China vows to make its currency more flexible after US criticism

SHANGHAI: China on Wednesday pledged to make its exchange rate more "flexible", a day after the United States said the yuan was undervalued, though it declined to name Beijing a currency manipulator.

Obama tries to fill Fed board - again

EW YORK (CNNMoney) -- Contentious politics have left the Federal Reserve's Board of Governors operating without a full roster for more than five years. Now, President Obama will again try to fill the board's two open seats.

Economy: Faster U.S. growth predicted for 2012

Washington -The U.S. economy will grow faster in 2012 - if it isn't knocked off track by upheavals in Europe, according to an Associated Press survey of leading economists.

Local economic officials say outlook brighter for 2012

Statesville officials are hopeful that 2012 will bring the same steady economic recovery as the previous year.

Economic recovery slow for nonprofits

As the first signs of an economic recovery make the news, many of the nation's nonprofit organizations are digging in for another three to four years of financial distress, according to researchers who keep an eye on the charitable world.

UK economic growth revised up to 0.6%

The UK economy grew by 0.6% between July and September, official figures have shown, faster than previous estimates of 0.5%.

US economic growth to remain slow in 2012: Experts

The US economy is projected to grow at a slow pace because of ongoing challenges, American experts said on Monday.

Jump in housing starts points to recovery

(Reuters) - Housing starts and building permits jumped to a 1-1/2 year high in November as demand for rental apartments rose, suggesting the housing market was entering a tentative recovery.

Analysts Say Economic Recovery Might Suffer if Tax Break Is Allowed to Expire

WASHINGTON — Economists are warning that the looming expiration of a temporary payroll tax cut — and the possibility that Congress will not extend it — would cause families to spend less and could sap strength from a fragile recovery.

New Data Offers Some Positive Signs for the Recovery

WASHINGTON (Reuters) — The number of Americans filing new claims for jobless benefits fell to a 3 1/2-year low last week, and factory activity in parts of the Northeast gained speed in December, suggesting a further strengthening of the economic recovery.

Bernanke worries Europe's woes will spill into U.S.

WASHINGTON (CNNMoney) -- Federal Reserve Board Chairman Ben Bernanke told Republican senators on Capitol Hill on Wednesday that he's concerned about European sovereign debt problems spilling over to the U.S. economy, according to senators.

US economy to continue its slow, uneven recovery over the next few months: CEOs

Chief executives expect the US economy to continue its slow, uneven recovery over the next few months and are concerned about the rising costs of raw materials and the expense of complying with regulations, according to a survey released Wednesday.

Confidence Among German Investors Unexpectedly Rose in December: Economy

German investor confidence unexpectedly rose for the first time in 10 months in December, indicating Europe’s largest economy is weathering the region’s debt crisis.

Gold Prices Struggle to Stay Near $1, 700

Gold prices fell Wednesday on negative economic news from China and Europe plus concerns that the world's No. 1 economy is barely advancing.

Consumer sentiment up, trade gap narrows

(Reuters) - An index of consumer sentiment rose to its highest in six months in early December and the trade deficit narrowed in October in the latest signs that the U.S. economy's health is slowly improving.

EU Leaders Forge Fiscal Pact

BRUSSELS—European Union leaders Friday agreed to forge ahead with a new deal on economic governance without the support of the U.K., but they again balked at marshalling the large sums experts believe will be necessary to ensure financing for Italy and Spain and prevent a collapse of the euro zone.

Economic forecast: Job growth could double in 2012

PHOENIX — Arizonans waiting for that long-promised economic recovery are going to have to cool their heels for a few more years.

USC forecast: Economy still fragile, but more jobs

COLUMBIA, S.C. (AP) — South Carolina's economy is stable but will remain fragile through the coming year, with employment expected to inch upward 2 percent, University of South Carolina economic experts said Wednesday.

Experts predict slow economic recovery

Employment is the factor that drives the economy, and based on the latest labor and housing statistics, it will be some time before there is a long-term rebound, a panel of experts told attendees of a Business Council of Fairfield County breakfast Friday at the Sheraton Stamford Hotel.

Nevada leaders predict economic recovery, unemployed disagree as work force shrinks

LAS VEGAS — Donna West could once name the homeowners on her affluent Las Vegas street. Then came the recession, the vacant homes, and the parade of anonymous renters.

Croats Vote Fixed on Economic Recovery, Corruption Fight

Dec. 4 (Bloomberg) -- Croatians voted in an election likely to replace Premier Jadranka Kosor with an opposition bloc that will have to adopt economic changes and root out graft to lead the country out of a recession and into the European Union.

Economic insecurity rising, new indicator shows

More than one in five Americans experienced economic insecurity during the recession, meaning they had an economic loss without an adequate safety net to replace that loss, according to a new report from the Rockefeller Foundation. The report also found that economic insecurity has been rising since even before the recession.

Payroll tax cuts key to recovery: White House

WASHINGTON (Reuters) - Allowing payroll tax cuts to expire would hurt the U.S. economy and further dent hiring, and may make the United States more vulnerable to outside shocks, President Barack Obama's top economist said on Tuesday.

Europe stocks soar on hopes for debt-crisis action

MADRID (MarketWatch) — European stock markets soared on Monday after media reports indicated that the region’s leaders were making progress in addressing the region’s debt crisis.

Germany, France press coercive euro zone debt rules

BERLIN/BRUSSELS (Reuters) - Germany and France stepped up a drive on Monday for coercive powers to reject euro zone members' budgets that breach EU rules, as a market rout of European debt eased temporarily on hopes of outside help for Italy and Spain.

BCC Cuts U.K. Economic Growth Forecasts, Sees Recession Risk

Nov. 28 (Bloomberg) -- The British Chambers of Commerce cut its U.K. economic growth forecasts and said the risk of another recession “cannot be shrugged off,” predicting the Bank of England will add to its bond-purchase plan early next year.

Stocks fall on spread of Europe debt woes to Belgium

NEW YORK (AP) – Stocks edged most lower in a shortened trading session Friday as the major indexes ended their worst week since September.

Economy Forward: The Prospect of Recovery

It's probably safe to say most Americans feel mired in the mess of the Great Recession. Families and small businesses continue to struggle.

Do UK banks face another mis-selling scandal?

Are Britain's banks on the cusp of another mis-selling scandal?

No Relief for Europe's Bonds

A selloff in euro-zone bonds continued on Monday, as investors shrugged off the election of a fiscally conservative government in Spain and continued to clamor for bold action by European policy makers.

Economists See Modest Growth Next Year

The U.S. economy will muddle through the next year without a recession, but growth will be too weak to make much of a dent in the unemployment rate, forecasters believe.

Slow Economic Recovery Expected For Hawaii

HONOLULU -- Hopes for a faster recovery are being dampened by the worldwide economic woes. But the good news is, Hawaii's economy is expected to see some growth.

Forecast: New England faces slow economic recovery

New England will continue to experience a slow economic recovery until well into 2013 due in part to weaknesses in the national and global economies, an economic forecaster said Thursday.

Blinder discusses solutions to worldwide economic ‘mess’

Economics professor Alan Blinder ’67 presented a public lecture on the economic downturn and potential recovery on Monday night titled “Storm Clouds Rising: Are There Ways Out.”

Japan economy expands for first time in 4 quarters, but boom already slowing

TOKYO — Japan’s economy grew for the first time in four quarters in a comeback from the earthquake and tsunami disaster that already faces multiple global headwinds.

Global Office Value, Rent Growth Slows on Economic Uncertainty, CBRE Says

A recovery in global office values and rents is slowing as sovereign debt concerns in Europe and lingering economic worries in the U.S. take their toll on investors around the world, according to real estate services firm CBRE Group Inc.

Spain's feeble recovery falls flat before election

Spain's feeble economic recovery petered out in the third quarter of 2011, official figures showed on Friday, stoking recession fears just nine days before a general election.

Europe's economy on verge of recession

Europe is dangerously close to falling into another recession as economic growth has all but come to a standstill, the European Union said Thursday.

Silvio Berlusconi vows to resign as Italy's prime minister

ROME - Italian Prime Minister Silvio Berlusconi is to resign after parliament passes crucial economic reforms aimed at stabilizing Italy’s economy.

Silvio Berlusconi humiliated in parliamentary vote

Italian Prime Minister Silvio Berlusconi suffered a huge humiliation in parliament today in a vote that indicated he no longer had a majority and ratcheted up pressure for him to resign.

‘To big to fail’ banks named

At the Cannes summit of the world’s leading economies, 29 banks have been named as being so important to the global financial system that they are likely to need to hold more capital reserves than their rivals.

Wall Street Set to End the Week Down

Stocks were lower in Europe and on Wall Street on Friday as the Group of 20 nations ended a summit meeting with little apparent headway in resolving Europe’s debt crisis.

Greece Blinks on Euro Threat

Greece's leadership struggled to restore political stability to the country and safeguard its membership in the euro zone, as global powers gathered in France looked for ways to halt the spiraling European debt crisis.

MF Global chief Corzine won't see golden parachute

MF Global head Jon Corzine is technically eligible to get a $12 million compensation package if he leaves the firm, but analysts say he'll be at the bottom of a long list of people trying to get money from the bankrupt company.

The Global Note: Athens, We Have A Problem…Drinking Fukushima Water…the Babushka Contest

Just when we thought the Euro-mess had been dealt with, or at least contained after last week’s deal on a Euro-bailout, now comes a thunderbolt from Athens.

