首页
登录
职称英语
The US economy should expand modestly in coming months as a healthy job mark
The US economy should expand modestly in coming months as a healthy job mark
游客
2023-12-22
31
管理
问题
The US economy should expand modestly in coming months as a healthy job market continues to trump weakness in housing prices, a gauge of future business activity showed on Thursday.
The Conference Board said its index of leading economic indicators rose a higher-than-expected 0.3 percent in May, boosted by rising stock prices, higher consumer expectations and the availability of jobs. Economists said that jobs should continue to be plentiful, despite an unexpected surge in jobless claims last week.
The Labor Department reported Thursday that unemployment claims totaled 324,000 last week, up 10,000 from the previous week, to the highest level since mid-April. While the big increase was unexpected, analysts said it did not change their view that the labor market remains hardy. Even with the increase, analysts noted claims remain close to their average—319,000—over the first 5.5 months of the year.
While the overall US economy grew at a lackluster 0.6 percent in the first three months of this year, many analysts believe the pace has picked up significantly in the spring.
The Conference Board’s upbeat report shows that the impact of the housing slump has been fairly contained so far, said Patrick Newport, an economist with Global Insight. "It just hasn’t spilled over to the rest of the economy," he said. It also indicates the economy is doing better than last month’s leading indicators report suggested, Newport said.
May’s increase reversed a revised 0.3 percent drop in April, down from the original 0.5 percent decline that economists blamed on soaring gas prices and a drop in building permits. The report, designed to forecast economic activity over the next three to six months, tracks 10 economic indicators.
The advancing contributors in May, starting with the largest, were weekly unemployment insurance claims, stock prices, building permits, consumer expectations and vendor performance. The negative contributors, beginning with the largest, were real money supply, average weekly manufacturing hours and interest rate spread. With the latest report, the cumulative change in the index over the past six months has gone up 0.3 percent.
Wall Street is fairly confident that falling home prices and rising mortgage defaults won’t damage the broader economy. Treasury Secretary Henry Paulson said Wednesday the housing slump is nearing an end and that the losses so far have been contained. But if mortgage rates keep rising, fewer people will want to buy homes and fewer homeowners will be able to refinance. If that happens, the residential real estate market’s troubles could snowball and dampen consumer spending.
The Federal Reserve’s Open Market Committee, which sets short-term interest rates, meets next week and is widely expected to leave rates unchanged as they have been for about a year. A pickup in the economy has raised worries about rising inflation, however.
Stocks slipped on Thursday, after the Philadelphia Federal Reserve’s report on manufacturing activity in its region jumped a stronger-than-expected 18 in June, up from 4.2 in May. In midday trading, the Dow Jones industrial average fell moderately, declining 36.66, or 0.27 percent, to 13,452.76 after dropping 146 points Wednesday on a surge in bond yields. Broader stock indicators moved sideways. The Standard & Poor’s 500 index fell 1.71, or 0.11 percent, to 1,511.13 and the Nasdaq composite index advanced 1.48, or 0.06 percent, to 2,601.44.
On Tuesday, the Commerce Department said construction of new homes fell in May as the nation’s homebuilders were battered by the crisis in sub-prime lending and rising mortgage rates. Industry sentiment about the housing market fell in June to the lowest point in more than 16 years.
Secondary effects from the housing downturn like layoffs and restrained consumer spending could also start surfacing, said Aaron Smith, an economist with Moody’s Economy.com. But the overall drag on the economy from the housing industry should decline in coming months, he said. "Building permits cannot continue declining at the pace they have," Smith said. [br] What is Patrick Newport’s view over the falling housing prices in recent months?
选项
答案
The impact of the housing slump has been controlled. It has not exerted negative effects on other sections of national economy. Economy is doing better than last month’s leading indicators report suggested.
解析
转载请注明原文地址:https://tihaiku.com/zcyy/3294183.html
相关试题推荐
Shecoversdeadbodiessothattheydonotseebychildrencominghomefromscho
Teachersofcross-culturalcoursesshouldhelpthestudentstobecome________to
Aboutsixmonthsafterthey’dreturned,whiletheywerewalkingslowlyinthest
Howmuchphysicalactivityshouldteenag
Howmuchphysicalactivityshouldteenag
Howmuchphysicalactivityshouldteenag
Howmuchphysicalactivityshouldteenag
Howmuchphysicalactivityshouldteenag
Howmuchphysicalactivityshouldteenag
Howmuchphysicalactivityshouldteenag
随机试题
Inthisprivateschool,adentist______thepupils’teethtwiceaweek.A、injures
______withhisassignment,theprofessortoldJacktowriteitagain.A、Notsati
GoingUndergroundBecauseofthe【1】______associations
对具有重要纪念意义、教育意义的英雄烈士纪念设施依照《中华人民共和国文物保护法》的
本周蛋白即()。A.球蛋白 B.T-H蛋白 C.黏蛋白 D.免疫球蛋白轻
A.雌激素、孕激素序贯疗法 B.雌激素、孕激素合并疗法 C.绒毛膜促性腺激素
B尾数法。结果的后两位尾数为0.01+0.09+0.16+0.64=0.9,选项中符合的为B。
肉芽组织中可分泌生长因子的细胞是( )。A.中性粒细胞 B.巨噬细胞 C.
为了调节国际收支顺差,一国可以采取的政策有()。A.在外汇市场上抛售外汇 B.
下图所示的单代号网络计划,其计算工期为()天。 A.11 B.9 C
最新回复
(
0
)