Economy News
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The U.S. manufacturing industry rebounded in September from its lowest level since December 2009, helping to defy concerns about a double-dip recession.
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President Barack Obama’s drive to enact a $447 billion jobs plan was derailed by the U.S. Senate, falling short of the 60 votes needed to advance what he has proposed to revive a faltering economy.
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Asian policy makers are bolstering efforts to protect their economies from weakening global growth, as Indonesia unexpectedly cut interest rates and the Philippines unveiled a stimulus plan.
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Goldman Sachs Asset Management Chairman Jim O’Neill said conventional quantitative easing may not be enough for the U.S. and U.K. economies and more “targeted” policies are needed to boost confidence and growth.
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