It was the first contraction in three months. But don't blame the weather, unless you mean the climate in Washington.
The U.S. stock index futures pointed to a higher open Wednesday ahead of the Commerce Department's retail sales report.
Data releases this week are expected to show some of the economic impact caused by Sandy.
U.S. retail sales for October will likely be down, especially factoring in car and gas purchases. Consider it the Hurricane Sandy effect.
Some skeptics have questioned whether the upbeat reading on China's economic activity can be believed.
Upcoming October data may offer further evidence that China's economy has bottomed out.
This week, the two largest economies will have political transitions, three central banks will meet, and Greece's parliament is set to vote on key reforms.
Retailers are looking ahead to the effects that Superstorm Sandy may have on consumers in the coming months.
The U.S. employment situation summary Friday will carry the most weight, because it will be the last jobs report before Election Day.
Even a deep recession in Europe wouldn't be sufficient to snuff out the U.S. recovery completely.
The U.S. economy probably expanded at a slightly faster pace in Q3, but a sustained acceleration in GDP growth is unlikely.
Asian stock markets advanced Thursday as concerns over a sharper slowdown in the world's second largest economy eased after China reported the third quarter economic activity data in line with expectations.
Crude oil prices advanced slightly and hovered above $92 a barrel in Asia Thursday as better-than-expected economic reports from the U.S. and China eased concerns over the global growth slowdown.
Barack Obama and Mitt Romney will cover both domestic and foreign policies during the second U.S. presidential debate Tuesday.
The U.S. stock index futures point to a lower open Monday after the rally seen last week following the announcement of the Federal Reserve's plan to buy mortgage securities.
U.S. stock index futures pointed to a higher open Friday as investors kept up a buoyant mood following the announcement of quantitative easing measures by the Federal Reserve, which is expected to boost economic growth.
If, as one analyst expects, Apple sales of its new iPhone 5 -- estimated to cost about $600 each -- reaches 8 million, it could boost the GDP of the U.S. by half a percentage point.
Michael Feroli, JP Morgan's chief economist, said in a new research note to clients that sales of the new version of the iPhone could add between a quarter and a half percentage point to fourth quarter annualized GDP growth in the U.S.
China's factories ran at their slowest rate for 39 months in August, the government reported Sunday.
A slowdown in exports, a slump in the earnings of domestic companies and surging food prices cast downward pressure on the world's second-biggest economy in August as the China's National Bureau of Statistics reported Sunday that the Consumer Price Index rose 2 percent.
China's factories ran at their slowest rate for 39 months in August while a double-digit rise in fixed asset investment showed that infrastructure spending remained key to economic growth.
Asian stock markets ended with gains last week after the European Central Bank (ECB) announced plan to reduce borrowing costs of struggling euro zone countries’ and news that Chinese regulators had approved another batch of infrastructure projects, which should stabilize and restore growth in the world's second largest economy. Market participants’ are likely to focus on Federal Open Market Committee (FOMC) interest rate decision on September 13th.