Saying goodbye to your bank

Bank of America's recent move to slap customers with a $5 monthly fee to use their debit cards has unleashed a torrent of ill will against the nation's financial giants. Fed up with enriching executives and shareholders, some account holders are vowing to shift their business to smaller banks or neighborhood credit unions.

Americans spending more with income almost flat

Americans are making a little more money and spending a lot more.

U Mich. Consumer Sentiment Unexpectedly Rises

Consumer confidence unexpectedly rose in October from the previous month, indicating the biggest part of the economy will help keep the U.S. recovery intact.

Nuplex buys German resin firm for $129m

Resins maker Nuplex Industries said today that the newly-acquired Viverso GmbH would make a positive contribution to its earnings in the current financial year to June 30, 2012.

Consumers, businesses pump up Q3 growth

 The economy grew at its fastest pace in a year in the third quarter as consumers and businesses stepped up spending, creating momentum that could carry into the final three months of the year.

Euro zone business activity shrinks further

The euro zone’s private sector slipped further into decline in October.

Viewpoint: Greece should default and abandon the euro

Jeffrey Miron, senior lecturer in economics at Harvard University, believes that the consequences of a Greek default are overstated. Not only would a default be better for Athens, it would have benefits for Europe too, he argues.

New anti-capitalist camp opens as the St Paul's protesters defy Dean

If worshippers hoping to attend services at St Paul's thought the anti-capitalist protests outside would be short-lived, their prayers have not been answered.

You can't build economic recovery on phantom jobs

Before his American Jobs Act failed to pass a Senate cloture vote last week, President Barack Obama made a last-ditch speech to talk up his troubled bill. Not once did Obama mention "green jobs" - his erstwhile jobs of the future.

Smart move. Obama's 2009 $787 billion stimulus package included $500 million for training programs that were supposed to create green jobs for thousands of middle-class Americans. Last month, however, the Department of Labor's inspector general conducted an audit that found that as of June 30 - with one-third of the funds spent and more than 50,000 participants - only 10 percent of trainees were placed in jobs. And only 1,336 participants, or 2 percent, had held jobs for six months or longer.

Express Train to NY Economic Recovery?

New York, NY (New York News Connection) - The light at the end of New York’s dark economic tunnel might be a train – carrying recovery in the form of mass transit manufacturing in New York factories, according to one group of experts.

The report, assembled by union strategists and economic-policy analysts, calls for replacing some of a decade’s worth of lost manufacturing jobs by investing in building and repairing rail and subway cars and buses. That way, says report co-author Brian Lombardozzi, the people who ride mass transit can be the people making it.

Mervyn King: UK economic recovery has "gone off track"

The Governor of the Bank of England defended the Monetary Policy Committee’s (MPC) decision to introduce a further round of quantitative easing (QE) in a speech in Liverpool yesterday.

Sir Mervyn King said that the problems in the eurozone meant the UK recovery has fallen off track. Sir Mervyn said that the resumption of QE was justified because it will now take longer to return the economy, public finances and interest rates back to normal levels.

U.S. Stocks Slump as Germany Damps Optimism on Crisis Solution

U.S. stocks declined, after the biggest weekly gain in the Standard & Poor’s 500 Index since 2009, as financial shares slumped and the German government damped optimism of a quick fix to Europe’s debt crisis.

Banks in the S&P 500 tumbled 6.3 percent as a group. Citigroup Inc. (C) and Wells Fargo & Co. (WFC) slipped at least 1.6 percent as revenue dropped amid economic weakness and market turmoil linked to Europe. Alcoa Inc. (AA) and Caterpillar Inc. (CAT) retreated more than 3 percent to pace losses among companies most-tied to the economy. Gannett Co. sank 8.7 percent after profit fell as newspaper advertising declined.

Japan's Furukawa: sees economic recovery continuing

Oct 17 (Reuters) - Economics Minister Motohisa Furukawa said on Monday that he expects Japan's economic recovery to continue although it faces several risks, including struggling overseas economies and a strong yen that is dragging down corporate revenue and exports.

"Output is continuing to recover," Furukawa told a news conference after the government released its monthly economic report.

Signs of economic recovery

Over the past few years, you have often heard me talk about the fact that Canada’s economic recovery remains fragile.

Scary examples of what could have happened as a result of overspending can be seen in Europe and even closer to home.

US currency bill endangers global economic recovery

BEIJING: The Currency Exchange Rate Oversight Reform Act of 2011, a bill passed by the US Senate on Tuesday that will push China to revalue its currency, may spawn a trade war between the two nations and endanger global economic recovery; Xinhua News reported what economic analysts said.

The controversial bill, which calls for punitive tariffs on countries with allegedly misaligned currencies, noticeably the Chinese Renminbi or yuan, was passed in a vote of 63-35 at the Senate.

Economic recovery: What Washington should have done

It’s time to admit something: The economy is not recovering. It is, if anything, unrecovering.

We’ve added an average of 119,000 jobs a month since January. That’s better than the 78,000 new jobs the economy averaged per month in 2010. But it’s barely enough to keep up with population growth. It’s not nearly enough to cut into the unemployment rate. And over the past three months, it has fallen to 96,000 per month.

Warren Buffett on Stock Buybacks, Economic Recovery and Europe

Only buy back shares when they are selling at a discount to intrinsic value, and intrinsic value is not the precise figure, it’s a guess. Sometimes people try to buy back stocks just to pop up the stock performance in the short run. But who knows what the motivations are? There is only one motivation for Buffett. If he knows he could buy the business at a discount, it would be beneficial for shareholders. And he thinks if anybody wants to buy back stock, he/she should tell the partners before that.

UK economic growth slower than previously thought

The UK economy grew by 0.1% between April and June, less than the 0.2% estimated previously.

Output from the service sector grew by 0.2%, compared with the previous estimate of 0.5%, the Office for National Statistics (ONS) said.

However, industrial output fell by less than previously thought.

U.S. economic recovery tied to European debt crisis

The political intrigues in Brussels and Berlin over Europe’s debt crisis are as foreign to most Americans as the languages spoken there. U.S. exports to Europe don’t even amount to a fiftieth of what Americans produce. And American banks have at best a modest toehold in the European countries facing possible default.

But the waves of anxiety caused by the European debt crisis are taking a significant toll on the United States — not just palpitations in financial markets but darkening prospects for the broader U.S. economy.

Tobin tax poses even greater threat to economic recovery of the member states than anything else

The banks got us all into this mess so I know what we’ll do; we’ll slap a tax on every single financial transaction. That’ll teach them to trade risky products and threaten the global economy with collapse again in the future.

The Tobin tax proposed by the President of the European Commission is probably an even greater threat to the economic recovery of its member states than anything else and risks driving vast amounts of taxpaying businesses that employ millions of Europeans out of Europe. Whilst it’s not clear exactly how the whole thing will work as it stands it could conceivably be that every bond, share, FX, commodity and any other asset class deal transacted will have a tax added to it, possibly even our very own spread bet and CFD transactions. The cost of dealing would soar and it would affect all exchanges, inter dealer brokers, banks, stock brokers, and FX brokers (to name but a few) in the whole of the eurozone. The resultant loss in tax gleaned from these firms due to lower revenues or even simply because they relocate could conceivably dwarf the tax generated. If politicians are still hell bent on gaining the populist vote by being seen to be tough on the banks then surely it’s the banks they should be targeting and not every single institution that facilitates a financial transaction

HOAGLAND: No economic recovery with Obamacare

Small businesses can’t grow while federal mandate threatens

To satisfy the enduring public judgment that Obamacare will harm the nation, there are three paths to repeal: Congress, the courts and the ballot box. The White House has signaled a willingness to expedite resolution by the Supreme Court of the constitutional question at the same time that it ignores or downplays those remedies available to the citizenry.

Job creation critical for economic recovery: Finley

OTTAWA — Canada's human resources minister says her G20 counterparts agree job creation must be front-and-centre in economic recovery plans.

Diane Finley has wrapped up two days of meetings with her counterparts in Paris.

She says there is an urgent need to link economic recovery with jobs and particularly with jobs for young people.

Sales of new U.S. homes dip in August

WASHINGTON (MarketWatch) — The sale of new single-family homes fell in August for the fourth month in a row, indicating that the depressed U.S. housing market shows no signs of recovery.

Sales dropped 2.3% last month to an annual rate of 295,000, the lowest level since February, the Commerce Department said Monday. After peaking in 2011 at 316,000 in April, new-home sales have gradually declined.

U.S. wheat outlook: Seen up as dryness supports price recovery

CHICAGO (Dow Jones)--U.S. wheat futures are expected to start higher Monday as concerns about dryness reducing global output help prices rebound from two-month lows.

Traders predict soft red winter wheat for December delivery, the most actively traded contract, will open up one cent to three cents a bushel at the Chicago Board of Trade. In overnight electronic trading, the contract ended up 1 3/4 cents, or 0.3%, at $6.42 1/2 a bushel after dropping as low as $6.24 1/4 a bushel.

Obama Says Better Public School System Key to Economic Recovery

Sept. 24 (Bloomberg) -- President Barack Obama said improving the nation’s public schools is crucial to the U.S.’s economic recovery as he highlighted his decision to let states sidestep the No Child Left Behind law by raising education standards.

“Education is an essential part of this economic agenda,” the president said today in a weekly radio and Internet address that urged Congress to pass his $447 billion jobs plan that includes money for teachers and schools. “It is an undeniable fact that countries who out-educate us today will out-compete us tomorrow. Businesses will hire wherever the highly skilled, highly trained workers are located.”

David Cameron's treatment risks killing the patient

The economy needs more spending, not less.

