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The U.S. Import Price Index rose 0.5 percent in March, the Bureau of Labor Statistics of the U.S. Department of Labor reported. A 10.5 percent increase in import petroleum prices more than offset a 0.7 percent decline in the price index for nonpetroleum imports. In contrast, export prices fell in March, decreasing 0.6 percent.

The Conference Board Leading Economic Index(TM) (LEI) for Korea increased 0.5 percent and The Conference Board Coincident Economic Index(TM) (CEI) for Korea also increased 0.5 percent in February.

Investment losses from the current recession have significantly eroded the funding status of public pension plans, affecting entities from school districts, to local governments, to state governments, and there is growing concern that increasing deficits in public plans will force taxpayers to make up for the shortfall.

U.S. small and mid-sized business owners intend to manage through the recession through reductions in capital spending and expenses amid divided opinions about the benefits of the federal stimulus program, according to the PNC Economic Outlook survey's newest findings.

Reversing seven months of crumbling confidence, Americans' economic enthusiasm rallied this month, according to the most recent results of the RBC CASH (Consumer Attitudes and Spending by Household) Index, which posted its first significant improvement since September 2008. Overall consumer confidence advanced 30.1 points, bringing the RBC CASH Index to 38.3 in April, compared to 8.2 in March. Consumer sentiment was bolstered by a 58.3 point increase in Americans' expectations for the future. Americans' attitudes about current conditions and investing also increased in the past month, but they continue to worry about jobs.

The current economic crisis has caused many companies worldwide to make changes in the benefits they offer their employees, such as cutting bonuses, pensions, 401(k) matches or salary increases. But what happens when the economic crisis is over – will these companies reinstate these benefits or not? At the moment, only a minority of Americans believe these benefits will be reinstated.

The Conference Board Leading Economic Index™ (LEI) for the U.K. declined 0.6 percent in February to 92.1 (2004 = 100), following a 0.5 percent fall in January and a 0.7 percent drop in December. Order book volume, stock prices and consumer confidence made the largest negative contributions to the index, more than offsetting a positive contribution from the yield spread.

Mortgage rates were slightly higher this week, with the average 30-year fixed mortgage rate increasing to 5.2 percent. According to Bankrate.com's weekly national survey, the average 30-year fixed mortgage has an average of 0.47 discount and origination points.

According to the annual sales tax rate study issued by Vertex, Inc., the leading provider of corporate enterprise tax solutions, 554 U.S. cities changed their sales tax rates in 2008. Of those, 200 were newly imposed city tax rates and 307 were straight increases to existing city tax rates. Other changes in sales, transit, and use taxes, combined with new and pending changes for 2009 indicate that state and local governments are scrutinizing tax rates in light of the current economic turmoil.

From September 2007 to September 2008, employment declined in more than half of the largest U.S. counties, according to preliminary data released by the Bureau of Labor Statistics of the U.S. Department of Labor. Elkhart County, Ind., located about 100 miles east of Chicago, posted the largest percentage decline, with a loss of 10.8 percent over the year, compared with a national job decrease of 0.8 percent. Manufacturing sustained the largest employment losses in Elkhart.