Archive for August, 2011

Growth slows substantially

ECONOMIC GROWTH markedly slowed to 3.4% in the second quarter from a year earlier, likely placing the “fighting” 2011 target of 7-8% out of reach and increasing the chances that monetary authorities would keep interest rates on hold.

Consumer confidence crumbles to two-year low in August

NEW YORK: Confidence among consumers plunged in August to its lowest in more than two years following the country’s loss of its top credit rating and heart-wrenching drops in major stock indexes. (2 mins ago)

Contract to buy homes falls for 1st time in 3 months as flurry of spring buyers slows

WASHINGTON – The number of people who signed contracts to buy homes fell in July, further evidence that the depressed housing market remains a drag on the economy. (18 mins ago)

Global Warming Cools off as a Top Concern

Concern about climate change/global warming among online consumers around the world took a back-seat to other environmental issues such as air and water pollution, water shortages, packaging waste and use of pesticides, according to Nielsen’s 2011 Global Online Environment & Sustainability Survey of more than 25,000 Internet respondents in 51 countries. (7 mins ago)

High Debt Levels Poised to Stunt Growth

New research suggests the high and rising debt of the U.S., Japan and Europe will stunt economic growth unless countries act quickly to contain it. (18 mins ago)

US second quarter growth cut in inventories

WASHINGTON : US economic growth in the second quarter was slower than previously thought and consumer confidence sank in August, further reducing prospects of a strong pick-up in output in the second half of the year. (7 mins ago)

Columbus metro area unemployment rate drops to 9.6 percent in July

Fewer layoffs in the service sector, transportation and education helped push the Columbus metro area unemployment rate lower in July (22 mins ago)

TSX lower, gold stocks weigh, profit taking sends bullion prices tumbling

TORONTO – The Toronto stock market was lower Wednesday, weighed down by falling gold stocks and tumbling gold prices. (9 mins ago)

New-home sales in U.S. drop to lowest level in five months

WASHINGTON – Sales of new U.S. homes declined more than projected in July to the lowest level in five months, indicating the industry is struggling to stabilize two years into the economic recovery. (18 secs ago)

Economic Outlook: Wyoming or bust

By ANTHONY HALL United Press International It always feels like eavesdropping when reports filter through the media concerning the U.S. Federal Reserve’s annual retreat at Jackson Hole, Wyo. (28 mins ago)