UK trade deficit widens more than expected in June; economists forecast future narrowing

LONDON — Britain’s trade deficit widened a little more than forecast in June, official figures showed Tuesday, suggesting that weakness in the pound is not benefiting exporters quite as much as expected.

Japan’s core machinery orders jump 9.7 percent in June from month earlier

TOKYO —Japan’s core machinery orders, a closely watched indicator of corporate capital spending, jumped in June for the first time in four months, the government said Monday.

Analysis: Think of clunker cash as an economic shot in the arm, not a long-term fix

WASHINGTON — The popular “cash-for-clunkers” program may be a well-timed shot of adrenaline for the economy, but it’s not a prescription for a lasting recovery.

Survey: China manufacturing growth hit 12-month high in July, boosted by domestic demand

BEIJING — China’s manufacturing expanded in July at its fastest rate in a year as domestic demand offset sluggish exports, a survey showed Monday, highlighting the importance of Beijing’s huge stimulus in driving Chinese growth.

July jobs report out next week likely to show far fewer layoffs than in June, economists say

WASHINGTON — Fewer people are claiming jobless benefits, leading economists to project that next week’s employment report will show a sharp drop in job losses for July compared with June.

India central bank leaves interest rates unchanged, says economic growth could beat forecasts

NEW DELHI — India’s central bank left interest rates unchanged Tuesday and said Asia’s third-biggest economy could grow faster than forecast as it emerges from the global credit bust.

Contraction in Britain’s economy in second quarter dashes hopes of an imminent recovery

LONDON — The British economy contracted by twice as much as economists had forecast in the second quarter, leaving it mired in recession and dashing recent hopes of an imminent recovery as premature.

UK 2Q GDP down 0.8 percent, worse than expected and fifth straight quarter of decline

LONDON — Britain’s economy shrank by 0.8 percent in the second quarter, official figures showed Friday, marking the fifth straight quarter of declines in a severe recession and worse than analysts’ forecasts of a drop of 0.3 percent.

US home sales expected to show third consecutive monthly increase in June

WASHINGTON — A real estate trade group’s report is expected to show that sales of previously occupied homes inched up in June, a third straight monthly increase.

Stocks post modest gains after weeklong surge; Bernanke says economy is slowly improving

NEW YORK — The stock market managed to extend its weeklong rally even as it struggled with more worries about the banking industry.

White House must revise budget figures to reflect severity of recession, but takes its time

WASHINGTON — The White House is being forced to acknowledge the wide gap between its once-upbeat predictions about the economy and today’s bleak landscape.

ALL BUSINESS: Troubled labor market threatens a significant turnaround in US economy

NEW YORK — All the talk about a “jobless recovery” being ahead for the economy misses the point. There won’t be much of a recovery at all if the labor market stays in such dire straits.

Prices rise in June, but economists say it’s just a blip _ falling prices the bigger threat

WASHINGTON — Sharply higher prices for everyday goods in June reflected a surge at the gas pump, not the start of a dangerous bout of inflation. In fact, economists say falling prices are the bigger danger.

Meltdown 101: A trillion dollars in red ink _ and the budget year isn’t even over yet

WASHINGTON — In a year of eye-popping numbers, add one more: The government’s annual budget deficit has topped $1 trillion.

Obama: World has averted economic disaster but full recovery ’still a ways off’

L’AQUILA, Italy — Lasting worldwide recovery “is still a ways off,” President Barack Obama declared Friday, but he also said at the conclusion of a global summit that a disastrous economic collapse apparently has been averted.

Trade deficit unexpectedly narrows to $26 billion in May, lowest level in more than 9 years

WASHINGTON — The U.S. trade deficit fell to the lowest level in more than nine years in May as exports posted a small gain while the weak American economy pushed imports down for a 10th straight month.

Dollar climbs on mixed IMF outlook, consumer borrowing as investors seek safe havens

NEW YORK — The dollar continued to climb Wednesday as investors moved more assets into the safety of the American currency after consumers trimmed borrowing in May for the fourth straight month and the International Monetary Fund gave a mixed outlook on the economy.

Stocks pare early gains amid mixed IMF report on global economy, falling oil prices

NEW YORK — A mixed outlook on the economy from the International Monetary Fund and falling commodity prices are sending stocks lower.

China says June lending surges to more than double May level amid stimulus spending

BEIJING — China’s bank lending in June more than doubled from the previous month as Beijing’s stimulus drove a surge in credit that has prompted concern about the possible impact of such a rapid increase.

Chinese central bank researcher says second quarter economic growth might top 7.5 percent

BEIJING — China’s economy is improving and growth might top 7.5 percent for the quarter that ended in June, a central bank researcher said in an official journal.

Employers cut larger-than-expected 467,000 jobs in June; jobless rate ticks up to 9.5 percent

WASHINGTON — Employers cut a larger-than-expected 467,000 jobs in June and the unemployment rate climbed to a 26-year high of 9.5 percent. Workers also saw weekly wages fall, suggesting Americans will have little appetite to spend and the economy’s road to recovery will be bumpy.

ADB: Asia set for mild economic recovery in 2010, sustained growth will take longer

MANILA, Philippines — Asia is set for a mild economic recovery from the global financial crisis in 2010 after bottoming out this year, the Asian Development Bank’s chief economist said Thursday.

June jobless rate seen rising to 9.6 percent, expected to keep climbing after recession ends

WASHINGTON — Out-of-work with no place to land, the legions of America’s unemployed are growing.

Economist: Midwest, Plains survey suggests economic improvement, but job losses persist

OMAHA, Neb. — A survey of business leaders in nine Midwestern and Plains states suggests that the region’s economy continues to show signs of improvement, but job losses persist.

Chinese surveys show manufacturing expanding in June but job growth still weak

BEIJING — China’s manufacturing expanded in June, adding to signs the world’s third-largest economy is rebounding from the collapse in global trade, but few new jobs were created, according to two surveys released Wednesday.

International Energy Agency sees oil demand up 0.6 percent a year over ‘08-’14 period

PARIS — World oil demand is likely to grow by an average of 0.6 percent annually over the 2008-2014 period, the International Energy Agency forecast Monday, revising its mid-term expectations downward amid the global recession.

OECD sees recession nearing bottom, but warns recovery may be weak

PARIS — The deepest global recession in over 60 years is close to bottoming out, but recovery will be weak unless governments do more to remove uncertainty over banks’ balance sheets, the Organization for Economic Cooperation and Development (OECD) said Wednesday.

Asian stocks tumble after World Bank projects more economic gloom; Europe shares down

World stocks fall amid fears of more economic woes

HONG KONG — Asian stock markets tumbled Tuesday, knocked by heavy losses on Wall Street after the World Bank warned of a sharper contraction in the world economy. European markets were lower in early trade. Benchmarks in Tokyo, Hong Kong and elsewhere in Asia sank around 3 percent in a broad-based rout as the bank’s gloomy forecast undermined hopes of a quicker end to the worst recession in decades. Crude oil prices and the dollar also declined.

Asian stocks tumble after World Bank projects more economic gloom; Tokyo, HK off 3 pct

HONG KONG — Asian stock markets tumbled Tuesday, knocked by heavy losses on Wall Street after the World Bank warned of a sharper contraction in the world economy.

Treasurys rise as gloomy economic outlook from World Bank sends investors in search of safety

NEW YORK — Treasury prices rose for a second consecutive trading day Monday as investors clamored for the safety of government debt amid a sharp sell-off in stocks and commodities.