Economy - The Salt Lake Tribune http://www.sltrib.com/cat/Economy Stories from The Salt Lake Tribune &copy; 2014 The Associated Press, The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our privacy policy: http://www.sltrib.com/pages/privacy. en-us webmaster@sltrib.com (Webmaster) U.S. durable goods orders up 2.6 percent in March http://www.sltrib.com/sltrib/money/57860088-79/percent-march-orders-goods.html.csp Washington • Orders to U.S. factories for long-lasting manufactured goods posted a solid gain for the second straight month in March. A key category that signals business investment plans increased at the fastest pace in four months. Orders for durable goods increased 2.6 percent in March following a 2.1 percent rise in February, the Commerce Department reported Thursday. Those back-to-back gains followed two big declines in December and January which had raised concerns about possible weakness ... Washington • Orders to U.S. factories for long-lasting manufactured goods posted a solid gain for the second straight month in March. A key category that signals business investment plans increased at the fastest pace in four months. Orders for durable goods increased 2.6 percent in March following a 2.1 percent rise in February, the Commerce Department reported Thursday. Those back-to-back gains followed two big declines in December and January which had raised concerns about possible weakness ... <img src="http://mngislctrib.112.2O7.net/b/ss/mngislctrib/1/H.17--NS/0?&pageName=RSS" height="1" width="1" border="0" alt=""/> 57860088@www.sltrib.com Thu, 24 Apr 2014 08:32:01 MDT Thawing out: Warmer temperatures lift U.S. economy http://www.sltrib.com/sltrib/money/57846010-79/percent-economy-growth-months.html.csp Washington • Spring’s thaw is reviving the economy, too. A recent batch of government and business reports show a U.S. economy emerging from winter’s deep freeze. Economists had expected the growth to accelerate in 2014 after two years of slow and steady improvement. But an unusually bitter winter sent factories, hiring and consumer spending into hibernation. Now, as temperatures rise, the economy is regaining momentum. Factories are busier. Consumers are spending more. Banks are making more loa... Washington • Spring’s thaw is reviving the economy, too. A recent batch of government and business reports show a U.S. economy emerging from winter’s deep freeze. Economists had expected the growth to accelerate in 2014 after two years of slow and steady improvement. But an unusually bitter winter sent factories, hiring and consumer spending into hibernation. Now, as temperatures rise, the economy is regaining momentum. Factories are busier. Consumers are spending more. Banks are making more loa... 57846010@www.sltrib.com Mon, 21 Apr 2014 19:04:21 MDT Gauge of U.S. economy up for 3rd straight month http://www.sltrib.com/sltrib/money/57844603-79/growth-percent-economy-month.html.csp Washington • A measure of the U.S. economy’s health rose in March for the third consecutive month, a sign of stronger growth after harsh winter weather caused the economy’s pace to slow. The Conference Board said Monday that its index of leading indicators increased 0.8 percent in March after a 0.5 percent rise in February and modest 0.2 percent gain in January. It was the best showing since a 0.9 percent gain in November. Both hiring and consumer outlooks have improved, which along with interes... Washington • A measure of the U.S. economy’s health rose in March for the third consecutive month, a sign of stronger growth after harsh winter weather caused the economy’s pace to slow. The Conference Board said Monday that its index of leading indicators increased 0.8 percent in March after a 0.5 percent rise in February and modest 0.2 percent gain in January. It was the best showing since a 0.9 percent gain in November. Both hiring and consumer outlooks have improved, which along with interes... 57844603@www.sltrib.com Mon, 21 Apr 2014 08:46:34 MDT Herbert: Trade mission bolstered ties to Mexico http://www.sltrib.com/sltrib/money/57828715-79/mexico-utah-trade-mission.html.csp Gov. Gary Herbert proclaimed his recent trade mission to Mexico a success after three Utah-based companies used the tour to release plans to expand operations there. Space Monkey, doTerra International and Converus all announced new ventures during the governor’s April 7-10 trade mission, which included 39 Utah business leaders and six government officials. “Utah and Mexico have a rich history of economic trade,” Herbert said, noting that Utah exports to Mexico last year approached $550 million.... Gov. Gary Herbert proclaimed his recent trade mission to Mexico a success after three Utah-based companies used the tour to release plans to expand operations there. Space Monkey, doTerra International and Converus all announced new ventures during the governor’s April 7-10 trade mission, which included 39 Utah business leaders and six government officials. “Utah and Mexico have a rich history of economic trade,” Herbert said, noting that Utah exports to Mexico last year approached $550 million.... 