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Tag Archives: great recession

Consumer borrowing rises, but credit card debt down

WASHINGTON — Americans cut back on credit card use in June, a sign that high unemployment and slow growth have made some more cautious about spending. Still, total consumer borrowing increased as many kept taking out loans to buy cars ...

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Bernanke says many struggle despite U.S. recovery

WASHINGTON — Federal Reserve Chairman Ben Bernanke says data that show the U.S. economy in recovery doesn’t fully capture the tough times felt by many. Bernanke says that while measures of consumer spending, income and wealth point to improvement, “many ...

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Private survey: U.S. economy added 163K jobs in July

WASHINGTON (AP) — A private survey shows U.S. businesses kept hiring at a modest pace in July, suggesting the job market could be improving after three sluggish months. Payroll provider ADP said Wednesday that businesses added 163,000 jobs last month. ...

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U.S. consumers more confident in the economy in July

NEW YORK — Americans breathed a bit easier about the economy in July, as a better outlook on short-term hiring and lower gas prices offset lingering worries about poor income growth. The Conference Board said Tuesday that its Consumer Confidence ...

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Gov’t: Great Recession bit less weak than thought

WASHINGTON (AP) — Here’s a small consolation: The Great Recession wasn’t quite as horrendous as previously thought. But it was still pretty horrendous: Updated government estimates from January 2009 through December 2011 show that the downturn remains by far the ...

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Bernanke: Fed’s efforts have helped the economy

WASHINGTON — Chairman Ben Bernanke told lawmakers Wednesday that the Federal Reserve’s efforts to bolster growth have helped lift the U.S. economy out of the Great Recession. But he acknowledged that growth remains weak and the Fed can only do ...

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U.S. growth slowed to 2.2 percent in first quarter

WASHINGTON — The U.S. economy grew more slowly in the first three months of this year. Governments spent less, and businesses cut back on investment. But consumers spent at the fastest pace in more than a year. The result suggests ...

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