Although economist have trimmed their estimates for second-quarter GDP, they don't believe the economy will hit a recession this year or next.» Read More
An emergency deal reached after weeks of rancorous negotiations will keep the U.S. from driving off the "fiscal cliff," but higher taxes and continued political bickering in Washington threaten to shake the fragile economy well into 2013.
The "fiscal cliff" deal will help millions of Americans avoid paying the dreaded alternative minimum tax—while making it harder for many upper-middle class taxpayers to escape it, analysts say.
You would think that the country's tax burden is suddenly astronomically high, that U.S. citizens are being forced to fork over more money to the government than ever before. The truth is the opposite.
Rep. Sander Levin, (D-MI), takes a look at the next big battles on Capitol Hill, including spending restrictions and raising the debt ceiling.
This academic says the tax and spending package passed by the Senate and House provides little prospects of improvement.
U.S. manufacturing expanded slightly in December, while a separate report showed that construction spending fell in November for the first time in eight months.
Republican Sen. Bob Corker told CNBC on Wednesday that voting for the deal to avoid the "fiscal cliff" was like "eating a you know what sandwich."
The Sandy aid bill should go to the House floor as the "first order of business" in the new Congress, Rep. Steve Israel said on CNBC's "Squawk Box."
The much-maligned peripheral economies of the euro zone are showing some encouraging signs, leading to talk of a revaluation which would have seemed optimistic for most of last year.
The United States averted economic calamity on Tuesday when lawmakers approved a deal preventing huge tax hikes and spending cuts that would have pushed the world's largest economy off the "fiscal cliff" into recession.
Following a year tainted by heightened economic uncertainty, the world's second largest economy is setting itself up for a positive 2013, say analysts, pointing to China's latest economic data and stellar equity market performance.
Barring major geopolitical shocks, the world economy in 2013 should mark the beginning of sustainably faster growth, one expert believes.
Markets are relieved that the U.S. Congress has approved a deal to avert a "fiscal cliff", but analysts warn that investors now face a rocky two months ahead as negotiations over the debt ceiling begin.
The Senate approved the "fiscal cliff" deal in a late-night vote. House GOP leaders said, "The House will honor its commitment to consider the Senate agreement if it is passed." The House meets on New Year's Day.
Pimco's Mohamed El-Erian sees a 'micro deal' where there should have been a major undertaking.
If Washington reaches this deal on the "fiscal cliff," it's only going to make the debt-ceiling fight even more ferocious.
The top leaders in both parties on the House and Senate Agriculture committees have agreed to a one-year extension of the 2008 farm bill that expired in October, a move that could head off a possible doubling of milk prices next month.
Due to the "dysfunction and polarization" in Washington the U.S. economy faces a prolonged weak outlook, Pimco's Mohamed El-Erian told CNBC.
The euro zone sovereign debt crisis is far from over even though reform measures designed to address the roots of the problem are beginning to bear fruit, German Chancellor Angela Merkel has said in her New Year's address.
Activity in China's vast manufacturing sector hit its fastest pace in December since May 2011, a survey of private factory managers showed, with a sub-index for new orders pointing to continued strength in the new year.
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