Latest Gross domestic product News
UN says Latin America and Caribbean are COVID-19 `hot spot'
UNITED NATIONS (AP) — Latin America and the Caribbean have become “a hot spot” for the COVID-19 pandemic, with several countries now having one of the highest per capita infection rates and absolute number of cases in the world, U.N. Secretary-General Antonio Guterres said Thursday. The U.N....
The Latest: SKorea weighs listing churches as 'high risk'
SEOUL, South Korea -- South Korea is considering including religious facilities on the same list with nightclubs, hostess bars and karaoke rooms as “high risk” venues for the spread of COVID-19 following a slew of transmissions tied to church gatherings. South Korean Prime Minister Chung Sye-kyun...
Pentagon chief seeks to reassure NATO over US troop plans
BRUSSELS (AP) — U.S. Defense Secretary Mark Esper on Friday sought to reassure allies at NATO that Washington will consult them on any future troop movements, after President Donald Trump surprised partners at the military alliance by announcing the withdrawal of thousands of personnel from Germany. At a...
US GDP fell at 5.0% rate in Q1; worse is likely on the way
WASHINGTON (AP) — The U.S. economy shrank at a 5.0% rate in the first quarter and a vastly worse performance is expected in the current three-month period, when the coronavirus pandemic began to spread across the U.S. The Commerce Department reported Thursday that the decline in the gross domestic product,...
Asia Today: Beijing's daily cases drop, India's rise sharply
BEIJING (AP) — China’s capital reported a decline in newly confirmed cases of coronavirus Thursday, with a public health expert saying a recent outbreak in the city was under control and the number of new cases should drop in the coming days. Authorities have confirmed 158 cases in Beijing in the...
Survey: Business economists expect worst slump since 1940s
WASHINGTON (AP) — Business economists expect the United States to suffer its worst downturn this year in more than seven decades before growth resumes sometime next year. Overhanging that forecast, though, is the risk that a second wave of the coronavirus could threaten the economy once again. A survey...
Parisians return to cafes; Latin America sees virus surge
PARIS (AP) — Parisians returned to the City of Light’s beloved sidewalk cafes as lockdown restrictions eased Tuesday, but health experts expressed deep concerns as several Latin American countries opted to reopen their economies despite a rapid rise in coronavirus cases. The post-lockdown freedom...
CBO projects virus impact could trim GDP by $15.7 trillion
WASHINGTON (AP) — The Congressional Budget Office said Monday that the U.S. economy could be $15.7 trillion smaller over the next decade than it otherwise would have been if Congress does not mitigate the economic damage from the coronavirus. The CBO, which had already issued a report forecasting a severe...
US economy shrank at 5% annual rate in Q1
WASHINGTON (AP) — The U.S. economy shrank at an even faster pace than initially estimated in the first three months of this year with economists continuing to expect a far worse outcome in the current April-June quarter. The Commerce Department reported Thursday that the gross domestic product, the...
This Week: New home sales, US GDP, consumer spending
A look at some of the key business events and economic indicators upcoming this week: HOUSING MARKET BELLWETHER The economic fallout from the coronavirus pandemic has spared few areas of the economy, and the market for newly built homes is no exception. Sales of new U.S. homes plunged 15.4% in March to a...
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