On the eve of last weekend’s IMF meeting in Washington, David Cameron was waxing lyrical on the need to boost economic recovery by reducing deficits. Yet this treatment is at serious risk of killing the patient.

There seems to be a widespread lack of appreciation of the difference between the economics of a household and a country. A household can improve its financial position either by increasing its income or by cutting its expenditure. But this isn’t true for the economic system as a whole. For when you reduce your expenditure, you also reduce somebody else’s income. What’s more, they may then reduce their spending, thereby reducing somebody else’s income, and so on and so forth. The key point is that to achieve economic recovery, someone, somewhere has to spend more. This is not an economic hypothesis. It is a matter of logic.

Economic recovery has begun in Northern Colorado

The Northern Colorado Business Report Monthly Growth Rate was strongly positive in July, the result of a doubling of institutional construction commitments in Larimer County, specifically at colleges and universities. The growth rate was also positive in May and June after being negative for most of the first part of the year. It would appear that economic recovery has started in Northern Colorado.

The Index of Economic Growth in Northern Colorado also jumped up in May, June and July. July was well above levels reached early in 2010. The July rate of growth cannot be maintained, but I do expect slow, moderate growth to occur in the Northern Colorado economy.

Is Ford (F) CEO Alan Mulally, Right About An Economic Recovery?

With so much turmoil surrounding the stock market this week, a lot of investors are left scratching their heads and wondering if the U.S. economy is really in recovery, or if a double-dip recession is looming on the horizon.

According to Alan Mulally, CEO of Ford Motor (F), people should try to relax a little and accept that the economy is definitely in recovery, but it will be a long process that requires a bit of patience on everyone's part. When asked in a recent interview about his view on the economy, Mulally stated that "we're generally on the right track", but went on to say that it was going to a prolonged process and that it will be a slower recovery than we have ever had.

IMF Chief: Government Debt Could Stifle Economic Recovery

The head of the International Monetary Fund says economic recovery is still possible, but it is getting harder. In Washington, IMF Managing Director Christine Lagarde said Thursday that troubled economies have fewer resources now than at the start of the 2008 financial crisis.

Lagarde said the world economy is in a dangerous phase and that countries could use the cooperative spirt that helped major economies take action at the height of the financial crisis.

New construction industry alliance to foster economic recovery launched in Liverpool

A NEW alliance putting the construction and engineering sectors at the heart of the region’s economic recovery is being launched in Liverpool.

The North West Construction Industry Alliance will be inaugurated at the annual debate and dinner of the Civil Engineering Contractors Association at the city’s Crowne Plaza hotel tomorrow.

Nick Clegg: economic recovery will be a long hard road

There is a ''long, hard road ahead'' for the British economy, Deputy Prime Minister Nick Clegg will admit today as he closes the Liberal Democrat conference.

The International Monetary Fund's decision to downgrade the UK's growth forecasts has heightened fears of a double dip recession, and Mr Clegg will acknowledge the recovery is ''fragile''.

New Construction Data Indicate Stagnation in Economic Recovery, Says Covendium

New home construction was down 5% in August, according to a new report by the Department of Commerce. The data indicate full economic recovery is still out of reach, as new home construction has historically been an important factor in post-recession economic growth. The commercial sector is also lagging-the newest Dodge Index report indicates nonresidential construction starts fell 6% from June to July. Covendium, the nation's largest debtor-side commercial debt restructuring and advisory firm, says the economy cannot fully recover without a significant jump in new construction rates.

Obama Pledges ‘Coordinated Action’ With Allies to Sustain Global Recovery

President Barack Obama used the annual meeting of the United Nations General Assembly to press leaders, in public and private, to take “coordinated action” to prevent the world’s economy from slipping into a recession.

As a bid by Palestinians for United Nations recognition dominated discussions at the world body in New York, Obama conferred with French President Nicolas Sarkozy, U.K. Prime Minister David Cameron and Japanese Prime Minister Yoshihiko Noda on finding a way to sustain a fragile recovery amid the European debt crisis and sluggish U.S. growth.

Greek default, new crisis essential for Europe's economic recovery

Greece is on the verge of bankruptcy. This week, European Commission experts will arrive in Greece to work with its government on a new set of to help the country meet the criteria for receiving another bailout from the European Financial Stability Facility (EFSF) and the International Monetary Fund (IMF). But there is little hope that financial aid can save Greece. The German government is already analyzing scenarios of a Greek default, which many experts consider inevitable. Meanwhile, Christian Lindner, the general secretary of the Free Democratic Party of Germany (FDP), said on Sept. 12 that he does not rule out Greece's withdrawal from the eurozone.

Seaports: A key to economic recovery

President Obama’s recent speech outlining his plan for the American Jobs Act focused on several tactics that he believes will put people back to work and get our economy back on track. However, as the U.S. continues to confront the need for both economic austerity and job creation for the 9.1 percent of unemployed Americans, one of the nation’s oldest and largest economic drivers – seaports – continues to be overlooked.

By increasing our investment in America’s seaports, we can create high-paying, sustainable jobs that will put Americans back to work. Just last year, U.S. exports supported an estimated 9.2 million jobs. This means that for every $1 billion of exported goods,more than 5,000 jobs are supported.

BOJ's Miyao Highlights Risks for Japan Recovery

TOKYO—Bank of Japan policy board member Ryuzo Miyao said on Wednesday that the central bank will take action if necessary to stop downside risks from undermining the nation's economic recovery, bolstering the view that the BOJ may soon take further easing steps to counter the impact of the strong yen and slowing overseas demand.

"I hope the powerful recovery, mainly in production, will continue after the autumn, but there are several uneasy factors," which include the possibility of slower overseas demand, the yen's stubborn uptrend, potentially higher electricity costs and expectations for prolonged deflation, Mr. Miyao told business leaders in Hakodate, northern Japan.

Is Government deluded over economic recovery?

It was never going to be an easy task to recover from the last economic downturn.

And now, it seems, that the UK Government is facing an even tougher challenge to avoid being dragged into a second - so-called double-dip recession - due to global events beyond its control.

The US economy and the increasingly desperate plight of the euro zone are wrecking global economic growth opportunities.

Global Interest Rate announcements this week

What are the stories behind the interest rate announcements this week?

With the fear of rising inflation having been replaced by the reality of economic stagnation across North America, Europe and certain parts of Asia we take look at the economies of the five different economic zones who announced their latest interest rates this week.

Australia's economy grows by 1.2% in the second quarter

Australia's economy bounced back in the last quarter as it looked to recover from earlier floods and cyclones.

Gross domestic product (GDP) rose by 1.2% in the three months to the end of June from the previous quarter, the statistical bureau said.

That compares with a contraction of 0.9% in the first three months of the year.

Shares fall on eurozone debt and world economy fears

US and European shares have both fallen as concerns continue about the high level of eurozone debt, as well as the risk of a return to recession on both sides of the Atlantic.

Wall Street's main Dow Jones index was down 1.9%, while France's Cac fell 1.1% and Germany's Dax closed 1% lower.

In London, the FTSE 100 index bucked the trend, rising 1.1%.

Key to economic recovery: higher wages

This summer we’ve seen wild swings in the stock market, a last-minute debt deal, and even a rocking east coast earthquake. But one thing we haven’t seen – from Memorial Day to Labor Day – is any improvement in the economy.

There are 14 million Americans officially counted as unemployed -- many of them for over six months. If you count people who have given up looking for work, the number of Americans out of work climbs to over 17 million. Even people fortunate enough to keep their jobs have seen wages frozen or even cut. Families across the country are struggling to make ends meet.

Sweden's economic recovery slows to a halt

Sweden, which had one of the strongest economic growth rates in Europe until a month ago, has hit the buffers with strong recovery from the 2008-2009 crisis grinding to a halt, the National Institute of Economic Research (NIER) said on Wednesday.

"The recovery in the world economy has slowed to a halt, and so has economic recovery in Sweden," the institute cautioned in a statement.

Jobs recovery continues to sputter

NEW YORK (CNNMoney) -- Don't look to August for a robust jobs recovery. According to a report out Wednesday, the U.S. economy added jobs during the month, but not nearly at the momentum seen earlier this year.

Private sector employers added 91,000 workers in August, down from the 109,000 jobs added in July, payroll processing firm ADP reported.

Market turmoil threatens recovery: European Union

BRUSSELS: The recent turmoil on financial markets threatens economic recovery in the European Union, the bloc's top economic official said today.

The warning from EU Monetary Affairs Commissioner Olli Rehn came after a turbulent summer for markets across the globe, as investors worried about a potential new recession in the United States, the eurozone's ability to resolve its debt crisis and the health of European banks.

Libya crisis: a decade to rebuild Libya, says NTC

Rebuilding Libya's infrastructure will take at least 10 years, according to the head of the Libyan Stabilisation Team at the country's National Transitional Council (NTC).

Libya's infrastructure was in a poor state even before the revolution due to "utter neglect", the head of the team, Ahmed Jehani, told the BBC.

Britain's recovery begins to slow down

by Adrian Roberts

Britain's economic recovery slowed in the second quarter of 2011 after official figures estimating GDP growth of 0.2 per cent were unrevised today.

The downturn, which followed the biggest fall in activity for manufacturing and other production industries in two years, was down on the 0.5 per cent increase in the previous quarter, the Office for National Statistics (ONS) said.

Stocks recover after Bernanke predicts US growth

By DAVID K. RANDALL

Stocks rose in afternoon trading Friday after Federal Reserve Chairman Ben Bernanke said the U.S. is on track for long-term economic growth. Trading volume was light, a sign that many traders were taking steps to leave the New York area ahead of an approaching hurricane.

