China’s economy grew by 7.4 percent in the third quarter, missing the government’s target and falling to its slowest rate of growth since the global financial crisis. The figures released by the National Bureau of Statistics on Thursday represent the seventh straight quarter of easing for the world’s second largest economy. Although 7.4 percent growth […]
China’s Economy Slows to 7.4 Percent in Q3
Posted October 17th, 2012 at 11:20 pm (UTC-5)
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Wen Says Chinese Economy ‘Relatively Good’
Posted October 17th, 2012 at 1:00 pm (UTC-5)
Chinese Premier Wen Jiabao says his nation’s economy was “relatively good” in the past three months and Beijing now expects to achieve its goal of 7.5 percent growth this year. The growth of China’s economy, the world’s second largest after the United States, has been slowing over the past year and a half. But in […]
US Housing Construction Surged in September
Posted October 17th, 2012 at 11:40 am (UTC-5)
The U.S. says home construction surged in September to its highest level in four years, perhaps signaling that the country’s moribund housing industry is headed toward recovery. The government said Wednesday housing starts jumped 15 percent last month, to an annual rate of 872,000, the most since July 2008. The U.S. housing industry — an […]
France’s Hollande Says End to Eurozone Crisis ‘Very Near’
Posted October 17th, 2012 at 10:10 am (UTC-5)
French President Francois Hollande says the end of the eurozone’s debt crisis is “very close,” but deep financial concerns remain for Greece and Spain in advance of a European Union summit. Mr. Hollande told a group of European newspapers Wednesday that the continent’s leaders had laid the foundation at a June summit for a banking […]
Greek Austerity Talks Remain Stalemated
Posted October 15th, 2012 at 11:40 am (UTC-5)
Greece says negotiations with its international lenders over the country’s latest austerity plan are unlikely to be concluded before this week’s European Union summit. Finance Minister Yannis Stournaras said Monday Greek officials are still talking with representatives of the International Monetary Fund, the European Central Bank and the EU. But he said he did not […]
US Consumer Confidence Rises
Posted October 12th, 2012 at 11:05 am (UTC-5)
U.S. consumers have grown more optimistic, which could boost retail sales and the economy. Friday’s report from the University of Michigan says a measure of “consumer sentiment” rose to the highest level since before the recession began . Economists say confident consumers are more likely to make purchases, which is important because consumer demand drives […]
US Jobless Claims Hit 4-Year Low
Posted October 11th, 2012 at 10:20 am (UTC-5)
Reports show the U.S. job market getting a little better, the trade deficit getting worse, and the outlook for manufacturing dimming over the next few months. Thursday’s report from the Labor Department says the number of Americans signing up for unemployment aid fell to the lowest level in more than four years. First-time applicants fell […]
IMF Predicts Slower Economic Growth
Posted October 9th, 2012 at 11:45 am (UTC-5)
Experts at the International Monetary Fund say the global economy will expand more slowly this year, while the risks of serious economic problems are growing. The IMF has cut its global growth forecast slightly to just 3.3 percent. The glum prediction caused many stock markets to decline in Tuesday trading. It comes as key economic […]
IMF Predicts Slower Global Economic Growth
Posted October 8th, 2012 at 5:35 pm (UTC-5)
The International Monetary Fund is cutting its prediction for global economic expansion this year, and the fund’s experts say the risks of serious economic problems are growing. The World Economic Outlook is being published ahead of meetings of key financial officials from around the world in Tokyo this week. It says global growth will slow […]
Europe Takes Another Stab at Stability
Posted October 8th, 2012 at 3:05 pm (UTC-5)
Much of Europe is hoping a new $653 billion bailout fund might finally start to help ease the financial crisis that continues to grip much of the continent. Eurozone finance ministers meeting in Luxembourg Monday got updates and officially launched the fund, officially known as the European Stability Mechanism. European Union economics chief Olli Rehn […]
