Tag Archives: IHS Global Insight

Economic growth is still grinding along, but has slowed considerably since earlier in the year, according to the Federal Reserve's popular Beige Book report released Wednesday. Reports from the 12 Fed districts on their local economies painted a picture of ""widespread signs of a deceleration."" Real estate remains a drag on economic growth in regions across the country, with major trouble spots identified in poor home sales and weak demand for commercial space.

Just ahead of the Labor Day holiday, the federal government reported a slight, but notable improvement in the labor market. New numbers released Friday show that the economy added 67,000 jobs in the private sector during the month of August. Despite growth by private employers, the national unemployment rate edged up from 9.5 percent in July to 9.6 percent in August, as the government cut 114,000 Census jobs and some 550,000 Americans who had given up on finding work decided there were jobs to be had and returned to the hunt.

All eyes were on Jackson Hole, Wyoming Friday, as leaders of the world's central banks convened for an annual retreat in the small, quiet town along the Teton mountain range. The most anticipated attraction - Fed Chairman Ben Bernanke, as market analysts, economists, and Wall Street looked for some semblance of the Fed's plan to deal with the nation's lukewarm economic recovery. Bernanke insisted that he doesn't believe the U.S. will revert into another recession, but he promised to react swiftly if the recovery doesn't pick up.

Home prices in the United States rose in May on both a month-over-month and year-over-year basis, Standard & Poor's reported Tuesday. The S&P/Case Shiller 20-city home price composite increased 1.2 percent between April and May and 4.6 compared to a year ago. The gains posted in the latest installment of the closely watched index were much larger than the market expected, but analysts warn that the plus-signs are only making a temporary showing, reflecting a strong spring selling season and the residual effects of the homebuyer tax credit.