WASHINGTON U.S. private employers maintained a steady pace of hiring in August and contracts to buy previously owned homes surged in July, suggesting the economy was regaining sufficient momentum for the Federal Reserve to raise interest rates this year.
Other data on Wednesday showed a sharp moderation in factory activity in the Midwest this month amid shrinking order books, indicating the manufacturing sector continued to be hobbled by the residual effects of a strong dollar and oil price slump.
14:36 U.S. economy added 178,000 jobs in November; unemployment rate dropped to 4.6 percent13
13:41 Solid Job Growth Strengthens Prospect for a Fed Rate Increase9
15:30 Five killed as tornadoes hit northeastern Alabama, Tennessee6
17:22 Evacuation orders lifted for Green Mountain brush fire near Denver10