Tom Porcelli

Latest Tom Porcelli Items
  • FILE - In this Friday, March 21, 2014, file photo, snow partially covers the ground where a single family housing construction is underway in North Andover, Mass. Craig Alexander, chief economist at TD Bank, estimates that the brutal winter slowed economic activity by about 1.5 percentage points on an annual basis. (AP Photo/Elise Amendola, File)

    Winter wipeout: Economy shrank 2.9 percent in first quarter

    The latest report from the Commerce Department revealed a shocking 2.9 percent drop in economic output during the winter quarter that amounted to the biggest loss of economic traction since the first quarter of 2009, when the economy and financial markets were in free fall.

  • ** FILE ** A Wall Street street sign is pictured in front of the American flag hanging on the New York Stock Exchange in New York. (AP Photo/Mary Altaffer)

    Stocks soar on hint of debt breakthrough

    Wall Street stocks soared Thursday on signs of a possible breakthrough in the standoff in Washington, with House Republicans proposing a short-term increase in the national debt limit that would prevent a possible default on U.S. Treasury securities for another six weeks.

  • FILE-In this June 13, 2012 file photo, job seekers have their resumes reviewed at a job fair expo in Anaheim, Calif. U.S. employers added only 80,000 jobs in June, a third straight month of weak hiring that shows the economy is still struggling three years after the recession ended. The unemployment rate was unchanged at 8.2 percent, the Labor Department said in its report Friday, July 6, 2012. (AP Photo/Jae C. Hong, File)

    Economy is in the eye of the policy beholder

    Reading the economy these days is like taking a Rorschach test: Optimists see signs of progress in each economic report, while pessimists see the end of the expansion and many others host middling views.

  • Gas prices are posted at gas stations in Breezewood, Pa., Monday, April 9, 2012. (AP Photo/Gene J. Puskar)

    Gas prices stall early in season

    Gasoline prices appear to have peaked more than a month earlier than usual this year at less than $4 a gallon, reflecting reduced tensions with Iran and declining demand for fuel in the U.S. and China, oil analysts say.

  • ** FILE ** Megan Roney shops online at Europa Coffeehouse in Denver on Monday, Nov. 28, 2011, on what has become know as "Cyber Monday." (Denver Post via Associated Press)

    Shoppers give retailers early Christmas gift

    The Christmas shopping season started with a bang and the consumer mood is brightening at a critical time during the month that brings a quarter of the year's retail sales in the U.S.

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