<div><p>World stock markets tumbled Tuesday, dragged down by heavy losses the previous day on Wall Street after the United States confirmed it was in recession and a raft of grim data suggested worse lay around the corner.</p><p>A steep interest rate cut by ...
<div><p>European stock markets rose on Tuesday, shrugging off sharp losses across Asia and a day earlier on Wall Street, as a record fall in eurozone producer prices raised expectations of a sharp ECB rate cut, traders said.</p><p>Heading into afternoon trade, London rose ...
<div><p>The US private sector lost 250,000 jobs in November, the largest decline in six years, in a further indication of a tightening labor market amid recession, according to a private payrolls report Wednesday.</p><p>The job loss was again driven by the goods-producing sector, ...
<div><p>Economic activity weakened across the United States over the past several weeks with most sectors facing pressure, the Federal Reserve said in its Beige Book report Wednesday.</p><p>The report, to be used by Fed policymakers for their December 15-16 meeting on interest rates, ...
<div><p>The US economy lost a stunning 533,000 jobs in November and the unemployment rate jumped to a 15-year high of 6.7 percent, the Labor Department said Friday.</p><p>President-elect Barack Obama called for an "urgent" effort to put people back to work and to ...
<div id="subtitle">Ad forecaster further reduces 2008 projections, expects mild recovery late next year</div><div><p>A leading advertising forecaster lowered expectations for ad growth in 2008 for the second time in two months, but said Monday that a mild recovery should begin late next year.</p>< ...
<div><p>US economic activity contracted at a 0.5 percent pace in the third quarter, according to government data unrevised from an estimate last month.</p><p>The Commerce Department final estimate on gross domestic product (GDP) for the July-September quarter is believed to be the start ...
<div><p>The US housing market, the epicenter of the global financial crisis, saw further declines last month, according to fresh data Tuesday suggesting the worst may not be over for the economy.</p><p>New home sales slipped 2.9 percent in the past month and fell ...
<div><p>It is always reassuring to get official confirmation of the obvious. The National Bureau of Economic Research declared earlier this month that the United States has been in recession since December 2007.</p><p>In the first half of 2008, there weren't many economists who ...
<div id="subtitle">Economy shrinks in third quarter as consumers retrench by most in 28 years, sign of recession</div><div><p>The economy jolted into reverse during the third quarter as consumers cut back on their spending by the biggest amount in 28 years, the strongest signal ...
