Archive For November 30, 2016

Seattle tops the nation in home-price growth for first time in 9 years

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After trailing Portland all year, the Seattle area has finally reached a dubious distinction as the hottest housing market in the country. It marks the first time in nine years that Seattle has led the country in home-price growth. The typical single-family home across King, Snohomish and Pierce counties cost 11 percent more in September…

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US consumer confidence jumps to highest level in 9 years

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WASHINGTON (AP) — US consumer confidence rebounded this month to the highest level in more than nine years as Americans appeared unfazed by a tumultuous election campaign. The Conference Board said Tuesday that its consumer confidence index registered 107.1 in November, up from 100.8 last month and highest since July 2007. Americans’ assessment of current…

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Seattle’s real-estate prospects seen as hot in 2017

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Once again, Seattle is among the hottest markets in the annual forecast of Emerging Trends in Real Estate by the Urban Land Institute and PwC. For 2017, Seattle ranks fourth in overall prospects among the markets to watch, behind Austin, Dallas-Fort Worth and Portland. It ranks first in investor demand as capital is expected to…

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Rep. Dave Reichert thinks TPP trade deal not dead, despite Trump’s promise to dump it

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In a video he released last week, President-elect Donald Trump outlined the executive actions he plans to take on his first day in office. First on the list: “I am going to issue a notification of intent to withdraw from the Trans-Pacific Partnership, a potential disaster for our country,” Trump said, adding that he would…

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Trump, Pence set to unveil deal to keep 1,000 Carrier factory jobs in Indiana

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From the earliest days of his campaign, Donald Trump made keeping manufacturing jobs in the United States his signature economic issue, and the decision by Carrier, the big air-conditioner company, to move more than 2,000 of them from Indiana to Mexico was a tailor-made talking point for him on the stump. On Thursday, Trump and…

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OPEC agrees to cut output in bid to push up oil price

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VIENNA (AP) — Breaking with years of inaction, OPEC agreed Wednesday to cut its oil output for the first time since 2008. The move effectively scraps its strategy of squeezing U.S. competition through high supply that had backfired by lowering prices and draining the cartel’s own economies. The reduction of 1.2 million barrels a day…

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US consumer spending, incomes rose in October

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WASHINGTON (AP) — U.S. consumers boosted their spending again in October, while their incomes increased at the fastest clip in six months. A key gauge of inflation watched by the Federal Reserve posted the fastest 12-month gain in two years. Consumer spending increased 0.3 percent in October after a revised 0.7 percent jump in September,…

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Survey: US businesses add 216,000 jobs, most in 5 months

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WASHINGTON (AP) — U.S. companies added a solid 216,000 jobs in November, the most since June and evidence that the incoming Trump administration is inheriting a solid economy. Payroll provider ADP said Wednesday that nearly all the gains occurred in service sectors such as retail, hotels and restaurants, as well as higher-paying professional services. Construction…

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Carrier workers vow to hold Trump to promise of saving factory jobs

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INDIANAPOLIS — By the time the Chicago Cubs won the World Series this month, for the first time in 108 years, Paul Roell was already asleep. He did not stay up to see Barack Obama win the presidency in 2008 or watch in 2000 as the margin of votes separating George W. Bush and Al…

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Fed reports modest growth around nation in new survey

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WASHINGTON (AP) — The Federal Reserve reports that the U.S. economy grew at a modest rate this fall, with solid gains in consumer spending helping offset lingering weakness in exports. The Fed’s survey of economic conditions around the country found that seven of its 12 districts described growth as modest to moderate. Another three districts…

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