G-20 summit: 6 countries in recovery

The G-20's six largest economies took a big hit during the global recession in the past year and a half. Challenges remain but most appear on the path to recovery.

1 of 6
BACKNEXT
United States: Painful rebound
United States: Painful rebound
GDP: -1%
Inflation: -1.5%
Unemployment: 9.7%
Markets: 18.3%
Interest rate: 0% to 0.25%

The U.S. economy appears to be stabilizing after declining for four straight quarters, but the recovery has been tepid so far.

Financial markets have shown signs of improvement, and interbank lending has largely returned to normal. Consumer spending is still shrinking due to ongoing job losses and difficult credit conditions, but it has been stabilizing over the past quarters. Furthermore, home sales and new home construction are beginning to make a long-awaited comeback.

Businesses have continued to cut back on spending and have sharply reduced their inventories. But many economists believe that companies are largely done with their cuts, which could lay the groundwork for economic growth this quarter. The massive $787.2 billion stimulus bill is also expected to give GDP a boost in the current quarter.

"The recession is very likely over at this point," Federal Reserve Chairman Ben Bernanke said last week. But he also added, "It's still going to feel like a very weak economy for some time."

That's because unemployment continues to rise, retail sales are still slipping, factories have cut output to the bare bones and wages remain depressed.
NEXT: Japan: Cautious improvement
Last updated September 24 2009: 11:03 AM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
Source: IMF, national statistics offices, central banks, S&P 500
More Galleries
These 10 food trends could dominate 2015 So long, kale. Here's what's expected to shake up the food industry next year. More
Beyond Russia: Geopolitical hot spots in 2015 Investors beware: These 5 global crises are likely to rattle the stock market and world economy. More
These 20 antique guns could fetch big bucks Morphy Auctions in Pennsylvania is putting nearly 1,000 old guns on the block. Here are just a few. More

Special Offer

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.