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EconNews Online is South-Western's service to provide summaries of the latest economics news stories. Review the brief summaries and, for stories of interest, select the full summary. |
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Retail sales for the
month of December rose 1.2 percent according to recently released figures
from the Department of Commerce. Consumer spending accounts for two-thirds
of Gross Domestic Product (GDP), so the outlook for consumer spending is
critical to the economic recovery. (Updated April 4, 2003) |
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Internal strife in Venezuela,
the world's fifth-largest oil exporter, sent oil prices to their highest
levels in two months. Economists are optimistic about economic growth for
2003, strikes and political unrest in Venezuela that lead to further oil
price hikes may mitigate that optimism. (Updated February 5, 2003) |
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Now that stock prices
have fallen, economists are wondering why the decrease in wealth has not
significantly reduced consumer spending. (Updated September 1, 2001) |
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Approximately $38
billion in tax rebate checks are due to be delivered to taxpayers starting
this summer. If taxpayers follow historical patterns, they will immediately
spend about a third of it, providing a slight stimulus to the economy. (Updated July 1, 2001) |
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Gasoline prices jumped
15 percent last month, to an average of $1.66 a gallon. Increases in gasoline
prices are much like tax increases, in that they reduce discretionary income
and, in the midst of a slowing economy, could throw the economy into recession.
(Updated June 1, 2001) |
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One of Alan Greenspan's
primary objectives in raising interest rates was to moderate wealth effect
spending that resulted from soaring stock markets. Now the Nasdaq and the
Dow are both down, and the declines have erased about $2 trillion in stock
value and virtually eliminated wealth effect spending. (Updated January 1, 2001) |
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Though the U.S. economy
has grown remarkably over the last several years, not all regions in the
country have had the same experience. The Washington D.C. region has had
a higher rate of job growth and a lower unemployment rate than the nation
as a whole in the past few years, because the kinds of goods it trades. (Updated July 1, 2000) |
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A typical prescription
for the stock market's continued ascent is for the economy to avoid inflation
and recession. Federal Reserve Chairman Alan Greenspan has over the year
touted the economic growth, coupled with low inflation that the "new economy"
has experienced. (Updated December 1, 1999) |
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The Eastern United States
was subject to a severe drought this past summer and many consumers feared
the effect of this drought on their food bills. The Agriculture Department
cut its harvest forecast for the Eastern U.S. to reflect the impact of the
drought; however, crop output in the Midwest will be great enough to keep
grain prices from increasing. (Updated October 1, 1999) |
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Economic-as well as
meteorological-forecasts were made of the impact of hurricane Floyd, which
was expected to cause more damage than it did and to possibly be a drag
on economic growth. Assessing the impact of hurricane Floyd has led some
economists to conclude that the storm may actually boost economic growth. (Updated October 1, 1999) |
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The U.S. and the rest
of the world have been enjoying falling energy prices for most of last year.
The OPEC and major oil producers such as Mexico and Norway are trying to
change that -- their plans for oil production have already caused oil prices
to increase by 20 percent. (Updated May 1, 1999) |
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East St. Louis, Illinois
was in trouble. The city was in debt, there was no money for gas for the
city’s police cars, trash was piling up, and there wasn’t even enough money
to light up the downtown at night. A savior appeared in the form of a casino…. (Updated August 12, 1998) |
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