Economic concerns beat Wall Street in late-day slide (2)

16:00, September 24, 2010      

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  According to the National Association of Realtors, sales of previously occupied homes increased 7.6 percent to an annual rate of 4.13 million. However, the bounce was not strong enough to keep August from being the second-worst month in sales in more than a decade.

  Sales were down 19 percent from a year ago, while prices were up 1.2 percent. Home sales data have been volatile in recent months due to the federal tax credit for home purchases, which expired in the spring.

  Conference Board's index of leading economic indicators (LEI) -- a measure of the economy's future performance -- rose 0.3 percent in August, while analysts had forecast a 0.1 percent increase for the month.

  The U.S. LEI, which began rising three months before the end of the recession, remains on a general upward trend. However, the pace has been slowing.

  "While the recession officially ended in June 2009, the recent pace of growth has been disappointingly slow, fueling concern that the economic recovery could fade and the U.S. could slide back into recession," says Ken Goldstein, economist at the Conference Board.

  "However, latest data from the U.S. LEI suggest little change in economic conditions over the next few months. Expect more of the same -- a weak economy with little forward momentum through 2010 and early 2011," Goldstein added.

 

Source: Xinhua

 

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(Editor:王千原雪)

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  • Chinese Navy soldiers hold an evening party marking the upcoming 62nd National Day aboard Chinese Navy hospital ship "Peace Ark" in the Pacific on Sept. 28, 2011. The Chinese National Day falls on Oct. 1. (Xinhua/Zha Chunming)

  • Photo taken on Sept. 30, 2011 shows the crowd at the plaza of Beijing Railway Station in Beijing, capital of China. The railway transportation witnessed a travel peak with the approach of the seven-day National Day holidays on Friday. (Xinhua)
  • A man wearing high-heel shoes takes part in the 3rd annual Walk a Mile in Her Shoes, an event when men literally walk in women's shoes to raise awareness about ending violence against women, at Yonge-Dundas Square in Toronto, Canada, Sept. 29, 2011. (Xinhua/Zou Zheng)
  • Photo taken on Sept. 29, 2011 shows a cargo ship in danger on the sea near Zhuhai City, south China's Guangdong Province. Cargo ship Fangzhou 6 of Qingzhou of southwest China's Guangxi Zhuang Autonomous Region lost control after water stormed into its cabin due to Typhoon Nesat on the sea near Zhuhai Thursday, leaving 12 crew members in danger. Rescuers rushed to the ship and saved them by using a helicopter. (Xinhua)
  • Actress Gong Li poses for L'Officiel Magazine. (Xinhua Photo)

  • Demonstrators from the Occupy Wall Street campaign hold placards as they march in the financial district of New York September 29, 2011. After hundreds of protesters were denied access to some areas outside the New York Stock Exchange on September 17, demonstrators set up a rag-tag camp three blocks away. Zuccotti Park is a campground festooned with placards and anti-Wall Street slogans. The group is adding complaints of excessive police force against protesters and police treatment of ethnic minorities and Muslims to its grievances list, which includes bank bailouts, foreclosures and high unemployment. (Xinhua/Reuters Photo)
http://english.people.com.cn/90001/90778/90859/7149002.pdf