Road to recovery | Journal Gazette

Falling yen aids consumers

Associated Press — Mon, 20 May 2013 03:00:00 EST

Attention, bargain-hunters around the world: Japanese goods - from cars to televisions - are going on sale.

Labor participation may stay low

Aki Ito — Mon, 20 May 2013 03:00:00 EST

Workers who have dropped out of the labor force may take a few years to begin searching for work, Federal Reserve economists say in a paper offering insights into the health of a labor market that's key to central bank policy.

China faces unrest over slow economy

JOE McDONALD — Sun, 19 May 2013 03:00:00 EST

Global economic malaise has knocked the stuffing out of Luo Yan's business making toy animals.

Poll: Recovery to reach '15

David J. Lynch — Sat, 18 May 2013 03:00:00 EST

The U.S. economy will continue to recover until at least 2015 without tumbling into a recession, achieving the sustained growth that has eluded it since the last slump ended four years ago, according to a Bloomberg poll.

Housing starts fall 16.5% in April

MARTIN CRUTSINGER — Fri, 17 May 2013 03:00:00 EST

U.S. builders broke ground on fewer homes in April, one month after topping the 1 million mark for the first time since 2008. But most of the decline was in apartment construction, which tends to vary sharply from month to month.

Output slows for most goods

MARTIN CRUTSINGER — Thu, 16 May 2013 03:00:00 EST

U.S. manufacturers cut back on production in April, as auto companies cranked out fewer cars, factories made fewer consumer goods and most other industries reduced output. The weakness suggests economic growth may be slowing.

Borrowers keeping up mortgages

John Gittelsohn — Sun, 12 May 2013 03:00:00 EST

Six years after the start of the foreclosure crisis, American homeowners are paying their mortgages as if the housing crash never happened.

Finance leaders talk of economic recovery

PAN PYLAS and MARTIN BENEDYK — Sat, 11 May 2013 03:00:00 EST

Financial leaders from the world's top seven developed economies are gathering in the United Kingdom to discuss how to shore up the global recovery just as the stimulus measures of one its members, Japan, have caused its currency to take a dramatic slide.

Bernanke says Fed raising its vigilance

MARTIN CRUTSINGER — Sat, 11 May 2013 03:00:00 EST

The Federal Reserve has broadened its oversight beyond banks and now monitors a wide range of financial institutions that could hasten another financial crisis, Chairman Ben Bernanke said Friday.

Wholesale stockpiles up 0.4%

MARTIN CRUTSINGER — Fri, 10 May 2013 03:00:00 EST

Wholesale businesses stepped up their restocking of supplies in March, but their sales fell sharply. The Commerce Department said Thursday that stockpiles held by wholesalers rose 0.4 percent in March compared with February, when they had fallen 0.3 percent.

US consumers cut back on credit use

MARTIN CRUTSINGER — Wed, 08 May 2013 03:00:00 EST

Americans cut back on using their credit cards in March, suggesting many were reluctant to take on high-interest debt to make purchases.

Rail revenue from coal on rise after 5 lean years

Jeff Kearns — Mon, 06 May 2013 03:00:00 EST

Railroads such as Union Pacific and Burlington Northern Santa Fe may be rolling past the record slump in coal volume as costlier natural gas and summer weather rekindle demand from the nation's power plants.

Buffett satisfied economy sound

JOSH FUNK — Sat, 04 May 2013 03:00:00 EST

Investor Warren Buffett believes that the economy and the U.S. job market will continue to improve, but slowly.

Factory orders off 4% in March

MARTIN CRUTSINGER — Sat, 04 May 2013 03:00:00 EST

Orders to U.S. factories fell in March by the largest amount in seven months, but a key category that signals business investment plans increased.

Jobs data ease fears of slump

CHRISTOPHER S. RUGABER — Sat, 04 May 2013 03:00:00 EST

The U.S. economy showed in April that it's healthier than many had feared, adding a solid 165,000 jobs and driving the unemployment rate down a notch to a four-year low of 7.5 percent.

Jobless claims at 5-year low, raising hopes of hiring gains

CHRISTOPHER S. RUGABER and MARTIN CRUTSINGER — Fri, 03 May 2013 03:00:00 EST

Fewer Americans are losing their jobs. Employers are struggling to squeeze more work from their staffs. The U.S. is producing so much oil that imports are plunging, narrowing the trade deficit.

Manufacturers see growth, but slowly

CHRISTOPHER S. RUGABER — Thu, 02 May 2013 03:00:00 EST

U.S. factory activity expanded at a slower pace in April, held back by weaker hiring and less company stockpiling. The report is the latest sign that economic growth may be slowing this spring.

Building spending continues to decline

MARTIN CRUTSINGER — Thu, 02 May 2013 03:00:00 EST

Spending on U.S. construction fell in March as the biggest drop in government projects in more than a decade overwhelmed strength in home building.