Bernanke left open the possibility of more action by the Fed if another recession looks likely. But he announced no new economic stimulus measures during his speech at a conference in Jackson Hole, Wyo.

The un-recovery

THE Bureau of Economic Analysis just released its second estimate of GDP growth for the second quarter, and the pace of expansion was revised down, from 1.3% to 1.0% (a bit worse than the revision to 1.1% that was expected). The 0.4% first quarter growth estimate wasn't changed, which means that for the first half of 2011 the American economy expanded at a 0.7% pace. That's below the rate of population growth, which is to say that in per capita terms output continues to shrink. So how are things looking forward? Will consider the BEA's take on the improvement in the economy from the first quarter to the second:

The acceleration in real GDP in the second quarter primarily reflected a deceleration in imports, an upturn in federal government spending, and an acceleration in nonresidential fixed investment that were partly offset by decelerations in PCE and in exports and a downturn in private inventory investment.

Goolsbee: Outside Factors Marred US Economic Recovery

By Hiram Reisner

Former White House economic adviser Austan Goolsbee reiterated the contention Thursday that outside factors strongly contributed to a standstill in America’s economic recovery.

“In the year 2010 . . . we were growing,” Goolsbee told Fox News’ Sean Hannity. “Now, at the beginning of this year, we get earthquakes, tsunamis, revolutions in the Middle East, European financial crises — I mean, we’ve got a series of things that have put some heavy blows and slowed the economy back down again.

Las Vegas sees no immediate economic recovery

LOS ANGELES, Aug. 24 (Xinhua) -- Las Vegas, known as the Entertainment Capital of the World, has suffered seriously from the recession and it sees no immediate recovery.

Unemployment in Las Vegas rose from 13.8 percent in June to 14 percent in July, while joblessness statewide jumped from 12.4 percent to 12.9 percent, according to Nevada's Department of Employment, Training and Rehabilitation. It was the second straight month of unemployment increases after several months of declines.

Potential impct of US 'Double Dip' on global economic recovery

Aug 25 - Fitch Ratings has published a new report exploring the simulated effects of a hypothetical 'double dip' recession in the US on the global economic recovery, where US growth falls to 1% in 2011, negative 0.6% in 2012, and 1.5% in 2013.

As a result of official data revisions and a raft of weak economic indicators, Fitch recently lowered its forecasts for US growth to 1.8% in 2011 (from 2.6%) and 2.3% in 2012 (from 2.8%).

Housing Market Stability Key to Economic Recovery-NAR

To help develop policies that will stabilize the nation’s housing market and support an economic recovery, the National Association of Realtors® urges the White House to host a summit of policy makers, industry leaders and government stake holders focused on revitalizing the nation’s housing.

“As the leading advocate for housing issues, Realtors® know that home ownership supports our nation’s economy,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “Housing and home ownership issues affect all Americans, which is why we need strong policies that will help stabilize the housing market and lead the way out of today’s economic struggles.”

What is the President's economic recovery plan?

Home sales are at an all time low, but prices for groceries, school supplies and basic necessities like power and gas are going up. Our economy remains extremely fragile, with signs of continued weakness. The economy is not generating enough jobs and unemployment remains above nine percent. The stakes couldn’t be higher. Now, more than ever, the American people need the President to lead.

What is President Obama’s plan for economic recovery? We’re over two and a half years into his presidency, and President Obama has failed to put forward a plan that grows the economy and puts Americans back to work. The President’s policies have only resulted in higher deficits and have failed to create jobs, which is exactly why many are frustrated. Since President Obama took office on January 20, 2009, the national debt has increased by $3.7 trillion. To put that in perspective, it took the U.S. from 1776 until 1992 to accumulate the same amount of debt that President Obama accumulated in two and a half years.

Weak US economy ‘is bad news for recovery’

ECONOMIC weakness in the US will make economic recovery in the UK more difficult, an audience of South Wales business leaders has been warned.

Speaking to 100 business-owners and entrepreneurs at the University of Wales Institute, Cardiff, Royal Bank of Scotland economic adviser James McCann said, given the importance of the US as a market for British goods, problems there would be felt here in South Wales.

U.S. Stock Futures Rally on Speculation Fed Will Spur Economy

Aug. 23 (Bloomberg) -- U.S. stock futures rose, indicating the Standard & Poor's 500 Index will rebound from the lowest valuation since 2009, on speculation the Federal Reserve will act to spur the economic recovery.

Alcoa Inc. and Exxon Mobil Corp. added at least 1.2 percent as commodity prices rallied for a second day. Bank of America Corp. and Goldman Sachs Group Inc. advanced more than 1.3 percent, following a tumble in financial stocks yesterday. Nvidia Corp., a maker of graphics chips, climbed 3.4 percent after Wells Fargo & Co. raised its recommendation.

Failure to push exports puts economy at risk, warns report

THE UK has failed to harness the power of exports to drive forward economic recovery and is in danger of losing out in markets essential for future growth, a damning report warns today.

The report by the leading IPPR think tank will sound alarm bells in Wales with its warning that Britain’s manufacturing sector is failing to make inroads in vital emerging economic powers such as Brazil, Russia, India and China.

Economic Analysis: Recovery continues to surge

By By Eric Siegel

It is 2011, and the recession is over. We have seen six consecutive quarters of GDP growth, the S&P 500 has returned over 18 percent since a year ago, and this month's Consumer Confidence Index is up from December.

January's unemployment rate, published by the Bureau of Labor Statistics, showed that the job market is improving, despite a still meager job outlook for adult women, teenagers, blacks and Hispanics.

Canadian Stocks Fall as Banks Drop on Economic Growth Concerns

Canadian stocks fell, extending a weekly drop, as banks declined on concern the global economic recovery is slowing.

Toronto-Dominion Bank (TD), Canada’s second-largest lender by assets, lost 2.7 percent after Citigroup Inc. and JPMorgan Chase & Co. cut their U.S. growth forecasts. Penn West Petroleum Ltd., a western Canadian energy producer, decreased 3.2 percent as crude oil headed for its fourth-straight weekly retreat. Barrick Gold Corp. (ABX), the world’s biggest gold producer, rose 1.3 percent as the metal extended a record.

Scotland Leading Economic Recovery say Dundee MSPs

Scotland is leading the economic recovery with employment up 24,000 in the last three months and unemployment rates remaining lower than the UK average and Dundee’s MSPs have contrasted these improvements in Scotland with continuing stagnation south of the border.

The Dundee MSPs also welcomed Labour MP Jim McGovern’s admission that ‘there has been some improvement as a whole in Scotland’ and claim that figures for numbers in employment due later this year will show increases in Dundee in line with the national increase.

BoJ Minutes: Must Aid Recovery With Policy

(RTTNews) - Members of the Bank of Japan's monetary policy board said that the central bank must continue to assist the country's fragile economic recovery with all of the means at its disposal, minutes from the bank's June 13 and 14 meeting revealed on Tuesday.

The bank's strategy includes comprehensive monetary easing, ensuring financial market stability, and providing support to strengthen the foundations for economic growth, the minutes showed.

Five False Premises about Economic Recovery

For a year or so following the financial crisis, the recovery strategy in most countries was based on a renewed belief in activist government—stimulus packages, bailout of key industrial and financial firms and even talk of (and some action on) industrial policy, notably related to “green growth”.

Since then, however, a different kind of recovery strategy has been on the ascendancy. This strategy believes that recovery requires a dramatic cut in government spending, minimal tax increases (ideally tax cuts for the rich) and deregulation.

In State Capitals, Officials Take Recovery Into Their Own Hands

DENVER — Here is one measure of the nation’s lingering economic trouble and the political anxiety festering in state capitals over jobs and angry voters: 500.

That is the number of new laws, at a minimum, that have been passed and signed by governors since Jan. 1 that were aimed in some fashion at economic recovery, according to the bipartisan National Conference of State Legislatures.

Economic recovery falters dramatically in first half of year

The economic recovery faltered dramatically in the first half of the year, and that means more trouble ahead.

The latest Commerce Department figures show that the nation's economic output was gasping for breath long before the debilitating debt-ceiling debate took center stage, further dimming prospects for 14 million unemployed Americans.

US economic recovery slower than thought

The world's largest economy grew much more slowly than thought in the first half of the year, as business caution, government cuts and some timidity on the part of consumers badly crimped the US recovery.

On top of the shock of a much weaker GDP figure for the three months to the end of June than had been forecast, economists digested a major revision to the first quarter figure.

Economic recovery falters dramatically in first half of year

The economic recovery faltered dramatically in the first half of the year, and that means more trouble ahead.

The latest Commerce Department figures show that the nation's economic output was gasping for breath long before the debilitating debt-ceiling debate took center stage, further dimming prospects for 14 million unemployed Americans.

US economy: GDP growth much weaker than thought

US economic growth is much weaker than first thought, government figures show.

The economy grew at an annualised rate of 1.3% in the second quarter, the Commerce Department said. Economists had forecast growth of 1.8%.

Euro Economic Recovery to Remain Uneven, Irish Central Bank Says

The euro area’s economic recovery will remain gradual and uneven and there are risks to growth from the region’s debt crisis, Ireland’s central bank said.

“The underlying momentum of economic activity in the euro area remains positive and is expected to continue to recover gradually,” the Dublin-based central bank said in its quarterly bulletin today. Growth will probably continue at a “gradual and uneven pace,” it said.

Fed may need to do more if recovery stalls-Williams

The U.S. Federal Reserve's super-easy monetary policy has not been enough to usher in a strong economic recovery, and the central bank may need to do more if growth stalls, a top Fed official said Thursday.

