Economic Recovery | featured news

The number of newly laid-off workers seeking unemployment benefits fell for the third straight week, evidence that layoffs are continuing to ease in the earliest stages of an economic recovery.

The U.S. Federal Reserve is expected to take note of an improving economy at the close of a meeting on Wednesday, while cautioning that high unemployment puts the recovery at risk.

U.S. Treasury Secretary Timothy Geithner on Tuesday said that the U.S. economy appeared to be picking up steam and G20 leaders gathering in Pittsburgh this week would strive to ensure the recovery was balanced.

Oil prices fell 3.2% Monday, to below $70 a barrel, as further signs of weak fuel demand raised expectations that prices may have raced ahead of the nascent economic recovery.

President Obama is cautioning job creation could move slowly as the nation recovers from an economic recession. He told CNN's "State of the Union" signs point to recovery, although creation of enough new jobs could be delayed until next year.

The U.S. manufacturing sector grew in August for the first time in over a year and a half, while pending home sales surged to a two-year high in July, adding to mounting evidence the longest economic slowdown since the Great Depression is ending.

Report is better than analysts expected; new jobless claims, total benefit rolls also drop.

Consumer sentiment rose more than expected in August, an indication that Americans' pessimism about the economy may be lifting.

A closely watched index shows home prices posted their first quarterly increase in three years, signaling the housing market has turned a corner.

Investors are holding on to their optimism about the economy, sending stocks to fresh 2009 highs. Market indicators rose about 0.5 percent in midday trading Monday, following a surge in overseas markets and extending a big advance from last week.