Latest Economic growth News

Japan’s economy slows, logging 0.2% annual expansion in 3Q

Nov. 13, 2019 11:44 PM EST

TOKYO (AP) — Japan’s economy grew at a modest annual pace of 0.2% in July-September, supported by consumer purchases ahead of a tax hike, the government said Thursday. It was the fourth straight quarter of expansion for the world’s third largest economy, but well below analysts’...

Asian markets mixed after Wall Street high

Nov. 13, 2019 11:20 PM EST

BEIJING (AP) — Asian stock markets were mixed Thursday amid doubts about the status of a U.S.-Chinese trade deal after the U.S. Federal Reserve’s chairman said it is likely to leave its benchmark interest rate unchanged. Investors were wary after The Wall Street Journal reported Chinese negotiators...

Fed’s Powell sees steady growth, signals pause in rate cuts

Nov. 13, 2019 4:27 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Wednesday that the Fed is likely to keep its benchmark short-term interest rate unchanged in the coming months, unless the economy shows signs of worsening. But for now, in testimony before a congressional panel, Powell expressed optimism about...

Trump claims credit for economy, jobs in New York speech

Nov. 12, 2019 2:54 PM EST

NEW YORK (AP) — Despite a slowing economy, President Donald Trump declared Tuesday that the United States was enjoying a "boom the likes of which we have never seen before!" Trump told the Economic Club of New York that "we have delivered on our promises — and exceeded our expectations by a very...

Morales' exit stymies comeback for Latin America's left

Nov. 12, 2019 2:53 PM EST

The sudden resignation of Bolivia's Evo Morales sent shockwaves throughout Latin America, where the indigenous leader had been the last survivor among a wave of leftist leaders swept to power two decades ago as commodity prices soared. But the upheaval that has recently rocked the region, threatening Trump allies...

China's Alibaba, JD report booming Singles Day sales

Nov. 11, 2019 7:46 PM EST

BEIJING (AP) — Chinese e-commerce giants Alibaba and JD.com reported nearly $70 billion in sales Monday on Singles Day, an annual marketing event that is the world's busiest online shopping day. The day was a temporary relief to retailers that face fading demand as Chinese consumers tighten their belts,...

UK avoids recession but economy growing at near decade lows

Nov. 11, 2019 7:45 AM EST

LONDON (AP) — The British economy avoided falling into recession in the third quarter of the year, but annual growth is running at a near-decade low rate as a result of ongoing uncertainty related to Britain's departure from the European Union and a subdued global backdrop, official figures showed Monday....

Uncertainty over US-China trade keeps markets in check

Nov. 8, 2019 8:11 AM EST

LONDON (AP) — Uncertainty about a possible U.S.-Chinese agreement to roll back tariffs in their trade war kept global markets in check Friday. Though the two sides have agreed to reduce some punitive tariffs on each other's goods, the full extent of the rollback wasn't clear. A Chinese spokesman announced...

China's trade with US shrinks in October despite optimism

Nov. 8, 2019 12:31 AM EST

BEIJING (AP) — U.S.-Chinese trade contracted again in October, despite optimism about possible progress in talks aimed at ending a tariff war that threatens global economic growth. Chinese imports of U.S. goods fell 14.3% from a year earlier to $9.4 billion, customs data showed Friday. Exports to the...

Germany's Merkel: 2% of GDP on defense by 2031 'realistic'

Nov. 7, 2019 11:20 AM EST

BERLIN (AP) — Germany's defense minister is calling for the country to spend 2% of gross domestic product on defense by 2031, a target Chancellor Angela Merkel called "realistic but ambitious." NATO members in 2014 agreed to "aim to move toward" increasing defense spending to 2% of GDP by 2024. The U.S....