The U.S. economy sank at a pace of just 1 percent in the second quarter of the year, the Commerce Department reported Friday, in a better-than-expected showing that the recession could be winding down.

May 29

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The U.S. economy shrank slightly less than initially estimated at a 5.7 percent pace at the start of 2009 as the recession lumbered into the new year, according to a government report released Friday that hinted the recession might be…

Apr 29

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The Commerce Department released numbers Wednesday estimating the economy contracted during the first three months of the year at nearly the same rate as the final quarter of 2008, marking the third straight quarter of decline since the late 1950s.

India has benefited from supplying other countries with outsourcing services from computer help to legal document analysis, while in other parts of the country poor farmers are struggling to make a living. NewsHour special correspondent Simon Marks reports on the…