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Recessions and depressions

US economy posts even stronger growth in Q3

US economy on a roll as third-quarter growth revised higher
Martin Crutsinger, The Associated Press

WASHINGTON - The U.S. economy grew even faster in the third quarter than initially thought, posting the strongest six months of growth in more than a decade and pulling further ahead of other big economies of the world.

More-confident US households step up borrowing

US households step up borrowing in sign of greater confidence and willingness to spend
Christopher S. Rugaber, The Associated Press

WASHINGTON - Americans are slowly but steadily borrowing more money, bringing to an end a five-year effort to cut household debt that has slowed consumer spending and the economy.

Total household debt increased $78 billion in the July-September quarter to $11.7 trillion, the Federal Reserve Bank of New York said Tuesday. The increase was led by rising mortgage and auto loans. That is the fourth increase in household debt in the past five quarters.

China, Europe chase growth amid global slowdown

China cuts interest rates, ECB eyes more stimulus in efforts to reverse global slowdown
Joe McDonald, The Associated Press

BEIJING, China - China's central bank unexpectedly slashed interest rates on Friday to re-energize the world's No. 2 economy, joining a growing list of major economies that are trying to encourage growth in the face of a global slowdown.

2015 stock outlook: Good but not great, and bumpy

Stock fund managers see more gains, but smaller and in a more jagged fashion than prior years
Stan Choe, The Associated Press

NEW YORK, N.Y. - Stocks can keep climbing next year, tacking even more gains onto their phenomenal run of the last five-plus years. Just don't expect them to be as big -- or to come with as little heartburn -- as before.

Retail sales weaken in Dec. but cap a record year

Retail sales inch up to end record year; holiday-season layoffs boost unemployment claims
Martin Crutsinger, The Associated Press

WASHINGTON - America's retailers enjoyed a record 2011 and their first $400 billion sales months ever. But the final month of the year was a dud.

Sales eked out a 0.1 per cent increase in December, to a seasonally adjusted $400.6 billion.

It was the second straight month that sales topped $400 billion. Revised government data showed that sales in November also surpassed that level.

Skyscraper boom may herald downturn

Pride cometh before a fall: Skyscraper boom may herald economic downturn
Erika Kinetz, The Associated Press

MUMBAI, India - A skyscraper building boom in China and India may be a sign of an impending economic correction in two of Asia's largest economies, according to a new report by Barclays Capital.

Barclays has mapped an "unhealthy correlation" between construction of the world's tallest buildings and impending financial crises over the last 140 years.

Today, China is home to half of the world's skyscrapers — defined as buildings over 240 metres tall — currently under construction.

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