Economic Activity
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In 2013, a graduate student discovered a flaw in a spreadsheet, renewing the debate about austerity and debt. Emerging economies tanked, and Bitcoin boomed. In the U.S., unemployment fell and the Federal Reserve started to scale back its bond-buying program. Research focused on inequality and jobs gap between the highly skilled and everyone else. The Affordable Care Act began. more
Fewer Americans than projected filed applications for unemployment benefits last week, an indication companies are holding on to staff even as cold weather threatens to slow the world’s largest economy. 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
Hotel tax collections rose to $138,139 in January, an increase of 4.1 percent compared with the $132,707 collected during January 2013, the R.I. Department of Revenue reported Tuesday. more
Gasoline prices remain unchanged this week in Rhode Island, while prices increased 1 cent in Massachusetts, according to the weekly survey by AAA Southern New England. 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 9 percent unemployment rate again ranked as the highest in the country in February, and Rhode Island was the only state to post a jobless rate at or above 9 percent, the U.S. Bureau of Labor Statistics reported Friday. 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
U.S. stocks rose, after the Standard & Poor’s 500 Index fell to a three-week low, as better- than-forecast data on industrial production boosted optimism on the economy and investors watched developments in Ukraine. more
Retail sales in the U.S. rose in February for the first time in three months, a sign consumers are starting to shake off the effects of the harsh weather that curbed spending even more than previously estimated. more
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