2009, December | featured news

China gave up its title to Japan as the largest holder of U.S. Treasury securities in December as foreigners bought U.S. assets at a brisk pace.

The government said the economy shed 85,000 jobs last month, surprising forecasters, while the unemployment rate held steady at 10 percent.

U.S. retailers largely saw a strong finish to the 2009 holiday season even though sales fell at apparel chains and department stores in December, according to MasterCard Advisors' SpendingPulse.

Before leaving for Asia, the president discloses plans for a December event to highlight efforts to turn around the economy.