The Fed has kept interest rates near zero for more than two and a half years and has bought $2.3 trillion in long-term securities to further boost the economy after the worst downturn in decades.

Beige Book: Pace of Recovery Slows

The pace of the economic recovery slowed in much of the U.S. in June and early July, according to a Federal Reserve report that also noted that inflation pressures were beginning to ease in many of its regional districts.

The Fed's latest "beige book" showed the soft patch in the economy has continued to spread, with over half of the central bank's 12 districts reporting a slowdown in activity since the previous report.

European shares fall on global recovery worries

LONDON, July 21 (Reuters) - European shares fell on Thursday on global recovery worries after new data showed an unexpected weakening in German private sector growth and a contraction in China's manufacturing industry for the first time in a year, hitting mining stocks.

European shares fall on global recovery worries

LONDON, July 21 (Reuters) - European shares fell on Thursday on global recovery worries after new data showed an unexpected weakening in German private sector growth and a contraction in China's manufacturing industry for the first time in a year, hitting mining stocks.

The market snapped its upward trend after Purchasing Managers Index data showed German manufacturing orders falling for the first time in two years, fuelling investor fears that Europe's largest economy might be losing steam.

Miners, whose growth is dependent on a strong economic outlook featured among the worst performers, after China's factory sector contracted at its fastest pace since March 2009, with the STOXX Europe 600 Basic Resources index down 1.4 percent.

Xstrata , Rio Tinto and Kazakhmys were standout losers, falling 1.6-2.4 percent.

"The German PMI registered a loss of momentum. I do not think it means Europe will go into recession, but growth is slowing," Mike Lenhoff, market strategist at Brewin Dolphin, said.

"We had a poor Chinese PMI figure, rising inflation is squeezing real income growth and it looks like the market is having another wobbly day."

Global economy worries were not the only factor to influence the market, with corporate results proving to be another drag on the index. Ericsson (ERICb.ST), the world's biggest mobile telecommunications network equipment maker, fell 9.6 percent to become the worst performer in the FTSE Eurofirst 300 index after its second-quarter profit came in below expectations.

By 0910 GMT the FTSEurofirst 300 was down 0.5 percent at 1,086.15 points, but support was seen at the 1,066 March low - a number which it had previously bounced from when last tested.

Resistance was seen at 1,132 - a number reached in July after strong U.S. data.

EURO ZONE SUMMIT HOPES

However, the periphery euro zone exchanges were outperforming the rest of Europe on hopes that euro zone leaders will emerge from their emergency summit meeting in Brussels on Thursday with a second bailout deal for Greece.

The details of a preliminary deal reached between France and Germany overnight are expected to be presented at the summit and have not yet been made public.

Spain's IBEX rose 0.7 percent, Portugal's PSI 20 gained 0.5 percent and Greece's Athen's General was up 1 percent, while Germany's DAX fell 0.7 percent.

"France and Germany striking an accord is very good news for the euro zone," Will Hedden, sales trader at IG Index, said. "It will be the peripheral exchanges that will benefit the most.

Banks extended their rebound to feature among the top performers after making their biggest one-day percentage gain since January in the previous session, with the STOXX Europe 600 Banks index gaining 0.8 percent.

The index has lost 23.5 percent since mid-February, when concerns about the euro zone peripheral debt crisis and the global recovery intensified.

There are still concerns the Greek debt crisis could spread to other debt-laden countries like Spain and Italy and analysts said any market gains on Thursday could be short-lived.

"The risk of contagion remains, the Greece problem has not really gone away, just been brushed aside," Hedden said.

by Greg Mahlich

Source: www.reuters.com

BOJ's Yamaguchi says will act decisively, watching yen

MATSUMOTO, Japan, July 20 (Reuters) - The Bank of Japan will
act flexibly and decisively with an eye on how rises in the yen,
among other factors, are affecting the economy, a deputy BOJ
governor said, signalling the bank's readiness to ease monetary
policy further if the country's recovery comes under threat.

Hurdles abound in global recovery

NEW YORK: A dismal US jobs report. A European debt crisis for which there is no quick fix. Slowing growth in China.

There are a number of reasons to be cautious about the prospects for the global economic recovery.

It's against this background that US Federal Reserve Chairman Ben Bernanke will step before Congress for his semi-annual testimony on Wednesday. He will likely be barraged with questions about Friday's jobs report -- a report so across-the-board disappointing that JPMorgan economist Michael Feroli called it "worse than Spinal Tap's 'Shark Sandwich.'"

How bad are economic conditions? Pawn shops, payday lenders are hot

NEW YORK — As the economic recovery sputters, investors looking for a few good stocks may want to follow the money — or rather the TV, the beloved Fender guitar, the baubles from Grandma, the wedding ring.

Profits at pawn shop operator Ezcorp Inc. have jumped by an average 46 percent annually for five years. The stock has doubled from a year ago, to about $38. And the Wall Street pros who analyze the company think it will go higher yet. All seven of them are telling investors to buy the Austin, Texas, company.

Economic recovery quietly completes its second year

As far as I know, none of last weekend's fireworks were ignited to celebrate the economic recovery.

If they had been, they probably would have fizzled like a soggy sparkler.

What? You didn't know that this month marks the second anniversary of the U.S. economic recovery? That's understandable, because there really isn't much to celebrate. It's one of the slowest recoveries on record, and it comes after the deepest recession since the 1930s.

Reserve Bank of Australia holds interest rates fire as growth stalls

THE Australian economy is slowing rapidly as inflation moderates and cautious consumers save rather than spend.

As the Reserve Bank yesterday kept interest rates on hold at 4.75 per cent for the seventh consecutive board meeting, governor Glenn Stevens signalled that the bank would lower its forecast for growth in its quarterly monetary policy statement next month, citing subdued household spending, the high Australian dollar and a slower than expected recovery from the summer floods.

Shadow Inventory Halts Economic Recovery

The shadow inventory of homes and other real estate is holding an economic recovery back from fully developing, according to a study by credit firm Equifax. As many as six million residential properties make up the inventory of homes not yet officially foreclosed by lenders, but left in limbo to rot in uncertainty.

Mortgage delinquencies exceed prerecession levels due to lenders’ unwillingness to modify mortgages for the overwhelming majority of applicants. Lender write-offs on home mortgages, which include first mortgages and home equity lines of credit are still climbing and have yet to show signs of peaking, according to the credit research firm.

Bank of Japan Report Signals Recovery

TOKYO—Japan is quickly recovering from the impact of the March 11 earthquake and tsunami, a Bank of Japan report on regional economies showed Monday.

Seven of Japan's nine regions, including the northeast area directly hit by the disaster, upgraded their assessments in the July edition of the quarterly Regional Economic Report from the April edition.

Economic recovery may improve during second half of year

The first half of 2011 might charitably be called a growth recession. Gross domestic product slothed along at 1.8 percent in the first quarter and is expected to do little better in the second. The stock market tried and failed to gain pre-downturn highs. Job creation stalled.

The consensus calls for a somewhat better second half. Oil prices have moderated, Japan is recovering from the earthquake and its effect on the global supply chain. The Greek fuse on a eurozone detonation has been snuffed out, at least for now.

Asian Stocks Gain a Second Week on Greek Debt, U.S. Optimism

Asian stocks rose, driving the region’s benchmark index up for a second straight week and paring a quarterly decline, amid optimism Greece will avoid default, and signs a U.S. economic recovery is strengthening, boosting prospects for Asian exports and bank earnings. Mitsubishi UFJ Financial Group Inc. (8306), Japan’s largest publicly traded bank, jumped 5.9 percent this week in Tokyo on speculation Greece will avoid a default that might destabilize the region’s banking system. LG Electronics Inc., which gets 30 percent of its revenue in North America, rose 2.8 percent in Seoul. BHP Billiton Ltd. (BHP), the world’s largest mining company and Australia’s No. 1 oil producer, increased 3.4 percent in Sydney as oil and metal prices climbed.

Global economic recovery slips into lower gear as industrial activity dips

The manufacturing boom that has spurred the global recovery of the last 18 months dropped into a lower gear last month as the UK, the eurozone and China registered a significant drop in growth.

Britain's manufacturing sector expanded at the slowest pace in nearly two years while the eurozone, dragged down by Italy and slowing Germany activity, fell from 54.6 points in May to an 18-month low of 52 in June.

Schumer: GOP Opposing Economic Recovery for Political Gains

The third-ranking Democrat in the Senate, Charles Schumer of New York, accused Republicans in Congress of working to undermine an economic recovery Thursday. Schumer asserted in an address to the Economic Policy Institute that the Republican fiscal approach of "cut, cut, cut" has undermined the nation's attempt at a financial rebound, and he charged that doing so is central to the GOP's long-term strategy.

"Insisting on a slash-and-burn approach may be part of this plan," Schumer said, "it is ideologically tidy and it undermines the economic recovery, which they think only helps them in 2012." Adding, "They are opposing the economic recovery itself - and all that means for America's working and middle class families."

QE2: Fed bond purchases end, leaving mixed legacy as economic recovery lags

Thursday morning, a half-dozen or so staffers will gather in a small room on the ninth floor of the Federal Reserve Bank of New York building in Lower Manhattan. The traders will sit at computer terminals and buy $4 billion to $5 billion in U.S. Treasury bonds, using dollars newly created by the act of their clickety-clacking at their computers.

When they finish, well before lunchtime, the Fed’s much-debated effort to strengthen the U.S. economy by buying $600 billion in bonds, launched in the fall, will be over.

