Latest Economy News

China's Communist Party charts technology- and security-focused development for reviving the economy

Jul. 17, 2024 07:28 AM EDT

BANGKOK (AP) — In a year of major elections that will determine the destinies of many countries, China’s ruling Communist Party is holding closed, top-level meetings in Beijing to set strategies for reviving its slowing economy. State media likened the meetings that end Thursday...

IMF's economic view: Brighter outlook for China and India but tepid global growth

Jul. 16, 2024 09:49 AM EDT

WASHINGTON (AP) — The International Monetary Fund on Tuesday upgraded its economic outlook this year for China, India and Europe while modestly lowering expectations for the United States and Japan. But it says worldwide progress against accelerating prices has been slowed by...

Thailand is set to roll out a controversial $13.8 billion handout plan in digital money to citizens

Jul. 15, 2024 20:42 PM EDT

BANGKOK (AP) — Thailand's prime minister said Monday that eligible businesses and individuals can register from August for digital cash handouts, a controversial program that will cost billions of dollars and is meant to boost the lagging economy. The government announced in April...

China's Communist Party will signal its approach to the country's challenges at a meeting this week

Jul. 15, 2024 06:50 AM EDT

BEIJING (AP) — China's ruling Communist Party started a four-day meeting Monday that is expected to lay out a strategy for self-sufficient economic growth in an era of heightened national security concerns and restrictions on access to American technology. While the meeting...

China's economy slowed in the last quarter as weak consumer demand dragged on growth

Jul. 15, 2024 00:42 AM EDT

BANGKOK (AP) — China's economy expanded at a slower-than-forecast 4.7% annual rate in the last quarter, the government reported Monday, while emphasizing signs of improvement in factory output, income and investment. The expansion was sharply below the 5.3% annual pace of growth...

China reports its economy slowed in the last quarter, expanding 4.7% in annual terms

Jul. 14, 2024 22:12 PM EDT
BEIJING (AP) — China reports its economy slowed in the last quarter, expanding 4.7% in annual terms.

Powell stresses message that US job market is cooling, a possible signal of coming rate cut

Jul. 10, 2024 12:48 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Wednesday reinforced a message that the Fed is paying growing attention to a slowing job market and not only to taming inflation, a shift that signals it's likely to begin cutting interest rates soon. “We’re not just an...

Kenya's president warns of huge consequences after his effort to address an $80 billion debt fails

Jul. 10, 2024 00:14 AM EDT

NAIROBI, Kenya (AP) — The ballooning debt in East Africa's economic hub of Kenya is expected to grow even more after deadly protests forced the rejection of a finance bill that President William Ruto said was needed to raise revenue. He now warns “it will have huge consequences.” ...

Stock market today: Wall Street's scorching rally sets more records as hopes rise for rate cuts

Jul. 05, 2024 16:25 PM EDT

NEW YORK (AP) — U.S. stocks rose to more records Friday after a highly anticipated report on the job market bolstered Wall Street’s hopes that interest rates may soon get easier. The S&P 500 climbed 0.5% to set an all-time high for a third straight day following Thursday’s...

US employers added a solid 206,000 jobs in June in a sign of continued economic strength

Jul. 05, 2024 10:41 AM EDT

WASHINGTON (AP) — America’s employers delivered another healthy month of hiring in June, adding 206,000 jobs and once again displaying the U.S. economy’s ability to withstand high interest rates. Last month’s job growth did mark a pullback from 218,000 in May. But it was...