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Economy - Page 15

Detroit Area Economy Worsens As Big Three Automakers Face Dire Crisis

US Industrial Production Drops 0.4 Percent

Superstorm Sandy depressed U.S. industrial output in October, while production of machinery and equipment declined sharply, reflecting a more cautious outlook among businesses.

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East Coast Begins To Clean Up And Assess Damage From Hurricane Sandy
(Photo by Bruce Bennett/Getty Images)

Superstorm Sandy Pushes US Jobless Claims to 439K

Superstorm Sandy drove the number of people seeking unemployment benefits up to a seasonally adjusted 439,000 last week, the highest level in 18 months.

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A motorist fills up gas
(Photo by Cameron Spencer/Getty Images)

US Wholesale Prices Fell 0.2 Percent in October

Wholesale inflation fell in October as a big drop in gasoline and other energy prices offset a rise in the cost of food.

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Traders work on the floor of the New York Stock Exchange
Andrew Burton/Getty Images

Another Weak Open on Wall Street; JC Penney Slides

Stocks are opening mostly lower on Wall Street, extending the market's slide to a third day.

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A "House For Sale" sign is visible in front of an existing home
Tim Boyle/Getty Images

Average Rate on 30-year Loan Rises to 3.40 Pct.

The average U.S. rate on the 30-year fixed mortgage was little changed this week, staying slightly above its record low. Cheaper mortgages are helping drive a modest housing recovery.

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A cargo ship enters the harbour
Mark Dadswell/Getty Images

US Trade Deficit Narrows to $41.5 Billion

The U.S. trade deficit declined to the lowest level in almost two years as exports rose to a record high, a gain that is not expected to last given the global economic slowdown.

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A man walks in front of the New York Stock Exchange
Mario Tama/Getty Images

Stocks Slide as Europe Slashes Its Growth Forecast

Stocks are opening sharply lower on Wall Street following the presidential election and dire warnings from Europe that a broad recession there is now all but certain.

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A "House For Sale" sign is visible in front of an existing home
Tim Boyle/Getty Images

Sales Contracts to Buy US Homes Rose Last Month

Slightly more Americans signed contracts last month to buy homes, an increase that signals further gains in the housing recovery.

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A "House For Sale" sign is visible in front of an existing home
Tim Boyle/Getty Images

US New Home Sales Rise to Highest in 2-1/2 years

Sales of new U.S. homes jumped last month to a seasonally adjusted annual rate of 389,000, the highest level since a homebuyer's tax credit boosted sales in April 2010.

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A "House For Sale" sign is visible in front of an existing home
Tim Boyle/Getty Images

U.S. Home Sales Dip 1.7 Percent on Tight Inventory

Americans bought fewer previously occupied homes in September after hitting a two-year high in August.

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