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Stories tagged: economy


Good Feelings As Clinton Meets With Ukraine Chief Economic Reform, Eliminating Nuclear Weapons Earns Praise

Ukrainian Presiden Leonid Kuchma welcomes President Clinton. Photo by Associated Press


Silver Prices Reach $6 For First Time Since ‘88

Silver prices finally pushed over the $6 an ounce barrier Thursday, rising a hefty 14 cents on the New York Comex spot market to close at $6.10. The last time …


Indicators Point To Slowdown Some Economists Say Drop May Be Prelude To Recession

The government’s main economic forecasting index took its biggest tumble in two years in March, prompting some talk of recession as financial markets rallied in hope inflation will remain at …


Incomes And Spending Increase In March Farm Subsides Boost Incomes; Spending Shows Economic Expansion Isn’t Running Out Of Steam

Boosted by farm subsidies, the income of Americans rose more strongly in March than it had in two months and spending nearly kept pace. The Commerce Department said Monday that …


Personal Incomes Climb 4.9 Percent

Iowa, South Dakota and North Dakota, helped by record crop production last year, led the way as personal income in the nation rose 4.9 percent, the Commerce Department reported Thursday. …


Housing Starts Hit Two-Year Low Soggy Weather Blamed For 20.7% Plunge In West

Construction of new homes fell in March to the lowest level in two years as builders paused for lower mortgage rates to pare inventories and for the West Coast to …


Prosperity Overshadowed By Concern

Many Americans are worrying less about the status of their pocketbooks, yet believe the country is on a long-term slide and don’t trust government a whit. Money magazine’s 10th poll …


Greenspan: Inflation Under Control Fed Chief Says Central Banks Must Maintain Progress

Inflation is under control around the globe and the job of central banks worldwide is to keep up the progress, Federal Reserve Chairman Alan Greenspan said Tuesday. On another issue, …


Inflation Almost Nil During March

Decreases in food and energy prices helped offset small increases for other consumer goods to keep the U.S. producer price index for finished goods unchanged in March, the Labor Department …


Trickle Down Is A Tricky Way To Rationalize

The nation again is being asked to believe that tax breaks for the wealthy somehow trickle down to others. It’s part of the GOP’s “Contract With America.”


Consumers Add To Installment Debt

Consumer credit rose $8.2 billion in February, a strong gain but less than the previous month’s increase of $9 billion. The latest rise in installment debt - the 27th straight …


Batt Asks Federal Aid For Beleaguered Timber Town

Gov. Phil Batt has formally asked federal officials to provide financial help to the beleaguered timber town of Council, making it the first Idaho community placed under an economic disaster …


Leading Indicators Plunge Sharpest Drop In 19 Months Signals Slower Growth Ahead

The government’s main economic forecasting gauge recorded its sharpest drop in 19 months in February. Big stock market gains prevented it from falling even further. “The signs point to slower …


Region’s Fast Growth Likely To Last Knowledge-Based Industry Offsets Loss Of Boeing Jobs

Economic growth in the Northwest, powered in large part by inmigration, will outstrip that for the nation as a whole for at least the next year, First Interstate Bank Senior …


Mexican Outlook Revised Downward

Standard & Poor’s Corp. on Wednesday affirmed Mexico’s foreign currency debt ratings but revised downward the outlook, reflecting concerns that the country faces acute difficulties ahead. The ratings agency affirmed …


Consumer Prices Shoot Up 0.3% But Housing Construction Drops To Lowest Level In A Year

Higher costs for food, education and airline fares combined to push consumer inflation up by 0.3 percent in February while housing construction fell for a second straight month. Financial markets, …


Mexican Banks Confident They Will Survive Crisis The Biggest Challenge Is Expected To Occur During The Next Three Months

The next three months will be the toughest for Mexican banks, but most will pull through their country’s economic crisis, Mexican banking leaders said Thursday. The government’s bank stabilization plan …


Mexico Plan Props Up Peso

The government is asking Mexicans already stung by rising prices to swallow a bitter pill of tax hikes, wage restrictions and other austerity measures to help cure the country’s worsening …


Mexico Unveils Economic Austerity Plan

Treasury Secretary Guillermo Ortiz announced stiff austerity measures late Thursday to brake Mexico’s financial tailspin, hours after the peso had tumbled to its fifth-straight record low. “The program that the …


U.S. Vows To Defend Weak Dollar Currency Markets Shrug Off Treasury Secretary’s Remarks

The world should be “absolutely clear” that America will defend its currency, the Clinton administration declared Thursday, striking a resolute note as financial markets continued to pound the dollar. While …


Greenspan: Defeat Caused Decline Plunge In Dollar’s Value Due To Amendment’s Failure, He Says

Greenspan


U.S. Dollar Getting Bad Reputation Investors Starting To Class Greenback With Peso And Lira

The world’s currencies rapidly are dividing up into winners and losers, and right now, the U.S. dollar is on the losing team. Along with the Mexican peso, the Italian lira …


Peso Falls Again

The peso hit a historic low of 7 to the dollar in midday trading on currency markets Monday, but rebounded slightly by afternoon. The peso was trading at 6.53 to …


Bank Intervention Fails To Halt Dollar’s Plunge American Currency Hits Another Record Low Against Japanese Yen

The U.S. dollar sank in value against most other major currencies Friday, hitting a record low against the Japanese yen despite a massive effort by central banks around the world …


Spending Spree Slows Despite Income Gains Sales Of New Homes Shoot Up 3.8% In Spite Of Higher Interest Rates

New-home sales rose in January despite higher interest rates, while the incomes of Americans posted a solid advance that exceeded spending increases. But analysts said the economy is slowing and …


Home Sales Drop To Two-Year Low

High interest rates are taking a toll on the housing market, pushing January sales of previously owned homes to the lowest level in nearly two years. In another report Tuesday, …


Strong Gain In Orders Surprises Reports Suggests Economy Remains On `Solid Footing’

Factory orders for interest-sensitive durable goods rose in January for the third straight month, led by bigger demand for industrial machinery and equipment. Analysts said talk of a dramatically slower …


Losing Steam Fed Chairman Says Signs Point Toward Slower Economic Growth

Senate Banking Committee Chairman Alfonse D’Amato, left, chats Wednesday with Federal Reserve Board Chairman Alan Greenspan prior to Greenspan’s testimony before the committee. Photo by Associated Press


Mexican Markets Slump Despite Bailout

The signing of a $20 billion loan package Tuesday failed to boost the Mexican stock markets or the peso. A sharp rise in interest rates, made as part of the …


Mexico, U.S. Agree On Financial Bailout $20 Billion In American Loans To Be Secured With Oil Revenues

Mexico agreed Tuesday to U.S. conditions for a financial bailout package which will pump up to $20 billion in U.S. treasury funds into Mexican bonds and other securities to boost …