Latest Economic growth News

People stand near a bank's electronic board showing the Hong Kong share index Tuesday, Oct. 20, 2020. Asian shares fell moderately Tuesday, echoing Wall Street's decline as hopes faded Washington will come through with badly needed aid for the economy before the U.S. presidential election.   (AP Photo/Vincent Yu)

Asian shares track Wall Street fall as virus aid hopes fade

Oct. 19, 2020 11:55 PM EDT

TOKYO (AP) — Asian shares fell moderately Tuesday, tracking Wall Street's overnight decline as hopes faded Washington will come through with badly needed aid for the U.S. economy before the U.S. presidential election. Investors have been focusing on U.S. economic stimulus amid global uncertainty about the...

FILE - In this Nov.13, 2018 file photo, Jihad Azour, the IMF's director of the Middle East and Central Asia Department reacts during his press conference in Dubai, United Arab Emirates. The coronavirus pandemic is hitting countries in the Middle East in wildly different ways, but nearly all are in the throes of an economic recession this year and all but two, Lebanon and Oman are expected to see some level of economic growth next year, according to the latest report published by the International Monetary Fund on Monday, Oct. 19, 2020. (AP Photo/Kamran Jebreili, File)

IMF: Nearly all Mideast economies hit by pandemic recession

Oct. 19, 2020 8:04 AM EDT

DUBAI, United Arab Emirates (AP) — The coronavirus pandemic has pushed nearly all Mideast nations into the throes of an economic recession this year, yet some rebound is expected as all but two — Lebanon and Oman — are anticipated to see some level of economic growth next year, according to a...

Women eating snack walk by a Chanel cosmetic shop at the capital city's popular shopping mall in Beijing, Monday, Oct. 19, 2020. China’s shaky economic recovery from the coronavirus pandemic is gaining strength as consumers return to shopping malls and auto dealerships while the United States and Europe endure painful contractions.(AP Photo/Andy Wong)

China's economy accelerates as virus recovery gains strength

Oct. 19, 2020 5:51 AM EDT

BEIJING (AP) — China’s shaky economic recovery from the coronavirus pandemic is gaining strength as consumers return to shopping malls and auto dealerships while the United States and Europe endure painful contractions. Growth in the world’s second-largest economy accelerated to 4.9% over a...

China's economic growth rises to 4.9% in latest quarter as businesses, spending recover from pandemic

Oct. 18, 2020 10:16 PM EDT
BEIJING (AP) — China's economic growth rises to 4.9% in latest quarter as businesses, spending recover from pandemic.
FILE - In this Feb. 14, 2020, file photo, Kristalina Georgieva, Managing Director of the International Monetary Fund, attends a session on the first day of the Munich Security Conference in Munich, Germany. Georgieva said that the global economy has started on a long climb to stronger growth with prospects looking a little better than four months ago. Georgieva said Tuesday, Oct. 6 that global economic activity suffered an unprecedented fall in the spring when 85% of the global economy was in lockdown for several weeks but currently the situation is “less dire” with many countries seeing better-than-expected rebounds in recent weeks (AP Photo/Jens Meyer, File)

IMF envisions a sharp 4.4% drop in global growth for 2020

Oct. 13, 2020 10:32 AM EDT

WASHINGTON (AP) — The International Monetary Fund foresees a steep fall in international growth this year as the global economy struggles to recover from the pandemic-induced recession, its worst collapse in nearly a century. The IMF estimated Tuesday that the global economy will shrink 4.4% for 2020. That...

Customers wearing face masks to help curb the spread of the coronavirus look at a newly unveiled new model from the American bicycle brand at a retailed shop in Beijing on July 29, 2020. China's trade growth accelerated in September as the world's second-largest economy recovered form the coronavirus pandemic. (AP Photo/Andy Wong)

China's trade growth accelerates in Sept; exports up 9.9%

Oct. 13, 2020 3:34 AM EDT

BEIJING (AP) — China’s trade picked up in September as global demand for masks and medical supplies boosted exports and the economy's early reopening gave producers an edge over foreign competitors. Exports rose 9.9% over a year earlier to $239.8 billion, up from August’s 9.5%, the fourth...

Customers wearing face masks to help curb the spread of the coronavirus look at a newly unveiled new model from the American bicycle brand at a retailed shop in Beijing on July 29, 2020. China's trade growth accelerated in September as the world's second-largest economy recovered form the coronavirus pandemic. (AP Photo/Andy Wong)

China's trade growth accelerates in Sept; exports up 9.9%

Oct. 13, 2020 1:22 AM EDT

BEIJING (AP) — China’s trade growth accelerated in September as the world’s second-largest economy recovered from the coronavirus pandemic. Exports rose 9.9% over a year earlier to $239.8 billion, up from August’s 9.5% growth, customs data showed Tuesday. Imports gained 13.2% to...

FILE - In this Sept. 22, 2020 file photo, staff wear face masks as they serve in a restaurant in Soho in London. Figures released Friday, Oct. 9, 2020 from the Office for National Statistics show that the British economy grew by far less than anticipated during August, raising concerns that the recovery from the coronavirus recession was already stuttering even before the reimposition of an array of lockdown restrictions. (AP Photo/Frank Augstein, file)

UK bolsters salary support for those hit by local lockdowns

Oct. 9, 2020 11:37 AM EDT

LONDON (AP) — The British government said Friday it will pay two thirds of the salaries of workers in companies that have to close as a result of new coronavirus restrictions widely expected to come into effect next week. In a change of policy, Treasury chief Rishi Sunak has responded to calls from...

President Donald Trump stands on the balcony outside of the Blue Room as returns to the White House Monday, Oct. 5, 2020, in Washington, after leaving Walter Reed National Military Medical Center, in Bethesda, Md. A federal appeals court says Trump's accountant must turn over his tax records to a New York state prosecutor. The 2nd U.S. Circuit Court of Appeals in Manhattan ruled Wednesday, Oct. 7. (AP Photo/Alex Brandon)

Bleak outlook without stimulus: More layoffs, anemic growth

Oct. 7, 2020 5:32 PM EDT

WASHINGTON (AP) — President Donald Trump's move Tuesday to cut off talks on another government aid package will further weaken an economy straining to recover from an epic collapse, economists say, and deepen the hardships for jobless Americans and struggling businesses. Half of all small businesses expect...

Federal Reserve Board Chairman Jerome Powell testifies during a Senate Banking Committee hearing, Thursday Sept. 24, 2020 on Capitol Hill in Washington about the CARES Act and the economic effects of the coronavirus pandemic. (Drew Angerer/Pool via AP)

Fed officials cited risks if Congress fails to pass more aid

Oct. 7, 2020 5:12 PM EDT

WASHINGTON (AP) — Federal Reserve officials expressed concern at their most-recent meeting that the U.S. economy recovery could falter if Congress failed to approve another round of pandemic relief. The Fed on Wednesday released minutes of its most recent meeting, showing that officials believed the...