Labor/Economy

The Bureau of Economic Analysis released its final estimate of U.S. GDP growth on Thursday, the one that will be cited forever more, and it wasn’t good tidings for the U.S. economy.

According to the S&P/Case-Shiller Home Price Indices, which were released on Tuesday, average U.S. home prices increased by 1.5 percent for the 10-city composite index and by 1.6 percent for the 20-city composite index in July 2012 compared with June.

Two different branches of the Federal Reserve issued economic reports on Monday, one not particularly sanguine about the U.S. economy, the other more hopeful about a region whose relatively strong economy has gotten some attention lately.

The U.S. Bureau of Labor Statistics reported on Friday that regional and state unemployment rates had little change in August.

The Federal Reserve said in its second quarter 2012 Flow of Funds report on Thursday that U.S. household net worth was $62.7 trillion in 2Q12, a slight decline compared with the first quarter.

In another sign that the housing market is getting some traction, U.S. housing starts were up in August to an annualized rate of 750,000 units, according to the Census Bureau.

The National Association of Home Builders reported that its housing market index increased 3 points in September to 40.