57828715@www.sltrib.com Thu, 17 Apr 2014 17:04:02 MDT U.S. factory output extended solid gains in March http://www.sltrib.com/sltrib/money/57826479-79/february-percent-factory-march.html.csp Washington • U.S. factory output rose further last month, extending strong growth from February after harsh weather had caused production to tumble in January. Manufacturers produced more furniture, clothing, chemicals and aerospace products. The Federal Reserve said Wednesday that factory production rose 0.5 percent in March after a revised 1.4 percent surge in February. Manufacturing output has climbed a solid 2.8 percent over the past 12 months. Higher factory output is a sign of greater dema... Washington • U.S. factory output rose further last month, extending strong growth from February after harsh weather had caused production to tumble in January. Manufacturers produced more furniture, clothing, chemicals and aerospace products. The Federal Reserve said Wednesday that factory production rose 0.5 percent in March after a revised 1.4 percent surge in February. Manufacturing output has climbed a solid 2.8 percent over the past 12 months. Higher factory output is a sign of greater dema... 57826479@www.sltrib.com Wed, 16 Apr 2014 07:55:02 MDT Bad weather boosts Utah prices http://www.sltrib.com/sltrib/money/57821868-79/prices-percent-march-price.html.csp Have you been missing that lime in your soda or on you favorite dish of pad thai? The reason for the green citrus fruit’s absence is one of economics: the price per case of limes shot up from $14 to a whopping $100 after weather heavily damaged southern Mexico’s lime crop. It was one of several factors that drove up the Zions Bank Wasatch Front Consumer Price Index by 0.7 percent from February to March. Over the past 12 months, prices have increased 1.4 percent in Utah. Groceries overall jumped... Have you been missing that lime in your soda or on you favorite dish of pad thai? The reason for the green citrus fruit’s absence is one of economics: the price per case of limes shot up from $14 to a whopping $100 after weather heavily damaged southern Mexico’s lime crop. It was one of several factors that drove up the Zions Bank Wasatch Front Consumer Price Index by 0.7 percent from February to March. Over the past 12 months, prices have increased 1.4 percent in Utah. Groceries overall jumped... 57821868@www.sltrib.com Wed, 16 Apr 2014 07:26:43 MDT U.S. homebuilder confidence edges up in April http://www.sltrib.com/sltrib/money/57821871-79/confidence-april-builders-homebuilders.html.csp Washington • U.S. homebuilders’ confidence in the housing market rose modestly in April but remained at low levels for the third straight month, constrained by tight credit for home buyers and a shortage of workers and available land. The National Association of Home Builders/Wells Fargo builder sentiment index, which measures confidence in the single-family home market, edged up to 47 in April from 46 in March, the homebuilders group reported Tuesday. Readings below 50 mean builders view sales ... Washington • U.S. homebuilders’ confidence in the housing market rose modestly in April but remained at low levels for the third straight month, constrained by tight credit for home buyers and a shortage of workers and available land. The National Association of Home Builders/Wells Fargo builder sentiment index, which measures confidence in the single-family home market, edged up to 47 in April from 46 in March, the homebuilders group reported Tuesday. Readings below 50 mean builders view sales ... 