Economy, Economic Crisis | featured news

A severe U.S. recession will bottom out this year, but any recovery will be weak due to anemic markets and shrunken consumer wealth, the Organization for Economic Cooperation and Development said on Wednesday.

Fewer Americans believe that President Barack Obama's stimulus package will restore the nation to economic health compared to two months ago but most still approve of the job the president is doing, according to a new poll published on Monday.

The Obama administration's proposal to overhaul financial regulations, aimed in part at restoring global confidence in America's economic system, triggered a welcome but largely wait-and-see response from overseas investors and analysts.

President Obama said he was looking for a "careful balance" when sketching his blueprint to stabilize the nation's financial sector and wring from the system the kind of risky practices that propelled the country into economic turmoil.

New U.S. housing starts and permits surged in May from record lows, while producer prices rose at a slower pace despite higher gasoline prices, boosting prospects for the economy's recovery from recession.

Some risks remain, but the economy looks set for a fourth-quarter recovery.

Financial chiefs to begin focusing on how to wind down massive fiscal, monetary actions worldwide.

The number of newly laid-off Americans filing jobless claims fell more than expected last week and retail sales grew in May for the first time in three months, fresh evidence that the worst of the recession may have past.

That's the American Recovery and Reinvestment Act. Current economic indicators suggest that our economic crisis will hit bottom soon and that the U.S. will be poised for economic recovery. There are many signs pointing to an economy that shows significant signs of improvement.

The economy’s decline in the quarter was not quite as bad as the government originally believed, kindling hope that the economy could resume growing by the end of 2009.