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US factory orders up 1.6 percent, best in 7 months

In this Monday, Dec. 7, 2015, photo, taken with a fisheye lens, the distinctive winglet on the second Boeing 737 MAX airplane being built is shown on the assembly line in Renton, Wash. On Thursday, March 3, 2016, the Commerce Department reports on U.S. factory orders for January. (AP Photo/Ted S. Warren)

WASHINGTON (AP) — Orders to U.S. factories increased in January by the most in seven months, while a key category that tracks business investment plans rose by the largest amount in 19 months. Factory orders rose 1.6 percent in January after two months of declines, the Commerce Department reported Thursday. It was the biggest jump since June, though it was ...

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US economy barely grew in first quarter

WASHINGTON  — The U.S. economy skidded to a near halt in the first three months of the year, battered by a triple whammy of harsh weather, plunging exports and sharp cutbacks in oil and gas drilling. The overall economy grew at a barely discernible annual rate of 0.2 percent in the January-March quarter, the Commerce Department reported Wednesday. That is ...

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US trade deficit jumps 17.1 percent to $46.6 billion

WASHINGTON — The U.S. trade deficit in December jumped to the highest level in more than two years as American exports fell and imports climbed to a record level. The deficit jumped 17.1 percent to $46.6 billion in December, the biggest imbalance since November 2012, the Commerce Department reported Thursday. The widening trade gap reflected a drop in exports, which ...

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Exports could fuel a new fire in the Eagle Ford Shale

the word "export"

On the tail end of 2014, the Obama Administration gave hinted at a major breakthrough for U.S. petroleum exports when the Commerce Department’s Bureau of Industry and Security (BIS) told oil companies that they should consider exporting a lightly processed form of crude oil called condensate without formal permission, according to a recent Reuters report. The impact of America becoming ...

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Oil slides, Brent tests $60 as data shows glut building

NEW YORK – Global oil markets fell again on Wednesday in holiday-thin trade, extending more than a week of see-saw volatility as traders jousted over whether a growing supply glut had been fully priced in. Oil whipped lower early in the day and tested new lows after U.S. data showed crude inventories unexpectedly rose by 7.3 million barrels last week ...

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U.S. consumer spending gains steam, boosted by lower gas prices

WASHINGTON – U.S. consumer spending advanced at a brisk clip in November as lower gasoline prices gave the holiday shopping season a boost, offering the latest sign of underlying momentum in the economy. The Commerce Department said on Thursday retail sales excluding automobiles, gasoline, building materials and food services, increased 0.6 percent last month after rising 0.5 percent in October. ...

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The oil export ban calamity

Zachary Toliver | Shale Plays Media Although the United States still holds onto a nearly 40 year old ban on exporting crude oil, many companies have found a pretty slick way to get some of this product out of the country, and according to the Wall Street Journal, The Obama Administration just gave the technicality an important green light. Companies ...

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