During the 2000s, as U.S. manufacturing was transformed by devastating job losses, prominent economists and presidential advisers offered comforting words. The paring of the manufacturing workforce, which shrank by a third over the decade, actually represented good news, they said. It meant that U.S. workers and factories had become more efficient and that, as a result, manufacturing companies…

China, the largest foreign U.S. creditor, increased its holdings of U.S. government securities in January for the first time in six months as European leaders struggled to contain the region’s sovereign-debt crisis. Holdings rose by 0.7 percent to $1.16 trillion, the first growth in China’s stake since July, Treasury data released yesterday show. The report also showed…

Americans might complain about higher gasoline prices, but new government data show that hasn’t stopped them from driving to the mall. Retail sales jumped 1.1 percent in February, the biggest monthly increase since last fall, the Commerce Department reported Tuesday. Consumers went shopping for new cars, clothes, electronics and sporting goods despite spending 3.3 percent more…

Household debt rose for the first time in three and a half years during the fourth quarter, suggesting Americans were more comfortable borrowing money and potentially laying the groundwork for higher consumer spending. The data released on Thursday by the Federal Reserve also showed household wealth increasing by $1.2 trillion, which could also support spending….