clear
Saturday August 29th, 2015 10:40AM

US home price gains slow in June; durable good orders up sharply in July

By The Associated Press
WASHINGTON (AP) -- U.S. home prices increased at a slower pace in June but durable good orders were up sharply in July.<br /> <br /> The Standard & Poor's/Case-Shiller 20-city home price index rose 8.1 percent in June from 12 months earlier. That's down from 9.4 percent a month earlier and the smallest annual gain since December 2012.<br /> <br /> Yearly price growth weakened in all 20 cities. Home values in Cleveland nudged up just 0.8 percent. Las Vegas led with a 15.2 percent gain. But prices in Las Vegas, Phoenix, Miami and Tampa, Florida, are still at least 33 percent below their housing bubble peaks from almost a decade ago.<br /> <br /> The deceleration should ease price pressures on would-be buyers. After slumping at the start of 2014, existing-home sales have picked up as price gains have slowed. But buying remains 4.3 percent below the July 2013 level.<br /> <br /> DURABLE GOOD ORDERS JUMP<br /> <br /> Business orders for long-lasting manufactured goods shot up by the largest amount on record in July. But most of the strength came from demand for commercial aircraft, which tends to fluctuate sharply from month to month. Outside of transportation, orders dipped.<br /> <br /> Despite the broader weakness in July, most analysts say factory output will likely support solid economic growth in the second half of this year.<br /> <br /> Orders for durable goods rose 22.6 percent on a seasonally adjusted basis, the Commerce Department said Tuesday. The strength came from a 318 percent increase in orders for civilian aircraft, which helped lift orders for transportation equipment by a record 74.2 percent.<br /> <br /> Excluding transportation, orders fell 0.8 percent. And a key category that serves as a proxy for business investment plans dropped 0.5 percent. Still, that followed a sizable 5.4 percent rise in the previous month.<br /> <br /> After going into reverse during the first three months of the year, in large part because of the severe winter, the U.S. economy rebounded in the April-June quarter, growing at a solid annual rate of 4 percent as measured by the gross domestic product, the economy's total output of goods and services.<br /> <br /> The jump in commercial aircraft orders reflected a good month for Boeing, which reported 324 orders for new aircraft in July, up from 109 orders in June. And this week, the company said it received an $8.8 billion order from an aircraft leasing company based in Singapore.<br /> <br /> Automakers also had a good month in July, with orders for motor vehicles and parts rise by 10.2 percent after a 1.3 percent drop in June.
© Copyright 2015 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Judge denies motions to move, delay Tsarnaev trial
Lawyers for Boston Marathon bombing suspect Dzhokhar Tsarnaev asked a federal appeals court Wednesday to overturn a judge's decision to not move his upcoming trial out of state.
10:02PM ( 7 months ago )
High court to adopt electronic filing of cases
The Supreme Court is belatedly developing an electronic filing system similar to those used in courts around the country, Chief Justice John Roberts said Wednesday in his annual end-of-year report.
7:57PM ( 7 months ago )
Storm brings snow, cold to West for New Year's
A blustery winter storm dumped snow and ice across the West on Wednesday, making driving treacherous in the mountains from California to the Rockies and forcing residents and party-goers in some usually sun-soaked cities to bundle up for a frosty New Year's.
5:19PM ( 7 months ago )
U.S. News
State DOT awards $48M contract for NE Ga. road project
The state Department of Transportation has awarded a $47.8 million contract for nine miles of work on a northeast Georgia road.
9:37AM ( 7 months ago )
Business News
Grass fire impacts rush hour traffic on 985
Rush hour traffic on I-985 was slowed by a grass fire Wednesay afternoon with one lane closed while firefighters fought the blaze.
10:19PM ( 7 months ago )
Hall County conviction, sentencing to be reviewed by SCOGA
The State Supreme Court has agreed to hear the appeal of a Hall County man when they reconvene in January.
2:37PM ( 7 months ago )
Maysville man dies from Banks County wreck
The Georgia State Patrol reports that alcohol and/or drugs were factors a single-vehicle wreck that claimed the life of a Maysville man in Banks County Tuesday night.
11:07AM ( 7 months ago )
Local/State News
Experts: GOP candidates' tough talk doesn't always square with facts of US-China relationship
CHARLESTON, S.C. (AP) — If there was ever a week for the Republican presidential candidates to talk tough on China, this was it: Spurred by the stock market's wild ride, they lashed out at the world's most populous nation.
9:34PM ( 13 hours ago )
US consumer spending up moderate 0.3 percent in July, while incomes rise 0.4 percent
WASHINGTON (AP) — US consumer spending up moderate 0.3 percent in July, while incomes rise 0.4 percent.
8:30AM ( 1 day ago )
Democratic financial woes threaten party-building before presidential election year
MINNEAPOLIS (AP) — The Democratic National Committee barely has more cash than it does IOUs, and it is being outraised month after month by its Republican competitor.Its $24 million debt from the 2012...
6:11PM ( 1 day ago )
Health official: States should post local vaccination info
How many kids are vaccinated at your child's school? Federal health officials think you should be able to easily find out.
By The Associated Press
4:55PM ( 1 day ago )
US stocks end sharply higher; Dow up 369
U.S. stocks are closing sharply higher after China's main stock index logged its biggest gain in eight weeks. A report also showed that the U.S. economy expanded at a much faster pace than previously estimated.
By The Associated Press
4:33PM ( 1 day ago )