Latest Economic growth News

FILE - In this Tuesday, Feb. 11, 2020 file photo, a firefighter looks before entering a bank that was set on fire by anti-government protesters, as a riot policeman passes by, during a protest in downtown Beirut, Lebanon. Fitch Ratings said Tuesday, Feb. 18, 2020, that Lebanon's financial position points to a likely restructuring of the country's massive debt and financial sector as the Arab nation passes though its worst financial and economic crisis in decades. (AP Photo/Hussein Malla, File)

Fitch Ratings: Lebanon finances point to debt restructuring

Feb. 18, 2020 11:21 AM EST

BEIRUT (AP) — Lebanon's financial situation points to a likely restructuring of the country's massive debt and financial sector to preserve declining foreign currency reserves, Fitch Ratings said Tuesday. The credit rating agency's report comes as Lebanese officials are debating whether to pay back $1.2...

Study: Cyprus peace deal would see economy, incomes grow

Feb. 17, 2020 1:05 PM EST

NICOSIA, Cyprus (AP) — A so-far elusive deal to reunite Cyprus would mean more money in pockets on both sides of the ethnically divided island, a World Bank and U.N.-funded report said Monday. Presenting the study's results, authors Enrique Aldaz-Carroll and Reena Badiani-Magnusson said a peace accord...

Spokane area continued upward trend in employment in 2019

Feb. 16, 2020 3:32 PM EST

SPOKANE, Wash. (AP) — An increasing population and a booming economy have spurred employment growth around Spokane, according to state labor officials. The region covering Spokane, Stevens and Pend Oreille counties, saw more than 4,600 new jobs in 2019, surpassing that mark for the fifth consecutive year,...

In this photo taken Tuesday, Feb. 11, 2020, a woman walks past Lunar New Year decor and shuttered bars at a retail district in Beijing, China. Millions of Chinese workers and entrepreneurs are bearing the rising costs of an anti-virus campaign that has shut down large sections of the economy. The government has imposed restrictions nationwide that have stalled travel and sales of real estate and autos. (AP Photo/Ng Han Guan)

Cost of China's anti-virus fight rises with workers idle

Feb. 15, 2020 9:28 PM EST

BEIJING (AP) — Real estate agent Du Xuekun’s sales usually jump after the Lunar New Year holiday. But this year, Du has been at home for a month with no income after vast swathes of China’s economy were shut down in a sweeping effort to contain a virus outbreak. Du, who lives in Jiaozhuo,...

Trader Ronald Madarasz works on the floor of the New York Stock Exchange, Friday, Feb. 14, 2020. U.S. stocks wobbled between small gains and losses in early trading Friday as investors focused on another round of mostly solid corporate earnings. (AP Photo/Richard Drew)

US stocks post small gains, major indexes up for the week

Feb. 14, 2020 5:13 PM EST

Wall Street closed out a wobbly day of trading Friday with the major stock indexes notching their second straight weekly gain. The S&P 500 and Nasdaq eked out tiny gains, good enough to nudge each to an all-time high for the fourth time this week. The Dow Jones Industrial Average ended with a slight loss....

FILE - In this Jan. 22, 2020, file photo a person walks by a retail clothing store in Valley West Mall in West Des Moines, Iowa. On Friday, Feb. 14, the Commerce Department releases U.S. retail sales data for January. (AP Photo/Andrew Harnik, File)

US retail sales up a modest 0.3% in January

Feb. 14, 2020 10:14 AM EST

WASHINGTON (AP) — U.S. retail sales rose a modest 0.3% in January, a slight improvement over December, as unseasonably warm weather boosted sales at hardware stores and furniture stores. The Commerce Department said Friday that the January advance followed a 0.2% rise in sales in December. The slight...

A man wearing a face mask walks past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Friday, Feb. 14, 2020. Asian shares mostly fell Friday as investors turned cautious following a surge in cases of a new virus in China that threatens to crimp economic growth and hurt businesses worldwide. (AP Photo/Vincent Yu)

Asian stocks rebound from early losses as virus toll grows

Feb. 14, 2020 12:31 AM EST

Shares rebounded in Asia on Friday after an early sell-off, though Japan's benchmark declined as investors reacted to news of a growing number of cases of a new virus among the local population. The Nikkei 225 fell 0.6% in morning trading to 23,683.44. Australia's S&P/ASX 200 gained 0.4% to 7,134.70. South...

Bank of Mexico cuts key interest rate quarter-point to 7%

Feb. 13, 2020 5:48 PM EST

MEXICO CITY (AP) — Mexico’s central bank lowered its benchmark interest rate by a quarter-point to 7% on Thursday, seeking to stimulate an economy that entered into recession last year. In a statement, the Bank of Mexico noted “characteristics of deceleration, low inflation, accommodative...

South African President Cyril Ramaphosa delivers his State of the Nation Address in Cape Town, South Africa, Thursday, Feb. 13, 2020. (Sumaya Hisham/Pool Photo via AP)

South Africa seeks more renewable energy amid power cuts

Feb. 13, 2020 3:42 PM EST

JOHANNESBURG (AP) — South Africa’s president said Thursday the coal-dependent country will turn to more renewable energy as one way to help ease power cuts that have “severely set back” efforts to rebuild the weak economy. But he warned of more blackouts in the immediate future. South...

FILE - In this Dec. 11, 2018, file photo, a beam of sunlight is cast on vehicles on a city ring-road clogged with heavy traffic during the morning rush hour in Beijing, China. Auto sales in China have plunged, deepening a painful downturn in the industry’s biggest global market and adding to economic pressure as the country fights a virus outbreak. (AP Photo/Andy Wong, File)

China's auto sales plunge in January, deepening market slump

Feb. 13, 2020 5:42 AM EST

BEIJING (AP) — China’s auto sales plunged in January, deepening a painful downturn in the industry’s biggest global market and adding to economic pressures as the country fights a virus outbreak. Sales of SUVs, sedans and minivans fell 20.2% from a year earlier to 1.6 million, an industry...