CBS Evening News - 2001-08-16
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Read a transcript preview of “CBS Evening News - 2001-08-16” from malgent, uploaded on 2025-08-17.
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Language: English (original, YouTube automatic captions)
[0:00] risk. And this is supposed to be the
[0:03] safer alternative to handheld cell
[0:06] phone.
[0:08] [Music]
[0:15] This is the CBS Evening News with Dan
[0:18] Rather.
[0:20] >> Good evening. Dan is off tonight. I'm
[0:22] Bob Sheeper. Well, the clouds over the
[0:24] US economy have parted just a bit. The
[0:27] one real bright spot is housing. New
[0:29] figures out today show that builders
[0:31] can't put houses up fast enough.
[0:33] Consumers apparently have decided they
[0:35] are the best place to invest their
[0:37] money. And money is going farther than
[0:39] it has in a while. The government
[0:41] reported today that consumer prices fell
[0:43] in July for the first time this year.
[0:46] Inflation is now running just 2.8%.
[0:49] That's down from 3.4 last year. Wall
[0:52] Street's response to all of this. The
[0:54] Dow gained 46 points today. The Nasdaq
[0:57] was up 11. Anthony Mason is on the
[1:00] market watch tonight.
[1:05] >> The economy rang up some encouraging
[1:07] numbers in July, led by plummeting
[1:09] energy costs, consumer prices had their
[1:12] largest drop in 15 years.
[1:14] >> Today's consumer price numbers
[1:16] essentially tell us that there is no
[1:18] inflation right now.
[1:20] Good news, but even better, says John
[1:22] Hancock's Bill Cheney, was the boom in
[1:24] housing construction, which jumped again
[1:26] in July, nearly 3%, the biggest increase
[1:29] in nearly a year and a half.
[1:32] >> If consumers are still willing to go out
[1:34] there and buy houses, that pretty much
[1:36] says they're not about to cut back on
[1:38] their overall spending, and that's
[1:40] what's keeping the economy going and is
[1:41] going to propel the recovery.
[1:43] >> Lower mortgage rates have helped. The
[1:45] 30-year fixed fell b