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August 2014 U.S. Economic Fundamentals

Ally

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News articles for August 2014.
 

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Strong U.S. economy best medicine for Canadian economy





OTTAWA - A strong economic performance by the United States for the year's second quarter is fuelling hopes Canada's economy may too be poised to shift into a higher gear.






Analysts say the 4.0 per cent bounce-back in the U.S. during the quarter ` which included an 11.7 per cent spike in imports` was much better than expected and the type of news the Bank of Canada has been anticipating.





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U.S. job growth cools, unemployment rate rises





(Reuters) - U.S. job growth slowed a bit in July and the unemployment rate unexpectedly rose, pointing to slack in the labor market that could give the Federal Reserve room to keep interest rates low for a while.





Nonfarm payrolls increased 209,000 last month after surging by 298,000 in June, the Labor Department said on Friday. Economists had expected a 233,000 job gain.





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Canadian homebuyers buoy Arizona real estate





Much ado has been made of the real estate market in Arizona over the last decade. From good times and `McMansions` to a terrible rock-bottom scenario after the real estate bubble disaster, it has been a long ride.






One demographic kept buying houses throughout the economic turmoil ` Canadians.





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U.S. jobless claims fall to lowest level since 2006





WASHINGTON, D.C. (Reuters) ` The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to a further strengthening of labour market conditions.Initial claims for state unemployment benefits decreased by 14,000 to a seasonally adjusted 289,000 for the week ended Aug. 2, the Labor Department said on Thursday.





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U.S. chains eye Canada's prime real estate for expansion





U.S. luxury retail mall chains Nordstrom Inc. and Saks Fifth Avenue are cornering a piece of Canada`s prime real estate for expansion, according to a report on The Financial Post.





According to the report, Nordstrom Inc. (NYSE: JWN), America`s largest luxury department-store chain, aims to open six stores in Canada by 2017. Saks Fifth Avenue (NYSE: SKS), which was bought by Canadian firm Hudson`s Bay Co. in 2013, aims to open seven stores in the said country, two of which are opening next year in Toronto.





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California's exception drought just keeps getting worse





California`s three-year drought just went from bad to dreadful. In the course of the last week, the crimson expanse of `exceptional drought` grew to engulf the northern part of the state.







The chart above shows the drought's progression as reported today by the U.S. Drought Monitor. Archived maps show the end of July for each year since 2011.





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U.S. jobless claim up, but trend still points to firming job market





WASHINGTON, D.C. (Reuters) ` The number of Americans filing new claims for unemployment benefits rose more than expected last week, but will probably do little to change views that the labor market was strengthening.Initial claims for state unemployment benefits increased 21,000 to a seasonally adjusted 311,000 for the week ended Aug. 9, the Labor Department said on Thursday.





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Canadian developers have a taste for U.S. hotspots





While China has surpassed Canada in terms of sales volume, Canada remains the United States real estate market's top foreign buyer, the National Association of Realtors reported in its 2014 Profile of International Home Buying Activity.




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A visitor looks at a model of a new apartment complex at a showroom of Evergrande Real Estate Group in Wuhan, Hubei province, in this November 9, 2013 file picture. China's third largest property developer, Evergrande Real Estate, has joined smaller peers in offering zero-interest downpayment loans, a practice reminiscent of the U.S. housing boom that precipitated the global financial crisis. REUTERS/Stringer/Files (CHINA - Tags: BUSINESS REAL ESTATE) CHINA OUT. NO COMMERCIAL OR EDITORIAL SALES IN CHINA




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Unemployment rises in most U.S. states in July





WASHINGTON (AP) -- Unemployment rates rose in 30 U.S. states last month, even as employers in two-thirds of the states stepped up hiring. The trends reflect an increase in job-hunters nationwide as an improving economy has encouraged more people to seek work.





The Labor Department said Monday that unemployment rates fell in eight states in July and were unchanged in 12. At the same time, hiring rose in 36 states, fell in 13, and was unchanged in Iowa.





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