World Economy


  • July Manufacturing Unchanged; Construction Falls Friday, 1 Aug 2008 | 1:22 PM ET
    Car Manufacturing

    U.S. factory activity was unchanged in July from June while inflation pressures moderated, according to a report released Friday

  • Pimco's El-Erian: Jobless Rate Headed Toward 6% Friday, 1 Aug 2008 | 10:35 AM ET
    Mohamed El-Erian, co-chief executive officer of Pacific Investment Management Co.

    Pimco's Mohamed El-Erian said the unemployment rate is headed toward 6 percent, as the year-long global financial market turmoil continues to have a growing effect on the U.S. economy as a whole.

  • Dollar See-Saws vs. Euro after Manufacturing Data Friday, 1 Aug 2008 | 10:20 AM ET
    Dollar and Euro

    The dollar first extended and then trimmed gains versus the euro Friday after a report showed manufacturing activity in the U.S. was better than expected in July.

  • Gone Forecasting: Fly Fishing With Economic Pros Friday, 1 Aug 2008 | 9:59 AM ET

    CNBC's Steve Liesman goes fishing with the financial pros at the annual Economic Finance Retreat at Leen's Lodge fishing village in Maine. Here's what the experts had to say about the state of the economy.

  • (Not So) Happy Anniversary! Friday, 1 Aug 2008 | 9:19 AM ET

    A year after the credit crunch started what, if anything has changed, and more importantly what have banks learned? (Hint, not a lot.)

  • European Stocks Fall on Selloff in Mining Sector Friday, 1 Aug 2008 | 9:05 AM ET

    European stocks fell on Friday, knocked lower by a sharp drop in mining shares that followed falling metal prices, while automakers retreated after a profit warning from BMW and GM's massive loss.

  • China Makes Growth Its Priority as Economy Slows Friday, 1 Aug 2008 | 1:48 AM ET
    China, Chinese Flag

    Sustaining rapid growth is China's economic priority, President Hu Jintao said on Friday as an official survey pointed to a swoon in the all-important manufacturing sector.

  • Japan PM Promotes Rival, Dumps Finance Minister Friday, 1 Aug 2008 | 12:59 AM ET
    Newly elected President of the Liberal Democratic Party Yasuo Fukuda smiles while sitting in the presidential chair at the party's headquarters in Tokyo, Sunday, Sept. 23, 2007. Moderate veteran Fukuda easily won election as Japan's ruling party president Sunday, pledging to improve ties with Asia, keep a pro-U.S. foreign policy and uplift rural areas when he becomes prime minister later this week. (AP Photo/Itsuo Inouye, Pool)

    Struggling Japanese Prime Minister Yasuo Fukuda will appoint popular rival Taro Aso in a key ruling party post and replace his finance minister, Japanese media said, as part of a shake up aimed at boosting his support among voters.

  • S.Korea's July Export Growth at Four-Year High Thursday, 31 Jul 2008 | 11:53 PM ET

    South Korea's export growth in July hit its highest in over four years on strong demand from emerging countries, data showed on Friday, easing concerns over a slowdown of overseas sales in a sluggish global economy.

  • Market Insider: Friday Look Ahead Thursday, 31 Jul 2008 | 9:09 PM ET

    The jobs data is the make or break number for markets Friday. The monthly data, reported at 8:30 a.m., is expected to show a decline of 75,000 non-farm payrolls and an unemployment rate of 5.5%.

  • Manufacturing in Australia Slows Further in July Thursday, 31 Jul 2008 | 7:55 PM ET
    Austrailia, Austrailian Flag

    Manufacturing in Australia slowed in July to its lowest level since late 2005 and new orders dropped as higher interest rates and the global credit squeeze continued to crimp activity, a private survey showed on Friday.

  • Energy Independence Made Easy? Thursday, 31 Jul 2008 | 3:59 PM ET

    You got to admire the American ‘Can-Do’ spirit, which is on full throttle display since we have awoken to energy predicament. Oil sheiks got over us a barrel? Not for long! Definitely not when we really put our collective Yank minds to the problem – as we are finally beginning to do.

  • Housing, Economy Still Far From Recovery: Greenspan Thursday, 31 Jul 2008 | 3:46 PM ET
    On his last day as chairman of the Board of Governors of the Federal Reserve System, Alan Greenspan smiles as he presides over his final Federal Open Market Committee meeting at the the Fed's headquarters in Washington, Tuesday, Jan. 31, 2006. He is speaking to Deborah J. Danker, at left, special assistant to the board, with Vice Chairman Roger W. Ferguson Jr., at right. Greenspan has held the post for more than 18 years and is widely viewed as the most successful chairman in the Fed's 92-year h

    Former Federal Reserve Chairman Alan Greenspan said the US is “nowhere near the bottom” of the housing slump and is “right on the brink” of a recession.

  • US Officials Think Dollar Has Fallen Far Enough Thursday, 31 Jul 2008 | 1:42 PM ET

    Treasury Secretary Henry Paulson says the $168 billon government stimulus effort has proven to be a timely support for the economy and will continue to assist growth in the second half of this year.

  • Oil Prices May Be Unlikely Savior For US Economy Thursday, 31 Jul 2008 | 1:17 PM ET

    The US economy, desperately looking to stave off a recession, might find salvation in an unlikely place: volatile oil prices.

  • Dollar Eases On Weakness in US Economy Thursday, 31 Jul 2008 | 1:13 PM ET

    The dollar fell Thursday as news of a surprise jump in U.S. weekly jobless claims and below-forecast economic growth in the second quarter reduced prospects for Federal Reserve interest rate hikes this year.

  • Paulson Says Housing Remains Biggest Threat Thursday, 31 Jul 2008 | 1:06 PM ET

    U.S. Treasury Secretary Henry Paulson said that while tax rebates will help support the U.S. economy in the second half of the year, it faces hardships from housing woes, credit market turmoil and high energy costs.

  • White House's Lazear: No Need For Further Stimulus Thursday, 31 Jul 2008 | 11:25 AM ET

    A pickup in U.S. growth during the second quarter showed that the economy was resilient and that an emergency stimulus package was working, a senior White House adviser said on Thursday.

  • Oil Majors Make Big Profits, But Not at the Pumps Thursday, 31 Jul 2008 | 9:58 AM ET

    Furious motorists faced with high pump prices have accused oil majors of profiteering, but as the firms announced bumper profits this week, they said they were making little gasoline sales.

  • Stimulus Checks Helped Keep Economy Growing Thursday, 31 Jul 2008 | 9:35 AM ET
    Street crowd

    An emergency dose of government stimulus helped the U.S. economy grow at a 1.9 percent annual rate in the second quarter, a soft pace but enough to take it off a path perilously close to recession.

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