Economy, Economic Recovery | featured news

As they try to recover, the U.S. and Europe could use a refresher course in Eastern studies.

Layaway, once the province of the poor, has gone mainstream. At the Mall of America in Minnesota, shoppers dart in for just one or two things. In New York, socialites do the unthinkable: They wear the same ball gown twice.

President Barack Obama said Tuesday's elections, in which Republicans won control of the House of Representatives and gained seats in the Senate, signaled that Americans were frustrated with the pace of economic recovery.

U.S. small-business owners believe a U.S. economic recovery is unlikely to accelerate before the second half of 2011 amid worries about issues such as healthcare costs, according to a quarterly survey.

Retail sales in the U.S. climbed more than forecast in September, easing concern that unemployment stuck near a 26-year high will bring the recovery to a halt.

Congressional lawmakers scramble to come up with quick fix to the foreclosure fiasco that has threatened the economic recovery and thrown a monkey wrench into their re-election campaigns.Up to 40 States Plan Foreclosure Data Inquiry

Retailers should see their best Christmas sales in four years as consumers now show some inclination to spend money despite a minimal recovery in the economy, according to series of recent forecasts.

On the day that the Great Recession was officially declared to be part of history, President Obama confronted deepening angst from business leaders and ordinary Americans who have little faith that the recovery is for real.

New claims for unemployment benefits fell more than expected last week to their lowest level in two months, a hopeful sign for the troubled labor market.

Consumer spending rose at the strongest pace in four months in July, supported by a small gain in incomes, offering hope that consumers will be able to keep contributing to a modest recovery.