Recessions and depressions
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.
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.
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.
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.
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.