Latest Recessions and depressions News

US retail sales dip 0.3% in September

Oct. 16, 2019 10:15 AM EDT

WASHINGTON (AP) — Retail sales dropped in September by the largest amount in seven months, possibly signaling that rising trade tensions and turbulent markets are having an impact on consumer spending. Retail sales fell 0.3% last month following a 0.6% gain in August, the Commerce Department reported...

Shooting kills 6 in Puerto Rico, leads to emergency meeting

Oct. 15, 2019 8:01 PM EDT

SAN JUAN, Puerto Rico (AP) — Puerto Rico's governor called an emergency meeting Tuesday after six people were killed in a mass shooting in a San Juan housing project and gunfire left two people dead a day earlier in the island's north. Automatic weapon fire and screams could be heard in videos circulating...

Auditor: Missouri needs to save more for a recession

Oct. 15, 2019 4:35 PM EDT

JEFFERSON CITY, Mo. (AP) — Missouri isn't saving enough money to avoid having to cut spending or raise taxes if there is a recession, state Auditor Nicole Galloway said Tuesday. Galloway recommended that state lawmakers increase the amount in Missouri's Budget Reserve Fund to the maximum allowed under the...

Trump's sanctions won't bite a vulnerable Turkish economy

Oct. 15, 2019 2:31 PM EDT

FRANKFURT, Germany (AP) — The sanctions the U.S. announced against Turkey this week over its offensive in Syria fall well short of doing serious damage to an economy still healing from a recession and currency collapse. President Donald Trump could take far tougher action that would deter foreign...

China's trade with US shrinks again in September

Oct. 14, 2019 6:33 AM EDT

BEIJING (AP) — China's trade with the United States fell by double digits again in September amid a tariff war that threatens to tip the global economy into recession. Exports to the United States, China's biggest foreign market, fell 21.9% to $36.5 billion, a deterioration from August's 16% decline,...

Editorials from around New England

Oct. 11, 2019 7:37 PM EDT

Editorials from around New England: CONNECTICUT We need to stop calling the pattern of sex abuse in the Catholic Church a travesty. It was a criminal conspiracy and the state hasn't done enough to hold the guilty accountable. Hartford Courant Oct. 6 The latest revelations about sexual abuse aren't new but they...

UAW-GM strike proving costly to more than workers, automaker

Oct. 11, 2019 12:29 AM EDT

DETROIT (AP) — Zack Bazzi is not seeing workers from a nearby General Motors plant swing through the gas station where he works on Detroit's east side since they went on strike nearly a month ago. Business is "slow," Bazzi said from behind the counter of the empty Marathon station within a short walk of...

UK looks set to avoid recession in the run-up to Brexit date

Oct. 10, 2019 11:25 AM EDT

LONDON (AP) — The British economy looks like it will avoid falling into recession in the run-up to the scheduled Brexit date after official figures showed that growth held up in the three months through August. Though the Office for National Statistics found that the British economy contracted by a monthly...

Fed officials were sharply divided over September rate cut

Oct. 9, 2019 4:27 PM EDT

WASHINGTON (AP) — Federal Reserve officials were sharply divided last month when they decided to cut their key policy rate for a second time this year, a split that indicates the path forward for future rate cuts remains cloudy. Minutes of the discussion at the September meeting released Wednesday showed...

US job openings slip 1.7% in August as labor market slows

Oct. 9, 2019 11:22 AM EDT

WASHINGTON (AP) — U.S. job openings fell 1.7% in August and hires edged down, bolstering views that the labor market may lose momentum as economic uncertainty and a manufacturing recession squeeze employers. The Labor Department says employers advertised 7.1 million available jobs in August, down from 7.2...