattle, and what can be done about it. Other members of the panel - sponsored by a nonprofit, Students Helping Students, which redistributes supplies and furnishings from wealthy schools to poor schools - were Jeremy Nowak, a consultant and former head of the William Penn Foundation, and Matt Cabrey, executive director of Select Greater Philadelphia, a group that markets the region to companies looking to relocate.
BUSINESS
September 19, 2002 | FROM INQUIRER WIRE SERVICES
Although the U.S. economy remains in the doldrums, inflation is suddenly a concern again - both nationally and in the Philadelphia area. The Consumer Price Index, the government's most closely watched inflation gauge, rose 0.3 percent nationwide in August for its biggest increase in four months, the Bureau of Labor Statistics said yesterday. The biggest gains were for energy, clothing and tobacco products. In the Philadelphia area, prices were up 1.1 percent from the end of June to the end of August, more than double the recent average of 0.5 percent for the period.
BUSINESS
September 25, 2008 | By Alan J. Heavens INQUIRER REAL ESTATE WRITER
August existing-home sales fell 25.1 percent in the eight-county Philadelphia region over 2007, but the median sale price remained at $220,000. Although the year-over-year sales decline was more than July's 22.6 percent drop, it was below the 27.8 percent in the first six months of 2008, according to Prudential Fox & Roach HomExpert Report, using data from the Trend Multiple Listing Service. Median prices had fallen 2.5 percent year-over-year in July, HomExpert reported. Another indicator, from First American CoreLogic Inc., of Santa Ana, Calif.
BUSINESS
November 18, 2005 | By Todd Mason INQUIRER STAFF WRITER
Moody's Corp. has paid $27 million in cash to buy Economy.com, the West Chester research firm that democratized the dismal science. Economy.com will remain an independent operation under its current management and will keep its headquarters in Pennsylvania, Moody's said. Mark Zandi, chief economist at Economy.com, has become a fixture in national media coverage of the economy. Moody's, the New York bond-rating agency, lost no time yesterday updating the Web site with its new name, Moody's Economy.
BUSINESS
February 23, 2011 | By Alan J. Heavens, Inquirer Real Estate Writer
Except in two cities where prices have hit bottom and are rising again ever so slowly, the nation's housing market still appears several quarters from recovery. Case-Shiller index data through December, released Tuesday, show prices falling 3.9 percent during the fourth quarter of 2010. Year-over-year, the national index was 4.1 percent lower. Only San Diego and Washington saw prices rise. Seasonal demand accounts for part of the December decline, but economist Patrick Newport of IHS Global Insight in Lexington, Mass.
BUSINESS
January 2, 2014 | By Harold Brubaker, Inquirer Staff Writer
For corporate America, 2013 was a banner year. The Standard & Poor's 500 stock index had its biggest gain since 1997, when the Internet boom was going strong. One Philadelphia-area company, Lincoln National Corp., a life insurer based in Radnor, was near the top of the heap in 2013. Shares in Lincoln, which markets itself as Lincoln Financial Group, nearly doubled, to finish with the 13th-best gain in the S&P. But the gains were widespread in the index, largely because corporate profits are at record highs nearly across the board, Mark Zandi, chief economist at Moody's Analytics in West Chester, said Tuesday.
BUSINESS
November 16, 2010 | By Alan J. Heavens, Inquirer Real Estate Writer
Viewed in its entirety, real estate in the Philadelphia region appears to have held its own since the housing-market downturn began in 2007. But when broken into smaller metropolitan areas, as Fiserv Case-Shiller's second-quarter analysis of home prices has done, the picture is much different. The city and the four surrounding Pennsylvania counties have indeed fared well, with median prices falling just 6.6 percent since their 2007 peak. (Median is the middle number; half the houses sold for more, half for less.
NEWS
May 5, 2013 | By Linda Loyd, Inquirer Staff Writer
Stock markets soared Friday after an unexpectedly strong U.S. jobs report for April painted a brighter picture of the labor market than many economists were expecting. The Labor Department said 165,000 jobs were added in April, and weak jobs numbers for March and February were also revised upward. The April unemployment rate fell to 7.5 percent, the lowest in four years, from 7.6 percent in March. On that news, the Dow Jones industrial average crossed 15,000 for the first time before closing at 14,973.96, up 142.38 on the day. The Standard & Poor's 500 index, a broader market measure, passed 1,600 for the first time, closing at 1,614.42, up 16.83 for the day. "The market investors were positioned for a disappointing report," said Mark Zandi, chief economist with Moody's Analytics.
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BUSINESS
September 3, 2015 | By Harold Brubaker, Inquirer Staff Writer
There's a lot to like about the current state of the Philadelphia region's economy, particularly in the city, economist Mark Zandi said Tuesday afternoon during a panel discussion at the Union League of Philadelphia. "For the first time in a long time, it feels there's real underlying strength here," said Zandi, who is chief economist at Moody's Analytics. But the goal of the panel was to talk about what keeps the Philadelphia region from excelling economically like rival metro areas, such as Boston; Austin, Texas; and Seattle, and what can be done about it. Other members of the panel - sponsored by a nonprofit, Students Helping Students, which redistributes supplies and furnishings from wealthy schools to poor schools - were Jeremy Nowak, a consultant and former head of the William Penn Foundation, and Matt Cabrey, executive director of Select Greater Philadelphia, a group that markets the region to companies looking to relocate.
