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Jobless Claims Down In Week

WASHINGTON (UPI) — The four-week moving average of first-time unemployment benefits dropped by 2,000 to 351,000 in the week ending Saturday, the U.S. Labor Department said. The four-week rolling average for initial benefit claims also dropped, declining by 5,500 to 354,000. The U.S. unemployment rate was 8.3 percent in January, down from 8.5 percent in […]

Construction Spending Nearly Flat

WASHINGTON (UPI) — Construction spending fell 0.1 percent month-to-month in January, the U.S. Census Bureau reported Thursday. Total construction spending reached $827 billion, down from the revised estimate of $827.6 billion in December, the bureau said. Spending for January was 7.1 percent above January 2011, when $772 billion was spent on construction projects. Spending on […]

U.S. Manufacturing Growth Slows

TEMPE, Ariz. (UPI) — U.S. manufacturing grew in February for the 31st consecutive month, but at a slower pace than January, supply executives said Thursday. The latest Manufacturing Institute of Supply Manager’s Report On Business registered 52.4 percent, a drop from January, when the index was at 54.1 percent. With numbers above 50 indicating expansion, […]

Long-Term Mortgage Rates Drop In Week

WASHINGTON, March 1 — Average fixed mortgage interest rates for long-term contracts fell in the week, the Federal Home Loan Mortgage Corp. said Thursday. Rates for 30-year contracts dropped from 3.95 percent to 3.9 percent with 0.8 point for the week. A year earlier, 30-year mortgage rates averaged 4.87 percent. The 15-year fixed rate in […]

Foreclosure-Related Sales At 24 Percent

IRVINE, Calif. (UPI) — Nearly a quarter of all U.S. home sales in the fourth quarter involved distressed properties in some stage of foreclosure, private firm RealtyTrac said. RealtyTrac, an online marketplace for properties in foreclosure, said 24 percent of home sales in October through December involved homes either owned by lenders or in some […]

Trump To Purchase Doral Golf Resort

MIAMI, Feb. 28 (UPI) — Developer Donald Trump said his company would purchase the Doral golf resort in Miami out of bankruptcy for $150 million. The purchase will include the 692-room hotel that will be the largest in Trump’s impressive portfolio of properties, The Miami Herald reported Tuesday. Trump said he would put an additional […]

Rising Costs Imperil U.S.-Japan Jet Deal

TOKYO (UPI) — Japan might reconsider the deal if the price of Tokyo’s proposed purchase of U.S.-made F-35 Lightning II stealth jet fighters rise or delivery is delayed. “If the U.S. side makes an unrealistic proposal, we will cancel the purchase or consider (purchasing) other types of aircraft,” Japanese Defense Minister Naoki Tanaka told the […]

GDP Estimate Up To 3 Percent For Quarter

WASHINGTON (UPI) — The U.S. Commerce Department revised the fourth quarter gross domestic output estimate from 2.8 percent to 3 percent in a report issued Wednesday. The figure shows a further jump from the 1.8 percent growth of the third quarter. Economists had not expected an upward revision from the previous report in Wednesday’s release, […]

ECB Puts $713 Billion Into Circulation

FRANKFURT, Germany (UPI) — The European Central Bank said its emergency liquidity program loaned $713 billion to 800 banks, numbers that exceeded the banks’ December loan bonanza. In December, 523 banks participated in a low-interest loan program that put $655 billion into circulation, The New York Times reported Wednesday. The latest round of borrowing involved […]

Bernanke: Spike In Gas Prices To Fade

WASHINGTON (UPI) — U.S. Federal Reserve Chairman Ben Bernanke applauded recent financial policies in Europe Wednesday and said the gasoline price spike would be temporary. Describing the U.S. economic recovery as “uneven,” Bernanke said the Fed expects unemployment “to edge down only slowly towards levels consistent with the (Federal Open Market) Committee’s statutory mandate.” With […]

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