Sales of new U.S. single-family homes rose to a six-year high in September, increasing 0.2 percent, according to the Commerce Department on Friday.» Read More
The pace of growth in the U.S. services sector increased slightly in November while U.S. factory orders expectantly rose in October.
Nonfarm productivity increased at a much faster clip than initially thought as businesses held the line on hiring even as output surged, with unit labor costs falling at their fastest pace in almost a year.
The private sector created 118,000 jobs in November, primarily thanks to service-related jobs, a number that missed expectations ahead of Friday's closely watched government report.
The British economy has performed less strongly than expected and a crisis in the euro zone will constrain growth for several years, finance minister George Osborne said in a budget update to parliament on Wednesday.
Chinese stocks, which have had a forgettable year so far, climbed 3 percent on Wednesday, after the country's new leadership promised further reforms. But is the rally that has fizzled out many times in the past here to stay?
The United States may have the world's largest economy, but it does not even crack the top ten percent when it comes to a perceived lack of corruption, according to Transparency International.
President Obama says that while tax rates must go up for a "fiscal cliff" deal, it may be possible to lower rates at the top end of the scale late next year as part of tax reforms.
"What some people are calling a 'bungee jump' could cause an economic heart attack," says BofA economist Ethan Harris.
Bank of America CEO Brian Moynihan said "fiscal cliff" uncertainty has already hurt 2013 business spending and said the failure to reach a resolution presents not only a near-term recession risk, but also the possibility of longer negative effects.
Governments and economists from elsewhere in the developed world are looking East for a clue to the long-term consequences of loose monetary policy.
Spain's number of jobless rose by 1.5 percent in November from a month earlier, or by 74,296 people, leaving 4.9 million people out of work.
Detroit's fiscal clock is ticking down again as the city faces running out of money by the end of the year unless a political squabble between the mayor and city council can be resolved.
In line with expectations, the Reserve Bank of Australia (RBA) delivered a 25 basis point rate cut on Tuesday, taking the benchmark interest rate to 3 percent - its lowest level since 2009. However, analysts remain divided on whether the central bank will push rates even lower next year.
Greece's economy is in recession but there are reasons to be upbeat and the debt-laden nation will be able to rebound strongly as it works its way through reforms, European Central Bank governing council member Christian Noyer told CNBC.
Republicans proposed steep spending cuts on Monday but gave no ground on President Barack Obama's call to raise taxes on the wealthiest in their first formal proposal to avert a "fiscal cliff" that could push the U.S. economy into recession.
Have a 'fiscal cliff' question? Ask Obama.
Americans hate paying taxes. They also want Congress and the White House to balance the budget. That decades-long conflict seems to be approaching a Moment of Truth.
President Obama and Democrats have "a mantra, but they don't have a plan," said former House Majority Leader Dick Armey.
President Obama may get Republican cooperation in soaking the rich, but the deal that emerges could put the nation in dire straits by the end of the decade.
U.S. manufacturing unexpectedly contracted in November, falling to its lowest in over three years in a sign the sector may be struggling to gain traction.
Get the best of CNBC in your inbox