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• Record year for retail sales

  January 12, 2012 10:07 AM

  WASHINGTON (AP) -- Retail sales barely rose in December, but the gain was enough to lift sales to a record level for 2011. It marked the largest annual increase in more than a decade. Sales inched up 0.1 percent in December to a seasonally adjusted $400.6 billion, The Commerce... more »

• Great news for the economy: home construction soars

  September 21, 2010 8:50 AM

  Finally some positive news for the economy--the Commerce Department says construction of new homes and apartments rose 10.5 percent in August from a month earlier to a seasonally adjusted annual rate of 598,000. Construction was driven by a 32 percent monthly increase in the condominium and apartment market, a... more »

• Consumer spending and personal incomes both weak

  August 3, 2010 9:00 AM

  The pace of consumer spending stalled in June and personal incomes failed to increase, further evidence that the economy slowed significantly in the spring. The Commerce Department say personal spending was unchanged in June, the third straight month of lackluster consumer demand. Incomes were flat as well, the weakest... more »

• New US home sales at second-slowest pace on record

  July 26, 2010 10:11 AM

  Sales of new homes jumped last month, but the overall pace was the second slowest on record. The lackluster economy has made potential buyers skittish about shopping for homes. The Commerce Department says new home sales rose nearly 24 percent in June from a month earlier to a seasonally... more »

• Home construction sinks, building permits down

  June 16, 2010 8:57 AM

  Home construction plunged last month to the lowest level since December as builders scaled back without a federal tax credit to lure buyers. Building permits also fell, a sign the construction industry won't fuel the economic recovery. The Commerce Department says construction of new homes and apartments fell... more »

• Retail sales plunge by largest amount this year

  June 11, 2010 8:47 AM

  Retail sales plunged in May by the largest amount in eight months as consumers slashed spending on everything from cars to clothing. The big drop raises new worries about the durability of the economic recovery. The Commerce Department says that spending fell 1.2 percent last month. Auto sales were... more »

• Consumer spending posts weak April reading

  May 28, 2010 8:51 AM

  Consumer spending in April turned in the weakest performance in seven months, while incomes posted a tiny advance. The Commerce Department says consumer spending was unchanged last month. Economists had expected a 0.3 percent rise. Personal incomes rose 0.4 percent, less than the 0.5 percent gain economists had... more »

• Expiring credits push new home sales

  May 26, 2010 10:30 AM

  Sales of new homes posted another large gain in April as buyers rushed to sign contracts before government tax credits expired. The Commerce Department says sales of new single-family homes jumped 14.8 percent to a seasonally adjusted annual rate of 504,000 units. The April gain followed a 29.8 percent... more »

• Home construction up, building permits fall

  May 18, 2010 11:21 AM

  Construction of new homes rose more than expected in April, but new building permits fell sharply, signaling that the building industry's rebound could be short-lived. The Commerce Department says construction of new homes and apartments rose 5.8 percent last month to a seasonally adjusted annual rate of 672,000. The... more »

• Consumer spending advances sharply, incomes lag

  May 3, 2010 11:39 AM

  Consumer spending rose in March by the largest amount in five months but the gains were financed out of savings, which fell to the lowest level in 18 months. A modest rise in incomes added to concerns that the recovery could weaken unless income growth increases more rapidly. The... more »

• Consumer spending likely drove growth in first quarter

  April 30, 2010 8:25 AM

  When the Commerce Department releases its first quarter gross domestic product estimate this morning, economists are expecting it will show the economy is on the rebound thanks in part to America's shoppers. Wall Street economists surveyed by Thomson Reuters are estimating the economy grew at a 3.4 percent annual rate... more »

• New home sales fall to record low

  February 24, 2010 4:25 PM

  Sales of new homes plunged to a record low in January, underscoring the formidable challenges facing the housing industry as it tries to recover from the worst slump in decades. The Commerce Department reported Wednesday that new home sales dropped 11.2 percent last month to a seasonally adjusted annual... more »

• Hope for the economy? Retail sales up

  February 12, 2010 8:40 AM

  Retail sales posted a better-than-expected increase in January, a welcome development that could mean stronger economic growth in coming months. The Commerce Department said Friday that retail sales increased by 0.5 percent last month, the best showing since November and higher than the 0.3 percent increase economists had expected.... more »

• November housing construction up 8.9 percent

  December 16, 2009 9:00 AM

  Construction of new homes, helped by better weather, rebounded in November following a setback in the previous month. The gain is a hopeful sign that the housing recovery is continuing, a development viewed as critical to lifting the overall economy out of recession. The Commerce Department says construction of new... more »

• October trade deficit drops to $32.9 billion

  December 10, 2009 9:30 AM

  The U.S. trade deficit unexpectedly narrowed in October as exports surged to the highest level in nearly a year. Growing exports, boosted by a weaker dollar, are expected to boost demand for American manufactured goods in coming months and provide important strength to the overall economic recovery. The Commerce Department... more »

• Imported oil sends trade deficit soaring

  November 13, 2009 10:20 AM

  The U.S. trade deficit widened more than expected in September as foreign oil prices rose to the highest level in nearly a year, swamping a fifth consecutive gain in exports. Economists expect a rebounding global economy will keep pushing demand for exports higher, helping to bolster the U.S. recovery. The... more »

• Trio of strong economic reports lift hopes for recovery

  November 2, 2009 4:46 PM

  A trio of better-than-expected economic reports are boosting hopes for the fledgling economic recovery. A closely followed private sector gauge of manufacturing activity is showing growth. The Institute for Supply Management says its manufacturing index read 55.7 last month, compared with 52.6 in September. It's the third straight reading above... more »

• Housing construction rises 1.5 percent in August

  September 17, 2009 9:07 AM

  The government says housing construction rose in August to the highest level in nine months as a big surge in apartment building offset a decline in single-family activity. The Commerce Department said Thursday that construction of new homes and apartments rose 1.5 percent to an annual rate of 598,000 units... more »