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NRF blames politicians for fragile economy

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NRF blames politicians for fragile economy

January retail sales, which rose only 0.3 percent show consumer confidence is barely rising from the gutter.  Consumers are bogged down in payroll taxes and rise in gasoline and energy prices, say National Retail Federation executives, who blame politicians. “Today’s retail sales figures continue to indicate a stable yet fragile economy,” NRF President and CEO Matthew Shay… Continue Reading NRF blames politicians for fragile economy

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The fiscal cliff is looming larger, and the country actually might endure a series of draconian cuts and tax increases — something that was never supposed to happen. When Congress passed a law in August 2011 requiring $1.2 trillion in across-the-board cuts — half from the Department of Defense — it was supposed to serve… Continue Reading Fiscal cliff cuts start with defense but could go deeper

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Travel industry leading in job growth

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The travel industry is cruising into economic recovery, creating jobs 16 percent faster than other sectors, the U.S. Travel Association reports. The Bureau of Labor Statistics October report shows unemployment at 7.9 percent and that the economy added 171,000 jobs last month. Of those jobs added, 6,000 were travel jobs. David Huether, senior vice president… Continue Reading Travel industry leading in job growth

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Our best economic news from 2012?

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If you asked 10 people in the Colorado Springs business community to name the best news for our economic future to come out of 2012, you might hear close to 10 different answers. One might point to the long-term lease of Memorial Health System to University of Colorado Health. Someone else might single out the… Continue Reading Our best economic news from 2012?

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Four out of 10 Americans say they are spending less before the upcoming presidential election out of fear that the outcome will affect their paychecks, according to a new survey by NetCredit. The people most concerned are those nearing retirement, ages 50 to 59, with more than half saying they are spending less in the… Continue Reading Americans worry about jobs, paychecks before Election Day

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The Federal Reserve’s decision to start an open-ended program of money printing is not only dangerous, but wrong as well. The European Central Bank, the Chinese government and our own Fed announced similar programs within one week of each other. This indicates that the global economic situation is deteriorating, while the United States is slipping… Continue Reading Get the economy right or we’ll suffer consequences

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Economy divided among good and bad indicators

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El Paso County’s economy has reached a standoff between good and bad forces — and those in the business of making predictions cannot say which will win the showdown. Continue Reading Economy divided among good and bad indicators

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Dollar rises on better U.S. economic growth

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Better-than-expected economic growth and strong home sales in the U.S. are pushing the dollar higher against most major currencies. The Commerce Department said that the economy grew at a 1.7 percent annual rate in the April-June quarter. That’s better than its initial estimate of 1.5 percent. Separately, the National Association of Realtors said that its… Continue Reading Dollar rises on better U.S. economic growth

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US factory orders fell .5 percent in June

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Companies placed fewer orders with U.S. factories in June from May, signaling further weakness with manufacturing.   The Commerce Department said Thursday that factory orders fell 0.5 percent in June, the third decline in four months.   Orders for core capital goods, considered a good proxy for business investment, dropped 1.7 percent. Demand fell for… Continue Reading US factory orders fell .5 percent in June

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UPS sees global economy getting worse

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  UPS expects the global economy to get worse before it gets better. Again.   The world’s largest package delivery company is more pessimistic about U.S. growth than many economists. It predicts global trade will grow even slower than the world’s economies — a trend not seen since the recession. It’s making cuts in its… Continue Reading UPS sees global economy getting worse

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