Inside these posts: Economic activity

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Americans say China’s economy is No. 1

Only one in five Americans believe that the U.S. has the world’s strongest economy, while 47 percent believe that China deserves that honor, according to a new poll released Wednesday by Northbrook-based Allstate Corp. and the National Journal.

It’s the first time that the Allstate-National Journal Heartland Monitor Poll has posed the question.

The survey also found that 67 percent of Americans believe that their financial situation will get worse or remain the same in 2011, rather than improve. Get the full story »

Roubini: U.S. on track for ‘fiscal train wreck’

NYU economics professor Nouriel Roubini. (Stephen Lovekin/Getty Images)

The U.S. economy is a “fiscal train wreck” waiting to happen that risks ushering in a period of stagnation featuring minimal growth, high unemployment and deflationary pressure, U.S. economist Nouriel Roubini wrote on Friday.

In a commentary for the Financial Times, Roubini — one of the first economists to predict the housing crash in the United States and known as ‘Dr Doom’ for his pessimistic forecasts — said fiscal and monetary stimulus had prevented another depression.

But he said that further quantitative easing likely to be announced by the Federal Reserve next Wednesday will have little effect on U.S. growth in 2011, “so fiscal policy should be doing some of the lifting to prevent a double dip recession,” he said. Get the full story »

Economic growth gauge falls to six-week low

A measure of future U.S. economic growth fell to a six-week low in the latest week, while the index’s annualized growth rate rose to an 18-week high, a research group said on Friday. Get the full story »

Beige Book paints less-than-rosy picture of recovery

Overall U.S. economic activity is still increasing but not robustly and in a few districts has lost steam over the past several weeks, the Federal Reserve said  Wednesday.

The Fed’s latest Beige Book summary of national economic conditions, based on information before July 19, pointed to a less-than-booming recovery with sluggish housing markets and sales of costly items like new cars weakening. Get the full story »