Latest Economic growth News

German economy sees stronger growth in 3rd quarter

Nov. 25, 2022 04:08 AM EST

BERLIN (AP) — Germany's economy saw stronger growth in the third quarter than expected as consumer spending picked up following the lifting of pandemic restrictions. Officials figures released Friday show gross domestic product in Europe's biggest economy grew by 0.4% from July to...

EU-Med forum: South needs investment, immigration policies

Nov. 24, 2022 09:54 AM EST

MADRID (AP) — More investment and polices regulating immigration are needed for countries on the southern Mediterranean basin that have been hit hard by the food and energy crisis brought on by Russia's war in Ukraine, the European Union's foreign policy chief said Thursday. ...

Nigeria hopes new currency notes curb inflation, corruption

Nov. 24, 2022 05:02 AM EST

ABUJA, Nigeria (AP) — Nigeria on Wednesday launched newly designed currency notes, a move that the West African nation's central bank says will help curb inflation and money laundering. The newly designed denominations of 200 (45 U.S. cents), 500 ($1.10) and 1,000 naira ($2.20)...

OECD forecast: High rates, inflation to slow world growth

Nov. 22, 2022 17:18 PM EST

Hobbled by high interest rates, punishing inflation and Russia’s war against Ukraine, the world economy is expected to eke out only modest growth this year and to expand even more tepidly in 2023. That was the sobering forecast issued Tuesday by the Paris-based Organization for...

Greek economic growth seen lower in 2023 amid energy woes

Nov. 21, 2022 09:43 AM EST

ATHENS, Greece (AP) — Greece’s economy is projected to grow by 1.8% next year, according to the country’s 2023 budget, slightly lower than the figures predicted last month as higher energy costs and inflation take a toll. The final 2023 budget submitted to parliament on Monday...

VP Harris meets with China's Xi in bid to 'keep lines open'

Nov. 19, 2022 07:10 AM EST

BANGKOK (AP) — U.S. Vice President Kamala Harris spoke briefly with Chinese leader Xi Jinping on Saturday in another step toward keeping lines of communication open between the two biggest economies. Harris and Xi exchanged remarks Saturday while heading into a closed-door meeting...

Japan's economy shrinks as consumers hold back on spending

Nov. 14, 2022 22:03 PM EST

TOKYO (AP) — The Japanese economy contracted at an annual rate of 1.2% in the July-September quarter, as consumption declined amid rising prices. Seasonally adjusted real gross domestic product for the world’s third-largest economy shrank 0.3% on-quarter, according to government...

Fed Vice Chair Brainard is 'reassured' by inflation report

Nov. 14, 2022 14:52 PM EST

WASHINGTON (AP) — Federal Reserve Vice Chair Lael Brainard said Monday that she was encouraged by last week's U.S. inflation report, which pointed to slower price increases, and said the Fed would likely soon reduce the size of its interest rate hikes. “The inflation data was...

EU expects recession to hit this year as inflation hangs on

Nov. 11, 2022 09:25 AM EST

FRANKFURT, Germany (AP) — The European Union's executive commission slashed its forecast for economic growth next year, saying the 19 countries that use the euro currency will slide into recession over the winter as peak inflation hangs on for longer than expected and high fuel and heating costs...

UK economy shrinks as economists warn of more pain to come

Nov. 11, 2022 06:32 AM EST

LONDON (AP) — Britain’s economy shrank in the three months to September, official statistics said Friday, as forecasters warned of many months of contraction to come. The Office for National Statistics said gross domestic product fell by 0.2% between July and September, a...