Posts Tagged ‘US’
US consumer borrowing rises for first time in a year
The Federal Reserve has announced borrowing by American consumers grew for the first time in a year in January.
According to the central bank, consumer credit rose 2.4% or $5 billion (£3.3 billion) compared with the previous month to a total of $2.45 trillion.
It was the first increase after a record 11 months of declines [...]
US unemployment rate holds steady at 9.7%
The Labor Department has today revealed the US unemployment rate remained unchanged at 9.7% in February and lower than the 10% rate reported in December.
According to the Labor Department, employers cut 36,000 jobs last month – fewer than the 50,000 analysts had been expecting and compares to a revised 26,000 job cuts in January.
In [...]
US Fed’s influential Beige Book sees modest growth
The latest publication of the US Federal Reserve’s influential Beige Book reported that the world’s largest economy has continued to grow this year but at a “modest” pace.
The Beige Book, which is compiled eight times a year, is based on reports and comments from businesses throughout the US.
It said despite a pick up in consumer [...]
Handful of countries see house price growth in 2009
The Rics European Housing Review 2010 has revealed a mixed bag for European house prices.
The Royal Institution of Chartered Surveyors (Rics) found that only five countries reported growth in house prices – with the UK being one of them – rising by 1% in 2009.
Norway led the way with a 12% gain during 2009, while [...]
Buffett confident of US housing market recovery
Respected US billionaire investor Warren Buffett has said the problems in the US property market will be over within a year.
In his annual letter to shareholders in Berkshire Hathaway, the investment group controlled by Mr Buffett, he said prices will remain ‘far below bubble levels’ for the medium term.
He added: “People thought it was [...]