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Officials: Fed May Need To Take New Action

WASHINGTON (UPI) — The U.S. economic recovery risks being derailed and the Federal Reserve might have to take action to support growth, Fed officials said. Fed Chairman Ben Bernanke Thursday added his voice to three other high-ranking Fed officials who have recently suggested a policy change is in order. Bernanke’s remarks fell under the category […]

Initial Jobless Benefit Claims Drop

WASHINGTON (UPI) — First-time jobless claims fell by 12,000 in the week ended Saturday, the U.S. Labor Department said. Initial claims for unemployment benefits dropped to 377,000 from the previous week’s revised estimate of 389,000. The four-week rolling average, which gives a steadier indication of the direction of jobless claims rose by 1,750 to 377,750. […]

Mother Nature's Bill In May In Billions

CHICAGO (UPI) — Reinsurance firm Aon Benfield said earthquakes in Italy topped May’s list for monetary losses from natural events, but rains in China killed more people. Two earthquakes in a nine-day period killed 25 people and injured 400 others. Including aftershocks, the events also caused extensive damage to the Emilia-Romagna region of Italy. The […]

Long-Term Loan Rates Sink Further

WASHINGTON (UPI) — Average mortgage rates for 30-year, fixed-rate loans fell to record lows for the sixth consecutive week, the Federal Home Loan Mortgage Corp. said Thursday. Average rates for 30-year contracts dropped from 3.75 percent to 3.67 percent with 0.7 points, a record low. Thirty-year mortgage rates averaged 4.49 percent the same week of […]

Mortgage Activity Up With Rates Down

WASHINGTON (UPI) — The Mortgage Bankers Association said U.S. mortgage activity rose 1.3 percent in the week ended Friday with interest rates falling on long-term loans. The trade group’s Refinancing Index also rose slightly, rising 2 percent, the MBA said. Interest rates for 30-year, fixed-rate conforming mortgages fell from 3.91 percent to 3.87 percent with […]

Europe's GDP All But Flat In First Quarter

BRUSSELS (UPI) — Eurostat, the statistical agency of the European Union, confirmed Wednesday the economies of Europe barely moved in the first quarter. In the 17-member eurozone, the gross domestic product fell 0.1 percent compared to the same quarter of 2011. In the 27-member European Union, the GDP rose 0.1 percent compared to the same […]

Retail Sales Rise Slightly In Week

WASHINGTON (UPI) — U.S. retail sales receipts rose 0.4 percent in the week ending Saturday after five consecutive weekly declines, a national trade group said. The International Council of Shopping Centers in Washington said sales rose week-to-week and climbed 2.8 percent compared to the same week a year earlier. The trade group said in Tuesday’s […]

Labor Department Firms Labor Cost Estimate

WASHINGTON (UPI) — Labor productivity in non-farm businesses fell at a 0.9 percent annual rate during the first quarter, the U.S. Bureau of Labor Statistics said Wednesday. The 0.9 percent drop in the first three months of 2012 is a revision from a month ago, when the decline was estimated at 0.5 percent. With current […]

Honda Fit Gets Highest EPA Fuel Rating

TORRENCE, Calif. (UPI) — The U.S. Environmental Protection Agency has given the 2013 Honda Fit EV its highest ever fuel efficiency rating, the company said Wednesday. The EPA bestowed a combined city and highway driving rating of 118 miles per gallon, topping the previous best 112 mpg earned by the Mitsubishi i-MiEV. Third on the […]

Factory Orders Slid In April

WASHINGTON (UPI) — U.S. factory orders dropped 0.6 percent in April and have fallen for three of the past four months, the U.S. Census Bureau reported Monday. After falling 2.1 percent in March — revised from a previous estimate of 1.5 percent — factory orders fell an additional $2.9 billion to $466 billion in April, […]

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