International Monetary Fund chief Christine Lagarde urged the U.S. on Thursday not to "put a brake on this beginning of recovery" by failing to resolve an impasse over the budget and cutting back government spending too deeply.
Even as the economy shows signs of improvement and poverty levels off, new U.S. census data suggests the gains are halting and uneven. Depending on education, race, income and even marriage, not all segments of the population are seeing an economic turnaround.
A gauge of the U.S. economy's future health posted a solid gain in August, signaling stronger growth in coming months. The Conference Board said Thursday that its index of leading indicators increased 0.7 percent in August from July. That followed a 0.5 percent gain in July from June.
The Securities and Exchange Commission voted 3-2 Wednesday to propose a rule that would compel companies to report that information publicly. Companies would have to report the ratio between their chief executive's annual compensation and the median, or midpoint, pay of employees.
Following a strong pace of production in the first quarter of 2013, manufacturing production eased in the second quarter but should accelerate growth, according to the quarterly Manufacturers Alliance for Productivity and Innovation U.S. Industrial Outlook, a report that analyzes 27 major industries.
The number of people seeking U.S. unemployment benefits rose 15,000 last week to a seasonally adjusted 309,000. But the data was distorted for the second straight week by reporting delays. The Labor Department says the level is only slightly above the previous week's 294,000, the lowest in six years.
The Fed predicted Wednesday that the economy will grow just 2 percent to 2.3 percent this year, down from its previous forecast in June of 2.3 percent to 2.6 percent growth. Next year's economic growth will be a barely healthy 3 percent, the Fed predicts.
Obama in 2010 set a goal of doubling exports by 2015, but the country is not on track to meet that goal. However, Obama pointed out the United States now sells more goods overseas than ever before, and those sales have boosted the U.S. economy. Obama says "made in America" means something around the world.
The Business Roundtable's index, which surveys CEOs about their outlook for the economy, fell to 79.1 in the third quarter from 84.3 in the previous quarter. Any reading above 50 suggests expansion. The Business Roundtable says that 32 percent of its CEOs surveyed expect to increase hiring in the next six months.
Obama was to speak to the Business Roundtable on Wednesday, drawing attention to a modest economic recovery that he says would be hurt if Republican lawmakers can't work with Democrats to pass a stopgap spending measure to keep the government operating after the fiscal year ends Sept. 30.
CFO Greg Hayes told investor analysts that automatic U.S. federal budget cuts beginning in March could take a bigger bite out of profit in 2014 than the company initially expected. The Department of Defense is Sikorsky's biggest customer, "and I just don't know what's going to happen in DoD," Hayes said.
Germany boasts the world's most powerful woman, Europe's most powerful economy and an industrial machine that's the envy of the planet.With all that muscle, it seems natural to assume the mantle of Europe's undisputed leader.
Coming off of a weak back-to-school shopping period, a research firm expects holiday sales growth will be slower this year during the crucial holiday season. Shoppers are also expected to visit fewer stores as they research purchases online.
The government could run out of cash to pay its bills in full and on time sometime between the end of October and the middle of November if lawmakers fail to increase its $16.7 trillion borrowing cap, Congressional Budget Office Director Doug Elmendorf said on Tuesday.
U.S consumer prices barely rose last month, the latest sign that slow economic growth is keeping inflation tame.The Labor Department says the consumer price index increased just 0.1 percent in August, after a 0.2 percent increase in July.
Europe has finally emerged from recession. Japan is growing after two decades of stagnation. And the United States is trudging ahead. Yet an Associated Press survey of more than two dozen economists suggests that global growth will remain below full health this year and next.
In a blistering warning to congressional Republicans, President Barack Obama said Monday it would be the "height of irresponsibility" for lawmakers to cause a new economic crisis just five years after the near-collapse of the nation's financial system.
U.S. factories increased output in August by the most in eight months, helped by a robust month at auto plants. The gains are a hopeful sign that manufacturing could help boost economic growth in the second half of the year.Manufacturing production rose 0.7 percent last month from July, the Federal Reserve said Monday.
Havana's harbor has long been an unsightly jumble of piers left to crumble into piles of rusty, twisted rebar. Its dominant feature is a refinery smokestack across the bay that belches smoke and flame 24 hours a day.But lately demolition crews and towering cranes have been working double-time to finally tear down the ruined docks.
The gap in employment rates between America's highest- and lowest-income families has stretched to its widest levels since officials began tracking the data a decade ago, according to an analysis of government data conducted for The Associated Press.
Older people searching for jobs have long fought back stereotypes that they lack the speed, technology skills and dynamism of younger applicants. But as a wave of baby boomers seeks to stay on the job later in life, some employers are finding older workers are precisely what they need.
Business stockpiles increased 0.4 percent in July from June, the Commerce Department said Friday, after ticking up just 0.1 percent the previous month. Total business sales rose 0.6 percent in July, up from just 0.2 percent in June.
The Labor Department says that excluding volatile food and energy costs wholesale prices were unchanged in August. They were up 1.1 percent over the past year, smallest gain since June 2010 and another sign that inflation remains under control.
The biggest factor is that men dominate construction and manufacturing — industries that have not recovered millions of jobs lost during the downturn. By contrast, women have made up a disproportionate share of workers in those that have been hiring — retail, education, health care, restaurants and hotels.
The number of Americans seeking unemployment benefits plummeted last week 31,000 to a seasonally adjusted 292,000. But the drop was mostly because of technical issues in two states that delayed the processing of applications. The Labor Department says less volatile four-week average fell to 321,250, the lowest in six years.