Economic Activity
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Despite severe winter weather during the first months of 2014 that put pressure on New England business owners in several industries, the overall economic outlook remains cautiously optimistic, according to the Federal Reserve Board’s Beige Book released Wednesday. more
Employers added more workers than projected in February, indicating the U.S. economy is starting to bounce back from a weather-induced setback. The jobless rate unexpectedly climbed from a five-year low. more
About 90 percent of Rhode Island business leaders think the U.S. economy will improve in the next 12 months, based on a survey taken by about 350 attendees at the Santander Bank and Greater Providence Chamber of Commerce Economic Outlook Breakfast at the Omni Hotel on Thursday. more
Paolino Properties has acquired the former Cherry & Webb department store building at 275 Westminster St. downtown, the Providence real estate firm announced Thursday. more
U.S. stocks fell, erasing early gains after the Standard & Poor’s 500 Index came within four points of a record as data showed an increase in retail sales and a drop in jobless claims. more
Rhode Island’s seasonally adjusted unemployment rate fell to 9 percent in February, according to the latest monthly report from the R.I. Department of Labor and Training. Nationally, the U.S. unemployment rate rose one-tenth of a percentage point to 6.7 percent. more
Purchases of previously owned homes in the U.S. declined in February to the lowest level since July 2012, a sign the industry may be slow to recover. more
The R.I. Office of Regulatory Reform has released a report outlining key findings and recommendations from period three of the Regulatory Reform Initiative to analyze all state-agency regulations and their impact on Rhode Island’s small businesses. more
Movoto Real Estate has named Rhode Island’s capital city the most “exciting” mid-sized city in the country, awarding high scores for Providence’s young population and vibrant nightlife. more
Federal Reserve officials predicted their target interest rate would be 1 percent at the end of 2015 and 2.25 percent a year later, higher than previously forecast, as they upgraded projections for gains in the labor market. more
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