Latest Economic growth News

Wall Street steadies following omicron slide; stocks rise

Nov. 29, 2021 13:35 PM EST

NEW YORK (AP) — Wall Street is steadying itself Monday from last week's slide caused by the newest coronavirus variant, as investors wait for more clues about just how much damage it may do to the economy. The S&P 500 was 1.6% higher in afternoon trading to recover...

Mexico's economy slowed in 3rd quarter

Nov. 25, 2021 13:56 PM EST

MEXICO CITY (AP) — Mexico’s economy slowed in the third quarter, posting a slight contraction compared to the previous three months, but still well above the same quarter a year earlier, according to data released Thursday by its National Institute of Statistics and Geography. ...

US GDP slowed sharply in Q3 but big rebound expected in Q4

Nov. 24, 2021 12:26 PM EST

WASHINGTON (AP) — The U.S. economy slowed to a modest annual rate of 2.1% in the July-September quarter according to the government’s second read of the data, slightly better than its first estimate. But economists are predicting a solid rebound in the current quarter as long as rising...

Fed's Powell will aim to win a high-stakes bet in 2nd term

Nov. 23, 2021 06:56 AM EST

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell gambled last year that his ultra-low rate policies would help revive an economy that had sunk deep into a pandemic-induced recession. So far, his bet has mostly paid off. Growth and hiring have rebounded faster than...

Ethiopia's economy hit as major clothing maker closes shop

Nov. 19, 2021 11:29 AM EST

NAIROBI, Kenya (AP) — Ethiopia’s once rapidly growing economy is taking another hit tied to its yearlong war, with global clothing manufacturer PVH Corp. saying it is closing its facility there because of the “speed and volatility of the escalating situation.” ...

Survey shows continued growth in rural economy in November

Nov. 18, 2021 13:12 PM EST

OMAHA, Neb. (AP) — The economy in rural parts of 10 Plains and Western states remains on the rise, but confidence in the economy’s future continues to drop, according to a new monthly survey of bankers in region released Thursday. The overall Rural Mainstreet economic...

Editorial Roundup: Illinois

Nov. 15, 2021 12:41 PM EST

Chicago Tribune. November 9, 2021. Editorial: A question for Hawks’ management. What’s more important? Championships or doing the right thing? In May 2010, the Blackhawks, the Chicago hockey franchise once powered by the likes of Bobby Hull, Stan...

Japan's economy contracts on shrinking consumption, exports

Nov. 14, 2021 20:25 PM EST

TOKYO (AP) — Japan’s economy shrank at a 3% annual rate in the July-September quarter, as private consumption and auto production took a hit from efforts to curb the coronavirus pandemic. Japan's gross domestic product, which measures the value of a nation’s...

Indiana governor says 'we shall see' on possible tax cuts

Nov. 12, 2021 15:20 PM EST

INDIANAPOLIS (AP) — Indiana’s surging state tax collections have the governor in discussions on whether tax cuts should be considered during the upcoming legislative session. Republican Gov. Eric Holcomb told reporters Thursday “we shall see” when asked about the...

Chinese shoppers spend $139 billion during Singles' Day fest

Nov. 12, 2021 05:40 AM EST

BEIJING (AP) — Chinese shoppers spent $139.1 billion during this year's annual Singles' Day shopping extravaganza, breaking last year's record even though spending slowed during the coronavirus pandemic. Alibaba tallied 540.3 billion yuan ($84.5 billion) in spending...