11212017Tue
Last updateTue, 21 Nov 2017 4pm

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In a Surprise, Goods Orders Rose in April

Orders for manufactured goods posted a surprisingly strong increase in April as demand rose across a number of industries.

The Commerce Department report on Tuesday said that orders were up 1.1% in April after a 1.5% increase in March. Orders fell in January and March as a spreading slowdown in the overall economy depressed manufacturing activity.

Source: AP

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Senate Votes to Begin Global Warming Debate

The Senate began what is expected to be a weeklong, contentious debate over legislation to combat global warming by mandatory reductions in carbon dioxide and other greenhouse gases.

Senators voted 74-14 to proceed to the bill, but immediately it became clear Republican opponents were not going to make it easy.

Source: AP

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Dollar Slips Versus Euro After Midwest Manufacturing Report

The dollar fell against the euro after an index of Milwaukee-area manufacturing fell to its lowest level in five years.

The National Association of Purchasing Management-Chicago said on Friday its Milwaukee monthly index of regional manufacturing fell to 45, from 48 in April. Figures under 50 indicate contraction.

Source: International Business Times

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Op-Ed: Carbon's Power Brokers

An unprecedentedly radical government grab for control of the American economy will be debated this week when the Senate considers saving the planet by means of a cap-and-trade system to ration carbon emissions. The plan is co-authored (with John Warner) by Joe Lieberman, an ardent supporter of John McCain, who supports Lieberman's legislation and recently spoke about "the central facts of rising temperatures, rising waters and all the endless troubles that global warming will bring."

Source: George F. Will

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Gross Domestic Product Up in First Quarter

Commerce Secretary Carlos M. Gutierrez released the following statement on the preliminary estimate of real gross domestic product (GDP), which showed that the American economy grew at a rate of 0.9% in the first quarter of 2008:

“While our economy is growing at a rate slower than we would like, it grew more than first estimated in the first quarter…”

Source: Dept. of Commerce

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