Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
Second-quarter Growth At 2.5%
WASHINGTON (9/27/13)--The U.S. economy in the second quarter grew at a quicker pace than in first quarter, with business and government spending strengthening. That indicates the economy was persevering through higher taxes and federal budget cuts (Bloomberg.com and The Wall Street Journal Sept. 26).
 
U.S. gross domestic product--the widest gauge of all goods and services the economy produces--increased at a 2.5% seasonally adjusted annual rate in the quarter. Economists had forecast a 2.8% second-quarter pace, the Journal said. 
 
Larger increases in worker pay and hiring are necessary to bolster consumer spending--the biggest component of the U.S. economy--because escalating mortgage rates now are holding back the housing recovery, Bloomberg said. 
 
Although the economy has been improving slowly and steadily, its momentum has not sufficiently accelerated, Gennadiy Goldberg, a strategist at TD Securities USA LLC in New York, told Bloomberg.
 
The Federal Reserve would like to see the economy show more robust growth before it winds down its quantitative easing monetary policy, according to the Fed, said the Journal.
Other Resources

CUNA National Economic Data
RSS print
News Now LiveWire
The Hill reports House Republicans plan to delay Aug. recess to stay in D.C. until they have enough votes to pass bill on border crisis.
7 hours ago
The FHLBs of Des Moines and Seattle announce they have entered into an exclusivity arrangement regarding potential merger of the 2 entities.
8 hours ago
SunCorp and @AlloyaCorp have announced their intent to merge.
10 hours ago
.@TheNCUA bars former employee of Southwest Communities FCU,Melissa Rosing,from work at any federally insured FI. http://t.co/owtVnPxVZT
10 hours ago
Fryzel added @TheNCUA is fed. governmt, thereby will B criticized, but always tried 2 do what is right. McWatters still 2 B sworn in.2of2
12 hours ago