Housing, factory data stir recession fears
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Factory activity in the U.S. Mid-Atlantic region contracted sharply in January and home building in December fell to the slowest pace since the early 1990s, according to reports on Thursday that reinforced fears of recession.
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Deepening worries about the economy and their personal finances put Americans in a sour mood this month, with more voters fearing a recession, according to a Reuters/Zogby poll released on Wednesday.
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Americans are worried about the economy and fear housing woes and war spending could spark a recession, despite the interest rate cut this week that sent stock markets soaring.
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Stocks tanked Tuesday afternoon, after a report showing a big slowdown in the services sector of the economy amplified fears that a recession is underway or imminent.
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The double whammy of a worsening housing slump and a credit crunch is punching the economy in its gut. That's likely to mean a period of slower activity in the months ahead.
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Wall Street lost momentum from last weekâs gains after news of declining existing home sales stirred concerns about the strength of the economy.
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Major indexes slide 4% to 8% across the region as fears intensify that the U.S. will fall into a recession, hurting exporters.
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New Census Bureau data illustrate the crushing impact of escalating real estate prices and stagnant incomes.
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Factory orders suffered their steepest drop in six years last month and an index of pending homes sales fell, according to data on Tuesday highlighting weak spots in the economy and risks to output.
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Weak durable goods orders in November fueled concern on Thursday over the resilience of the U.S. economy to the country's steep housing slump.
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U.S. factory orders suffered the steepest drop in six years last month and an index of homes sales fell, according to data on Tuesday highlighting weak spots in the economy that could derail its recovery.
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A report suggested that housing troubles were deepening and a Fed survey dampened hopes for an interest rate cut.
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Weak housing market hurting demand for power tools.
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NEW YORK -- Wall Street stumbled Friday after a key survey showed that manufacturing activity declined in November and raised concerns that the economy won't be able to achieve a soft landing.
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Ground-breaking on new U.S. homes last month fell to the slowest pace since 1991 and fewer building permits were issued than any time since 1993, according to government data released Thursday that points to a deepening housing crisis and heightened risk of recession.
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Stocks fell on Thursday after a report   said factory activity slowed sharply in the U.S. Mid-Atlantic   region in September, triggering fresh worries about an economic   slowdown and prospects for corporate profits.
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The drop-off is likely to hurt businesses that serve the housing industry, which economists donât expect to bottom out until the middle of the year.