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German unemployment fell in July for the 13th straight month, putting Europe's largest economy on the brink of a milestone: regaining all of the employment lost during the recession far earlier than many economists expected.

Fitch cited a deterioration in the Southeast Asian country's finances and a banking system vulnerable to systemic stress.

The IMF said China's trade surplus is set to balloon unless it takes steps to support domestic consumption, including letting its currency strengthen.

Amid the tepid economic recovery, California's construction industry continues to hemorrhage jobs, helping to explain why unemployment across the state remains so much worse than elsewhere in the country.

Initial jobless claims declined by 11,000 to 457,000 last week, but that followed a big rise the previous period, signaling little improvement in the job market.