Latest Economic outlook News

German Economy Ministry: Long-term recession not expected

Sep. 13, 2019 4:57 AM EDT

BERLIN (AP) — The German government says the country's economy is in a weak phase but it doesn't currently see indications it will enter a long-term recession. The German economy, Europe's largest, contracted by 0.1% in the second quarter and is widely predicted to shrink again in the third quarter, which...

OPEC, allies weigh further oil production cut in December

Sep. 12, 2019 9:16 AM EDT

ABU DHABI, United Arab Emirates (AP) — OPEC and its non-cartel allies on Thursday discussed further cuts to oil production and the possibility of Iran re-entering the global market but said that any decision would have to wait for a meeting in December. Global oil prices fell on the news as forecasts...

Saudi Aramco CEO signals local listing coming 'very soon'

Sep. 10, 2019 4:57 AM EDT

ABU DHABI, United Arab Emirates (AP) — The chief executive of Saudi Aramco, the state-owned oil firm that is seen as the kingdom's crown jewel, said Tuesday that the company is ready for a local listing on the kingdom's stock exchange and that it will happen "very soon." Amin Nasser declined to say how...

Mexico proposes generous social budget; bets big on oil

Sep. 9, 2019 12:58 PM EDT

MEXICO CITY (AP) — Mexican President Andrés Manuel Lopez Obrador's proposed budget for next year would continue his commitment to social spending for the elderly and youth and funnel more resources to the state-owned oil company Pemex. But some analysts see the 6.1 trillion peso ($312 billion)...

Modest hiring enough to fuel sluggish but durable US economy

Sep. 6, 2019 5:09 PM EDT

WASHINGTON (AP) — Hiring by U.S. employers was slower but steady in August, and hourly pay jumped — trends that should sustain the U.S. economy's record-long expansion in the coming months. Yet with the economy still under threat from a weak global economy and President Donald Trump's trade war with...

US stocks' mixed finish nudges S&P 500 to a 2nd weekly gain

Sep. 6, 2019 4:55 PM EDT

Major U.S. stock indexes finished little changed Friday after a day of mostly quiet trading capped the S&P 500's second straight weekly gain. The market shook off an early stumble thanks largely to gains in health care stocks, makers of consumer products and retailers. Technology, communications and utilities...

Stocks up ahead of US jobs report, after China cuts rates

Sep. 6, 2019 7:58 AM EDT

TOKYO (AP) — Global shares mostly rose Friday ahead of U.S. jobs data for August, on renewed hopes for U.S.-China trade negotiations next month, and as the Chinese central bank's cut one of its interest rates. Economists have forecast that U.S. businesses and governments added 160,000 jobs last month,...

Asian shares rise on optimism over more US-China trade talks

Sep. 5, 2019 11:30 PM EDT

TOKYO (AP) — Asian shares rose Friday as investors cheered plans for more trade negotiations between Washington and Beijing and drew encouragement from positive data about the U.S. economy. Japan's benchmark Nikkei 225 gained nearly 0.7% in morning trading to 21,222.86. Australia's S&P/ASX 200 rose...

Fed survey says growth is steady despite Trump's trade wars

Sep. 4, 2019 3:17 PM EDT

WASHINGTON (AP) — The Federal Reserve said Wednesday the U.S. economy is still growing steadily and most businesses are optimistic, even in the face of President Trump's trade wars. In The Fed's latest report on economic conditions nationwide, hiring increased modestly in most industries, though...

Optimistic US consumers boost spending 0.6% in July

Aug. 30, 2019 10:46 AM EDT

WASHINGTON (AP) — U.S. consumer spending grew 0.6% in July, a healthy gain that suggests American shoppers are largely ignoring concerns about trade tensions and driving the economy forward. The Commerce Department said Friday that personal incomes rose just 0.1%, the smallest gain in 10 months. With...