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US isolates North Korea’s economy for pursuing nuclear weapons

The United States government hit North Korea with more sanctions on Friday for pursuing nuclear weapons. As many as 11 North Korean businesses and an industrial firm are facing the brunt of the sanctions, including Paeksol Trading Corporation, for acquiring

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US economy grows at 2.1% in 4Q

The US Department of Commerce has recorded a 2.1% growth in the country’s GDP in the October-December period. The figure is an improvement from the previous estimate of 1.9% and is linked to stronger consuming spending. “Consumer spending will lead

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Easy money tap not drying up soon in the US, says Ben Bernanke

The US central bank is nowhere close to raising interest rates, assuring markets that the easy money tap was still on, US Federal Reserve Chairman Ben Bernanke says. “I don’t think the Fed can get interest rates up very much,

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US 2013 budget cuts ‘excessively rapid and ill-designed’- IMF

The International Monetary Funding (IMF) in its annual report on the world’s biggest economy called the deficit reduction of the US in 2013 excessively rapid and ill-designed. According to the report, reductions in education, science and infrastructure spending would hurt

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US economy adds 175,000 jobs in May

BBC News-US employment rose by slightly more than economists had predicted during May. The latest US non-farm payrolls show that 175,000 jobs were created last month. But the unemployment rate increased slightly to 7.6%. Shares had mostly fallen in the

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US manufacturing sector grew at its slowest pace in six months

The US manufacturing sector’s growth was at its worst in six months during April. According to Research Firm Market, the Purchasing Manager’s Index fell from 54.6 to 52, slightly above the 50 level, marking the line between growth and contraction.

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Why Fiscal Cliff Deal Fails To Neutralize Debt Ceiling Hostage

What is Fiscal Cliff Deal? The term fiscal cliff has been used at various occasions in the past to refer to fiscal issues. It is already known to the public that Congress created the fiscal mess that it is currently squabbling over. Furthermore, it is quite surprising to see it

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EU-US trade deal to boost economic growth

In their recent trade deal talks, the US and the EU recently agreed on a free-trade agreement that is expected to boost their economics and generate hundreds of thousands of jobs. Suffering from an economic slowdown, the trade agreement is

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State of the Union: Obama pledges to reignite economy

President Barack Obama has urged Congress to back government action to revive the sluggish US economy, in his annual State of the Union speech. The Democratic president promised “smarter” rather than bigger government for “the many, and not just the

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Tentative Deal Is Reached to Raise Taxes on the Wealthy

The New York Times-Furious last-minute negotiations between the White House and the Senate Republican leadership on Monday secured a tentative agreement to allow tax rates to rise on affluent Americans, but not in time for Congress to meet its Dec.

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US unemployment hits 4-year low

US unemployment rate in November was down to a four-year low of 7.7%, after the US added 146,000 jobs. The figure was well above most analysts’ expectations. “Our analysis leads us to conclude that Hurricane Sandy did not substantively impact

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US consumer confidence jumps in November

According to a survey, US consumer confidence has once again reached the highest level in four and a half years. The Conference Board’s Consumer Confidence Index rose to 73.7 from 73.1 in October. Both being the best readings since February

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US economy add 171,000 new jobs

The US economy added 171,000 new jobs in October; however, unemployment rate still rose to 7.9% from 7.8% in September. There are more workers now who have resumed looking for jobs; hence, causing the unemployment rate to jump back up.

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US consumer confidence at its highest in 5 years

The latest improvement in the US job market has resulted in a jump in the US consumer confidence, rising to 72.2. The US consumer confidence is an important economic indicator, as consumer spending forms about 70% of the overall economic

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US economy grows at a rate of 2%

The US economy expanded at an annualized rate of 2% in the third quarter, the Commerce Department said. The growth is partly due to an increase in the government spending: Federal government expenditures and gross investment increased 9.6% compared with

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US unemployment at its lowest since 2009

The US unemployment rate last month fell at 7.8%, down from 8.1% in August. The US economy added a further 114,000 jobs in September, beating expectations. The figure is certainly good news for Barack Obama whose performance was widely criticized

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IMF cuts global growth forecast

Amid continuing economic tensions in the Eurozone and disappointing growth rate of the US economy, IMF looks likely to cut its forecast for global growth. IMF head Christine Lagarde, speaking in Washington, said on Monday: “We continue to project a

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US Home Sales Jump To Highest Level In More Than 2 Years

A jump in sales of previously occupied homes and further gains in new home construction suggest the U.S. housing sector is gaining momentum. Prices for such homes also rose according to figures from the National Association of Realtor (NAR). The

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U.S. economy grew more than expected in second quarter

The U.S. economy grew more than previously estimated in the second quarter, according to a report released on Wednesday by the Federal Reserve. Growth domestic product grew by 1.7% from April to June, more than the government’s previous estimate of

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No miracle cure- US economy

Bucking up this recovery is harder than it was in the past IF THERE is a theme to the American presidential campaign, it may be: “Imagine the alternative”. President Barack Obama’s campaign will argue that his actions prevented an economic

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Lukewarm Economic Recovery of the US

According to the annual report from the International Monetary Fund (IMF) US economic remains tepid. The recovery process can potentially face risks from the Eurozone debt crisis combined with the uncertainties surrounding domestic policies, with an election in November and

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US Fed chairman Bernanke 'ready to act' on economy

The chairman of the US Federal Reserve Bank said he is monitoring risks to the economy and is prepared to take action. Ben Bernanke was giving testimony to the US Congress, something which has been closely watched by investors looking

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US Fed chairman Bernanke ‘ready to act’ on economy

The chairman of the US Federal Reserve Bank said he is monitoring risks to the economy and is prepared to take action. Ben Bernanke was giving testimony to the US Congress, something which has been closely watched by investors looking

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Fed chief Ben Bernanke says recovery not complete

US Federal Reserve Chairman Ben Bernanke has said the US economy is yet to fully recover from the impact of the global financial crisis. Mr Bernanke said that more regulatory action was needed to ensure the stability of the financial

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