Archive for August, 2008
Friday, August 29th, 2008
There were few surprises in the Personal Consumption and Expenditure
(PCE) report released Friday, though economists say the
data all points to weaker third-quarter results.
The personal consumption expenditures (PCE) core deflator, the Federal
Reserve's preferred measure of inflation, came in line with expectations,
advancing by 0.3% (0.273%) in July, ...
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Thursday, August 28th, 2008
The strong upward revision to second quarter U.S. GDP
was the result of strong exports and the fiscal stimulus package,
according to economists who are already looking forward to GDP results
from the third quarter.
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Thursday, August 28th, 2008
Second-quarter U.S. GDP rose above expectations in
the preliminary report, rising to 3.3% from the previously reported 1.9%,
the Bureau of Economic Analysis reported on Thursday.
Economists were expecting a revision to 2.7%. First-quarter growth in
2008 was 0.9%. Exports advanced by 13.2% in the revision, up from...
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Thursday, August 28th, 2008
In the U.S., the focus will be on preliminary Q2 GDP
data and jobless claims figures, while Canadian
markets receive second-quarter current account numbers.
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Wednesday, August 27th, 2008
The number of U.S. residents and businesses that filed for
bankruptcy rose 28.9% to 976,831 for the year ended June 30,
2008, according to U.S. court data released Wednesday.
The Administrative Office of the U.S. Courts reported that non-
business filings comprised 96.5% of that total...
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Wednesday, August 27th, 2008
Mortgage interest rates broke through the gridlock of
the last few weeks and, with the exception of one-year adjustable rates,
moved lower.
Mortgage activity as measured by the volume of loan
applications increased by a marginal 0.5 percent on a seasonally
adjusted basis from a week earlier and decreased by 0.9 ...
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Wednesday, August 27th, 2008
Sheila C. Bair, chairman of the FDIC said, "By any
yardstick, it was another rough quarter for bank earnings, but the
results were not unexpected as the industry coped with financial market
disruptions, the housing slump, worsening economic conditions, and the
overall downturn in the credit cycle."
Higher provisions for ...
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Wednesday, August 27th, 2008
German inflation data and comments from ECB's Lucas Papademos will top
the macroeconomic release menu for the European session as U.S. markets
prepare for durable goods, weekly oil inventories and a two-year bond
auction. Canada's main releases for the day include some employment data
followed by a real return bond ...
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Wednesday, August 27th, 2008
Weekly mortgage applications in the United States
increased in the week ending Aug. 22, according to data released from the
Mortgage Bankers Association (MBA) on Wednesday, which reported a 0.5%
week-over-week rise in applications.
In the previous week, applications also fell by 1.5%.
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Wednesday, August 27th, 2008
Atlanta Fed President Dennis Lockhart welcomed the
recent rise in the U.S. dollar, but said home prices in the U.S. could
fall another 10-15%.
Following a speech at an Economic Outlook Conference in Atlanta
Wednesday, Lockhart said "housing prices will continue to
decline," perhaps by as much as 15%.
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