November 30, 2012 |
The U.S. economy grew much faster in the third quarter than first estimated, but the latest government report laid bare the vulnerabilities for the recovery as politicians struggle to break the stalemate over government spending and tax policies. Although the nation's economic growth rate was revised to a more healthy 2.7% for the third quarter from the 2% pace initially estimated, the Commerce Department said consumer and business spending was softer than previously thought. Company spending on equipment and software fell for the first time since spring 2009.
April 13, 2012 |
BEIJING — China's roaring economy cooled the first three months of this year to its slowest pace of growth in three years because of slackening export demand and a weakened property market. The country's gross domestic product expanded 8.1% in the first quarter compared with a year earlier, China's National Bureau of Statistics said Friday. That's down from 8.9% growth in the fourth quarter last year and below many analysts' expectations. The figure could spook investors and prolong fears of a potential hard landing for the world's second-largest economy after years of unsustainably high growth.
March 30, 2012 |
WASHINGTON - Fresh evidence indicates that the labor market is continuing to heal and that there's stronger economic growth supporting new hiring than the most obvious numbers might suggest. The Labor Department said Thursday that new claims for unemployment benefits dipped last week to 359,000 - the lowest level since April 2008. Jobless claims have been moving steadily lower in recent weeks amid other signs that the job market is gaining strength. Separately, the Commerce Department said Thursday that its latest tally of the nation's gross domestic product, the total value of goods and services produced, showed a solid 3% annualized increase in the fourth quarter last year.
January 18, 2012 |
China's economy grew at its slowest pace in 21/2 years in the final three months of 2011, weighed down by shrinking exports, tighter bank lending and a cooling real estate market. The country's gross domestic product expanded at an annual rate of 8.9% in the fourth quarter of 2011, compared with 9.8% in the year-earlier period, China's National Bureau of Statistics said Tuesday. For the year, the world's second-largest economy expanded 9.2%, down from 10.4% in 2010. Although still strong compared with that of other major economies, China's economic growth is slowing uncomfortably fast for the country's leadership.
September 30, 2011 |
The economy grew slightly more than previously estimated in the last quarter and weekly jobless claims fell to their lowest number in five months, signs that the nation may not be heading into another recession. The economy grew at an annual rate of 1.3% from April through June, an anemic but marginally better pace than the most recent estimate of 1%, federal officials said Thursday. The revised data on total economic output, also known as gross domestic product, narrowly beat expectations.
March 5, 2011 |
China announced a 12.7% increase in its defense budget Friday, a substantial hike that is sure to stoke global concerns about its rising military capability. The double-digit increase comes after a tense year in which an increasingly confident China asserted its interests in the Yellow and South China seas, at times unnerving its neighbors and the United States. Announcing the budget increase in the run-up to the National People's Congress, Li Zhaoxing, a spokesman for the legislative gathering, tried to allay concerns.