US retail sales decline in August

Economy warning from China leader
China's President Hu Jintao warns of the effects of the global financial crisis on his country, as economic growth slows.

Big drop in US consumer spending
US consumer spending fell 1% in October, the largest decline since September 2001, in a further sign of the economic downturn.

Obama vows to 'reform' US budget
US President-elect Barack Obama names more advisers and sets out measures to tackle the ailing economy.

Growth figure points to US gloom
The US economy contracted at an annual rate of 0.5% from July to September, according to revised official data.

UK to suffer 'severe' recession
The OECD says that the UK will suffer a deeper recession than any other major economy in 2009.