Economy

6:34am

Fri January 27, 2012
The Two-Way

Signaling Modest Growth, U.S. GDP Grew At 2.8 Percent In Fourth Quarter

The United States economy continued to expand modestly toward the end of 2011. The Commerce Department says it grew at an annual rate of 2.8 percent in the fourth quarter and 1.7 in all of 2011.

This means that the economy has expanded for the last two years, after a 3.5 percent decline in 2009. The economy did slow down in 2011. It grew 3 percent in 2010.

The Commerce Department explains:

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9:39am

Thu January 26, 2012
Author Interviews

Was The Stimulus Package 'Money Well Spent?'

Originally published on Thu January 26, 2012 11:39 am

iStockphoto.com

No issue will be more important in the upcoming presidential election than President Obama's handling of the nation's economy. Critical to that debate is an assessment of the Obama administration's economic stimulus program. Republicans claim it was a costly failure. Supporters maintain it saved the U.S. from a depression.

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8:37am

Thu January 26, 2012
The Two-Way

Capping Worst Year On Record, Sales Of New Homes Drop In December

2011 was the worst year on record for sales of new homes. The dismal year was capped by a drop in home sales in December.

The AP reports:

"The Commerce Department said Thursday new-home sales fell last month to a seasonally adjusted annual pace of 307,000. The pace is less than half the 700,000 that economists say must be sold in a healthy economy.

"About 302,000 homes were sold last year. That's less than the 323,000 sold in 2010, making 2011 the worst year on records dating back to 1963.

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6:45am

Thu January 26, 2012
The Two-Way

Unemployment Claims Up Slightly; Business Spending Increased

Over the past week, 21,000 more Americans claimed unemployment benefits, the Labor Department reports. Like most economic news, that's the bad news. The good news, reports the AP, is the that the four-week average is down 2,500, which "still signals a healthier job market."

The Commerce Department also has some good news on the economy: Orders for durable goods rose 3 percent, last month.

The AP reports that this marks a gain for the second straight month. The AP adds:

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10:01pm

Wed January 25, 2012
Business

To Grow Business, Starbucks Thinks Outside The Cup

Barista Nicole Adams serves up a drink in March at a Starbucks in downtown Seattle. The company is expanding its coffee options to include a light roast and plans to create a new health and wellness brand.
Ted S. Warren AP

Just four years ago, Starbucks seemed to be losing its mojo. Howard Schultz, the man who made Starbucks a household name, returned to the company as CEO. He closed hundreds of stores, streamlined operations and set the company on a path to record revenues and strong profits.

Starbucks serves 60 million beverages a week, which adds up to big profits. The company reports its earnings Thursday. In a bid to further expand its consumer base, Starbucks has a new roast and plans to produce more retail products to sell outside of its coffeehouses.

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