Latest Economic outlook News

Choppy jobs recovery could mean bumpy economic rebound

May. 13, 2021 10:41 AM EDT

April's weak jobs report is a sign that while the U.S. economy continues its post-pandemic recovery, the road ahead will be bumpy. Only 266,000 jobs were created last month, shocking Wall Street and leaving the U.S. still about 8.2 million jobs short of the where the...

EU economy to expand, bouncing back from pandemic crisis

May. 12, 2021 07:16 AM EDT

BRUSSELS (AP) — The European Union economy is set to bounce back strongly this year after the deep coronavirus recession and member states are forecast to regain the ground lost by the end of next year. In its latest forecast Wednesday, the EU’s executive commission...

UN raises global economic forecast to 5.4% growth in 2021

May. 12, 2021 01:48 AM EDT

UNITED NATIONS (AP) — The United Nations on Tuesday responded to the rebounding Chinese and U.S. economies by revising its global economic forecast upward to 5.4% growth for 2021, but it warned that surging COVID-19 cases and inadequate availability of vaccines in many countries threaten a...

Top Fed official says Fed far from achieving its goals

May. 11, 2021 14:18 PM EDT

WASHINGTON (AP) — A top Federal Reserve official says the outlook for the U.S. economy is bright but the recent jobs report is a reminder that the path of the recovery is likely to be uneven and difficult to predict. Lael Brainard, a member of the Fed's board, said...

German investors increasingly optimistic as COVID cases fall

May. 11, 2021 07:10 AM EDT

BERLIN (AP) — German investors are increasingly optimistic about the country's economy as the latest surge of new coronavirus infections seems to be slowing, a closely-watched survey showed Tuesday. The Mannheim-based ZEW institute said its indicator of economic...

Australia to reveal big-spending plan for next fiscal year

May. 11, 2021 02:25 AM EDT

CANBERRA, Australia (AP) — The Australian government will release its big-spending economic plan for the next fiscal year on Tuesday designed to create jobs and repair pandemic damage and with an eye toward winning votes at looming general elections. Treasurer Josh...

US job growth slows sharply in sign of hiring struggles

May. 07, 2021 17:36 PM EDT

WASHINGTON (AP) — The recovery of America’s job market hit a pause last month as many businesses — from restaurants and hotels to factories and construction companies — struggled to find enough workers to catch up with a rapidly strengthening economic rebound. ...

Stocks rally to records after grim jobs data undercuts rates

May. 07, 2021 16:51 PM EDT

Stocks rallied to more records on Wall Street Friday as a stunningly disappointing report on the nation's job market signaled to investors that interest rates will likely stay low. The S&P 500 rose 0.7%, topping the previous all-time high set last month. The Dow Jones...

Asian indexes rise after US rally; investors await jobs data

May. 06, 2021 23:31 PM EDT

TOKYO (AP) — Asian shares rose Friday on optimism about the rally on Wall Street and an economic rebound in the U.S., as investors awaited the release of jobs data. Japan's benchmark Nikkei 225 recouped early losses to edge up 0.3% to 29,414.00 in morning trading....

Bank of England expects best year for UK economy since 1941

May. 06, 2021 10:57 AM EDT

LONDON (AP) — The Bank of England has kept interest rates on hold as it forecast the fastest annual pace of growth for the British economy since early on in World War II, largely as a result of the rapid rollout of coronavirus vaccines. In a prepared statement Thursday,...