September Payroll Losses Rise - The Labor Department reported that 263,000 payroll jobs were lost which triggered a 0.1% rise in the unemployment rate to 9.8%. Total hours worked in the economy fell by 0.5% with the average workweek now at 33 hours. Average hourly earnings rose just 1 penny (0.1%) to $18.67.
Factory Orders Fall 0.8% - The Commerce Department reported that factory orders decreased by 0.8% in August. Orders for durable goods decreased 2.6% in August, revised down from 2.4% estimated a week ago. Orders for nondurable goods rose 0.8%. Core capital equipment orders fell 0.9% in August which is higher than last week's estimate of -1.9%.
BofA Paying TARP Dividends - Bank of America said on Friday it will pay out about $713 million in dividends to the US government for its preferred stock that was purchased. BofA said it has paid $1.83 billion in dividends to the government this year through September.
Euro Zone PPI Rises - Producer prices in the euro area rose 0.4% in August versus July but fell 7.5% year over year according to the Eurostat statistics agency. Excluding energy prices, and PPI rose 0.1% on a monthly basis.
British Housing Prices Stable Year Over Year - British house prices rose for the fifth consecutive month in September which brought the average price even year over year to flat. This marks the first time the annual price change has not been negative since March 2008 according to mortgage lender Nationwide.
The average price saw a monthly rise of 0.9% to 161,816 pounds ($258,736). Previously, housing prices rose 1.4% in August which left the average 2.7% below its year-ago level.
Factory Orders Fall 0.8% - The Commerce Department reported that factory orders decreased by 0.8% in August. Orders for durable goods decreased 2.6% in August, revised down from 2.4% estimated a week ago. Orders for nondurable goods rose 0.8%. Core capital equipment orders fell 0.9% in August which is higher than last week's estimate of -1.9%.
BofA Paying TARP Dividends - Bank of America said on Friday it will pay out about $713 million in dividends to the US government for its preferred stock that was purchased. BofA said it has paid $1.83 billion in dividends to the government this year through September.
Euro Zone PPI Rises - Producer prices in the euro area rose 0.4% in August versus July but fell 7.5% year over year according to the Eurostat statistics agency. Excluding energy prices, and PPI rose 0.1% on a monthly basis.
British Housing Prices Stable Year Over Year - British house prices rose for the fifth consecutive month in September which brought the average price even year over year to flat. This marks the first time the annual price change has not been negative since March 2008 according to mortgage lender Nationwide.
The average price saw a monthly rise of 0.9% to 161,816 pounds ($258,736). Previously, housing prices rose 1.4% in August which left the average 2.7% below its year-ago level.
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