To stabilize US economy and the financial system, the Federal Reserve has announced to offer another $800bn stimulus. According to the US Treasury Secretary Henry Paulson, the package has been announced for the availability of more lending to consumers. The new package will be used to buy mortgage-backed securities and thaw out the freezing consumer Read more
Figures from the commerce Department show that between July and September, the US economy has shrunk at an annualized rate of 0.3%. Though they showed the sharpest contraction of the economy since 2001, the gross domestic product (GDP) figures were better than expected. On the other hand, consumer spending that constitutes two-thirds of the US Read more
Because of the stricken US economy and the falling dollar, Mexicans are sending less money to their homes. According to Mexico’s central bank, the sharpest fall was recorded in remittances during July that was 6.9% down compared to the same period last year. Besides oil revenues, remittances are counted Mexico’s second largest legal source of Read more
According to the US Commerce Department, a 3.3 percent growth was noted in the US economy during the second quarter and it was much higher than the expected 1.9% growth. This growth is being considered a result of strong exports, weaker dollar and tax rebates that help to boost consumer spending. During the first quarter, Read more
During July, a considerable increase was noticed in big-ticket orders for the US factories. It indicates continued progress in export sales and a boost to business investment that has been decreasing in recessive economic conditions in the US for the past many months. However, some economists seem worry as they believe that increasing economic weakness Read more