EconomicCrisis.US

A series of key economic indicators Thursday hinted at a U.S. economy that’s still struggling to get back on its feet.

American sales of previously occupied homes fell in June and are expected to keep sinking, the National Association of Realtors said.

June sales fell 5.1 per cent to a seasonally adjusted annual rate of 5.37 million, the group said, a possible sign the U.S. housing market’s troubles are a drag on the economic recovery.

The median sale price was $183,700, up one per cent from a year earlier.
Jobless claims rise
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World stock markets slid Thursday and the dollar fell, undermined by worries about the global recovery after Federal Reserve Chairman Ben Bernanke warned the U.S. economy faces uncertain prospects.

Bernanke told a congressional committee that the economic outlook is “unusually uncertain” and the economy is fragile. He did not forecast that it would fall back into recession. The dollar dropped against the yen and the euro, reflecting pessimism about America’s economy, the world’s largest.
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Financial markets juggled with competing drivers on Tuesday as investors generally boosted stocks in the hope of more good earnings reports and the dollar slipped on concerns about the U.S. economy.

Key earnings from Goldman Sachs and Apple lay ahead but there was growing concern about the U.S. economy after the NAHB/Wells Fargo Housing Market index fell more than expected in July after a popular tax credit for homebuyers expired in April.

That underlined fears about the recovery ahead of housing data including housing starts on Tuesday, pushing the euro to a two-month high against the dollar.
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The outlook for the job market has improved, according to a survey of leading economists released Monday, even as the economic recovery hit a speed bump in the second quarter.

In its second-quarter industry survey, the National Association for Business Economics said employers grew payrolls for a second consecutive quarter this year. The percentage of firms increasing staff levels grew to 31% in the quarter, versus only 6% in the same period a year ago.

At the same time, the percentage of employers cutting jobs continued to move lower.
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