In what felt like an unexpected slap, US factory production shrank in November, the Institute for Supply Management’s factory index falling to 49.5 (50 marks the dividing line between expansion and contraction) from 51.7 in October instead of the expected 51.4. It’s the biggest contraction since July 2009, a clear sign of fiscal cliff angst.
A country divided about economic uncertainties and foreign affairs issues is indulging in oversized family dinners this Thursday. Thanksgiving Day revives the Pilgrims’ legacy of the XVII century, the feast that became national holiday on 1863 thanks to President Lincoln. And it is also considered the Super Bowl of the big boys of retail.
As anger and despair over austerity spread in Europe, more US analysts are expressing their solidarity towards protesters and skepticism towards policy makers. A turning point was IMF’s shift, saying that tax hikes and spending cuts causing far more economic damage than experts had assumed.
The biggest economy is playing with fire should Washington lawmakers fail to agree on a reasonable plan to redress its burgeoning deficit.
This 2012 Black Friday edition American giant retailer Wal Mart is facing the biggest protests in its 50-year-history.
Democrats just took again the White House for the next four years, but President Barack Obama-starstruck Europe must face the facts: it is no longer considered a strategic priority or asset by the United States.
New York correspondent Ana Fuentes explains just-reelected President Barack Obama his duties, at home and abroad. The (T) party is finished, it’s time to work.
From presseurop.eu | Debt-burdened Europe has stretched its diplomatic links to China authorities a never before. Whether the EU wants to tap its rich-in-cash economy or improve trade relations, Beijing seems to hold the strongest cards.
One week after Sandy, estimated costs have climbed to as much as $50 billion. Some New Yorkers start movement Occupy Sandy to help those in distress.
Enric Fernández, in Barcelona | In spite of their differences, both candidates are aware that the country needs a credible adjustment plan. And, in fact, neither the United States nor the world economy can allow themselves to prolong, for too long, the uncertainty regarding the sustainability of the public finances of the world’s leading economy.