Author: Patricia Laya
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Venezuela is adding troops near Guyana border, report says
Venezuela has been increasing its military presence near the disputed Essequibo region that’s controlled by Guyana, a new report from a Washington-based think tank shows, potentially escalating tensions with its neighbor over the oil-rich territory. The report published Friday by the Center for Strategic and International Studies presents satellite images as evidence that Venezuela is…
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U.S. retail sales in February post smallest gain in 6 months
U.S. retail sales in February posted the smallest gain in six months, indicating a tempering of the consumer spending that’s been carrying the economy. Purchases rose 0.1 percent, matching the Bloomberg survey median estimate, after a 0.6 percent increase in the prior month that was stronger than previously reported, Commerce Department figures showed Wednesday. Just…
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Labor market is getting better by almost any measure
America’s labor market might not be as great yet as President Donald Trump wants, but by almost any measure, it’s getting better. Employers added an above-forecast 235,000 positions in February, while measures of joblessness and underemployment improved, the Labor Department’s monthly report showed on Friday. Wage growth picked up and the share of prime-age Americans…
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Sales of new homes in January slower than forecast
Purchases of new U.S. homes in January were slower than forecast, signaling an increase in mortgage rates may be giving some potential buyers pause. Sales climbed 3.7 percent to a 555,000 annualized pace, Commerce Department data showed Friday. The median forecast in a Bloomberg survey of economists called for a 571,000 rate. Purchases in the…
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Factory production rises for fourth time in five months
U.S. factory output increased for the fourth time in five months amid gains in machinery and chemicals, extending a gradual recovery in manufacturing. Production at factories, which make up about 80 percent of all output, increased 0.2 percent in January from the previous month, a Federal Reserve report showed Wednesday. That matched the median forecast…
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Service industries in U.S. expand at faster pace than forecast
America’s service providers expanded more than forecast last month, spurred by an upturn in orders that coincided with stepped-up demand at the nation’s factories. The Institute for Supply Management said Thursday that its non-manufacturing index held at 57.2 in December, the highest level since October 2015. The median forecast in a Bloomberg survey called for…
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Consumer prices increase for fourth consecutive month
The cost of living in the U.S. rose for a fourth straight month, adding to signs that inflation is approaching the Federal Reserve’s goal. The consumer-price index climbed 0.2 percent in November, matching the median estimate of economists, after a 0.4 percent gain the previous month, Labor Department figures showed Thursday in Washington. Excluding volatile…
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Trade gap widened to a four-month high in October
The U.S. trade deficit widened to a four-month high in October as overseas sales weakened and American companies imported more equipment and consumer goods. The gap grew to $42.6 billion from the prior month’s revised $36.2 billion, Commerce Department figures showed Tuesday. The 17.8 percent increase from September was the largest since March 2015. The…
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This number is a misleading sign of U.S. labor-market strength
The fewest Americans in 42 years are filing applications for unemployment insurance, which on the surface looks like a sign of a historically hot U.S. labor market. The real picture is more complicated. The decline does reflect overall improvements in hiring, and the headline numbers are impressive. Initial filings have remained below 300,000 for 84…
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Jobless claims at 42-year low as U.S. employers shun firings
Filings for U.S. unemployment benefits were at a four-decade low over the past two weeks as sales prospects encouraged employers to maintain headcounts. Jobless claims were 246,000 in the period ended Oct. 8, unchanged from the previous week’s level, which was revised lower, a Labor Department report showed Thursday in Washington. The median forecast in…