Economic Activity
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Dan Cunningham is a regional investment executive for U.S. Trust, based in Boston. PBN caught up with him at a client event for the bank in Little Compton, where he talked about U.S. Trust’s take on the goings-on in Washington, D.C., the macroeconomic trends and the implementation of the Affordable Care Act. more
A U.S. government shutdown will immediately slow approval of thousands of mortgages. If it lasts more than a week, it threatens housing and the broader economic recovery. more
Home prices in the Providence-New Bedford-Fall River metro area rose 4.3 percent in August compared with the same period last year, according to the CoreLogic Home Price Index report released Tuesday. more
Global stocks rebounded after the biggest decline in a month and Treasuries fell on speculation any economic effect from the U.S. government shutdown will be limited and already reflected in markets. The dollar weakened. more
A partial shutdown of the federal government would cost the U.S. at least $300 million a day in lost economic output at the start, according to IHS Inc. more
A gauge of U.S. company credit risk rose for the fourth day as the U.S. government stands poised for its first partial shutdown in 17 years. The cost to protect the debt of Caesars Entertainment Corp. climbed. more
Personal incomes in Rhode Island rose 0.8 percent in the second quarter of 2013, after dropping 0.8 percent in the first quarter, according to a report released Monday by the U.S. Bureau of Economic Analysis. more
Gasoline prices dropped in Rhode Island and Massachusetts for the third consecutive week, according to the weekly survey by AAA Southern New England. more
U.S. stock-index futures slid, signaling equities may fall for a second day, as politicians neared a deadline to approve a budget, without which the government may partially shut down. more
U.S. stocks fell, with the Standard & Poor’s 500 Index headed for its first weekly drop since August, amid concern the budget impasse will hurt economic growth in the world’s largest economy. more
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