Orders to U.S. factories rose in December, supported by a rebound in business investment in capital goods such as heavy machinery. The results cap off another strong year for U.S. manufacturing. Combined with strong figures released Thursday on job growth in January, they signal the economic recovery is gathering strength. Factory orders rose 1.1 percent [...]
Continue reading …Hang onto your wallets, Colorado. The Legislature is back in session. It’s an old joke, but it holds special significance for the 2012 session. This year, it’s all about helping voters’ pocketbooks. Expect long arguments over the next five months about how to strengthen the economy, chip away at Colorado’s 8 percent unemployment rate, and [...]
Continue reading …Sears Holdings announced today that it plans to close 100 to 120 Kmart and Sears stores nationally, but it’s unknown whether Colorado Springs locations are on the list. Local store managers did not return calls for comment. Sears has a store in the Chapel Hills Mall at 1650 Briargate Blvd. and a stand-alone location in [...]
Continue reading …Personal income levels in the third quarter of this year rose above their 2008 peak for the first time since the recession began, according to a report from the Bureau of Labor Statistics. Personal income in Colorado hit a peak of $225 billion in the third quarter, up 3.28 percent over the previous $218.1 billion [...]
Continue reading …At least one manufacturing group is optimistic about the U.S. economy – but only if the nation addresses some key issues. Those issues are employment, consumer behavior, global economic strain and the role of politicians, said Dr. Chris Kuehl, economic analyst for the Fabricators and Manufacturers Association International. If the nation can address the problems, [...]
Continue reading …A downtown shop owner has decided to close her doors once and for all. Jeanne Galvin closed her Mt. Tejon shop downtown in the early spring and reopened in the same location before the start of the summer season as Tillie & Toad. Her clothing and consignment business didn’t catch on the way she wanted. [...]
Continue reading …The failure of the congressional “supercommittee” to agree on a deficit-reduction plan is affecting construction budgets, according to the Associated General Contractors of America. The committee of six Republicans and six Democrats was charged to create a plan to cut at least $1.2 trillion from the budget. When the group announced its failure Nov. 21, [...]
Continue reading …Seven vinyl banners draped this month along one of Chicago’s most iconic bridges, advertisements some have dubbed “a visual crime” and “commercial graffiti,” are reviving a debate about how governments raise money in tough economic times. In the aftermath of the Great Recession, a public school district in Colorado is selling ads on report cards [...]
Continue reading …Oil prices fell nearly two percent Monday over fears that the world economy will remain weak and push down demand for crude. West Texas Intermediate oil, which is used as a benchmark to price oil in much of the U.S., fell $1.30 to $96.37 in midday trading in New York. Brent crude, which is used [...]
Continue reading …Oil is rising as investors turned their attention from Europe’s debt struggles to encouraging news about the U.S. economy. Benchmark crude rose $1.01 to $93.20 per barrel on Wednesday morning in New York, while Brent crude added $1.68 at $111.22 in London. Prices rose following a report that said the private sector added 111,000 jobs [...]
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