Economy News

Shoppers walk next to children's store at a mall in San Jose, Calif., Tuesday, Aug. 12, 2008. Personal incomes plunged in July while consumer spending slowed significantly as the impact of billions of dollars in government rebate checks began to wane. (AP Photo/Paul Sakuma)

Incomes drop sharply in July while spending slows

AP - 23 minutes ago

WASHINGTON - Consumer spending slowed to a crawl and personal incomes plunged in July, reflecting the waning impact of $93 billion in economic stimulus payments.

  • Jobless claims fall for 3rd straight week AP - Thu Aug 28, 9:07 AM ET

    WASHINGTON - The number of people signing up for jobless benefits declined last week, the third straight drop from a six-year high reached earlier this month, the government said Thursday.

  • Number of uninsured drops; poverty holds steady AP - Tue Aug 26, 12:19 PM ET

    WASHINGTON - The number of people lacking health insurance dropped by more than 1 million in 2007, the first annual decline since the Bush administration took office, the Census Bureau reported Tuesday.

  • Byron Rodas works on the roof line of a modular home at the Westchester Modular Homes factory in Wingdale, N.Y. Thursday, Aug. 7, 2008. The employee-owned company produces about 400 modular homes annually. Sales of new homes posted an unexpected gain in July as heavily discounted properties enticed cautious house hunters to become home buyers. (AP Photo/Craig Ruttle)
    New-home sales rose slightly in July, prices fell AP - Tue Aug 26, 12:08 PM ET

    WASHINGTON - Sales of new homes rose in July, but still fell short of economists' expectations, and home prices continued to sink.

  • Gov't home price index posts largest-ever drop AP - Tue Aug 26, 10:29 AM ET

    WASHINGTON - U.S. home prices fell 4.8 percent in the second quarter compared with a year ago, a new record low, according to a government report.

  • Demolition derby drivers compete in the V-8 engine class at the Valley District Fair Wednesday, Aug. 13, 2008, in Reedsville, W.Va., Soaring scrap metal prices are making crashable cars more expensive and harder to find. (AP Photo/Vicki Smith)
    Demolition derbies take hit from high scrap prices AP - Fri Aug 22, 8:54 AM ET

    REEDSVILLE, W.Va. - Mud is flying, smoke and steam are rising, and the deafening roar of V-8 engines all but drowns out 5-year-old Shelby Scott's screams.

  • UK economic growth ground to a halt in Q2 AP - Fri Aug 22, 6:52 AM ET

    LONDON - British economic growth ground to a halt between April and June, ending more than 15 years of continuous expansion, the government said Friday, as many fear the country is headed for recession.

  • Mexico GDP grows 2.8 percent in 2nd quarter AP - Thu Aug 21, 9:56 PM ET

    MEXICO CITY - Mexico's economy expanded 2.8 percent in the second quarter, up slightly over 2.6 percent growth in the first three months of the year.

  • Japan's trade surplus falls 86.6 percent in July AP - Wed Aug 20, 10:05 PM ET

    TOKYO - Japan's trade surplus in July fell 86.6 percent from a year earlier as spending on imports grew because of higher prices for oil and other commodities, the government said Thursday.

  • Labor Dept: Fewer workers killed on job in 2007 AP - Wed Aug 20, 12:07 PM ET

    WASHINGTON - The number of workers killed on the job annually dropped to a historic low in 2007, the Bureau of Labor Statistics announced Wednesday.