United States

Thursday, August 4th 2011 - 19:21 UTC
US gross national debt equivalent to 100% of GDP, first time since 1947

The United States gross debt shot up 238 billion dollars to reach 100% of GDP after the government's debt ceiling was lifted, Treasury figures showed. On Tuesday, the Treasury had to add more than 200 billion of commitments immediately after President Barack Obama signed into law an increase in the debt ceiling.
Thursday, August 4th 2011 - 19:14 UTC
Compromise achieved, fiscal reform is the next chapter, says Geithner

Following the political agreement which enabled the US Congress to lift the debt ceiling and avoid default, Treasury Secretary Timothy Geithner wrote a piece for The Washington Post, where he displays what in his opinion are the following steps for the world’s largest economy to restore fiscal responsibility and sustainability.
Wednesday, August 3rd 2011 - 22:06 UTC
IDB approves a financial support plan of 1.8 billion dollars for Uruguay

The Inter American Development Bank, IDB, approved this week a new country ambitious strategy with Uruguay with a financial plan for the period 2010–2015 of up to 1.8 billion dollars of for sovereign-guaranteed loans.
Wednesday, August 3rd 2011 - 06:53 UTC
China Dagong agency downgrades US credit rating from A+ to A with negative outlook

Chinese rating agency Dagong Global Credit Rating Co. said Wednesday it has cut the credit rating of the United States from A+ to A with a negative outlook after the U.S. federal government announced that the country's debt limit would be increased.
Wednesday, August 3rd 2011 - 00:10 UTC
China says there’s no way of escaping dollar dominance… in the short term

United States' debt woes still threaten the global economy despite the last-minute deal struck by the White House and political party leaders, China's main official newspaper said on Tuesday, adding there was no short-term escape from the dominance of the dollar.
Tuesday, August 2nd 2011 - 21:44 UTC
US consumers cut spending in June for the first time in two years

US consumer spending unexpectedly fell in June to post the first decline in nearly two years as incomes barely increased, a government report showed, suggesting economic growth could remain subdued in the third quarter.
Tuesday, August 2nd 2011 - 21:37 UTC
Wall Street fears possible downgrade of US rating in spite of vote on debt ceiling

Wall Street dropped on worries about a possible downgrade of the United States' top credit rating and signs of economic weakness even as the US Congress passed on Tuesday a bill to avoid a debt default.
Tuesday, August 2nd 2011 - 15:46 UTC
Geithner admits battle over debt limit has damaged confidence in the US economy

US Treasury Secretary Timothy Geithner said he is not sure whether the bitterly fought debt agreement to be considered by the US Senate will avoid a downgrade of the U.S. top-tier credit rating.
Tuesday, August 2nd 2011 - 07:27 UTC
With hours before default deadline, US Senate votes on debt ceiling package

US House of Representatives has passed by 269 votes to 161 a last-gasp deal to avoid a federal debt default. The bill is expected to be approved by the Senate and signed into law by President Barack Obama on Tuesday.
Monday, August 1st 2011 - 20:37 UTC
US manufacturing expanded at its lowest in two years in July

US manufacturing grew at its slowest pace in two years in July as new orders contracted, a troubling development for the faltering economy. The Institute for Supply Management said its index of national factory activity fell to 50.9, the lowest level since July 2009, from 55.3 in June.