57821871@www.sltrib.com Tue, 15 Apr 2014 09:02:01 MDT U.S. producer prices rise 0.5 percent in March http://www.sltrib.com/sltrib/money/57806536-79/percent-prices-inflation-march.html.csp Washington • The prices companies receive for their goods and services jumped in March led by gains for food, clothing, jewelry and chemicals. The producer price index, which measures price changes before they reach the consumer, rose 0.5 percent in March, the Labor Department said Friday. Overall inflation remains relatively tame. Producer prices increased 1.4 percent during the past 12 months. Wholesale food prices rose last month, led by a 30.4 percent leap in the costs of hogs and 12.4 perce... Washington • The prices companies receive for their goods and services jumped in March led by gains for food, clothing, jewelry and chemicals. The producer price index, which measures price changes before they reach the consumer, rose 0.5 percent in March, the Labor Department said Friday. Overall inflation remains relatively tame. Producer prices increased 1.4 percent during the past 12 months. Wholesale food prices rose last month, led by a 30.4 percent leap in the costs of hogs and 12.4 perce... 57806536@www.sltrib.com Fri, 11 Apr 2014 08:36:01 MDT IMF: World economy is stronger but faces threats http://www.sltrib.com/sltrib/money/57790259-79/imf-percent-economy-inflation.html.csp Washington • The global economy is strengthening but faces threats from super-low inflation and outflows of capital from emerging economies, the International Monetary Fund warned Tuesday. The lending organization expects the global economy to grow 3.6 percent this year and 3.9 percent in 2015, up from 3 percent last year. Those figures are just one-tenth of a percentage point below the IMF’s previous forecasts in January. The IMF, in its World Economic Outlook report, makes no changes to its fo... Washington • The global economy is strengthening but faces threats from super-low inflation and outflows of capital from emerging economies, the International Monetary Fund warned Tuesday. The lending organization expects the global economy to grow 3.6 percent this year and 3.9 percent in 2015, up from 3 percent last year. Those figures are just one-tenth of a percentage point below the IMF’s previous forecasts in January. The IMF, in its World Economic Outlook report, makes no changes to its fo... 57790259@www.sltrib.com Tue, 08 Apr 2014 08:33:02 MDT Rio Tinto pulls out of controversial Alaska mine http://www.sltrib.com/sltrib/money/57786676-79/mine-rio-tinto-pebble.html.csp Kennecott’s parent company, Rio Tinto, is pulling out of a proposed copper mine in southwest Alaska that sparked strong opposition because of the environmental harm it could cause in salmon-rich Bristol Bay. The London-based multinational company announced Monday it will donate its majority interest in the Pebble Project — a 19.1 percent shareholding — to two charitable organizations in Alaska. Rio Tinto’s withdrawal is another major blow to what would have been a massive open-pit copper, gold ... Kennecott’s parent company, Rio Tinto, is pulling out of a proposed copper mine in southwest Alaska that sparked strong opposition because of the environmental harm it could cause in salmon-rich Bristol Bay. The London-based multinational company announced Monday it will donate its majority interest in the Pebble Project — a 19.1 percent shareholding — to two charitable organizations in Alaska. Rio Tinto’s withdrawal is another major blow to what would have been a massive open-pit copper, gold ... 57786676@www.sltrib.com Mon, 07 Apr 2014 15:08:01 MDT Steady, not spectacular: U.S. jobs up 192,000 in March http://www.sltrib.com/sltrib/money/57773891-79/percent-jobs-march-added.html.csp Washington • U.S. employers added jobs at a solid pace in March and hired more in January and February than previously thought. Friday’s government report sent a reassuring signal that the economy withstood a harsh winter that had slowed growth. The economy gained 192,000 jobs in March, the Labor Department said Friday, slightly below February’s revised total of 197,000. Employers added a combined 37,000 more jobs in January and February than previously estimated. The unemployment rate was uncha... Washington • U.S. employers added jobs at a solid pace in March and hired more in January and February than previously thought. Friday’s government report sent a reassuring signal that the economy withstood a harsh winter that had slowed growth. The economy gained 192,000 jobs in March, the Labor Department said Friday, slightly below February’s revised total of 197,000. Employers added a combined 37,000 more jobs in January and February than previously estimated. The unemployment rate was uncha... 