United States employers unexpectedly cut jobs in February at the steepest rate in nearly five years, a second straight month of employment losses that heightened fears the world’s largest economy has skidded into recession. ”The question appears no longer to be are we going into a recession but how long and deep it will be,” said economist Joel Naroff.
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/ 30 January 2008
United States growth skidded lower in the fourth quarter and was the weakest in five years for all of 2007, according to a government report on Wednesday that highlighted the toll an enfeebled housing sector has taken on the national economy. The dollar’s value declined against other major currencies on the soft GDP data.
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/ 13 December 2007
United States Treasury Secretary Henry Paulson came away from two days of talks on Thursday convinced that China sees the need for a stronger yuan. Although the grand-sounding ”strategic economic dialogue” apparently produced slim pickings, Paulson said it provided a sound foundation on which to expand cooperation.