Economy, Shrinking Economy | featured news

Soaring unemployment and a shrinking economy drove delinquencies on credit card debt to an all-time high in the first quarter.

The U.S. economy shrank slightly less in early 2009 than previously thought, the government reported on Thursday, though there was widespread weakness in activity and demand was soft.

Underscoring the risk that hopes for a quick turnaround may be premature, the World Bank said Thursday that it expected the global economy to shrink nearly 3 percent in 2009, far deeper than the 1.7 percent contraction it ...

The economy’s decline in the quarter was not quite as bad as the government originally believed, kindling hope that the economy could resume growing by the end of 2009.

Japan's economy recorded its steepest contraction on record in the first quarter, sliding 4%.