WASHINGTON: The US economy managed to avert the onset of recession as it struggled to show a 0.6% annual growth pace in the first quarter, government figures showed yesterday.

The US economy contracted in the third quarter as panicked consumers slashed spending, data showed Thursday in the first downside leg of what analysts say could be a deep and nasty recession.

Those counterfeit Louis Vuitton purses and Dolce & Gabbana sunglasses add up -- costing the U.S. economy billions in lost revenue and thousands of jobs each year. Here's an inside look at how some companies are fighting the war on fakes.

An increasing number of signs suggest the widely projected recession — as officially heralded by two consecutive quarters of negative economic growth — may be finally under way. Likewise the deteriorating economy is poised to soften even more, with no

The U.S. economy has largely been resilient since the financial turmoil began more than a year ago, continuing to grow, albeit at a more subdued pace than in prior years. While some economists predicted the economy was headed for recession, others expecte