Latest Economic outlook News

Lawmakers impede next UK leader's path to a no-deal Brexit

Jul. 18, 2019 12:34 PM EDT

LONDON (AP) — With Britain set to get a new pro-Brexit leader within days, lawmakers on Thursday erected a roadblock in the path of any attempt by the incoming prime minister to take the country out of the European Union without a divorce deal. The move came as the U.K.'s official economic watchdog said a...

South Korea's central bank lowers rate amid Japan trade row

Jul. 18, 2019 3:25 AM EDT

SEOUL, South Korea (AP) — South Korea's central bank on Thursday cut its policy rate for the first time in three years to shore up growth threatened by a trade dispute with Japan. The Bank of Korea lowered its key interest rate by a quarter percentage point to 1.50% following a meeting of its monetary...

China's growth cools further as tariff war pressures mount

Jul. 15, 2019 3:20 PM EDT

BEIJING (AP) — China's economic growth sank to its lowest level in at least 26 years in the quarter ending in June, adding to pressure on Chinese leaders as they fight a tariff war with Washington. The world's second-largest economy grew 6.2% over a year ago, down from the previous quarter's 6.4%,...

Branson: Pound could be just a dollar in 'no-deal' Brexit

Jul. 11, 2019 10:35 AM EDT

LONDON (AP) — Virgin Group founder Richard Branson has warned that the pound's value would fall to that of the dollar if Britain leaves the European Union without a deal — a stark prediction that will fuel worries about the economic pressures facing the country. Traders see the possibility of a...

The Latest: Markets end up after Powell hints at rate cut

Jul. 10, 2019 7:23 PM EDT

WASHINGTON (AP) — The Latest on Federal Reserve Chairman Jerome Powell's presentation of the Fed's semi-annual monetary report to Congress. (all times local) 7:20 p.m. Testimony by Chairman Jerome Powell to a House Committee about the economic outlook led investors to send stock prices up, bond yields down...

Powell's message to Congress: Rate cut is likely coming soon

Jul. 10, 2019 4:13 PM EDT

WASHINGTON (AP) — Pointing to a weaker global economy, rising trade tensions and chronically low inflation, Chairman Jerome Powell signaled Wednesday that the Federal Reserve is likely to cut interest rates late this month for the first time in a decade. Delivering the central bank's semiannual report to...

Many Fed officials saw stronger case for rate cut last month

Jul. 10, 2019 3:39 PM EDT

WASHINGTON (AP) — Most Federal Reserve officials expressed concern at a meeting last month that the outlook for the U.S. economy was weakening, and many said the Fed should soon cut rates if uncertainty continued to weigh on growth. Some businesses, particularly in manufacturing, have pulled back on...

EU trims economic growth forecasts amid trade tensions

Jul. 10, 2019 5:50 AM EDT

BRUSSELS (AP) — The European Union said Wednesday it has trimmed its forecasts for economic growth next year as global trade tensions weigh on the bloc's export-focused manufacturers. The EU executive commission reduced its forecast for next year for both the 19-country eurozone and the 27 countries that...

Mexico's treasury secretary resigns, cites interference

Jul. 9, 2019 9:45 PM EDT

MEXICO CITY (AP) — Mexico's treasury secretary resigned Tuesday, complaining of the appointment of unqualified officials by "influential people in the current administration who have clear conflicts of interest." Carlos Urzua, a longtime ally of President Andrés Manuel López Obrador, did not...

AP FACT CHECK: Trump distorts census, Obama-Biden record

Jul. 8, 2019 12:49 AM EDT

WASHINGTON (AP) — President Donald Trump is stretching the truth in his legally questionable bid to get a citizenship question added to the 2020 census. Brushing aside a Supreme Court ruling against him and his agencies saying it's probably too late, Trump is ordering that the question somehow be included...