economy

AP - The budget deficit fell sharply in January compared to a year earlier, as an improving economy lifts income tax revenue.

AP - A burst of hiring in December pushed the unemployment rate to its lowest level in nearly three years, giving the economy a boost at the end of 2011.

AP - The U.S. job market strengthened in the second half of 2011, and December is expected to cap a solid finish.

By all appearances, China has been one of the countries least affected by the global downturn in recent years.

But the Chinese government stepped up spending to keep its economy going, and many local governments now face serious debt problems.

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