Latest Economic outlook News

What's in Democrats' big bill? Climate, health care, savings

Aug. 07, 2022 18:17 PM EDT

WASHINGTON (AP) — Not as robust as the proposal President Joe Biden once envisioned to rebuild America's public infrastructure and family support systems, the Democrats' compromise of health care, climate change and deficit-reduction strategies is still a substantial undertaking. ...

Democrats' big package: What remains in and what's out?

Aug. 05, 2022 17:32 PM EDT

WASHINGTON (AP) — It's nowhere near the $4 trillion proposal President Joe Biden first launched to rebuild America's public infrastructure and family support systems but the compromise package of inflation-fighting health care, climate change and deficit reduction strategies appears on track...

EXPLAINER: How do we know when a recession has begun?

Aug. 05, 2022 14:54 PM EDT

WASHINGTON (AP) — Whether the U.S. economy is heading for a recession got more difficult to answer Friday, when a report showed employers hired hundreds of thousands more workers last month than expected. The stunning strength made clear that a linchpin of the economy remains...

Pacific rim economies in doldrums, sapped by inflation, war

Aug. 05, 2022 06:32 AM EDT

BANGKOK (AP) — Economies in the Asia-Pacific are forecast to hit the doldrums this year as decades-high inflation and the war in Ukraine compound geopolitical uncertainties and the aftereffects of the pandemic. A report on Pacific Rim economies by the Asia Pacific Economic...

India raises interest rate to 5.4%, in 3rd hike since May

Aug. 05, 2022 05:26 AM EDT

NEW DELHI (AP) — India’s central bank on Friday raised its key interest rate by 50 basis points to 5.4% in its third such hike since May as it focuses on containing inflation. Reserve Bank of India Governor Shaktikanta Das projected inflation at 6.7% in this financial year. June...

Bank of England says United Kingdom's economy is projected to enter a recession in final three months of 2022

Aug. 04, 2022 07:17 AM EDT
LONDON (AP) — Bank of England says United Kingdom's economy is projected to enter a recession in final three months of 2022.

Argentina's latest economy minister warns he is no magician

Aug. 03, 2022 21:24 PM EDT

BUENOS AIRES, Argentina (AP) — Argentina’s third economy minister in a month was sworn in Wednesday, and as his first order of business Sergio Massa sought to bring down sky-high expectations for his tackling of the country's economic troubles. He made clear he would not announce...

Inflation hits record 8.9% in euro area, but economy grows

Jul. 29, 2022 08:55 AM EDT

LONDON (AP) — Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices fueled by Russia's war in Ukraine, but the economy managed better-than-expected, if meager, growth in the second quarter. Annual inflation in...

EXPLAINER: How do we know when a recession has begun?

Jul. 28, 2022 12:35 PM EDT

WASHINGTON (AP) — The U.S. economy has contracted for two straight quarters, intensifying fears that the nation is on the cusp of a recession — if not already in one — barely two years after the pandemic recession officially ended. Six months of contraction is a long-held...

US not yet in recession and 4 other takeaways from the Fed

Jul. 28, 2022 07:12 AM EDT

WASHINGTON (AP) — Jerome Powell delivered a tough message at the start of a news conference Wednesday: Inflation is way too high, and the Federal Reserve is laser-focused on taming it with higher borrowing costs. Yet despite his resolute words, the Fed chair also said for the...