BUSINESS
May 14, 2014 | By Alan J. Heavens, Inquirer Real Estate Writer
Applications for mortgages to buy houses have been lagging so far this year - 16 percent below the pace for 2013. Yet, for the first time since 2009, applications to purchase are exceeding deals to refinance mortgages. The lower numbers for home-buying mortgages reflect continued weakness in the real estate market, even though the 30-year fixed rate fell Thursday to 4.21 percent - its low for the year so far. There are many reasons, according to economist Mark Zandi, chief economist of Moody's Analytics in West Chester.
BUSINESS
January 2, 2014 | By Harold Brubaker, Inquirer Staff Writer
For corporate America, 2013 was a banner year. The Standard & Poor's 500 stock index had its biggest gain since 1997, when the Internet boom was going strong. One Philadelphia-area company, Lincoln National Corp., a life insurer based in Radnor, was near the top of the heap in 2013. Shares in Lincoln, which markets itself as Lincoln Financial Group, nearly doubled, to finish with the 13th-best gain in the S&P. But the gains were widespread in the index, largely because corporate profits are at record highs nearly across the board, Mark Zandi, chief economist at Moody's Analytics in West Chester, said Tuesday.
NEWS
October 23, 2013 | By Bonnie L. Cook and Bob Fernandez, Inquirer Staff Writers
Lawrence R. Klein, 93, of Gladwyne, a University of Pennsylvania economics professor who won a Nobel Prize and was considered the father of modern economic forecasting, died Sunday, Oct. 20, of a heart ailment at his home. Dr. Klein, who observed both the Depression and the post-World War II boom, influenced many of the current generation of economic forecasters by developing models in the 1950s and 1960s. Many of the economic forecasts taken as commonplace today - such as the effect of interest rates on economic growth - exist because of Dr. Klein's innovations, say economists.
NEWS
October 2, 2013 | By Jennifer Lin, Alfred Lubrano, and Edward Colimore, Inquirer Staff Writers
Tens of thousands of federal employees in Philadelphia and South Jersey - including civilian members of the military - are to be furloughed Tuesday after the U.S. government plunged into a partial shut down ovenight. Nine national parks in New Jersey are closed, while Independence Hall, the Liberty Bell, and Valley Forge will turn away visitors. Furloughed workers at Independence Park, in the meantime, plan to hold an informational picket at the park at noon Tuesday. But many critical services - from airport screening to customs inspections, health care for veterans to mail delivery, Coast Guard patrols to immigration processing - remain in place.
NEWS
May 5, 2013 | By Linda Loyd, Inquirer Staff Writer
Stock markets soared Friday after an unexpectedly strong U.S. jobs report for April painted a brighter picture of the labor market than many economists were expecting. The Labor Department said 165,000 jobs were added in April, and weak jobs numbers for March and February were also revised upward. The April unemployment rate fell to 7.5 percent, the lowest in four years, from 7.6 percent in March. On that news, the Dow Jones industrial average crossed 15,000 for the first time before closing at 14,973.96, up 142.38 on the day. The Standard & Poor's 500 index, a broader market measure, passed 1,600 for the first time, closing at 1,614.42, up 16.83 for the day. "The market investors were positioned for a disappointing report," said Mark Zandi, chief economist with Moody's Analytics.
NEWS
November 26, 2012 | Mark Zandi, For the Inquirer
President Obama's reelection started the countdown for lawmakers to address the fiscal cliff and the statutory debt limit. Unless the president and House Republicans can agree on changes to current law, the U.S. economy will be in recession by spring. Concern about Washington's ability to manage the crisis already appears to be taking a toll. Nervous businesses have pulled back on investment and advertising in recent months. Firms' staffing decisions haven't been affected, but this may not last if uncertainty continues to mount.
BUSINESS
April 24, 2012 | By Alan J. Heavens, INQUIRER REAL ESTATE WRITER
The residential real estate market continues to give off mixed signals — indications of continued, yet gradual, improvement that is well shy of full recovery. Among the current signs: •Standard & Poor's Case-Shiller Indexes, which measure home prices nationally, showed year-over-year declines in February. Nine cities, including New York and Chicago, reached post-housing-bubble lows. Prices stand now where they were in late 2002-early 2003. •Single-family home prices in the city of Philadelphia declined 4.6 percent in the first quarter from fourth-quarter 2011 levels, according to Kevin Gillen, a vice president at Econsult Corp.
NEWS
December 19, 2011
Join Philly.com and The Inquirer for two special live events Monday: Chat LIVE with Philadelphia Police Commissioner Charles H. Ramsey about public safety issues starting at 1 p.m. Chat LIVE with Mark Zandi, chief economist of Moody's Analytics, about the state of the local and national economies, also starting at 1 p.m. Both on www.philly.com .
BUSINESS
February 23, 2011 | By Alan J. Heavens, Inquirer Real Estate Writer
Except in two cities where prices have hit bottom and are rising again ever so slowly, the nation's housing market still appears several quarters from recovery. Case-Shiller index data through December, released Tuesday, show prices falling 3.9 percent during the fourth quarter of 2010. Year-over-year, the national index was 4.1 percent lower. Only San Diego and Washington saw prices rise. Seasonal demand accounts for part of the December decline, but economist Patrick Newport of IHS Global Insight in Lexington, Mass.
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