Gauge of U.S. economy lower in latest week - 2007-02-16
A gauge of future growth of the U.S. economy decreased in the latest week on higher jobless claims and slower housing activity, while its annualized rate of growth also decreased, a research group declared on Friday. The Economic Cycle Research Institute, an independent forecasting group, declared that its Weekly Leading Index dropped to 138.9 in the week ending Feb. 9 from an upwardly revised 140.2 in the prior week.
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Housing Continues To Plunge - 2007-02-16
New home construction dropped to the lowest level in almost 10 years in January, and housing's drag on the U.S. economy will persists. The Commerce Department reported that construction of new homes and apartments dropped by 14.3 percent in January, pushing total activity down to a seasonally adjusted annual rate of 1.408 million units, the slowest pace in close to 10 years. The last time construction was lower was August of 1997.
Read the full story at CBS News