Department of Commerce

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US Retail Sales Rise 0.5%
 US Retail Sales Rise 0.5% 
Jan 15, 2013 9:13 AM CST

US Retail Sales Rise 0.5%

Holiday sales indicate that no one was worried about fiscal cliff

(Newser) - US consumers increased their spending at retail businesses in December, buying more autos, furniture, and clothing. Steady job growth and lower gas prices kept consumers shopping for the holidays, despite worries about potential tax increases. The Commerce Department said today that retail sales rose 0.5% in December from November,...

Housing Starts Soar to Highest Since 2008

Almost all of the growth comes in apartments, townhouses

(Newser) - The housing market might finally be coming around. The number of new homes that began construction last month took a surprise 3.6% leap to an 894,000 annual rate—the highest since July 2008, the Commerce Department announced today. That's well above the 840,000 economists surveyed by...

Consumer Spending Jumps 0.8%
Consumer Spending
Jumps 0.8%
Oct 29, 2012 8:44 AM CDT

Consumer Spending Jumps 0.8%

It's the best report in 7 months, but outpaces income growth

(Newser) - Americans increased their spending in September at twice the rate their income rose, a sign of confidence in the economy. The Commerce Department says consumer spending increased 0.8% in September, the best showing since February. Personal income rose 0.4%, an improvement from a slight 0.1% gain in...

Why June's Falling Retail Sales Matter

Because drop marks the first 3-month decline since 2008

(Newser) - Americans cut their spending at retail businesses for a third straight month, as a weak job market has made consumers more cautious. The Commerce Department says retail sales fell 0.5% in June from May. That followed declines of 0.2% and 0.5% in the previous two months. It...

Obama Wants Power to Merge 6 Trade Agencies

Move aims to cut down on government bureaucracy

(Newser) - President Obama will today announce a plan to mash together six federal agencies—including the Commerce Department—in an effort to simplify the government's sprawling regulatory bureaucracy. Obama can't actually make the move without Congressional approval, however, so he intends to ask Congress for a special reorganizational power—...

Obama to Tap Energy Exec for Commerce

Former energy CEO John Bryson picked to head Dept. of Commerce

(Newser) - President Obama will nominate businessman John Bryson to lead the Commerce Department, a White House official said today. Bryson's appointment brings another private sector player into an administration that has been making a concerted effort to improve its relationship with the business community. Bryson is a former chairman and...

Americans Buy $1.2T Worth of Stuff They Don’t Need

That's about 11% of total consumer spending

(Newser) - Ever wonder how much Americans spend on non-essential goodies such as jewelry, yachts, booze, and even candy? A lot, as in $1.2 trillion, or about 11% of total consumer spending, reports the Wall Street Journal . The percentage is up from 9.3% a decade ago and 4% in 1959,...

Multinationals Cut 2.9M US Jobs, Hired 2.4M Abroad

Skilled jobs oozed out of the States in the 2000s

(Newser) - The US Commerce Department released a report today throwing into sharp relief just how drastically US multinational corporations are shifting jobs overseas. During the 2000s, US companies cut 2.9 million jobs in the US, while hiring 2.4 million abroad—including an increasing number of highly-skilled workers, the Wall ...

Retail Sales Rise for 5th Straight Month

Low inflation, big discounts bring customers to stores

(Newser) - Retail sales rose for a fifth straight month in November, as the biggest jump in department store sales in two years gave the holiday shopping season a strong start. Retail sales increased 0.8% last month, the Commerce Department announced today, beating analyst predictions of a 0.5% increase, according...

White House Plans Internet Privacy Watchdog

New consumer protection laws to be drafted

(Newser) - The Obama administration is stepping up efforts to increase regulation of the Internet and protect users' privacy. New laws to bring protections in line with today's technology are being drafted, along with plans to create a new position to oversee the administration's efforts, sources tell the Wall Street Journa l....

