12-08-2019  12:29 am   •   PDX Weather    •   SEA weather  
  • 1
  • 2
  • 3
  • 4

NORTHWEST NEWS

Black Food Professionals See Opportunities to “Scale Up” in School Cafeterias and on Store Shelves

Two Portland women are addressing disparities in the local food scene with Ethiopian and Haitian flavors, ingredients

Portland Fire Chief Sara Boone Climbing Historic Ladders

In 1995, Boone was the first African American woman hired by Portland Fire & Rescue; this year she became its first African American Chief

Christmas Tree Shopping is Harder Than Ever, Thanks to Climate Change and Demographics

For Christmas tree farms to survive, shoppers will need to be more flexible

November Holiday Travel at PDX Brings More Comfort, Convenience and Furry Friends

If you’ve not been to Portland International Airport in a few months, you’re in for some surprises.

NEWS BRIEFS

Conservation Breakthrough for Endangered Butterfly

The Oregon Zoo's breeding success provides new hope in an effort to save Oregon silverspots ...

Meet 80 Local Authors at OHS 52nd Holiday Cheer Book Sale and Signing

This free Oregon Historical Society event will be held this Sunday, December 8 from 12 p.m. – 4 p.m. ...

Need for Blood Doesn’t Stop for Holidays – Donors Needed

Those who come to give through Dec. 18 will receive a Amazon.com Gift Card ...

North Carolina Court Decision Upholds Removal of Confederate Monument

Lawyers argued that the monument was installed at the end of Reconstruction to further the false “Lost Cause” narrative,...

Artist Talk with 13-year-old Local to be Held This Tuesday, Nov. 26

Hobbs Waters will be discussing his solo exhibit “Thirteen” at The Armory in Portland ...

Oregon to change policy after losing parental rights fight

PORTLAND, Ore. (AP) — Oregon officials who attempted to end the parental rights of a couple because of the parents' low IQs have reached an agreement with U.S. officials requiring the state follow federal civil rights laws.The Oregonian/OregonLive reports that the Oregon Department of Human...

Commercial ocean crabbing further delayed in Oregon

NEWPORT, Ore. (AP) — State shellfish managers say the opening of the commercial Dungeness crab season will be further delayed until at least Dec. 31 along the entire Oregon coast as testing shows crab are still too low in meat yield in half of the areas along the coast.The World reports the...

Missouri fires football coach Barry Odom after 4 seasons

KANSAS CITY, Mo. (AP) — Missouri fired football coach Barry Odom on Saturday, ending the four-year stay of a respected former player who took over a program in disarray but could never get the Tigers over the hump in the brutal SEC.The Tigers finished 6-6 and 3-5 in the conference after...

Powell, Missouri snap 5-game skid with win over Arkansas

LITTLE ROCK, Ark. (AP) — In a game started by third- and fifth-string quarterbacks, the outcome was decided by one of their backups. It was appropriate enough for Arkansas and Missouri, two teams facing their longest losing streaks in decades.Fayetteville High School graduate Taylor Powell...

OPINION

Will You Answer the Call for Moral Revival?

In embracing and expanding the legacy of Dr. Martin Luther King, Jr., Revs. Barber and Theoharis have asked Presidential candidates to consider a debate that focuses exclusively on poverty ...

What I’m Thankful For This Season

Ray Curry gives thanks for a human right that shaped our country throughout the 20th century and that made Thanksgiving possible for so many Americans who, like him, didn’t get here by way of the Mayflower ...

Congressional Black Caucus Members Visit U.S.-Mexico Border: “Mistreatment of Black Immigrants is Another ‘Stain on America’”

Members said they witnessed first-hand the deplorable treatment and plight of Black immigrants ...

Portland, I'm Ready

Last month I had the privilege to stand with hundreds of supporters and announce my intention to run for re-election ...

AFRICAN AMERICANS IN THE NEWS

In Florida, Trump says he's Israel's best pal in White House

HOLLYWOOD, Fla. (AP) — President Donald Trump said Saturday that Israel has never had a better friend in the White House than him because, unlike his predecessors, “I kept my promises."Trump energized an audience that numbered in the hundreds at the Israeli American Council National...

Army football removes motto from spirit flag

WEST POINT, N.Y. (AP) — The United States Military Academy at West Point removed a motto from a spirit flag used by the school's football team because of its connection to hate groups. The letters GFBD, which stand for “God Forgives, Brothers Don’t,” were emblazoned on a...

Voting site reopened in Georgia after grassroots fight

HAZLEHURST, Ga. (AP) — When local election officials shut down a polling site in a predominantly black area of a rural Georgia county, displaced voters couldn’t look to the federal government to intervene as it once did in areas with a history of racial disenfranchisement.So residents...

ENTERTAINMENT

Bloomberg: His news reporters need to accept restrictions

NEW YORK (AP) — Democratic presidential candidate Michael Bloomberg says employees at his news organization need to accept restrictions with their paycheck, including the ban on investigating their boss.Bloomberg, billionaire founder of Bloomberg News, was asked in a CBS News interview about...

Billy Joel, Kardashians Diplo descend on Miami for Art Basel

MIAMI BEACH, Fla. (AP) — As gallerists and collectors descend on Miami's most prestigious art fair by day, the Hollywood crowd knows it's all about the exclusive after parties. Billy Joel, Stevie Wonder and Pharrell were in town while DJ Khaled and rappers Travis Scott and Gucci Mane held...

