Sales of new homes in United States dropped for the second month in a row this year, 15.8% in January and 3.9% in February, according to the Commerce Department.
China's accumulation of United States debt is not a problem for the US or for the Federal Reserve monetary policy, said Chairman Ben Bernanke said in a letter dated March 16 but released on Monday.
The United States tourism industry grew at an annual 8% in the fourth quarter of 2006, the highest since the first quarter of 2005, according to a Commerce Department release.
Federal Reserve Chairman Ben Bernanke and his colleagues are still worried about inflation, even while hinting that an interest rate cut may be needed to help boost a weak economy.
United Airlines has decided to cease operations in Uruguay beginning next June 7 which means the end of the company's flights to Montevideo. However United will continue to operate from Argentina and Brazil.
United States consumer prices increased above forecasts in February pushed by the cost of energy and food which rose at its fastest rate for two years, according to the latest release from the US Labor Department.
Late mortgage payments and home repossessions in the United States reached their highest level according to the Mortgage Bankers Association (MBA) data confirming investor fears that the sector is struggling and may weaken more.
United States current account deficit in the fourth quarter of 2006 fell to its smallest in more than a year helped by lower oil prices and a steady rise in U.S. exports, according to a Commerce Department report released Wednesday.
United States mortgage applications rose last week with both new purchases and re-financings driven up by the lowest long-term home loan rates since early December, according to a report from the Mortgage Bankers Association.
Wall Street shares rebounded Wednesday after a stocks sell-off in Europe prompted by continued concerns about the US economy and mortgage industry. Asian markets were also volatile reflecting similar sensitivity.