economic indicators

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First Half of '08 Worst Ever for Hedge Funds

0.75% drop is a record for industry that's only reported 1 losing year

(Newser) - Hedge funds have fallen an average of 0.75% in the first half of 2008, the worst yearly start for the industry since Hedge Fund Research began collecting data in 1990. Even 2002, the only year on record in which the $1.9 trillion industry lost money, was sunnier. "...

Stimulus' Boost Seen; How Long It Lasts Unsure

Economists debate impact, as inflation outpaces wage growth

(Newser) - The government's stimulus package has worked—for now at least, the New York Times reports. Spending rose 0.4% last month, the Commerce Department said today, buoyed by the $50 billion in checks sent to consumers. But subtract the stimulus, and income levels rose only modestly, and wage growth lagged...

Jobless Rate Posts Biggest Jump in 22 Years
Jobless Rate Posts Biggest Jump in 22 Years
Economy
Jun 6, 2008 8:43 AM CDT

Jobless Rate Posts Biggest Jump in 22 Years

Signs are very bad for consumers

(Newser) - Unemployment saw its biggest leap in two decades in May, spiking from 5.0% to 5.5%, as companies scale back their workforces in the face of recession, Bloomberg reports. Analysts had expected a more modest climb, to 5.1%; unemployment hasn’t been this high since October 2004. Payrolls...

Retail Sales Rise, but Consumers Spend Cautiously

...consumers spend cautiously and retailers hurt

(Newser) - Consumers gave some of the nation's retailers a little relief in April, following months of dismal sales, but business was helped along by heavy discounting that could hurt fiscal first-quarter earnings, AP reports. Early sales reports issued yesterday showed that shoppers—who are contending with rising gas prices, sagging home...

Mood Lightens on Wall St. as Rally Takes Hold

As stocks rise, analysts' outlooks improve

(Newser) - Despite economic gloom spreading along Main Street, things on Wall Street are perking up, the New York Times reports—enough that analysts see a glimmer of hope for a turnaround beginning this year. The stock market rebounded almost 11% in recent weeks, junk bonds and other risky securities are rallying.

Home Prices Take Record Dive
 Home Prices Take Record Dive 
Economy
Apr 29, 2008 11:24 AM CDT

Home Prices Take Record Dive

Key index drops 12.7%; consumer confidence plummets

(Newser) - A key measure of home prices fell fell 12.7% in February, the biggest decline in its 7 years of existence, and consumer confidence measured this month hit a 5-year low, Bloomberg reports. The S&P/Case-Shiller home price index reflects the crush of foreclosures and resultant tightening of lending standards....

Consumer Confidence Hits 26-year Low
Consumer Confidence Hits 26-year Low
Economy
Apr 25, 2008 10:59 AM CDT

Consumer Confidence Hits 26-year Low

Inflation, housing put people in a funk; most call it a recession

(Newser) - Consumer confidence fell to a 26-year low in April, as the public fretted over inflation and housing, Reuters reports. The index fell to 62.6, surpassing the 63.2 analysts had predicted. Nearly 90% said the economy is in recession. Respondents also said they were unlikely to spend their stimulus...

March Foreclosures Up 57% Over Last Year; Worst Coming

February gains evaporate

(Newser) - Bank repossessions skyrocketed 129% over the 12-month period ending in March, and foreclosure filings rose 57% over the previous year, RealtyTrac announced today. March foreclosure notices rose 5%, after a 4% decline in February. All this “is ongoing fallout from people overextending themselves and using highly toxic loan products,...

Consumer Confidence Hits 26-Year Low
Consumer Confidence Hits 26-Year Low
Apr 11, 2008 11:10 AM CDT

Consumer Confidence Hits 26-Year Low

Index drops far below expectations on job, economy fears

(Newser) - Consumer confidence hasn’t been this low since 1982, according to the Reuters/University of Michigan index, which reported a slide to 63.2 from March’s 69.5. That was lower than even the lowest estimates in a Bloomberg analyst poll. “The consumer’s feeling increasingly hemmed in,”...

Durable Goods, New Homes Take Hit in February

Orders for business equipment key larger-than-expected drop

(Newser) - Durable goods took an unexpected tumble in February, the Commerce Department announced today, with a 1.7% drop headlining a raft of bad economic news. Analysts expected a 0.8% increase. “Businesses definitely have shown they are beginning to retrench,” one analyst told Bloomberg. “Demand is weakening....

Service Sector Records Shocking Contraction

January stats fan recession fears

(Newser) - US service industries took a staggering and unexpected plunge in January, contracting at a pace not seen since the last recession. In today’s non-manufacturing report, which leaked nearly an hour early, the index plummeted from 54.4 to 41.9, far more than the 53 analysts forecast. Stocks fell...

Declines in Home Prices Could Triple

Economist see US in danger of recession; losses could last years

(Newser) - A top economist says the US is in danger of slipping into a lengthy recession, the Times of London reports. Robert Shiller, who co-developed the index that measures home prices, says losses from the housing recession could triple over the next few years. “This is a much bigger issue...

A Steak-House View of the Economy
A Steak-House View of the Economy
May 30, 2007 4:01 PM CDT

A Steak-House View of the Economy

Ribeyes are grreat predictors of business performance, says Daniel Gross

(Newser) - High-end steak houses like Ruth's Chris and Peter Luger are a great place to study trends affecting the US economy, argues Slate's Daniel Gross. The price of sirloin, for instance, reflects the recent spike in energy prices, as demand for ethanol has raised the price of corn, which is what...

Monthly Housing Sales Jump
Monthly Housing Sales Jump
May 24, 2007 2:15 PM CDT

Monthly Housing Sales Jump

But prices are way, way down

(Newser) - The real estate market had a volatile April, with home sales rising at their fastest rate in 14 years. But the 16% spike in sales over the previous month hid a more complicated reality: New home prices dropped by a record 11%, according to Commerce Department figures released today, and...

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