Belafonte recalls Horne’s activism as Solange is honored

NEW YORK (AP) — Lena Horne was a fierce advocate for civil rights in her later years, but that part of her legacy is often pushed behind her glamorous image. Her good friend Harry Belafonte hopes that a new award in her honor will push that aspect of her life front and center.“She had...

U.S. & WORLD NEWS

'Simplicity is genius': Joshua boxes smart to reclaim titles

RIYADH, Saudi Arabia (AP) — Anthony Joshua jumped up and down in the ring with his massive entourage,...

New Amazon lease for NY space renews debate over failed deal

NEW YORK (AP) — Amazon has signed a lease for a new office space in Manhattan that will house more than...

Protests subside, but economic aftershocks rattle Haitians

Port-au-Prince (AP) — The flaming barricades are mostly gone, protesters have largely dissipated and...

Pro-government protesters denounce Hong Kong 'rioters'

HONG KONG (AP) — Only after finding safety in numbers, joining hundreds of other pro-government protesters...

Iran says new budget bucks US oil embargo, uses Russian loan

TEHRAN, Iran (AP) — Iran's president said on Sunday his country will depend less on oil revenue next year,...

Nobel laureate: Face up to climate change, no escaping Earth

STOCKHOLM (AP) — An astronomer who shares this year's Nobel physics prize for discovering a planet outside...

McMenamins
Martin Crutsinger AP Economics Writer

WASHINGTON (AP) -- The economy grew late last year at a pace that in normal times would suggest it's healthy.

But the 2.8 percent annualized growth rate in the October-December quarter - the fastest pace since the spring of 2010 - isn't being cheered by most economists or investors. That's because growth would need to be much stronger to sharply reduce unemployment. And signs in the data point to slower growth ahead.

For all of last year, the economy grew just 1.7 percent. That was barely more than half the growth in 2010. The outlook for all 2012 is slightly better. The Federal Reserve estimates growth of roughly 2.5 percent for the year.

Though the economy has picked up and is far stronger than during the Great Recession, unemployment is still a high 8.5 percent. Many people remain reluctant to spend more or buy homes. Many employers are still hesitant to hire.

For the final three months of 2011, Americans spent more on vehicles, and companies restocked their shelves at a robust pace. But overall growth last quarter - and for all of last year - was held back by the sharpest cuts in annual government spending in four decades, the Commerce Department said Friday.

Several factors are expected to exert more of an economic drag this year: Cuts in military and other federal spending. A slower pace of company restocking. Weak or flat pay increases. Sluggish growth in consumer spending.

Stocks opened lower after the government reported the growth figures at 8:30 a.m. EST. The Dow Jones industrial average was down about 53 points in late-morning trading. Broader indexes were mixed.

"Overall, the pickup in growth doesn't look half as good when you realize that most of it was due to inventory accumulation," said Paul Ashworth, an economist at Capital Economics, who expects growth to slow to below 2 percent in the first three months of this year.

In the final three months of last year, consumer spending grew at a 2 percent annual rate. That's up modestly from the third quarter. Consumer spending is important because it makes up 70 percent of economic activity.

Much of the growth was powered by a 14.8 percent surge in sales of autos and other long-lasting manufactured goods.

Incomes, which have been weak all year because of high unemployment, grew at a modest 0.8 percent annual rate. That followed two straight quarters of declining incomes. But unless pay increases pick up, consumers who have dipped into savings in recent months, may pull back.

Business restocking, which can vary widely from quarter to quarter, was the greatest contributor to growth in the October-December period. It added nearly 2 percentage points to the gross domestic product, or GDP.

Government spending at all levels fell at an annual rate of 4.6 percent in the fourth quarter and 2.1 percent for the year - the biggest decline since 1971. Sweeping federal defense cuts at the beginning and end of 2011 were a major factor.

The economy is measured by GDP, which covers everything from haircuts to hotel bookings to jet fighter planes. Friday's estimate was the first of three for the fourth quarter.

Other data show that in some ways, the economy ended 2011 on a strong note. Companies invested more in equipment and machinery in December. The unemployment rate fell to 8.5 percent last month - the lowest level in nearly three years - after the sixth straight month of solid hiring.

People are buying more cars, and consumer confidence is rising. Even the depressed housing market has shown enough improvement to make some economists predict a turnaround has begun.

Ian Shepherdson, an economist at High Frequency Economics, is among the more optimistic analysts. He said he thought business investment in capital goods would be stronger and consumer spending higher this year.

Richard DeKaiser, a senior economist at Parthenon Group, expects just 2 percent annual growth in the January-March quarter. But DeKaiser says that should be the weakest quarter. He expects the economy to gain strength in each quarter and grow 2.6 percent for the entire year.

Still, many economists worry that a recession in Europe could dampen demand for U.S. manufactured goods, which would slow growth. And without more jobs and better pay, consumer spending is likely to stagnate.

The Fed signaled this week that a full recovery could take at least three more years. In response, it said it would probably not increase its benchmark interest rate until late 2014 at the earliest - a year and a half later than it had previously said.

The central bank also slightly reduced its outlook for growth this year, from as much as 2.9 percent forecast in November down to 2.7 percent. The Fed sees unemployment falling as low as 8.2 percent this year.

© 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.

mlkbreakfast2020 tickets 300x180

Martha Redbone Trio
Crown Royal Boss Play the Game
Calendar

Photo Gallery

Photos and slide shows of local events