Residential real estate continues to recover at a strong pace in the United States, but U.S. factories are beginning to see a fall in demand.
A new report by CoreLogic shows that home prices rose 5% on a year-over-year basis in December 2014, with only three states—Maryland, Vermont, and Connecticut—seeing price declines. At the same time, Colorado, Texas, and New York were seeing the highest price gains.
Some of the largest retailers throughout Ukraine are noticing signs of a potential economic crisis. Though warehouses across the nation continue to hum with workers, the deteriorating economy has meant that most businesses are barely keeping their heads above water.
According to economic experts, if Kiev cannot find a way to generate billions of dollars quickly, the country could be dealing with an economic catastrophe. Many people believe Russia has bullied this smaller country and battered their economy.
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Obama’s $4 trillion budget depends on lower inflation, as the president hopes more spending on the middle class will stimulate demand and growth throughout the economy.
The new budget includes a number of initiatives that drive spending slightly higher than the prior budget, while assuming that the Consumer Price Index will rise 1.4% in 2015, down from the 1.7% increase in 2014. The budget assumes inflation will reaccelerate in 2016, where prices will rise by 1.9% before reaching the Fed’s target rate in 2017, when prices expect to rise 2.1%.
The end of 2014 saw the Philippines submit its weakest economic report in almost three years. Moves to curb graft are part of the reason behind this negative data. The abuse of power throughout the government has deterred public spending. Despite the positive things he has been able to achieve so far, President Benigno Aquino has to convince officials throughout the country to unclog the logjam.
Illinois is at the epicenter of all discussions about oil shale and fracking in the US. It could be surprising for some that Illinois happens to be the talk of the nation in terms of being the next huge horizontal oil playground in America.
Although Texas and North Dakota continue to be the biggest oil producing states in the country, Illinois is not far behind, and already has some monumental numbers to justify its claims to be part of the oil economy buzz.
Cheap oil was supposed to boost consumer spending, but instead consumers spent less as incomes fell. According to the Bureau of Economic Analysis, U.S. GDP grew at just a 2.6% annual rate in the fourth quarter of 2014, far below expectations of 3%.
Although unemployment claims have fallen to their lowest point in fifteen years, home sales are tumbling as price gains make homes unaffordable for millions.
Throughout 2013 and 2014, housing saw steady price gains while low interest rates, which fell markedly throughout 2014, encouraged more homebuyers to the market. That trend may be meeting resistance, causing home sales to tumble as flat wages and high prices make real estate unaffordable for many.
In the midst of foreign investors selling lira, Turkish investors are holding higher yield bonds over wide speculation that national interest rates will decline.
The Organization of Petroleum Exporting Countries has pretty much confirmed that it has no immediate plans of cutting its output target for crude oil. This is partly because they have to challenge the oil shale producers in America who are shaking up the industry.
According to a statement released by Iran’s oil minister, Bijan Namdar Zanganeh, the country is apparently strong enough to weather an even deeper slump in oil prices even if the country has to sell its oil at $25 a barrel.