Recovery helps affluent families while cash-strapped suffer

Whether the economic recovery in the U.S. can continue could depend on a single factor: consumer confidence. Confidence is important because consumers who are upbeat about prospects tend to spend more, driving corporate profits and job growth. Companies hire more employees, boosting spending, growth and confidence.

Such self-reinforcing loops are the stuff that recoveries are made of, and one reason the current rebound has been so tepid. While the economy has bounced back from a devastating recession, the gains have largely helped better-off households, economic data show. That has left out a huge swath of consumers.

Markets fall fast Thursday

WASHINGTON, June 23 (UPI) -- U.S. markets dropped sharply Thursday with the Labor Department announcing first-time jobless benefits claims escalated in the week ending last Saturday.

The Federal Reserve said Wednesday the economic recovery had slowed to "moderate" improvements and the next economic release, jobless benefits data, supported the Fed's assessment.

Industrial Midwest leads job recovery, but national picture spotty

WASHINGTON -- The economic recovery may have stalled in parts of the South and West hit hard by the housing bubble, but Rust Belt states, buoyed by a manufacturing comeback, have seen a steady decline in their jobless rates over the last year.

Of the 10 states where unemployment rates dipped the most from May 2010 to May 2011, Rust Belt states - Michigan, Indiana, Ohio, Pennsylvania and Illinois - account for half, according to Labor Department figures.

Tourism one of the keys to economic recovery

One of the keys to economic recovery is tourism and some new ideas on how to attract more people to the Rockford area will be discussed today.

Representatives from the Illinois Department of Commerce and Economic Opportunity, Office of Tourism will be at Riverfront Museum Campus in downtown Rockford today as part of a four-day, state-wide media tour to discuss the impact of tourism in Illinois. The group will discuss marketing ideas, new ways to attract domestic and international travelers, and how to best cater to today's traveler with value-added packages, promotions and partnerships.

Dr. Alexander Mirtchev Discusses the U.S. Government's Measures to Deal With the Global Economic Crisis and Stresses the Imperative for Viable Exit Strategy on the Riz Khan Show

Dr. Alexander Mirtchev, founder and president of Krull Corporation, discussed the U.S. government's actions in response to the crisis in the economy on Al-Jazeera's Riz Khan Show. The complexities created by the precarious economic and financial situation are exacerbated by what is perceived as a "failure of the reigning 'social contract'" between Main Street, Wall Street and the U.S. government. "To put it simply, Main Street was relying on Wall Street to go about its business, with the government perceived as the arbiter and even guarantor of sure returns. Presently, the collapse of this 'contract' is giving rise to calls from different quarters for overhauling the whole system," according to Dr. Mirtchev.

Economic recovery at risk as households forced to dip into savings

Household finances in Britain are deteriorating at their fastest rate since the depths of the recession in 2009 amid fresh evidence that consumers are struggling to cope with rising prices and curbs on wages.

Fuelling fears that the economy is flirting with a double-dip recession, the monthly Markit index showed an increasingly gloomy public running down savings and taking on more debt in an attempt to make ends meet.

Slow economic recovery takes most of state's cash reserves

OLYMPIA — Most of the state's projected budget reserves were wiped out by new tax-revenue estimates released Thursday.

Estimated reserves stand at a relatively skimpy $163 million, just one day after Gov. Chris Gregoire signed a two-year, $32 billion budget that pegged reserves at more than $730 million.

Obama's 'Recovery Summer' still a work in progress

Today marks the one-year anniversary of the Obama administration's heavily promoted "Recovery Summer," its June-July 2010 effort to highlight a surge in infrastructure projects funded by the 2009 American Recovery and Reinvestment Act.

It's been anything but a celebration for the White House, beset by a painfully slow economic recovery and a national unemployment rate of 9.1%.

Economic recovery will continue, Chapman forecast says

California home prices will continue falling this year and into next, but there's an upside in that it will allow more people to buy homes, according to the latest economic forecast from Chapman University's A. Gary Anderson Center for Economic Research.

Home prices in California will drop 4.4% this year and 0.7% next year, according to the Chapman forecast, released Thursday.

Putin: Russia Expects Full Economic Recovery Next Year

Russian Prime Minister, Vladimir Putin, says his country is still struggling with the debilitating effects of the global economic crisis, but expects Russia's economy to fully recover by next year. Putin presented his views on the economy, labor and social rights at the 100th session of the International Labor Organization (ILO) Conference. He is the first head of the Russian government to address the ILO Conference.

Putin, says Russia has managed to retrieve about two-thirds of its lost economy. But, he acknowledges his country has not yet reached pre-crisis levels and has much to do before the economy fully recovers.

OECD predictions for global economic growth

The OECD has outlined a grim outlook for the euro area as a whole, while it says the UK is on track for a 'slow pace of expansion'. Here is a detailed breakdown of how it thinks the world's biggest economies will shape up in the coming months.

Obama asks for patience with pace of economic recovery, says ‘it’s going to take time’

President Barack Obama says people need to be patient about the economic recovery and that training workers for manufacturing jobs will help with the turnaround.

The recession didn’t happen overnight and won’t end that way, either, the president said Saturday in his weekly radio and online address.

Slow economy weighing on stock market, finally

The stock market comeback has proceeded at a rapid clip for more than two years. Yet the economic recovery has been frustratingly slow.

Now a spate of disappointing economic news is interrupting the market rally. It has money managers questioning whether the market can pull out of reverse and again leave the sputtering economy in its dust. If it does, credit the same factor that's driven stocks up 89 percent since their bottom in March 2009: record corporate profits.

BOULGER: Economic recovery to be slow

Ray Boulger, senior technical manager at John Charcol, said: “Last week’s very weak manufacturing figures from both sides of the pond, but particularly in the UK, coupled with higher than expected Government borrowing in April, adds significant weight to the view that the economic recovery is going to be very protracted. Despite many economists having already revised downwards their original 2011 GDP forecasts some further downward revisions look likely.

A Tim Pawlenty plan for recovery

How did you enjoy your economic recovery last summer? Well, that's what President Barack Obama said we were having. He wrongly thought the stimulus, the bailouts and the takeovers were the solution. He said they worked.

The federal government's addiction to spending must be brought to a halt and we must have a president who has a growth agenda with pro-growth policies.

Economic Crisis 'Successfully Exited'

HELSINKI—The euro zone's economic crisis is over and it is now enjoying a broad-based recovery, Bank of France Governor Christian Noyer said Monday.

"There are increasing signs that the economic recovery is on track," Mr. Noyer told a financial markets conference, pointing to a "brilliant" first quarter and strong business sentiment indicators. He added that he considered that financial conditions are now "favorable" and that there is no sign of credit rationing as demand for funds improves. "All in all, we have strong reasons to believe that we successfully exited the economic crisis."

Recovery Doubted Due to Weak Employment Numbers

Hiring slowed down in May with only a 9.1% rise in employment indicating a slower economic recovery. Last month, nonfarm payrolls rose 54,000. Growth is also constrained by supply disruption after Japan’s disasters. Still analysts believe the economy will not head back into a recession as high gasoline prices are believed to be only temporary. The weak report indicated a slowdown in economic momentum affected further by consumer spending and manufacturing data. The hiring report had no clear impact caused by tornadoes and flooding in the Midwest and South said the Labor Department.

Jobs report fuels doubts for recovery

WASHINGTON -- The nation's job market took a sharp turn for the worse last month as employers abruptly curbed their hiring and the unemployment rate rose -- grim evidence that the economic recovery is faltering.

The new Labor Department report, which showed the unemployment rate edging upward to 9.1 percent, was bad news for millions of Americans seeking work and for the hundreds of thousands of newly minted college graduates whose hopeful prospects are now increasingly uncertain.

Oil Trades Near Lowest in a Week on Concern Economic Recovery Is Faltering

Oil traded near its lowest in a week in New York on concern that the global economic recovery is faltering and fuel demand will decline.

Crude stockpiles climbed the most in more than a month, according to the American Petroleum Institute. The Energy Department will release its own data later today. The Organization of Petroleum Exporting Countries is likely to keep production levels steady when it meets next week, according to a Bloomberg survey. An official at one of OPEC’s Middle East members said output needs to be raised by as much 1 million barrels a day.

Oil Trades Near Lowest in a Week on Concern Economic Recovery Is Faltering

Oil traded near its lowest in a week in New York on concern that the global economic recovery is faltering and fuel demand will decline.

Crude stockpiles climbed the most in more than a month, according to the American Petroleum Institute. The Energy Department will release its own data later today. The Organization of Petroleum Exporting Countries is likely to keep production levels steady when it meets next week, according to a Bloomberg survey. An official at one of OPEC’s Middle East members said output needs to be raised by as much 1 million barrels a day.

British Chambers of Commerce raises new fears for UK growth

Business lobby group casts doubt over official UK growth estimates but still supports government plans to reduce deficit

Britain's economy will grow more slowly this year than has been forecast in official estimates, according to the British Chambers of Commerce (BCC), due to a weak first quarter and the impact of bank holidays and the royal wedding. Despite the sluggish performance, the lobby group said that it still backed the government's drastic plans to reduce the deficit, but called for more to be done to help businesses take up the slack caused by cutbacks in the public sector.

G8 upbeat on recovery but warns of commodity costs

Leaders of the Group of Eight industrialised nations today declared the global economic recovery was becoming "self sustained" despite concerns in many quarters.

But they cautioned that the high cost of commodities is hampering growth.