57773891@www.sltrib.com Fri, 04 Apr 2014 07:33:02 MDT Survey finds widespread work discrimination for older Utahns http://www.sltrib.com/sltrib/money/57770535-79/older-discrimination-font-utah.html.csp Nearly a third of Utah residents aged 50 and older say they or someone they know has experienced workplace age discrimination in the past four years, according to a new survey. The AARP, formerly the American Association of Retired Persons, asked 500 Utah residents about age discrimination and their experiences as part of a national effort to urge passage of the bipartisan Protecting Older Workers Against Discrimination Act. That federal legislation attempts to reverse a 2009 Supreme Court d... Nearly a third of Utah residents aged 50 and older say they or someone they know has experienced workplace age discrimination in the past four years, according to a new survey. The AARP, formerly the American Association of Retired Persons, asked 500 Utah residents about age discrimination and their experiences as part of a national effort to urge passage of the bipartisan Protecting Older Workers Against Discrimination Act. That federal legislation attempts to reverse a 2009 Supreme Court d... 57770535@www.sltrib.com Thu, 03 Apr 2014 14:17:53 MDT U.S. service firms grow more quickly, boost hiring http://www.sltrib.com/sltrib/money/57769573-79/rose-hiring-percent-service.html.csp Washington • U.S. service firms expanded more quickly last month as new orders rose and hiring increased, a positive sign the economy is rebounding after an unusually cold winter. The Institute for Supply Management said Thursday that its service-sector index rose to 53.1 in March from 51.6 in February. Any reading above 50 indicates expansion. The increase was driven by a big jump in a measure of hiring, which rose 6.1 points to 53.4. That reversed most of a nine-point plunge in February that w... Washington • U.S. service firms expanded more quickly last month as new orders rose and hiring increased, a positive sign the economy is rebounding after an unusually cold winter. The Institute for Supply Management said Thursday that its service-sector index rose to 53.1 in March from 51.6 in February. Any reading above 50 indicates expansion. The increase was driven by a big jump in a measure of hiring, which rose 6.1 points to 53.4. That reversed most of a nine-point plunge in February that w... 57769573@www.sltrib.com Thu, 03 Apr 2014 09:56:02 MDT U.S. trade deficit hits $42.3 billion in February http://www.sltrib.com/sltrib/money/57769073-79/trade-billion-deficit-imports.html.csp Washington • The U.S. trade deficit climbed to the highest level in five months in February as demand for American exports fell while imports increased slightly. The deficit increased to $42.3 billion, which was 7.7 percent above the January imbalance of $39.3 billion, the Commerce Department reported Thursday. U.S. exports slipped 1.1 percent to $190.4 billion as sales of commercial aircraft, computers and farm goods fell. Imports edged up 0.4 percent to $232.7 billion, reflecting gains in impo... Washington • The U.S. trade deficit climbed to the highest level in five months in February as demand for American exports fell while imports increased slightly. The deficit increased to $42.3 billion, which was 7.7 percent above the January imbalance of $39.3 billion, the Commerce Department reported Thursday. U.S. exports slipped 1.1 percent to $190.4 billion as sales of commercial aircraft, computers and farm goods fell. Imports edged up 0.4 percent to $232.7 billion, reflecting gains in impo... 57769073@www.sltrib.com Thu, 03 Apr 2014 07:54:01 MDT More Americans see middle-class status slipping http://www.sltrib.com/sltrib/money/57766063-79/middle-class-percent-americans.html.csp Washington • A sense of belonging to the middle class occupies a cherished place in America. It conjures images of self-sufficient people with stable jobs and pleasant homes working toward prosperity. Yet nearly five years after the Great Recession ended, more people are coming to the painful realization that they’re no longer part of it. They are former professionals now stocking shelves at grocery stores, retirees struggling with rising costs and people working part-time jobs but desperate for... Washington • A sense of belonging to the middle class occupies a cherished place in America. It conjures images of self-sufficient people with stable jobs and pleasant homes working toward prosperity. Yet nearly five years after the Great Recession ended, more people are coming to the painful realization that they’re no longer part of it. They are former professionals now stocking shelves at grocery stores, retirees struggling with rising costs and people working part-time jobs but desperate for... 57766063@www.sltrib.com Thu, 03 Apr 2014 07:27:01 MDT Economist forecasts growth, if slowed, for Utah http://www.sltrib.com/sltrib/money/57760524-79/utah-mitchell-state-force.html.csp From where a seasoned economist sees