Chinese manufacturing grew at its fastest pace on record in December, data showed on Monday, while U.S. factories marked their best month in nearly four years, suggesting more improvement in the world economy.
Factories in Asia stepped up production in December, with China's output growing at its fastest pace on record, suggesting economic activity is gathering pace in the region that is leading the global recovery.
The U.S. economy and job market will rebound only gradually because of ongoing constraints on lending, Federal Reserve Board Vice Chairman Donald Kohn said on Sunday.
China's economic growth looks set to accelerate into the new year, with booming factories driving a December manufacturing survey to a 20-month high while South Korea's exports to the country surged on strong demand.
A historic economic crisis has left Americans with plenty of things to worry about. But is inflation one of them? And is there a risk that fretting over higher prices may actually bring them about?
Japan's government said it aimed for economic growth of more than 2 percent over the next decade, but its long-term plan unveiled on Wednesday lacked detail needed to convince investors the goal is realistic.
The Chinese government is highly concerned by fast-rising property prices in some cities and will work to combat speculation, Premier Wen Jiabao said in an interview broadcast on Sunday.
China needs to keep its economic policies flexible to fight against excessive surges in asset prices and hot money inflows, a central bank adviser said over the weekend.
(James Saft is a Reuters columnist. The opinions expressed are his own)
Consumer sentiment improved in December from November on some income growth and less gloomy job conditions, a survey showed on Wednesday.
Consumer spending rose for a second straight month in November as incomes recorded their biggest gain in six months, data showed on Wednesday, boosting hopes of a self-sustaining economic recovery.
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Charles Evans, president of the Chicago Federal Reserve Bank, said on Monday he expects the U.S. economy to grow 3.0 to 3.5 percent over the next 18 months, but that low inflation will give the central bank room to keep monetary policy easy for an extended period.
Charles Evans, president of the Chicago Federal Reserve, said on Monday he expects the U.S. economy to grow 3 to 3.5 percent in 2010, but that low inflation will give the central bank room to keep monetary policy accommodative for an extended period.
The Federal Reserve on Wednesday voiced growing optimism on the U.S. economy as job losses slow, but repeated a vow to keep interest rates unusually low for an extended period.
U.S. consumer prices rose modestly last month, while new home building bounced back from an October slump, suggesting inflation is not yet a concern even as the economy's recovery moves forward.
The Federal Reserve on Wednesday seized on easing U.S. job losses to voice growing optimism on the economy's prospects, but repeated a vow to keep interest rates unusually low for an extended period.
The Federal Reserve on Wednesday voiced guarded optimism the battered U.S. job market was improving, but it repeated a vow to keep interest rates extraordinarily low for an extended period.
U.S. stocks rose on Wednesday as a benign reading on the November Consumer Price Index bolstered expectations that the Federal Reserve will keep its accommodative monetary stance to foster an economic recovery.
Stocks rose on Wednesday after data showed consumer prices did not overheat in November, quelling inflation worries, while housing data pointed to sustained recovery ahead of a Federal Reserve statement on the condition of the U.S. economy.
(Corrects figure for November housing starts to 574,000 units in paragraph 8)
The Federal Reserve is expected to stick to its highly accommodative monetary policy when it wraps up a two-day meeting on Wednesday, with high unemployment constraining enthusiasm about an improving economy.
