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A decline in exports and a sharp rise in imports pushed the U.S. trade deficit in June to its widest point since October 2008, raising new concerns about the weakening economic recovery. The $49.9 billion gap is worrying economists, who fear it means the U.S. economy grew at half the rate in the April-to-June quarter… Continue Reading Trade gap likely points to slower economic growth

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Colorado housing officials say the number of new foreclosure filings in the state has reached its lowest point in five quarters. The Colorado Department of Local Affairs’ Division of Housing said Thursday that there were 10,233 new filings in the second quarter. That’s down nearly 16 percent from the second quarter last year. It’s also… Continue Reading Colorado foreclosure filings down in 2nd quarter

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Companies showed a lack of confidence about hiring for a third straight month in July, making it likely the economy will grow more slowly the rest of the year. The unemployment rate was unchanged at 9.5 percent. Private employers added a net total of only 71,000 jobs in July, far below the 200,000 or more… Continue Reading Companies hire at slow pace for 3rd straight month

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The number of new foreclosure filings in Colorado has reached its lowest point in more than a year, state housing officials said today. There were 10,233 new filings in the second quarter, the Colorado Department of Local Affairs’ Division of Housing said. That’s down nearly 15.7 percent from April-June 2009. It’s also down about 8… Continue Reading Colorado foreclosure filings down in 2nd quarter

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Consumer spending and personal incomes weak

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The pace of consumer spending stalled in June and personal incomes failed to increase, further evidence that the economic recovery slowed in the spring. Personal spending was unchanged in June, the Commerce Department reported Tuesday. It was the third straight month of lackluster consumer demand. Incomes were also flat, the weakest showing in nine months.… Continue Reading Consumer spending and personal incomes weak

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Sales of new homes jumped last month, but it was the second-weakest month on record. The lackluster economy has made potential buyers skittish about shopping for homes. New home sales rose nearly 24 percent in June from a month earlier to a seasonally adjusted annual sales pace of 330,000, the Commerce Department said Monday. May’s… Continue Reading New home sales up 24%, but buying pace still lags

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Federal Reserve Chairman Ben Bernanke told Congress Wednesday the economic outlook remains “unusually uncertain,” and the central bank is ready to take new steps to keep the recovery alive if the economy worsens. Testifying before the Senate Banking Committee, Bernanke also said record low interest rates are still needed to bolster the U.S. economy. He… Continue Reading Fed chief open to new steps to keep recovery going

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Legislation to restore unemployment benefits to millions who have been out of work for more than six months broke free of Senate Republican delaying tactics today. Senators voted 60-40 to move ahead on the bill, clearing the way for a final Senate vote later on Tuesday. The measure would restore jobless checks for 2.5 million… Continue Reading Unemployment benefits extension clears hurdle

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With unemployment levels remaining stubbornly high, the Colorado Department of Labor is seeing a rise in unemployment fraud. The state’s Department of Labor and Employment estimates it paid more than $1.69 million last year in fraudulent claims, out of a total of slightly more than $1 billion in claims paid in 2009. That’s about 1.8… Continue Reading Unemployment fraud on the rise in Colorado

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Stocks rose for a while last week but small-business confidence hasn’t caught up, not by a long shot. Business owners remain pessimistic and it didn’t help that the Federal Reserve trimmed its latest projections for gross domestic product. GDP, it said, would rise in a range of 3 percent to 3.5 percent this year. That’s… Continue Reading Small-business owners pessimistic on economy

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