Xu Biao could sit in his office waiting for orders to roll in during a Chinese building boom two years ago. Now, he’s hitting the road trying to drum up business.
Restrained spending by consumers held growth in the U.S. economy to a 2.8% annual pace in the fourth quarter, slower than economists forecast while still the fastest pace in more than a year.
Caterpillar Inc., the world’s largest construction and mining-equipment maker, posted lower- than-expected profit for the first time in 10 quarters after the Japanese earthquake reduced sales and manufacturing costs rose.
Confidence among U.S. chief executive officers rose in the fourth quarter to the highest level in almost a year as their economic outlook and hiring plans improved, a private survey showed.
Caterpillar Inc., the world’s largest maker of construction equipment, posted its first earnings increase in seven quarters, exceeding analysts’ estimates, as the global economy began to improve.
Foreign direct investment in China fell to the lowest level in two years in July, fueling concern that waning confidence in the nation’s growth prospects may restrain any economic rebound.
Companies placed fewer orders for computers, machinery and other capital equipment in April for a second month, indicating manufacturing in the U.S. is cooling.
Claims for jobless benefits unexpectedly dropped to the lowest level in more than five years, extending swings typical for the month of July.
More U.S. companies are exceeding sales forecasts than any time in four years, helping extend the biggest stock-market rally since 1936.