global downturn

China's inflation edged higher in May amid signs that the third-largest economy's rapid rebound from the global downturn is slowing.

Australia's economy, insulated from the worst of the global downturn by lavish government spending, slowed in the third quarter as the boost from the first phase of the stimulus faded.

DUBAI , United Arab Emirates - Just a year after the global downturn derailed Dubai's explosive growth, the city is now so swamped in debt that it's asking for a six-month reprieve on paying its bills - causing a drop on world markets Thursday and raising questions about Dubai's reputation as a magnet for international investment.

Just a year after the global downturn derailed Dubai's explosive growth, the city is now so swamped in debt that it's asking for a six-month reprieve on paying its bills — causing a drop on world markets Thursday and raising questions about Dubai's reputation as a magnet for international investment.

Just a year after the global downturn derailed Dubai's explosive growth, the city is now so swamped in debt that it's asking for a six-month reprieve on paying its bills — causing a drop on world markets Thursday and raising questions about Dubai's reputation as a magnet for international investment.

German carmakers BMW AG and Audi AG said Monday their October sales improved as the global downturn showed signs of waning and demand for luxury cars improved.

German carmaker Volkswagen AG says net income for the third quarter fell 85 percent as the global downturn affected demand for its cars and trucks.

The world's major powers are repeatedly breaking their pledges not to erect trade barriers, and there's no sign the "protectionist juggernaut" will ease as countries recover from the global downturn, an influential monitoring organization said Friday.

Leaders of the world's 20 top economies vowed to resist protectionism last November and again in April as they charted a joint strategy for confronting the worst global downturn in generations.

As they meet again, they'll get this progress report: Most of their economies are on the mend — and trade tensions and protectionism are on the rise.

India's economy picked up pace in the latest quarter as government spending helped to overcome the worst of the global downturn but drought threatens to stall the recovery.