India, China lead global economic recovery: UN

UNITED NATIONS: The emerging economies of India, China and Brazil are leading the global economic recovery, according to a UN report released on Wednesday.

"The rebound has been led by the large emerging economies in Asia and Latin America, particularly China, India and Brazil," the report said.

OECD fears global recovery could spiral into 'stagflation'

The OECD has sent out a stark warning the global economic recovery could spiral into stagflation on the back of rising oil and commodity prices.

In its latest economic outlook, the group's chief economist Pier Carlo Padoan said this will lead to stagnant growth and high inflation in some countries.

U.S. Spending Cuts Might Imperil Global Recovery, UN Says

Government spending cuts by the U.S. and other Western nations might threaten the global economic recovery, the United Nations said as it forecast 2.8 percent growth in the U.S. economy next year.

“If austerity measure are too drastic and come too soon given the stage of the recovery, economic growth and employment could suffer and the still fragile banking sector could weaken further,” the UN’s midyear economic analysis said. “A fall out in one part of the developed country financial system may still have ripple effects worldwide.”

Danger of uneven Europe recovery has fallen

VIENNA, May 23 (Reuters) - The danger of an uneven economic recovery in Europe has fallen despite concerns about the patchy nature of the upturn, European Central Bank Governing Council member Ewald Nowotny said on Monday.

"One cannot exclude the possibility of a slowdown in recovery, but I think that the risks of an L-shaped or W-shaped development have clearly decreased," he said told a conference organised by the central bank.

Return of black economy ‘a threat to recovery’

The re-emergence of the black economy could be a threat to Ireland’s economic recovery, according to the newly-elected president of the Institute of Certified Public Accountants in Ireland (CPA).

Gail McEvoy, who is managing partner of Drogheda firm McEvoy and Associates, said that immediate steps must be taken to ensure the under-the-counter payments culture, which was prevalent in the 1980s, does not re-emerge

Economic Policy Cooperation Vital to Global Recovery

Advanced and emerging market economies stand to benefit from a stronger economic recovery if they cooperate in setting their basic economic policy plans, said John Lipsky, acting managing director of the International Monetary Fund.

Lipsky, giving the annual Stavros Niarchos Foundation lecture at the Peterson Institute for International Economics—a Washington, D.C-based think tank—said effective policy coordination promises to be a mutually beneficial proposition.

Small businesses are key to economic recovery

Small businesses are the backbone of our economy. Nearly two out of every three jobs are created by small businesses.

If our small businesses are thriving, we will create jobs. If our small businesses are growing, we will keep our economy moving in the right direction.

This week is Small Business Week, which is the perfect opportunity to reflect on what has been done to support the small business community and to refocus our efforts on helping American small businesses grow.

Fed’s Dudley Says ‘Moderate’ Economic Recovery Is Falling Short of Goals

Federal Reserve Bank of New York President William Dudley said the central bank is falling short of its goals because of the modest pace of the recovery, with unemployment too high and headline inflation likely to ease.

“The recovery remains moderate and we still have a considerable way to go to meet the Fed’s dual mandate of full employment and price stability,” Dudley said today in a speech in New Paltz, New York.

Fed officials are considering how quickly to begin an exit from record stimulus after purchasing a total of $600 billion in U.S. Treasuries by the end of June. They are also discussing a strategy for how to remove stimulus, with a majority favoring ending the policy of reinvesting proceeds from maturing securities first before raising interest rates or selling assets, minutes of their April 26-27 meeting showed yesterday.

Newt's Economic Recovery Plan

Last Friday I attended the speech by Newt Gingrich at Art Laffer's annual Investor Conference in Washington, D.C., where Gingrich unveiled his own economic recovery program. This wasn't just campaign rhetoric. The speech was specific, detailed, and comprehensive.

Laffer himself, who was central to defining the economic policies that produced the 25-year Reagan economic boom, said regarding Gingrich's economic plan, "The combination of pro-growth tax reform, spending restraint, and sound money will restore robust economic growth with low unemployment and low inflation." Moreover, Laffer added, given the dramatic reductions in tax rates as discussed below, "in due course, the plan should be surprisingly inexpensive from the standpoint of lost revenues given the powerful effect it will have on the future growth path of the United States economy."

Weak economic recovery still affecting Scottish commercial property

Scotland’s office occupier markets still performing at below average levels.

Economic recovery from a banking crisis-induced recession is notoriously weak. Aberdeen aside, the lack of a solid foundation to the recovery means that Scotland’s occupier markets are still performing at below average levels, while the development sector remains moribund. The investment market appears to have found some stability but trading is thin and these conditions will persist during 2011. These are the main findings in Ryden’s 68th Scottish Property Review, an authoritative report on the country’s commercial property sector.

Securing global economic security

Inflation is a significant factor of global economic security and has the innate capacity to upend carefully laid plans

Canadian Natural Gas Rises on Signs of U.S. Economic Recovery

Canadian natural gas rose after confidence among U.S. consumers grew more than forecast in May, a signal that industrial gas use is poised to increase.

The Thomson Reuters/University of Michigan preliminary consumer sentiment index rose to 72.4, a three-month high, from a final reading of 69.8 in April, the group reported today. The consumer-price index rose 0.4. percent in April, matching the median forecast of economists surveyed by Bloomberg.

Economic recovery delayed by property collapse

Ireland's economic recovery continues to be weighed down by the property collapse, according to the European Commission.

The aftershocks of the property collapse means growth this year is reaching just 0.6%, lower than the Government's target of 0.75%

U.K. House Prices Drop Most in Seven Months on Economic Recovery Concerns

U.K. house prices fell the most in seven months in April as signs of a fading economic recovery and tighter lending conditions dented property demand, Halifax reported today.

Values fell 1.4 percent from March to an average 160,395 pounds ($262,839), Halifax, the mortgage unit of Lloyds Banking Group Plc (LLOY) said in a statement in London today. From a year earlier, prices were down 4.9 percent.

Economic recovery is "back on track", new figures claim

Order levels are up and business growth remains high, although the number of new jobs has slowed.

Economic recovery in Scotland is back on track, according to figures released today.

April marked the fourth straight monthly rise in new order levels in the Scottish economy, and new business growth was unchanged from March's three-and-a-half-year high.

Pakistan’s economy on way to recovery

Pakistan is the 26th largest economy in the world in terms of purchasing power, and the 47th largest in absolute dollar terms. Its production is dominated by textiles, chemicals, food processing and agriculture. Most of the recent acceleration in GDP growth has come from the industrial and service sectors. Despite adverse factors such as energy shortfall and rising costs of imported petroleum products, the economy has shown modest signs of recovery during 2010-11. It has been a period during which the government made efforts to stabilise the economy in its quest for sustainable growth.

Treasuries Advance for Fourth Week Amid Economic Recovery Concern, Greece

Treasuries rose for a fourth week, pushing 30-year bond yields to the lowest level since December, as a plunge in commodities reduced concern inflation will climb and investors sought a refuge from Greece’s debt crisis.

U.S. two-year note yields dropped yesterday to the lowest level since March after reports European finance officials were in Luxembourg for an unscheduled meeting that may address restructuring Greek debt. Treasury yields had risen earlier yesterday after a government report showed payrolls accelerated in April in the biggest gain since May 2010. A report next week may show retail sales rose for a 10th straight month.

Soaring administrations cast fresh doubts on recovery

Corporate administrations in England and Wales have soared this quarter, jumping 22% since Q4 2010, statistics published today by the Insolvency Service reveal.

Highlighting this worrying trend has been the recent, high profile administration of DIY giants, Focus DIY, which recently colllapsed. The business is now being administered by Earnst & Young and it is expected that up to 4,000 could be lost.

Building industry can lead way to enconomic recovery

John Elliott, managing director of Millwood Homes, right, explains why now is the right time to start building a recovery.

Housebuilding is vital to our recovery as a nation since construction is one of the best ways to stimulate economic activity - each £1 spent generates a total of £2.84 in economic activity.

Sage on a Way to Recovery

According to the first half results of software giant Sage, after being badly affected by the downturn, it has initiated the process of its recovery.

As revealed by those unaudited accounts, there now exist organic growth, pre-tax profit, debt reduction and increased revenue.

Warren Buffet Weighs in on Status of Economic Recovery, Lubrizol and David Sokol

Warren Buffet, the ‘Oracle of Omaha,’ recently faced weary shareholders of Berkshire Hathaway this past weekend for an update on the outlook of the conglomerate. Questions from shareholders indicated the anxiety was a largely a result of the recent Standard & Poor’s Index put the U.S. government’s credit rating on a “negative credit watch,” according to Reuters. Mr. Buffet responded by saying that the Standard & Poor’s decision was hasty, as the US government can print more money to pay down the debt if absolutely necessary. As a result, he went on to say that it was an economic certainty that the dollar would fall; however, it is variable as to how fast and soon this will occur.

Comptroller: NY economic recovery slow and uneven

New York Comptroller Thomas DiNapoli says the state's economic recovery has been slow and uneven.

DiNapoli in a new report says that while private-sector employment is up, public-sector employment is down. And while home values in upstate New York's largest metropolitan areas spiked in the fourth quarter of 2010, values have begun to decline in the New York City region.

Bernanke Says High Unemployment, Housing Restrain U.S. Economic Recovery

Federal Reserve Chairman Ben S. Bernanke said high levels of joblessness and home foreclosures are restraining the U.S. recovery and putting many people and communities at risk of being “left behind.”

“The broader economy is in a moderate recovery, and we have recently seen some welcome, if gradual, improvement in the labor market,” Bernanke said in a speech today in Arlington, Virginia. “But our economy is far from where we would like it to be, and many people and neighborhoods are in danger of being left behind.

