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Tag Archives: economy track

Forecast for second-half growth throttled back after hurricanes

Last month’s hopes for a strengthening economy have been struck a serious blow by a nasty gang, namely storms Harvey, Irma, Jose and Maria. The short-term effect for the economy has been dismal. However, like New Orleans and Katrina, the longer term ...

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Shrinking industrial output limits Rochester’s growth

New data from the U.S. Bureau of Economic Analysis provide another reminder of the difficult recovery that local residents and businesses have faced since the Great Recession. Adjusted for inflation, the total value of goods and services produced in the ...

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Home sales in U.S. decline in August—blame Harvey

U.S. home sales fell 1.7 percent in August, pulled down by the effects of Hurricane Harvey and a worsening shortage of available properties. The National Association of Realtors said Wednesday that sales of existing homes sank last month to a ...

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U.S. services sector expanded at stronger rate in August

U.S. services businesses grew at a faster pace in August as measures for new orders and hiring improved, though some of those gains could disappear temporarily in the wake of damage from Harvey. The Institute for Supply Management said Wednesday ...

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Analysts puzzle over poky growth of economy since 2009

Remember the “good old days” of dial-up internet connection? It seems like we waited forever for the connection, and then waited longer for pages to load. That reminds me of the current state of the economy, which remains solidly in ...

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Knowledge-based industries’ hiring outpaces all others

The July jobs report was another sobering reminder of the challenges facing the Rochester economy. Relative to year-ago levels, private sector employment declined by 1,400 or 0.3 percent—reversing the 1,300 gain recorded in June.  On a year-over-year basis, the region’s ...

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U.S. retail sales jumped 0.6 percent in July

Consumers went out shopping in a big way in July, pushing up retail sales by the largest amount in seven months. Retail sales advanced 0.6 percent last month, the best showing since a gain of 0.9 percent last December, the ...

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