Business Economy News Headlines

AP - The nation's unemployment rate zoomed to a five-year high of 6.1 percent in August as employers slashed 84,000 jobs, dramatic proof of the mounting damage a deeply troubled economy is inflicting on workers and businesses alike.

AP - Construction spending took a bigger-than-expected tumble in July as housing activity dropped to the lowest level in seven years and nonresidential activity fell for the first time in seven months.

AP - The punch of Hurricane Gustav appeared to fall softly Monday on the nation's vast energy complex along the U.S. Gulf Coast, and was overshadowed by growing anxiety over the state of the global economy.

AP - Personal incomes plunged in July while consumer spending slowed significantly as the impact of billions of dollars in government rebate checks began to wane.

AP - The economy shifted to a higher gear in the spring, growing at its fastest pace in nearly a year as foreign buyers snapped up U.S. exports and tax rebates spurred shoppers at home.

AP - Orders for big-ticket manufactured goods turned in a second consecutive strong monthly performance in July, a far bigger-than-expected gain led by a huge jump in demand for commercial aircraft.

AP - Sales of new homes rose in July, but still fell short of economists' expectations, and home prices continued to sink.