Latest Economic outlook 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...

World Bank: 5.2% decrease in MENA economies expected in 2020

Oct. 19, 2020 12:23 PM EDT

CAIRO (AP) — The coronavirus pandemic and a collapse in oil prices have affected all aspects of the Middle East and North Africa, with the region’s economies projected to contract by 5.2% in 2020, the World Bank said Monday. The current projection is 4.1% below the forecast in April, and 7.8% worse...

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...

A man stands near an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, Oct. 16, 2020. Asian shares were mixed on Friday as investors weighed concerns about the U.S. presidential election and an economic stimulus package, on top of fears of flaring outbreaks of coronavirus. (AP Photo/Eugene Hoshiko)

Asian shares mixed amid 2nd wave coronavirus, election fears

Oct. 15, 2020 11:33 PM EDT

TOKYO (AP) — Asian shares were mixed on Friday as investors weighed concerns about the U.S. presidential election and an economic stimulus package, on top of fears of flaring outbreaks of coronavirus. Investors are also looking ahead to the release of data on the Chinese economy next week. Shares rose in...

FILE - In this Friday, Oct. 2, 2020 file photo, pedestrians pass the New York Stock Exchange,  in New York.  Stocks are pulling slightly higher in the early going on Wall Street, Wednesday, Oct. 14,  as investors pore over another batch of earnings reports from big U.S. companies. The S&P 500 added 0.3% in early trading Wednesday. A loss in the index a day earlier broke a four-day winning streak.  (AP Photo/John Minchillo, File)

Asian stocks follow Wall St lower as stimulus hopes fade

Oct. 15, 2020 12:07 AM EDT

Asian stocks followed Wall Street lower on Thursday as hopes U.S. leaders will agree on a new economic stimulus before the Nov. 3 presidential election faded. Benchmarks in Shanghai, Tokyo and Hong Kong declined. Sydney advanced. In Seoul, the company that manages boy band BTS made its market debut amid criticism...

FILE - In this Monday, Sept. 21, 2020, file photo, the Wall Street sign is framed by a giant American flag hanging on the New York Stock Exchange. Stocks are edging lower on Wall Street in early trading, Tuesday, Oct. 13, 2020, as the market cools off following a four-day rally. (AP Photo/Mary Altaffer, File)

Asian shares track Wall Street decline on pandemic jitters

Oct. 14, 2020 12:08 AM EDT

Shares were mostly lower in Asia on Wednesday after pandemic concerns snapped a four-day winning streak on Wall Street. Rising coronavirus counts in many countries are raising the urgency to develop vaccines and treatments and setbacks in that process tend to discourage investors. On Tuesday, independent...

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...

A man wearing a face mask walks near the screens showing the Korea Composite Stock Price Index (KOSPI) at the Korea Exchange in Seoul, South Korea, Tuesday, Oct. 13, 2020. Shares were mostly lower in Asia on Tuesday as investors awaited the release of Chinese trade data. (AP Photo/Lee Jin-man)

Asian shares lower after tech-driven rally on Wall Street

Oct. 12, 2020 11:20 PM EDT

Shares were mostly lower in Asia on Tuesday as investors awaited the release of Chinese trade data. An overnight rally on Wall Street, driven mainly by technology companies such as Apple and Amazon, faded amid worries over U.S. economic stimulus and a resurgence of coronavirus caseloads in many countries. ...

People walk past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, Oct. 12, 2020. Asian shares are mostly higher in muted trading on Monday, as worries about the pandemic keep optimism in check, despite the rally that closed out last week on Wall Street. (AP Photo/Vincent Yu)

Asian shares mostly higher after US rally, aid package hopes

Oct. 11, 2020 11:42 PM EDT

TOKYO (AP) — Asian shares were mostly higher in muted trading Monday, as worries about the pandemic kept optimism in check despite a rally that closed out last week on Wall Street. Investors growing wary over upcoming earnings reports have been cashing in recent gains, helping pull Japanese shares lower....