Housing costs, cheap gas buoy US confidence

CHRISTOPHER S. RUGABER — Wed, 01 May 2013 03:00:00 EST

Americans are more optimistic the job market is healing and will deliver higher pay later this year.

Banks' workforce shrinking

CHRISTINA REXRODE — Mon, 29 Apr 2013 03:00:00 EST

Banks aren't the big jobs machines they used to be.

Immigration bill tackles outsourcing

KAY JOHNSON — Sun, 28 Apr 2013 03:00:00 EST

Low-cost efficiency put India's outsourcing companies at the heart of global business and created a multibillion dollar industry that for years has skated over criticism it was eliminating white-collar jobs in rich nations. Now, the industry's long-held fears of a backlash are being realized in its crucial U.S. market.

Data show truck industry poised to recover

Mark Clothier — Sun, 28 Apr 2013 03:00:00 EST

Net heavy truck orders have been above 20,000 since December, an indication trucking companies are doing more than just swapping out aging tractors for new ones.

Small firms brush off sequester

Associated Press — Sun, 28 Apr 2013 03:00:00 EST

Washington's budget tightening is having a minimal effect on businesses, a survey of business economists shows.

Economy growing at 2.5%

MARTIN CRUTSINGER and CHRISTOPHER RUGABER — Sat, 27 Apr 2013 03:00:00 EST

After nearly stalling in late 2012, the nation's economy quickened its pace early this year despite deep government cutbacks. The strongest consumer spending in two years fueled a 2.5 percent annual growth rate in the January-March quarter.

Americans felt more secure in jobs in 2012, survey finds

CHRISTOPHER S. RUGABER — Fri, 26 Apr 2013 03:00:00 EST

Confidence in the U.S. job market has rebounded to roughly a normal level from its record low after the last recession, a trend that could help boost the economy.

Richest 7% get even richer

PAULINE JELINEK — Wed, 24 Apr 2013 03:00:00 EST

The richest Americans got richer during the first two years of the economic recovery while average net worth declined for the other 93 percent of U.S. households, a report released Tuesday said.

Poll: Public gets pessimistic again

TOM RAUM and JENNIFER AGIESTA — Sat, 20 Apr 2013 03:00:00 EST

For the third year in a row, the nation's economic recovery has hit a springtime soft spot. Reflecting that weakness, only 1 in 4 Americans now expects his or her own financial situation to improve over the next year, a new Associated Press-GfK poll shows.

Leading indicators sag in March, signal slower growth

CHRISTOPHER S. RUGABER — Fri, 19 Apr 2013 03:00:00 EST

A measure of the U.S. economy's future health declined slightly in March, signaling that growth could slow this spring.

Home-building boom ongoing

MARTIN CRUTSINGER — Wed, 17 Apr 2013 03:00:00 EST

U.S. homebuilders broke the 1 million mark in March for the first time since June 2008. The gain signals continued strength for the housing recovery at the start of the spring buying season.

Stocks take biggest fall since Election Day

MATTHEW CRAFT — Tue, 16 Apr 2013 03:00:00 EST

A steep fall in commodity prices led the stock market to its worst day this year Monday, as worries about the global economy resurfaced. The Dow Jones industrial average dropped 265 points, its biggest loss in five months.

2 banks see record profit, revenue slip

CHRISTINA REXRODE and STEVE ROTHWELL — Sat, 13 Apr 2013 03:00:00 EST

JPMorgan Chase and Wells Fargo, bellwethers for the banking industry, reported record earnings Friday, but those numbers masked troubling declines in revenue.

Orland seed firm to expand

Journal Gazette — Tue, 09 Apr 2013 03:00:00 EST

Lord's Seed LLC, an agricultural production company, will invest $13 million to expand operations in Orland, creating up to 16 new jobs by 2016.

US halfway to goal of doubling exports

TOM RAUM — Mon, 08 Apr 2013 03:00:00 EST

Suddenly, outsourcing is on the way out and insourcing on the way in as the U.S. trudges unevenly toward President Obama's goal of doubling American exports around the world by the start of 2015.

Mexico builders crash as foreclosures climb

Jonathan Levin — Sun, 07 Apr 2013 03:00:00 EST

Just as the U.S. emerges from the worst of its foreclosure crisis, Mexico's is getting worse.

Job growth stagnant in March

CHRISTOPHER S. RUGABER and PAUL WISEMAN — Sat, 06 Apr 2013 03:00:00 EST

A streak of robust job growth came to a halt in March, signaling that U.S. employers may have grown cautious in a fragile economy.

Manufacturing slogs along

PAUL WISEMAN — Tue, 02 Apr 2013 03:00:00 EST

A survey shows U.S. manufacturing activity expanded more slowly in March than February, held back by weaker growth in production and new orders. But factories hired at the fastest pace in nine months, an encouraging sign ahead of Friday's report on March employment.

Home construction orders ignite 1.2% spending surge

MARTIN CRUTSINGER — Tue, 02 Apr 2013 03:00:00 EST

Spending on U.S. construction projects rebounded in February, helped by a surge in home construction, which rose to the highest level in more than four years.

