AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
July Consumer Spending Strong
1Spending rose 1%, above estimates. Durable goods spending surged 3.7% as automakers once again offered 0% loans. Year over year, spending rose 5%, the best since May '01. Adjusted for inflation, real spending growth was the best since Oct. '00. Consumers likely used debt and cash from refinancing to raise spending. Personal incomes were flat from June. More on this page
Midwest Manufacturing Picks Up
2The Chicago purchasers' index rose more than expected in Aug., gaining 3.4 points to 54.9. A reading above 50 indicates growth. New orders and output also showed bigger gains last month. But the employment index dropped, suggesting more factory job cuts. The report suggests a pickup in the national ISM manufacturing index for Aug. on Tuesday. See Vital Signs on A2
WTO OKs Big Sanctions On U.S.
3The World Trade Organization said the EU can impose $4 bil in sanctions against the U.S. in retaliation for tax breaks given to U.S. firms operating abroad. That's 20 times the record. The EU said it might target nuclear reactors, auto parts, food and textiles unless the U.S. ends its policy. Experts say the EU is more likely to use the sanctions as leverage than to impose them.
Fed Rejects Blame For "Bubble'