Economic News

LONDON (AFX) - House prices in the UK rose a hefty 187 pct over the past ten years, eclipsing gains in share prices, earnings and inflation, HBOS unit Halifax reported. The average UK house price has risen from 62,453 stg in the first quarter of 1996 to 179,425 stg in the third quarter of this year - an average increase of 10.6 pct per annum. Over the same period, stock prices rose by 61 pct or  ...

US economic growth slowed to an annual rate of 1.6% in the third quarter of 2006, its lowest level for three years. Commerce Department figures showed that the slump in the US housing market was largely responsible for the loss of economic momentum. The data showed a 17.4% annual fall in spending on new housing. During the previous three months the economy had grown by 2.6%. Now the rate is at its lowest since the first quarter of 2003, when it was 1.2%. However, some analysts said that con ...

WASHINGTON (Dow Jones) -- This is what an economic soft landing looks and feels like. This is what the Federal Reserve has been working for. The economy downshifted to its slowest growth in three years during the third quarter, expanding at a tepid 1.6% annual rate, the Commerce Department said. It's about half the growth rate that most economists think is sustainable. But it's still moving  ...

LONDON (AFX) - The dollar remained near one-month lows against the euro after suffering from the news that the US economy grew at its slowest rate in more than three years during the third quarter. The Commerce Department estimated that the economy grew at a 1.6 pct annualised rate between July and September, down on the 2.6 pct growth in the prior three months and the heady 5.6 pct recorded in t ...

NEW YORK (AFX) - Consumers' feelings about the economy are more positive in October than they were a month ago, the University of Michigan's consumer sentiment index suggested Friday. The University of Michigan's October full-month report on consumer sentiment moved to 93.6 from 85.4 in September, according to media reports. The index had stood 92.3 in the preliminary report, and according to a  ...

WASHINGTON (AFX) - Economic growth slowed to a crawl in the third quarter, advancing at a pace of just 1.6 percent, the worst in more than three years. The latest snapshot of the economy, released by the Commerce Department on Friday, showed that the slumping housing market figured prominently in the economy's dramatic loss of momentum. Investment in homebuilding was cut by the biggest amount ...

LONDON (AFX) - The dollar slid on the news that the US economy is growing at its slowest rate in more than three years. The Commerce Department estimated the economy grew at a 1.6 pct annualised rate between July and September, down on the 2.6 pct growth in the prior three months and the heady 5.6 pct recorded in the first quarter of the year. Economists had been expecting third quarter growth t ...

WASHINGTON (Dow Jones) -- U.S. economic growth slowed sharply in the third quarter, increasing at a real seasonally adjusted annual rate of 1.6% after a 2.6% increase in the second quarter, the Commerce Department said Friday. The growth rate was below the 2.0% growth rate expected by economists polled in the MarketWatch survey and the slowest since the first three months of 2003. Residentia ...

WASHINGTON (AFX) - The US economy continued to slow in the summer to the slowest growth rate in more than three years as the US Federal Reserve's preferred measure of inflation rose at the fastest yearly pace in more than a decade, the Commerce Department said Friday. The department estimated the economy grew at a 1.6 pct annualised rate between July and September, down on the 2.6 pct growth in t ...

WASHINGTON (AFX) - Economic growth slowed to a crawl in the third quarter, advancing at a pace of just 1.6 percent, the worst in more than three years. The latest snapshot of the economy, released by the Commerce Department on Friday, showed that the slumping housing market figured prominently in the economy's dramatic loss of momentum. Investment in homebuilding was cut by the biggest amount ...