S&P negative outlook “underestimates” U.S. ability on debt control: Treasury Department

Posted on Apr 19, 2011 in AllEconomic News

The U.S. Treasury Department said Monday that the negative outlook of Standard and Poor’s (S&P) on U.S. sovereign debt underestimated the ability of the nation’s leaders to address the difficult fiscal challenges facing the world’s largest economy. “This morning, S&P affirmed the AAA rating of the United States, but emphasized the importance of timely bipartisan [...]

U.S. trade deficit falls 2.6% in February

Posted on Apr 13, 2011 in AllEconomic News

The U.S. trade deficit dropped 2.6 percent to 45.8 billion dollars in February, with declines recorded in both exports and imports, the Commerce Department said Tuesday. In February, the world’s largest economy exported 165.1 billion dollars worth of goods, down 1.4 percent from the previous month. Imports fell 1.7 percent from January to 210.9 billion [...]

U.S. retail container traffic expected to rise 9 pct in April

Posted on Apr 12, 2011 in AllEconomic News

Import cargo volume at the U.S. major retail container ports is expected to rise 9 percent in April from the same month last year, showed the monthly Global Port Tracker report released Monday by the National Retail Federation (NRF) and Hackett Associates. NRF said that U.S. ports handled 1.1 million Twenty-foot Equivalent Units TEU) in [...]

U.S. economic growth revised downward to 2.8% in fourth quarter

Posted on Feb 26, 2011 in AllEconomic News

U.S. economic growth was revised downward to an annual rate of 2.8 percent in the fourth quarter of last year, compared with the estimated pace of 3.2 percent in January, the U.S. Department of Commerce announced on Friday. U.S. economic growth revised downward to 2.8% in fourth quarter – People’s Daily Online.

U.S. manufacturing sector grows for 17th straight month in December

Posted on Jan 4, 2011 in AllEconomic News

The U.S. manufacturing sector grew for the 17th consecutive month in December, fresh evidence of the ongoing economic recovery, a leading industry survey showed on Monday.The U.S. Institute of Supply Management (ISM) manufacturing index, also known as the purchasing managers index, stood at 57 percent in December, higher than the reading of 56.6 percent in [...]

Dollar slumps as investors worry about U.S. budget deficit

Posted on Dec 14, 2010 in AllEconomic News

The U.S. dollar fell broadly against major currencies in late New York trading on Monday as investors worried about U.S. budget deficit due to probable tax cut extension.Moody’s warned on Monday that it could move a step closer to cutting the U.S. Aaa rating if President Barack Obama’s tax and unemployment benefit package becomes law.The [...]

Enhanced China-U.S. economic ties benefit both on possible bumpy road

Posted on Dec 14, 2010 in AllEconomic News

As the 21st session of the China-U.S. Joint Commission on Commerce and Trade (JCCT) is to start here on Tuesday, experts say the two nations will further improve their economic ties and address issues of mutual concern through the high-level dialogue.It is no exaggeration that collaboration between the world’s largest advanced economy and the largest [...]

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