Economy, Good News | featured news

The US economy grew at an annualised rate of 1.7% between April and June, figures show, up from a previous estimate of 1.6%.

Sales of U.S. homes rose 7.6% in August -- recovering from their steep descent in July, when the end of a popular government stimulus program drove sales to their lowest levels in more than a decade.

New claims for unemployment benefits fell more than expected last week to their lowest level in two months, a hopeful sign for the troubled labor market.

Export growth is propelled by higher prices for many products, including wheat, whose prices have skyrocketed as drought and heat struck Russia.

Consumer spending rose at the strongest pace in four months in July, supported by a small gain in incomes, offering hope that consumers will be able to keep contributing to a modest recovery.

Second-quarter economic growth was revised to an anemic 1.6%, a decline that was slightly less than many economists had predicted. But the report was a sobering cap to a week of bad economic news that has raised fears the nation could plunge into another recession.

New requests for unemployment benefits fell sharply last week, the first decline in a month and a hopeful sign after a raft of negative economic reports.

New U.S. claims for unemployment benefits fell slightly more than expected last week, government data showed on Thursday.

The jobless rate in 39 states and Washington, D.C. fell in June compared to the prior month, the Labor Department said. Just five states saw unemployment rate increases.

Economists say the U.S. recovery continued during the second quarter of this year with more businesses hiring workers and fewer cutting jobs, but the pace of growth has slowed, a new survey shows.