Recessions and depressions
WASHINGTON - U.S. consumers are feeling a bit less confident this month, but their spirits are still at the highest levels since before the Great Recession.
The Conference Board reported Tuesday that its consumer confidence index dropped this month to 96.4 from a revised 103.8 in January. The February and January readings are the highest since before the recession officially started in December 2007.
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.