GDP: Economic recovery stumbles

NEW YORK (CNNMoney) -- Economic growth slowed to a crawl in the first three months of the year as a spike in gasoline, higher overall inflation and continued weakness in the housing market all took a toll on the recovery.

Gross domestic product, the broadest measure of the nation's economic health, rose at an annual rate of 1.8%, the Commerce Department reported Thursday. That's a significant slowdown from the 3.1% growth rate in the final quarter of 2010.

Small business slow to feel the recovery

We’re hearing that there are signs the recession is winding down and the economy may be on the way to recovery.

But what about small local businesses?

India Rupee Gains on Optimism Global Economic Recovery on Track

India’s rupee advanced, snapping a three-day decline, as increases in U.S. corporate profits fueled optimism the global economic recovery is on track, boosting demand for emerging-market assets.

The rupee strengthened the most in a week as the MSCI Asia Pacific Index of regional shares advanced 0.2 percent. Overseas investors bought $1.8 billion more Indian shares than they sold this month as U.S. companies, including Apple Inc. and Ford Motor Co., reported earnings that beat analysts’ estimates.

Oil prices threat to economic recovery

During the past few months, the unrest in North Africa and the Middle East has created a great deal of uncertainty. And even though the supply of oil has not been reduced, the price of oil has risen rapidly.

Asset prices are partially a function of risk, and oil is no exception. The spreading unrest in the Middle East and North Africa has increased the risk that oil supplies will be interrupted, meaning the risk premium on oil has risen and this has driven both oil prices and oil price volatility higher.

Recovery prompts US divorce rebound

In a perverse sign of the economic recovery, the US divorce rate, which dipped in the recession, has bounced back, lawyers and matrimonial experts say.

A stronger economy, lower unemployment and a housing market that – while still weak – is no longer in free fall are all contributing to a rebound in divorce filings.

The conversation: One year since the BP oil spill, but still a long way from recovery

It's been one year since BP's Deepwater Horizon drilling rig exploded. Eleven workers were killed. Some of those who make a living off the sea and the land went into financial ruin. And it devastated the environment and the delicate ecosystems of the Gulf of Mexico. Today's theme: Just because you can't see the oil doesn't mean it isn't there; and just because the media have shifted their attention to other critical issues doesn't mean the disaster has vanished into thin air.

Lothian 'powerhouse' to boost Scottish recovery

EDINBURGH and the Lothians were today hailed as an "economic powerhouse" which will play a key role in Scotland's economic recovery.

Scottish Labour finance spokesman Andy Kerr told a business breakfast organised by Edinburgh Chamber of Commerce that his party's single most important goal is growing the economy to create jobs and prosperity.

But he claimed the SNP's "obsession" with independence showed it had the wrong priorities and would damage Scotland's prospects of success.

Eurozone PMI points to sustained recovery

The eurozone is on track for a sustained economic recovery according to a closely watched industry survey – but at the cost of a widening gulf between the German-led core and the struggling periphery.

The Markit purchasing managers’ index for the eurozone rose to 57.8 in April from 57.6 in March, well above the 50 mark that indicates economic expansion.

‘Surging oil prices may jeopardise global economic recovery’

India has warned that surging oil prices could jeopardise recovery of the global economy which is already vulnerable to a variety of risks, including political and social turmoil in parts of the world combined with natural disasters.

“The global recovery may be jeopardised by a sustained rise in oil prices,” RBI Governor, Dr Duvvuri Subbarao, told the Spring Meeting of the IMF here last evening.

Geithner: G-7 Intervention in Yen Contained Risk of Damaging Recovery

The coordinated intervention by the Group of Seven major industrialized economies contained the risk that a strengthening yen after Japan’s devastating earthquake would damage the economic recovery, U.S. Treasury Secretary Timothy Geithner said Friday after a bilateral meeting with the Japanese finance minister.

Speaking through an interpreter, Finance Minister Yoshihiko Noda said the G-7 intervention was “very significant and effective.”

Tokyo Says Economic Recovery Is Stalled

The Japanese economy is no longer on a recovery path because of the impact of the devastating earthquake on March 11, but the economy minister held out optimism it will pick up by the end of the year.

"Although the Japanese economy was picking up, it has shown weakness recently due to the influence of the Great East Japan Earthquake," the Cabinet Office said in its report for April, released Wednesday, marking the first downgrade of its economic assessment in six months.

Companies still pessimistic about economic recovery

The UK's large companies are pessimistic about economic recovery, yet risk appetite is at its strongest.

Accounting consultancy firm Deloitte released the results of their quarterly survey of finance chiefs at 137 of the UK's major firms. Most of the respondents to the Deloitte CFO Survey expect profits to fall in 2011, by an average of 7%. Finance directors also attached a 29% probability to the chance of a double dip in the economy - up from last year's 27%.

Construction sector figures 'not helping economic recovery'

Recent data on the construction industry has shown that there have not been enough property development projects undertaken to help boost the country's economic recovery.

Latest figures from the Office for National Statistics show that £7.609 billion was spent on building initiatives last month.

Biomass industry ‘can lead Scottish economic recovery’

The biomass industry will play a key role in driving Scotland out of recession.

This is the view of first minister and Scottish National Party (SNP) leader Alex Salmond, who told STV that low carbon industries could create 130,000 jobs by 2020.

Japan bank to help economic recovery

The Bank of Japan has announced new measures to help the economy recover from the earthquake, tsunami and nuclear crisis.

The Central Bank has unveiled a lending scheme to help banks in quake-hit areas.

It has also left its key rate unchanged and downgraded its view of the economy due to the disasters.

Wall Street Poised For Higher Open On Optimism About Economic Recovery

(RTTNews) - U.S. stock futures point to a higher open Wednesday morning following two successive days of mixed closing, with the S&P struggling to breakthrough the crucial resistance, amid relatively thin volumes. Traders might ponder on the plan unveiled by the Securities Exchange Commission to protect the market from extreme volatility and avoid flash crashes, on a day of light economic data. Increasing optimism about the sustainability of the economic recovery and expectations for a possible change in monetary policy stance later in the year might also be in traders' radar.

Uneven global economic recovery still underway: IMF chief

WASHINGTON, April 4 (Xinhua) -- Against the backdrop of the uneven and fragile global economic recovery, new approaches to tackle the global challenges and global cooperation are badly needed in the post-crisis era, Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), said here on Monday.

The global economy continues to revive, but in a way that is unbalanced among various economies, the IMF chief said Monday in a speech at George Washington University adjacent to the Washington- based organization.

Slow going for global economic recovery

We expect the markets to become more circumspect than they have been. 2010 was characterised by the stockmarkets lurching between 'risk on' and 'risk off'.

We think this year will be more of a 'sideways grind' as the world slowly, and occasionally painfully, rebalances.

Economic recovery should move along

The week ahead should bring further signs of a deepening economic recovery as job creation is likely to return to a healthy clip and business confidence is expected to rise.

On Monday, the Bank of Canada's first-quarter Business Outlook Survey is expected to show growing optimism among business leaders, with the balance of opinion for future sales rising to 27 from the previous quarter's 22.

Dudley Says ‘We Don’t Want to Overstate’ Strength of Economic Recovery

Federal Reserve Bank of New York President William C. Dudley comments on the U.S. economy. He spoke to reporters following a speech today in San Juan, Puerto Rico. His remarks came after the Labor Department reported that the unemployment rate dropped to 8.8 percent in March and employers added 216,000 jobs, more than economists estimated.

Services growth boosts hopes of economic recovery

Hopes for the UK recovery have lifted after official figures showed the powerhouse services sector grew at its fastest rate in nearly nine years in January.

The index of services showed services output rebounded by 1.3% month-on-month in January after plunging 1.1% in snow-hit December, the Office for National Statistics (ONS) said. This was the fastest growth since July 2002.

Economic recovery hopes dashed with bleak levels on household income

Sustained recovery to the economy took another blow after a real household income drops to the lowest for 30 years.

The office for National Statistics reported an overall fall of 0.8% in real household disposable income - this is the lowest since 1977. The announcement of the widest cuts to spending and employment has affected high -street spending. George Osborne said, at the Treasury Committee; "While this budget includes hard measures, we are convinced they are unavoidable in the short term to pave the way for a strong recovery.

One third of Scots firms 'expect rise in turnover'

Almost a third of Scottish firms expect turnover to rise in the next six months, a survey has suggested.

The latest Lloyds TSB Scotland Business Monitor indicated expectations for turnover rose to reach their highest level for three years.

Economic recovery 'is taking longer than we expected', admits Osborne

The recovery will be weaker than expected as Britain struggles out of recession, George Osborne admitted yesterday.

The Office for Budget Responsibility – the Treasury watchdog set up by the Chancellor – said the economy will grow by only 1.7 per cent this year.

That is less than the 2.1 per cent expected in November and 2.3 per cent predicted at the Emergency Budget last June.

Small businesses and young people 'important' to economic recovery

Growth and innovation in small businesses will be crucial to the UK's emergence from the economic downturn, according to Entrepreneurs in Action.

In the expansion, small businesses will almost definitely create graduate vacancies and launch graduate schemes.

Govt: Quake Threatens Japan's Fragile Economic Recovery

The Japanese economy is turning to pick up, but it is only weakly self-sustaining, the Cabinet Office said Wednesday. It also said the influence of the massive earthquake raises concerns about the weak recovery.

In its monthly economic assessment report, the government maintained its view on Japanese exports, saying that the sector is showing movements of picking up.