Economy

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Thanksgiving Travel Forecast at 7-Year High

With gasoline prices at a five-year low, AAA Travel predicts that 46.3 million Americans will travel more than 50 miles to celebrate the holiday, the highest number of travelers since ...
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Philly Fed Blows Out Estimates in November

The Philadelphia Fed released its November Business Outlook Survey on Thursday morning. The main reading in the survey, the current activity index, suggested a pickup in growth when it blew ...
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CPI Firms Up in October

The U.S. Department of Labor released the November Consumer Price Index (CPI) reading Thursday morning. The reading came in flat against a Bloomberg consensus estimate of -0.1%. The previous reading ...
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Thanksgiving Dinner Cost Rises Faster Than Family Income

The national average cost of a Thanksgiving dinner for a family of 10 this year has risen less than 1% year-over-year, from $49.04 to $49.41. In 2004 the same dinner ...
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Weekly Jobless Claims Continue to Bounce Off Recovery Lows

The U.S. Department of Labor released its weekly jobless claims for the week ending on November 15. The reading came in at 291,000, against a Bloomberg consensus estimate of 284,000. ...
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Euro

Eurozone PMI Well Below Forecast — Markit

In a sign that the recession that ravaged the eurozone continues to drag on its economy, its most recent Purchasing Managers Index (PMI), as measured by Markit, missed most expectations ...
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Fed October FOMC Minutes: Long Live the Status Quo!

The Federal Reserve has released the minutes from the October FOMC meeting. The report took into account the increased slowdown risks from China, Europe and Japan. One takeaway is that ...
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Will Cold Weather Damage Fourth-Quarter GDP?

By some measures, first-quarter U.S. gross domestic product (GDP) was pummeled by $50 billion due to cold weather and snow. Another snap of similar weather has occurred over the past ...
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Inflation

October PPI More Inflationary Than Expected, at Least on the Surface

The U.S. Department of Labor released the data for October’s Producer Price Index, or PPI. The inflation at the producer level for October was higher than expected, and headline inflation ...
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Draghi Talks More About Coming Quantitative Easing

Mario Draghi, President of the European Central Bank (ECB), spoke on Monday to the European Parliament's Economic and Monetary Affairs Committee. While there are many comments in the prepared notes ...
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NY Fed Maintains Strong Manufacturing Trends, but Not in Employment

The November 2014 Empire State Manufacturing Survey indicated that business activity continued to expand for New York-area manufacturers. The headline strength in the general business conditions index was up a ...
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Is Japan’s Recession Good for America?

Japan has slumped back into recession, a trend that has repeated itself off and on for years. Its gross domestic product (GDP) fell 1.6% on an annualized basis in the ...
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Wild Turkeys - USDA

Thanksgiving Turkeys More Expensive This Year

The latest turkey market news from the U.S. Department of Agriculture (USDA) reports that so far this year more than 192 million turkeys have been slaughtered in the United States. ...
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old cash register

October Retail Sales Sharply Higher Nearly Across the Board

The U.S. Census Bureau released advance estimates of retail and food services sales for October on Friday morning. Seasonally adjusted sales rose 0.3% to $444.5 billion, compared with September sales ...
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EU flag

Eurozone GDP and Inflation Show Why Quantitative Easing Is Becoming More Certain

Eurostat has released the flash estimate for third-quarter gross domestic product (GDP) for the eurozone. The report has a mixed bias to it. The good news is that it was ...
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