Manhattan office market in Aug strongest since 2001
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The Manhattan office market in August was its strongest since before the September 11, 2001 attacks, despite the upheaval in the credit markets, according to a report by real estate services company Colliers ABR.
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Further proof New York's real estate market is inflated: The city plans to sell space on top of lampposts to wireless phone companies for &#36;21.6 million a year.
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The economy headed into the summer with strong momentum, propelled by a manufacturing rebound and consumers who eagerly went shopping and sightseeing despite high gas prices.
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Defying expectations again, the state's housing market rebounded in November, with the volume of condo sales skyrocketing 53.6 percent from the year-earlier period and setting a record for the month, according to a report released yesterday by the Massachusetts Association of Realtors.
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By Scott Duke Harris, San Jose Mercury News, Calif.  Sep. 16--Silicon Valley's economy continued to turn in modest job growth in August -- a heartening sign of the region's ongoing recovery from the tech bust of 2000, economists said.
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WASHINGTON -- Spending on construction projects unexpectedly edged up in August as the best gain in nonresidential activity in 11 months offset another big decline in home building.
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The US Commerce Department said Thursday personal income posted its biggest increase in three months in August. The government agency also said personal spending was unchanged after rising strongly in July.
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Nation's #1 office-supply retailer tops estimates, gains ground.
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U.S. stocks gained on Friday after  reports showed U.S. economic growth in the second quarter  matched economists' forecasts and consumer sentiment picked up  above expectations in late August, but volume was feather light  ahead of the upcoming Republican convention in New York City.
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WASHINGTON &#151; Sales of new homes rose by 9.4 percent in August, the Commerce Department said yesterday, as mortgage interest rates remained at low enough levels to continue enticing buyers worried about future rate increases.
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Retail sales in Britain rose strongly in August, helped by strong sales of food, official data showed on Thursday.
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Housing construction in August jumped to its highest level in five months, a dose of encouraging news for the economy&#39;s expansion.
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New York City&#39;s hotels are full for the last week of August, Mayor Michael Bloomberg said on Friday, boosting his claim that next week&#39;s Republican National Convention will provide an economic boom to the city.
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The Nasdaq Stock Market  said  on Tuesday its matched market share of stocks listed on the New  York Stock Exchange rose to 19.3 percent in August from 12.5  percent a year before.
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The credit squeeze has even affected the office market in red-hot Manhattan, as prices have declined because loans are not being made freely.
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Strong sales for impressionist and modern works were evident this week at New York's premier auction houses, with Paul Gauguin's "Maternite (II)" bringing in &#36;39.2 million and Claude Monet's "London, the Parliament, Effects of Sun in the Fog" &#36;20.1 million.
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After an extended summer vacation, Wall Street is expected to get back to its normal energetic pace this week with the release of August consumer price and retail sales reports.