Economists shaved growth expectations for the second quarter after the June durable goods report revealed weak shipments and dampened hopes for business spending.» Read More
A group of large US retailers reported higher sales for July, but had to resort to bargains to lure shoppers who are still careful in their spending while the job market recovers.
Global food prices could decline further in coming months, the United Nations' food agency said on Thursday, pointing to prospects of abundant grain supplies.
The number of Americans filing new claims for jobless benefits rose slightly last week but was near its lowest level since before the 2007-09 recession.
Americans borrowed more in June to buy cars and attend schools. But they were frugal again with their credit cards, as many remain wary of taking on high-interest debt.
The lobster industry is being crippled by a glut of supply that many attribute to climate change, sending the price per pound plummeting and making the crustacean affordable.
US consumer credit rose less than expected in June - to $2.8 trillion - held back by the largest decline in credit card use in a year as households continue to pay down debts.
A monthly gauge of U.S. employment held steady in the latest week, underscoring little movement in overall hiring yet showing a "significant decline" in federal government jobs.
Potential buyers crept back into the U.S. housing market last week as applications for mortgages edged up, even though rates resumed their ascent.
There's no reason the Fed should taper asset purchases and instead the government needs to increase spending, said Byron Wien, vice chairman of Blackstone Advisory Partners.
The U.S. trade deficit narrowed sharply in June to its lowest level in more than 3-1/2 years as imports reversed the prior month's spike.
Beneath the signs of recovery is one of the most poorly funded pension systems in the nation, threatening to challenge the city’s finances for years to come.
Emerging middle class-consumers in countries such as India and China are pushing up prices for everything from food to diamonds.
President Obama is playing politics with his choice for Fed chair, but he'll get his nominee confirmed, said Glenn Hubbard, advisor to Romney's 2012 presidential campaign.
The pace of growth in the US services sector accelerated in July, picking up from a three-year low as new orders surged to their highest level in five months.
Bucking widespread expectations on Wall Street, the Fed won't begin to scale back its bond buying before year-end, said Jeffrey Saut, chief investment strategist at Raymond James.
U.S. consumer spending has remained largely flat for the last three months, Gallup reported on Monday, in contrast to other indicators suggesting otherwise.
The growing trend among Americans to choose urban living over the suburbs is causing many home builders and mall operators to change their business models, says Leigh Gallagher, "The End of Suburbs" author.
Job growth continued in July as the U.S. economy added another 162,000 jobs—enough to keep the recovery theme going but not a level likely to have a major effect on monetary policy.
U.S. consumer spending increased and inflation pushed higher in June, which could strengthen expectations of the Federal Reserve curtailing its bond purchases later this year.
The Fed's tapering is "almost a given," but there won't be enough economic growth to justify the reduction, Pimco's Mohamed El-Erian tells CNBC.
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