Payroll growth picking up

Rich Miller and Shobhana Chandra — Mon, 01 Apr 2013 03:00:00 EST

At Industrial Builders Inc., Paul Diederich plans to boost payrolls about 10 percent this year.

Iconic takeovers taking a holiday

David Welch, Aaron Kirchfeld and Matthew Monks — Mon, 01 Apr 2013 03:00:00 EST

While the proposed takeovers of Dell and H.J. Heinz dominated headlines in the first quarter, global dealmaking stumbled, with March on track to be the worst month for mergers in more than three years.

Manufacturing rally? Not so fast

Washington Post — Mon, 01 Apr 2013 03:00:00 EST

One of the hottest trend stories in recent years has been the idea that U.S. manufacturing is on the verge of a sustained, permanent comeback.

US home value highest since '07

Kathleen M. Howley — Sun, 31 Mar 2013 03:00:00 EST

More American homeowners will be able to use their properties as cash machines again after real estate equity jumped last year by the most in 65 years.

Consumer spending hits 5-month high

Shobhana Chandra — Sat, 30 Mar 2013 03:00:00 EST

Consumer spending climbed in February by the most in five months as incomes rose, signaling that an improving job market is spurring demand.

Stocks rise in Asia after S&P record

PAMELA SAMPSON — Sat, 30 Mar 2013 03:00:00 EST

Asian stock markets were mostly higher Friday as momentum carried over from yet another record high on Wall Street.

S&P 500 index soars to record-high 1,569

CHRISTINA REXRODE — Fri, 29 Mar 2013 03:00:00 EST

For the second time in less than a month, the American stock market marched past another milepost on its long, turbulent journey back from the last recession, toppling another record left over from the days before government bailouts and failing investment banks.

Economy crawling at year-end

MARTIN CRUTSINGER — Fri, 29 Mar 2013 03:00:00 EST

The U.S. economy grew at a slightly faster but still anemic rate at the end of last year. However, there is hope that growth accelerated in early 2013 despite higher taxes and cuts in government spending.

Homes, goods lift US economy

MARTIN CRUTSINGER — Wed, 27 Mar 2013 03:00:00 EST

Gains in housing and manufacturing propelled the U.S. economy over the winter, according to reports released Tuesday, and analysts say they point to the resilience of consumers and businesses as government spending cuts kick in.

Mining, energy fields lack staff

VICKI SMITH — Mon, 25 Mar 2013 03:00:00 EST

The United States isn't producing enough qualified workers to meet the future needs of the mining and energy sectors, from coal digging and gas drilling to solar and wind power, a new report says.

Jobless get by in shadow economy

Joshua Zumbrun — Sun, 24 Mar 2013 03:00:00 EST

When Kevin Kalmes received a foreclosure notice on her home after being unemployed for more than two years, she said, she started selling the contents of her basement, figuring, "I can't fit all this stuff in a Wal-Mart shopping cart."

Workers saving too little to retire

MARK JEWELL — Sun, 24 Mar 2013 03:00:00 EST

Workers appear to have little faith that the economic recovery and the stock market's climb have left them better prepared for retirement.

Leading-indicators index posts 0.5% rise

CHRISTOPHER S. RUGABER — Fri, 22 Mar 2013 03:00:00 EST

A measure of the U.S. economy's health over the next six months increased in February from January, a sign that growth could be improving.

Fed holding line on stimulus

MARTIN CRUTSINGER — Thu, 21 Mar 2013 03:00:00 EST

The Federal Reserve said Wednesday that the U.S. economy has strengthened but still needs the Fed's extraordinary support to help lower high unemployment.

Freddie Mac suit says banks rigged rate

MARCY GORDON — Thu, 21 Mar 2013 03:00:00 EST

Freddie Mac has sued 15 big international banks, including JPMorgan Chase, Bank of America and Citigroup, accusing them of rigging a key interest rate and causing huge losses for the government-controlled mortgage giant.

Housing starts up, point to a rebound

CHRISTOPHER S. RUGABER — Wed, 20 Mar 2013 03:00:00 EST

U.S. builders started more homes in February, and permits for future construction rose at the fastest pace in 4 1/2 years. The increases point to a housing recovery that is gaining strength.

Fed likely to keep backing low-rate policies

MARTIN CRUTSINGER — Wed, 20 Mar 2013 03:00:00 EST

The U.S. economy is strengthening on the fuel of more job growth, rising home prices and solid retail sales. Just don't expect the Federal Reserve to let up in its drive to keep stimulating the economy with record-low interest rates. Not yet, anyway.

Geico boosts Indiana hiring

Associated Press — Tue, 19 Mar 2013 03:00:00 EST

Geico plans to open a customer service center just north of Indianapolis, creating up to 1,200 jobs by 2016, Gov. Mike Pence and company Chairman Tony Nicely announced Monday.