FOXmls.com: Economics

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Homeowner Spending to Boost Economy in 2013

Published: December 15, 2012

After a downturn in spending on home renovations, homeowners across North America have once again been bitten by the renovation bug. And this bodes well for the economy as a whole in 2013.

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Fannie, Freddie proving too big to shrink

WASHINGTON – Jan. 6, 2010 – The government’s Christmas Eve pledge of unlimited financial aid to mortgage giants Fannie Mae and Freddie Mac is aimed at making sure the housing market doesn’t take another turn for the worse and cause the economic recovery to unravel.

Bernanke: Too early to declare lasting recovery

WASHINGTON (AP) – Dec. 9, 2009 – Federal Reserve Chairman Ben Bernanke warned Monday that it’s too soon to know whether the economic recovery will last and again pledged to hold rates at record-low levels for an “extended period.”

Good sign: Business spending up

WASHINGTON – Nov. 6, 2009 – A turnaround in business spending is offering the first hint that the private sector may be prepared to drive economic growth when the government winds down its efforts to spur consumption.

Outlook for jobs turns positive

WASHINGTON – Oct. 26, 2009 – An economic survey out today provides fresh evidence that a fitful recovery is underway as customer demand grows in the third quarter for the first time in more than a year and the jobs outlook brightens a bit.

September housing construction rises 0.5 percent

WASHINGTON (AP) – Oct. 20, 2009 – Construction of new homes edged up slightly in September, helped by a rebound in single-family construction. However, in a worrisome sign for future housing work, applications for building permits fell by the largest amount in five months.

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