Recessions and depressions
WASHINGTON - Brutal winter weather snarled traffic, cancelled flights and cut power to homes and factories in February. Yet it didn't faze U.S. employers, who added 175,000 jobs, far more than the two previous months.
Modest but steady job growth has become a hallmark of a nearly 5-year-old economic rebound that remains sluggish yet strikingly resilient. The economy has been slowed by political gridlock, harsh weather and global crises. But those disruptions have not derailed growth.
WASHINGTON - Consumers increased their borrowing in January on autos and student loans but cut back on their credit card use.
Consumer borrowing rose $13.7 billion in January following an even larger $15.9 billion rise in December, the Federal Reserve reported Friday.
The category that includes auto and student loans increased $13.9 billion while the category that covers credit cards fell $226 million, marking the third time in the past five months that credit card loans have declined.
WASHINGTON - A surging stock market and rebounding home prices boosted Americans' wealth to a record in the final three months of last year, though both trends have slowed so far in 2014.
Household net worth jumped nearly $3 trillion during last year's fourth quarter to $80.7 trillion. Stock and mutual fund portfolios gained nearly $1.7 trillion, or 9 per cent, according to a Thursday report by the Federal Reserve.
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.
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.