Commerce Department

WASHINGTON | US durable goods orders up 0.8 pct., led by defense spending

WASHINGTON — Orders to U.S. factories for long-lasting goods rose at a modest pace last month, but the gain was driven entirely by demand for military aircraft. Excluding transportation equipment, orders fell. The Commerce Department said Friday that durable goods orders rose 0.8 percent in November, following a sharp fall of 4.3 percent the previous … Continue reading WASHINGTON | US durable goods orders up 0.8 pct., led by defense spending

WASHINGTON | US home construction rose last month, led by apartments

WASHINGTON — U.S. developers broke ground on more homes last month, but the increase occurred entirely in apartments. The construction of new single-family houses fell. The Commerce Department said Tuesday that housing starts rose 3.2 percent in November from the previous month to a seasonally adjusted annual rate 1.26 million. Despite the increase, that is … Continue reading WASHINGTON | US home construction rose last month, led by apartments

WASHINGTON | Record imports push US trade gap to $55.5 billion in October

WASHINGTON — Record imports in October drove the U.S. trade deficit to the highest level in a decade. The Commerce Department said Thursday that the gap between the United States sells and what it buys from foreign countries hit $55.5 billion in October, the fifth straight increase and highest since October 2008. The politically sensitive … Continue reading WASHINGTON | Record imports push US trade gap to $55.5 billion in October

WASHINGTON | US new-home sales plunged 8.9 percent in October

WASHINGTON — Sales of new U.S. homes plummeted 8.9 percent in October, as the number of newly built, unsold homes sitting on the market climbed to its highest level since 2009. The Commerce Department said Wednesday that new homes sold at a seasonally adjusted annual rate of 544,000 last month. New-home sales have declined in … Continue reading WASHINGTON | US new-home sales plunged 8.9 percent in October

WASHINGTON | US durable goods orders fall 4.4 percent in October

WASHINGTON — Orders to U.S. factories for big-ticket manufactured goods fell by the largest amount in 15 months with a key category that tracks business investment showing weakness for a third straight month. The Commerce Department said Wednesday that orders for durable goods dropped 4.4 percent last month. It was the third decline in the … Continue reading WASHINGTON | US durable goods orders fall 4.4 percent in October

WASHINGTON | US home construction rose 1.5 percent in October

WASHINGTON  — U.S. home construction improved a slight 1.5 percent in October, but in a troubling sign, ground breakings for single-family houses fell. The Commerce Department said Tuesday housing starts rose to a seasonally adjusted annual rate of 1.23 million, up from 1.21 million in September. The gains came entirely from apartments. Starts for single-family … Continue reading WASHINGTON | US home construction rose 1.5 percent in October

WASHINGTON | US retail sales rose a solid 0.8 percent last month

WASHINGTON— U.S. retail sales rose at a healthy pace in October, though the gains were likely boosted by one-time factors such as hurricane recovery spending and higher gas prices. The Commerce Department said Thursday that retail sales rose a seasonally adjusted 0.8 percent last month, following two months of slight declines. Excluding gasoline sales, which … Continue reading WASHINGTON | US retail sales rose a solid 0.8 percent last month