New Home Sales Take Huge Leap
 New Home Sales 
 Take Huge Leap 

Apr 23, 2010 10:08 AM CDT

New Home Sales Take Huge Leap

Crucial metric scores biggest jump in 47 years

(Newser) - Sales of new homes surged 27% last month, bouncing off the previous month's record low and blowing past expectations as better weather and government incentives boosted sales. In all, new home sales rose to a seasonally adjusted annual pace of 411,000 in March, the biggest monthly jump in 47...

Q3 GDP Growth More Like 2.8% Than 3.5%

 Q3 GDP Growth More 
 Like 2.8% Than 3.5% 
FUZZY MATH DEPT
Nov 24, 2009 9:29 AM CST

Q3 GDP Growth More Like 2.8% Than 3.5%

Spending and home prices are up, but not enough to help jobs

(Newser) - The government’s optimistic reading of GDP growth in the 3rd quarter was distorted by a pair of rose-tinted glasses, it now says. The Commerce Department has revised its estimate down to 2.8% from 3.5% on evidence that stimulus programs like Cash for Clunkers and the homebuyers' tax...

Economy Shrinks Faster Than Expected in 1st Quarter

6.1% pace fueled by biz cutbacks, export drop

(Newser) - The US economy shrank at a worse-than-expected 6.1% pace at the start of this year as sharp cutbacks by businesses and the biggest drop in US exports in 40 years overwhelmed a rebound in consumer spending. Today's Commerce Department report dashed hopes that the recession's grip on the country...

March New Home Sales Down 0.6%
March New Home Sales Down 0.6%
Apr 24, 2009 11:09 AM CDT

March New Home Sales Down 0.6%

But that's good news: Numbers are actually better than expected

(Newser) - New US home sales dipped slightly last month but still beat expectations as builders start to see long-awaited encouraging signs about the housing market—including a dip in the inventory of new homes for sale. Sales fell 0.6% in March to a seasonally adjusted annual rate of 356,000,...

Are Compact Fluorescent Bulbs Junk?
Are Compact Fluorescent Bulbs Junk?
Mar 28, 2009 2:35 PM CDT

Are Compact Fluorescent Bulbs Junk?

Buyers complain that some eco-lights last hours, not years

(Newser) - Compact fluorescent light bulbs cost a little more than regular bulbs, but they’re supposed to last for 10,000 hours, cut your electric bill, and, incidentally, help save the planet. But buyers are finding a disturbing number of bulbs that last hours, not years, the New York Times reports....

Senate Approves Locke as Commerce Secretary

(Newser) - The Senate today confirmed former Washington Gov. Gary Locke as commerce secretary, handing President Obama an easy victory after his first two nominees for the post withdrew. Locke, 59, was America's first Chinese-American governor, serving two terms from 1997 to 2005. He has promised to focus on job creation and...

Obama's Agenda Dwarfs His Staff

President's team stretched thin despite flurry of appointments

(Newser) - President Obama is filling government jobs more quickly than his predecessors, but there's so much going on that his team is still stretched thin, the Wall Street Journal reports. Obama is juggling the economic crisis, stimulus package, and two wars, all with just 43 confirmed aides. "No one since...

GDP Drop Worst in 26 Years
 GDP Drop Worst in 26 Years 
Feb 27, 2009 8:09 AM CST

GDP Drop Worst in 26 Years

Worse than anticipated

(Newser) - The US economy contracted at a staggering 6.2% pace at the end of 2008, the worst showing in more than a quarter-century, as consumers and businesses ratcheted back spending, plunging the country deeper into recession. That's drastically worse than the 3.8% the government originally estimated, and the 5....

Commerce Nom Locke a Rock Star in China

As Washington state governor, he cultivated deep trade ties

(Newser) - The third time was the charm for China—at least in terms of President Obama's picks to head the Commerce Department, reports the New York Times. Former Washington Gov. Gary Locke, to be introduced today as the administration's latest nominee, brings a reputation for pragmatism, a scandal-free resume, and deep...

Gregg Flap Sheds Light on Perennial Census Battle

(Newser) - Judd Gregg’s flirtation with the top job at Commerce has brought the partisan battle over the US Census to the fore with just a year to go before before the official count, the New York Times reports. Most Americans may not think of the census as a political tool,...

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