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{ Category Archives } Economy

Wholesale Inventories Down In June

Wholesale inventories in June 2009 declined 1.7% from the prior month and decreased 10.3% from the prior year, to $393.9 billion.  Sales increased 0.4% from May but fell 21.0% from June 2008, to $313.1 billion. Share on Facebook

One in five U.S. mortgage borrowers are underwater; Nevada among the most distressed

One in five U.S. homeowners with mortgages owe more to their lenders than their properties are worth, and the rate will increase as housing values drop in states that have so far avoided the worst of the crisis, a new study shows. About 8.31 million properties had negative equity at the end of 2008, up [...]

U.S. Treasury and Federal Reserve Board Announce Launch of Term Asset-Backed Securities Loan Facility (TALF)

In carrying out the Financial Stability Plan, the Department of the Treasury and the Federal Reserve Board are announcing the launch of the Term Asset-Backed Securities Loan Facility (TALF), a component of the Consumer and Business Lending Initiative (CBLI). The TALF has the potential to generate up to $1 trillion of lending for businesses and [...]

January Construction Spending Down 3.3 Percent

Construction spending in January 2009 fell 3.3% from the prior month and declined 9.1% from the prior year, to $986.2 billion. Share on Facebook

Consumer spending up in January

Consumer spending rose in January after falling for a record six straight months, pushed higher by purchases of food and other nondurable items. But the increase is expected to be fleeting given all the problems facing the economy. The Commerce Department reported consumer spending rose 0.6 percent in January Personal incomes rose 0.4 percent in [...]