PIMCO’s El-Erian Calls U.S. Economy ‘Terrifying’
In the wake of failed deficit supercommittee negotiations, Mohamed El-Erian appears to be upping his rhetoric, telling Bloomberg Television that U.S. economic conditions are “terrifying” given that the nation is coming out of recession.
Winning and Losing States of America
The economic laboratories at work in the 50 states have produced disparate results according to new government data, and experts say the success of states like North Dakota and Utah and poor performance of Michigan and Nevada have national implications.
News Analysis: Are We in a Recession?
Consumer confidence plunged to two-year lows in August, stoking predictions and outright declarations that the economy has slipped into recession. The latest Consumer Confidence Index reading of 44.5 is lower than the 53.9 average for the 2007-2009 recession.
Personal Spending Surges Even as Confidence Sinks: News Analysis
What matters more: consumers’ actual spending or an intangible general mood based on survey data?
No Sign of QE3 From Bernanke as GDP Drops, Markets Rise
Markets rose Friday after Fed Chairman Ben Bernanke said he was 'optimistic' about the U.S. economy in a speech at Jackson Hold, Wyo., and signaled that the Fed had no plans for a third round of quantitative easing.
Real Estate Rebound? Weak Housing Data Hides Seeds of Hope, Analyst Says
While this week has produced mostly grim news in the housing sector, a top real estate industry consultant offers a far more encouraging big-picture view of the key economic sector.
Home Building Slips in July, Leaving Construction Depressed
The Commerce Department said Tuesday that builders began work on a seasonally adjusted 604,000 homes last month, a 1.5% decrease from June.
Global Recession Fears Revive Amid Dismal Economic Reports
Manufacturing activity is grinding to a halt in all three of the world's economic engines—the U.S., Europe and China—stoking fears of a new recession.
GDP Growth in Q2 Is Feeble 1.3%
The economy grew 1.3% in the second quarter, according to Commerce Department figures released Friday. The pace was below private-sector expectations of 1.8% growth. Compounding the disappointing numbers, first quarter GDP growth was revised sharply from 1.9% to 0.4%.
Markets Spooked by Two Dreary Signals: Debt, Durables
It is the forward-looking nature of two key indicators that appears to be weighing on stocks. Declines in durable goods orders mean less manufacturing down the road, and a failure to get a debt deal means the two parties are so at odds they are willing to hold creditors hostage.