Economy Enjoyed a Summer Sprint, but Mortgage Crisis Expected to Slow Pace in Final Quarter
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The economy sprinted ahead at its fastest pace in four years during the summer, but it is expected to limp through the final three months of this year.
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Personal income and consumer spending jumped more than expected in July while one measure of inflation remained tame -- positive economic news amid continued problems in the real estate industry and rising home loan default rates.
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Business & money: Housing market slows as mortgage approvals fall.
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The economy rebounded with a good head of steam in the spring before a credit crisis raised new fears about longer-term business health.
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WASHINGTON -- The economy finished 2004 with its best performance in five years despite slowing in the final stretch. The outlook ahead: a moderate jog rather than a sprint.
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Since late summer, the United States economy has demonstrated an enduring power to surprise. And not for the better.
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NEW YORK - A closely watched measure of future economic activity fell in July for the second consecutive month, reinforcing evidence that the nation's financial recovery is slackening.    The Conference Board said Thursday its Composite Index of Leading Economic Indicators dropped by 0.3 percent in July to 116.0, following a revised decline of 0.1 percent in June...
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The nightmare menace of stagflation all but disappeared in July as data showed that US consumer prices dipped, industry ramped up output and home building boomed.
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The economy in many areas of the  United States grew at a slower pace in late July and August as  household spending softened, the Federal Reserve said in a  report on Wednesday.
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An expected spike in mortgage rates was supposed to cool off the red-hot housing market, but that spike failed to happen, and real estate sales remained strong in July both locally and nationally, according to reports released yesterday.
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The U.S. economy grew overall from   mid-July to late August, the Federal Reserve said on Wednesday,   but five of the 12 Fed districts reported slowing growth as   residential construction slackened and energy costs rose.
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The U.S. economy should contract slightly in coming months as the ongoing slump in the housing industry takes a deeper toll on the economy, a gauge of future business activity showed Thursday.
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US central bank chief Alan Greenspan says the economy is emerging from a summer lull despite soaring oil prices.
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Will the market continue its recent rally, or revert back to its summertime slump?
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The economy grew at a faster pace this spring than previously thought, but was at its weakest showing in more than a year, providing ammunition to both candidates in the final weeks of the presidential race.
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Housing activity has slowed from recent years but the dragdown should not lead to a recession, mortgage finance company Freddie Mac  said on Thursday in its monthly economic outlook.
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There's momentum ahead, despite this quarter's soft numbers.