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Two Surveys Show Factories Slowing Down

TEMPE, Ark., (UPI) — Two closely watched measures of U.S. manufacturing showed the sector slowing and even contracting in June. International research firm Markit’s June survey showed its Purchasing Managers Index dropped from 54 in May to 52.5 in June. In Tempe, Ariz., the Institute of Supply Management said seven of 18 manufacturing sectors showed […]

Crude Oil Slips Back, Nears $83

NEW YORK, (UPI) — Crude oil prices backpedaled Monday morning, heading toward $83 per barrel, with markets still adjusting to last week’s European Union summit. Prices had jumped 9.2 percent Friday after heads of state in Europe announced agreements on several policy initiatives meant to support the euro. On Monday, prices eased cautiously back. West […]

'Best Regions' Poised For Brightest Future

WASHINGTON, (UPI) — People in the East South Central region of the United States are least likely to be employed and learn new things, a survey indicates. The Gallup Daily tracking and the Gallup-Healthways Well-Being Index — involving nearly 480,000 interviews of U.S. adults conducted Jan. 2 to May 9 — asked 13 questions encompassing […]

N.Y. Times Announces Chinese Website

NEW YORK (UPI) — The New York Times has announced plans for a Chinese-language website aimed at China’s new middle class and the upscale advertisers trying to reach them. Joseph Kahn, the Times foreign editor who is in charge of the project, said the website will not register as an official Chinese news organization and […]

Consumer Spending Falls Flat In May

WASHINGTON (UPI) — Consumer spending was flat in May for the first time since November 2011, the U.S. Commerce Department said Friday. Spending was unchanged following a 0.1 percent rise in March and April and a 1 percent rise in February. Incomes rose, but showed a decline in growth. Incomes in May rose 0.2 percent, […]

Treasury Department Puts Out A Call For Apps

WASHINGTON (UPI) — The U.S. Treasury Department sent out a call for fresh ideas Wednesday with cash prizes awaiting the most popular entries. The department said it was looking for ideas that would help the public become “smarter financial consumers.” The contest, dubbed the “MyMoneyAppUp Challenge” has two categories for entries. The first category is […]

EU Economic Sentiment Index Stable In June

BRUSSELS (UPI) — The European Commission said Thursday economic sentiment remained virtually unchanged in the European Union in June. After dropping sharply in May, the Economic Sentiment Indicator for the European Union was unchanged at 90.4 in the 27-member EU, although it fell by 0.6 points to 89.9 in the 17-member eurozone, the countries that […]

Confirmed: Economic Growth Modest

WASHINGTON (UPI) — The U.S. economy expanded by a modest 1.9 percent on an annual basis in the first quarter of the year, the Commerce Department confirmed Thursday. The advance, which follows 3 percent growth of the fourth quarter of 2011, was confirmed in the final estimate out of three released by the department. Economists […]

Jobless Claims Drop By 6,000

WASHINGTON (UPI) — First-time jobless claims fell by 6,000 in the week ended Saturday, the U.S. Labor Department said. Initial claims for unemployment benefits fell to 386,000 from the previous week’s revised estimate of 392,000. The four-week rolling average, which gives a steadier indication of the direction of jobless claims, was little changed, dropping by […]

Long-Term Mortgage Rates Hit Lows

WASHINGTON (UPI) — Average mortgage interest rates for long-term, fixed-rate loans matched record lows in the week ended Thursday, the Federal Home Loan Mortgage Corp. said. Average rates for 30-year contracts held at 3.66 percent with 0.7 points, maintaining a record low. Thirty-year mortgage rates averaged 4.51 percent the same week of 2011. Average rates […]


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