First Quarter GDP Climbs 4.8%
Apr 28, 8:59 AM EDT |
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| Real gross domestic product - the output of goods and services produced by labor and property located in the United States - increased at an annual rate of 4.8 percent in the first quarter of 2006, according to advance estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 1.7 percent. |
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March LEI Declines 0.1%
Apr 20, 10:59 AM EDT |
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| For the second month in a row Leading Economic Indicator, and for March, declined indicating that economic growth rate is moderating. |
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| The index of Leading Economic Indicator declined in March. Most forecasters were looking for the index to remain at unchanged level. The index declined for the second month in a row and economic momentum is slowly but surely losing steam. Housing market decline is playing into the fears that rise in business spending may not be enough to sustain the economic growth higher than 3%. |
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Jobless Claims Decline
Apr 20, 9:09 AM EDT |
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| Initial claims for state unemployment benefits dropped by 10,000 to 303,000 in the week ended April 15, the Department of Labor said. |
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| The four-week average of new claims, which irons out the influence of one-time events declined by 2,250 to 305,250. The number of people collecting unemployment benefits advanced by 18,000 to 2.44 million in the week ended April 8. The largest increases in initial claims for the week ending April 8 were in California, while the largest decreases were in Alabama. |
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Gasoline Supplies Shrink
Apr 20, 6:00 AM EDT |
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| The U.S. Energy Department announced that the supply of gasoline dropped by a larger-than-expected 5.4 million barrels last week to 202.5 million. |
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| The U.S. Energy Department weekly report showed a decline in U.S. gasoline stocks, raising worries that refiners don''t have an adequate inventory cushion before the peak summer driving season. The decline, the seventh in a row, pushed gasoline stocks to 4.6 % below year-ago levels, their lowest level since November. Gasoline inventories typically decline at this time of year as refiners shut down their plants to perform maintenance before the summer driving season. |
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