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Chinese exports grew by only 1 percent in May — the lowest rate in almost a year. Weak exports to the U.S. and Europe are the main culprits. And imports of the raw materials that fuel China's economy, such as copper and coal are also down.

The U.S. economy gained momentum in the second quarter as consumers and businesses picked up their spending. Gross domestic product grew at an annual rate of 2.6 percent.

Western sanctions are biting, oil prices are down sharply, and the Russian currency is tanking. The government now expects the economy to shrink in 2015.

The declines come a day after the Federal Reserve raised interest rates by the most in over two decades as it embarks on a high-stakes fight to bring down inflation.

Oil prices are soaring to levels never anticipated – nearly $100 a barrel. The price of oil affects just about everything that is made, transported, eaten and sold in the United States. But the cost hasn't had the impact on the economy many analysts expected.

News this week about the unemployment rate wasn't good. The U.S. economy created slightly less than 100,000 new jobs, less than what many economists expected. The unemployment rate dropped slightly, possibly because of people who stopped looking for work. NPR's Steve reports on whether the jobs lost during the great recession will ever come back.

The jobs report released Friday morning came in weaker than expected. Employers added 96,000 jobs to payrolls. The unemployment rate did fall to 8.1 percent, but that was because so many people left the workforce.

The Federal Reserve cut interest rates by the largest amount since the 2008 financial crisis, but the emergency move failed to mollify investors worried about the coronavirus epidemic.

Ford Motor Co.'s new three-cylinder EcoBoost engine is one of the smallest on the vehicle market. Will Americans pay more money for a smaller motor if they're getting better fuel economy out of it?

The president says he is concerned about the slowdown in the U.S. economy, but the country is not in a recession.