Stories related to: economy

A perfect storm of economic maladies has the US economy reeling on the edge of recession and officials struggling to limit the damage it causes, reports the New York Times. But many economists say there isn’t much the government or policy makers can do besides batten down the hatches and, in the words of a Charles Schwab analyst, “let the system wash it out.” More »

Consumer prices were flat for February, pleasantly surprising economists who expected a 0.2% increase, reports the Wall Street Journal . This morning’s consumer price index eases concerns that inflation is accelerating as the economy slows, and it gives the Federal Reserve more reason to float a large interest rate cut next week. A drop in energy prices was credited with the inflation relief, likely to be short-lived as this month's record oil and gas prices are factored into the next reports. More »

A cascade of bleak financial news has convinced most economists in a Wall Street Journal poll that the US is already in a recession. The results are markedly more negative than a similar survey only five weeks ago, and much of the foul mood can be traced to last week’s dismal employment report. “The evidence is now beyond a reasonable doubt,” said one. Of the 51 economists polled, 71% said recession had arrived. More »

Stoking fears of recession, US retail sales fell in February by .6%, the Wall Street Journal reports, despite economists' predictions of a 0.1% increase. Sales had been up a revised 0.4% in January. Factors cited in the decline include rising gas prices, falling home values, the credit crunch, and a soft job market, with 63,000 jobs disappearing in February. More »

Spain's Socialist Party overcame a sputtering economy and the murder of a former councilor to win today's national election, the BBC reports. "The Spanish people have spoken clearly and have decided to open a new period without tension, without confrontation," Prime Minister Jose Luis Rodriguez Zapatero told a crowd of supporters in Madrid. More »

Spain goes to the polls Sunday after a bitter campaign in which the prime minister and his rival have traded insults and accusations of lying. Prime Minister José Luis Rodríguez Zapatero has maintained his slight lead and did well in this week's debate, but a raft of bad economic figures released yesterday has rocked the government as the race enters the home stretch, reports the Times of London. More »