The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes.
The Commerce Department’s report Thursday delivered the strongest signal yet that the economy entered a new, though fragile, phase of recovery and that the worst recession since the 1930s has [...]
Posts Tagged ‘recession’
Economy grows in 3Q, signals end of recession
October 29th, 2009 by Financial Writer
Tags: businesses, consumers, economy, recession, unemployment
more...Patrick economic summit aims to kickstart Mass
October 27th, 2009 by Financial Writer
Massachusetts will consider a fund to provide capital to small- and medium-sized businesses, Gov. Deval Patrick announced Tuesday as he closed a one-day summit with government and business leaders.
The Democrat also said he would explore ways to provide strategic advice to smaller businesses, whose growth could play a pivotal role in the state’s recovery from [...]
Tags: business, businesses, economic, recession
Russia out of recession as economy grows in Q3
October 26th, 2009 by Financial Writer
Russia technically emerged from recession in the third quarter after official data on Monday showed economic activity grew 0.6 percent from the previous three months — the first quarterly rise since the crisis struck a year ago.
Despite the increase, gross domestic product was still 9.4 percent below year-earlier levels, underscoring the amount of damage the [...]
Tags: economic, economy, increase, recession, russia
Dollar falls to 14-month euro low
October 15th, 2009 by Financial Writer
The dollar hit a 14-month low against the euro Thursday on fears that US interest rates would remain super-low for a long time and as a stock market rally sparked appetite for riskier assets, traders said.
At 0615 GMT, the European single currency reached 1.4968 dollars, the highest level since August 2008. The euro later pulled [...]
Tags: borrowing costs, dollar, investors, recession, unemployment
Business travel survey shows budgets for 2010 remain tight
October 13th, 2009 by Financial Writer
Matt Bush, a human resources executive, estimates his travel budget will jump 30% in 2010.
During any other year, that might signal a business boom. But few things seem normal in a year when the travel industry has been turned upside down by companies severely cutting back.
Bush’s double-digit increase will follow a 50% cut in his [...]
Tags: business, business travelers, recession, travel industry
U.S. must lead global economic recovery
October 12th, 2009 by Financial Writer
U.S. Secretary of State Hillary Clinton, visiting recession-bound Ireland, said on Sunday the United States was working hard to fix its own economy so it could propel growth in the rest of the world.
“We’re very conscious of the fact that the United States must right its own economic boat in order to lead the global [...]
Tags: economy, global crisis, global economic, recession, united states
Aug. trade deficit narrows unexpectedly to $30.7B
October 9th, 2009 by Financial Writer
The U.S. trade deficit unexpectedly narrowed in August as exports posted a small gain, while imports fell on a big drop in demand for foreign oil.
The Commerce Department said Friday that the trade deficit declined 3.5 percent to $30.7 billion, surprising economists who had expected higher oil prices to push the imbalance to $33 billion. [...]
Tags: economists, exports, Global Economy, obama, oil, recession
U.S. still seen in recession, may last until 2010
October 7th, 2009 by Financial Writer
U.S. finance executives believe the American economy is still in recession, despite signs growth may have resumed in the third quarter, a survey showed on Tuesday.
The survey conducted by the Association for Financial Professionals also showed that many executives in the financial sector did not expect their organizations to resume hiring or capital spending in [...]
Tags: bank, economic, economy, finance, lending, recession
Investors brace for a rocky ride
October 5th, 2009 by Financial Writer
The stock advance has hit some resistance in the last two weeks and it’s only going to get tougher as the third quarter reporting period gets underway.
Since hitting rally highs nearly two weeks ago, the broad S&P 500 index has lost 4.3% as investors have sorted through a spate of manufacturing, consumer and jobs reports [...]
Tags: employers, investors, monetary, recession, unemployment
Skittish stock investors sit out while bull market runs
October 1st, 2009 by Financial Writer
With the money-losing memories of the financial crisis still fresh in their minds, investors are having a tough time embracing the new bull born in early March.
Despite the best back-to-back quarters of gains since 1975 for the U.S. stock market and a 56.2% rise in a 6 1/2-month span, many investors are questioning whether the [...]
Tags: financial crisis, investors, money, recession, wall street