[01/30/14]  Highest consumer spending levels in three years boosted growth, which had been hit by higher taxes and federal spending cuts. The US economy expanded at an annual rate of 3.2% in the last three months of 2013, the Commerce Department said on Thursday, as consumers and businesses largely ignored a government shutdown and fight over the debt ceiling. The pace of growth slowed from 4.1% in the previous quarter but still means that US gross domestic product (GDP) the broadest measure of goods and services produced across the economy, grew at an annual rate of 3.7% in the last half of 2013, a pace unseen since 2003. A...

[1/3/14]  Ben S. Bernanke said the headwinds that have held back the U.S. economy may be abating, leaving the country poised for faster growth as his tenure as Federal Reserve chairman comes to an end. “The combination of financial healing, greater balance in the housing market, less fiscal restraint, and, of course, continued monetary policy accommodation bodes well for U.S. economic growth in coming quarters,” Mr. Bernanke said Friday in a speech in Philadelphia. “Of course, if the experience of the past few years teaches us anything, it is that we should be cautious in our forecasts.” Mr. Bernanke used his remarks to reflect on his eight years...

[12/29/13]  The world economy should snap a three-year stretch of slowing growth in 2014, although the upturn over the next 12 months looks likely to be incremental rather than a leap forward. With stock markets rallying in the twilight days of this year and recent indicators for major economies looking brighter, confidence among investors and analysts is high going into 2014. The U.S. Federal Reserve provided a concrete example of that optimism earlier this month when it decided to start curtailing its unprecedented monetary stimulus, based on the strength of recent signals from the economy. The International Monetary Fund, in its October set of forecasts, expects global economic growth...

[12/26/13]  The number of Americans filing new claims for unemployment benefits fell last week to the lowest level in nearly a month, a hopeful sign for the labor market, while holiday retail sales rose in November and December. Initial claims for state unemployment benefits decreased 42,000 to a seasonally adjusted 338,000, the Labor Department said on Thursday. While the holiday season has made recent claims data so volatile it has been difficult to interpret, Thursday's report showed claims continue in a range that supports expectations for faster economic growth next year. "With labor markets on the mend and consumer confidence on the rise, we look for broader economic improvement...

[11/29/13]  U.S. stocks rose for an eighth straight week, driving the Standard & Poor’s 500 Index to the longest rally in almost a decade, as data on employment and consumer sentiment boosted confidence in economic growth. Tiffany (TIF) & Co. jumped 9.9 percent on better-than-estimated profit, pacing gains among retailers as investors speculate that an improving labor market and falling gas prices will stimulate holiday sales. Apple Inc. climbed 7 percent, helping lift the Nasdaq Composite (CCMP) Index above 4,000 for the first time in 13 years. Hewlett-Packard (HPQ) Co. surged 8.3 percent as revenue and earnings beat analysts’ estimates. Exxon Mobil Corp. slipped 1.6 percent as energy shares retreated on falling oil...