Economic Recovery, Slow Recovery | featured news

The government said the economy shed 85,000 jobs last month, surprising forecasters, while the unemployment rate held steady at 10 percent.

The United States economy is out of the emergency room and appears to be on a slow path to recovery, Warren Buffett wrote in an opinion column in the New York Times.

U.S. consumers spent more in June and pending sales of previously owned homes also rose, data issued on Tuesday showed, but the biggest drop in incomes in four-and-a-half years pointed to a slow recovery from the worst recession in decades.