it, Utah could have a good year in store. John Mitchell, former chief economist at U.S. Bank and Boise State University economics professor, outlined his mixed but mostly upbeat outlook at a regional outlook conference hosted by Bank of Utah Wednesday morning. Utah has low unemployment, an attractive housing market and harder-to-quantify geographic qualities that promote venture capital. But while 2014 looks to be a year of growth for the Beehive State — an ... From where a seasoned economist sees it, Utah could have a good year in store. John Mitchell, former chief economist at U.S. Bank and Boise State University economics professor, outlined his mixed but mostly upbeat outlook at a regional outlook conference hosted by Bank of Utah Wednesday morning. Utah has low unemployment, an attractive housing market and harder-to-quantify geographic qualities that promote venture capital. But while 2014 looks to be a year of growth for the Beehive State — an ... 57760524@www.sltrib.com Wed, 02 Apr 2014 12:23:02 MDT U.S. factory orders rebound 1.6 percent in February http://www.sltrib.com/sltrib/money/57763921-79/percent-february-orders-months.html.csp Washington • Orders to U.S. factories rose in February after two months of declines but a critical category that signals business investment plans fell. Factory orders rose 1.6 percent in February, the most in five months, following declines of 1 percent in January and 2 percent in December, the Commerce Department reported Wednesday. The February gain reflected a rebound in orders for commercial aircraft and autos. Orders in both categories had fallen for two consecutive months before reboundin... Washington • Orders to U.S. factories rose in February after two months of declines but a critical category that signals business investment plans fell. Factory orders rose 1.6 percent in February, the most in five months, following declines of 1 percent in January and 2 percent in December, the Commerce Department reported Wednesday. The February gain reflected a rebound in orders for commercial aircraft and autos. Orders in both categories had fallen for two consecutive months before reboundin... 57763921@www.sltrib.com Wed, 02 Apr 2014 09:29:01 MDT U.S. manufacturing expanded more quickly in March http://www.sltrib.com/sltrib/money/57758507-79/manufacturing-february-months-march.html.csp Washington • U.S. manufacturing grew at a slightly faster pace in March compared with February as factory output recovered from disruptions caused by severe winter weather. Manufacturers also received more orders, suggesting that production could strengthen a bit in the months ahead. The Institute for Supply Management, a group of purchasing managers, said Tuesday that its manufacturing index increased to 53.7 from 53.2 in February. Any reading above 50 indicates expansion. The increase suggests... Washington • U.S. manufacturing grew at a slightly faster pace in March compared with February as factory output recovered from disruptions caused by severe winter weather. Manufacturers also received more orders, suggesting that production could strengthen a bit in the months ahead. The Institute for Supply Management, a group of purchasing managers, said Tuesday that its manufacturing index increased to 53.7 from 53.2 in February. Any reading above 50 indicates expansion. The increase suggests... 57758507@www.sltrib.com Tue, 01 Apr 2014 13:23:37 MDT U.S. construction spending up tiny 0.1 percent http://www.sltrib.com/sltrib/money/57758494-79/percent-construction-spending-housing.html.csp Washington • U.S. construction spending posted a slight increase in February as a rebound in construction of hotels and other nonresidential buildings offset a decline in housing. But housing construction fell as activity was still being depressed by the harsh winter. Construction spending increased a scant 0.1 percent in February after a 0.2 percent drop in January, the Commerce Department reported Tuesday. The increase left construction at a seasonally adjusted annual rate of $945.7 billion, 8... Washington • U.S. construction spending posted a slight increase in February as a rebound in construction of hotels and other nonresidential buildings offset a decline in housing. But housing construction fell as activity was still being depressed by the harsh winter. Construction spending increased a scant 0.1 percent in February after a 0.2 percent drop in January, the Commerce Department reported Tuesday. The increase left construction at a seasonally adjusted annual rate of $945.7 billion, 8... 57758494@www.sltrib.com Tue, 01 Apr 2014 09:09:02 MDT