Latest Gross domestic product News

US revises up last quarter's economic growth to 2.9% rate

Nov. 30, 2022 09:24 AM EST

WASHINGTON (AP) — Despite high interest rates and chronic inflation, the U.S. economy grew at a 2.9% annual rate from July through September, the government said Wednesday in a healthy upgrade from its initial estimate. Last quarter's rise in the U.S. gross domestic product — the...

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...

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...

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...

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...

German economy to shrink in 2023, government advisers expect

Nov. 09, 2022 10:32 AM EST

BERLIN (AP) — The German government's panel of independent economic advisers forecast Wednesday that Europe's biggest economy will shrink by 0.2% next year. The five-member panel's report came after official figures late last month showed unexpected growth in the third quarter,...