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Tag Archives: economic growth

Survey finds modest economic growth in many regions

economic growth

WASHINGTON (AP) — The Federal Reserve said Wednesday that the economy grew at a modest pace in much of the country from April to mid-May, despite headwinds ranging from slower consumer spending to ongoing weakness in the manufacturing and the energy sectors. The Fed’s latest survey of business conditions found that half of its 12 regions described growth as modest, ...

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Slump in Chinese manufacturing weighs on markets

British EU vote

NEW YORK (AP) — Renewed concerns about economic growth abroad — specifically Europe and China — weighed on markets on Tuesday, causing stocks to erase all of the previous day’s gains. The Dow Jones industrial average lost 140.25 points, or 0.8 percent, to 17,750.91. The Standard & Poor’s 500 index lost 18.06 points, or 0.9 percent, to 2,063.37 and the ...

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Watford City barrels through downturn in oil economy

A dramatic drop in the price of oil has adversely impacted the economies of North Dakota and its oil patch cities and counties. But one area has weathered the storm better than most. Whether you take your measure from sales taxable revenue (up 11% year-over-year), construction permits or industry pundits, Watford City and McKenzie County have exceeded expectations. Experts mostly ...

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In every state, gains in income trail growth in economy

oil

Economic growth outpaced any gains in median household income in every state from 2000 to 2013, a new Stateline analysis shows. The divergence between middle-class income growth and general economic growth has been a topic of debate among economists for years. But the new analysis–which uses state gross domestic product per person as a measure of economic growth and income ...

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IEA sees oil glut persisting despite soaring demand

LONDON – World oil demand is expanding at its fastest pace in five years thanks to rebounding economic growth and low prices, but global oversupply will last through 2016, the West’s energy watchdog said on Wednesday. The International Energy Agency said in a monthly report that it was steeply raising its demand growth outlook for this year and 2016, and ...

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Why job growth and cheap gas aren’t doing what they should

WASHINGTON — Steady hiring is supposed to fire up economic growth. Cheap gasoline is supposed to power consumer spending. Falling unemployment is supposed to boost wages. Low mortgage rates are supposed to spur home buying. America’s economic might is supposed to benefit its workers. Yet all those common assumptions about how an economy thrives appear to have broken down during ...

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Exxon CEO: Get used to lower oil prices

NEW YORK — ExxonMobil CEO Rex Tillerson expects the price of oil to remain low over the next two years because of ample global supplies and relatively weak economic growth. Speaking at the company’s annual investor meeting in New York, Tillerson cautioned that geopolitical turmoil could unexpectedly send prices higher. But he said that if tensions calm, much more oil ...

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