Economic Activity
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Wage gains in 2012 caused a rise in the number of Rhode Island communities able to afford home ownership, according to figures in the annual HousingWorks RI Housing Fact Book released Friday. more
The average weekly wage in Providence County rose to $999 in the first quarter of 2013, a 2.7 percent increase over the same period last year, the U.S. Bureau of Labor Statistics reported Thursday. more
U.S. stock-index futures rose, signaling the Standard & Poor’s 500 Index will rebound from its longest losing streak this year, as investors awaited data on jobs and home sales to assess the pace of the economic recovery. more
Companies added fewer workers than projected in September, indicating the U.S. job market is struggling to gain momentum, a private report based on payrolls showed today. more
The U.S. imported the most box loads of Asian goods from shoes to tires in six years last quarter, a signal that the world’s largest economy is gathering strength heading into the holiday season. 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
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
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
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
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
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