Latest Economic growth News

EXPLAINER: Turkey's currency is crashing. What's the impact?

Dec. 03, 2021 09:37 AM EST

ANKARA, Turkey (AP) — Turkey’s beleaguered currency has been plunging to all-time lows against the U.S. dollar and the euro in recent months as President Recep Tayyip Erdogan presses ahead with a widely criticized effort to cut interest rates despite surging consumer prices. ...

Fed survey finds supply-chain shortages boosting inflation

Dec. 01, 2021 17:18 PM EST

WASHINGTON (AP) — Many parts of the country were hit by supply chain disruptions and labor shortages in November, the Federal Reserve reported Wednesday. In a survey of business conditions around the country, the Fed's 12 regional banks found that the economy continued...

India's economy grows by 8.4% amid signs of recovery

Nov. 30, 2021 22:30 PM EST

NEW DELHI (AP) — India's economy grew at an 8.4% annual pace in the July-September quarter in the latest sign of an economic recovery in Asia’s third-largest economy, the government reported Tuesday. India suffered one of the biggest setbacks of any major economy in...

Asia shares mixed as investors weigh omicron economic risks

Nov. 29, 2021 21:54 PM EST

TOKYO (AP) — Asian shares were mixed Tuesday as investors continued to cautiously weigh how much damage the new omicron coronavirus variant may unleash on the global economy. Japan's benchmark Nikkei 225 rose 1.0% to 28,577.34 in morning trading. Australia's...

Mexico's economy slowed in 3rd quarter

Nov. 25, 2021 13:56 PM EST

MEXICO CITY (AP) — Mexico’s economy slowed in the third quarter, posting a slight contraction compared to the previous three months, but still well above the same quarter a year earlier, according to data released Thursday by its National Institute of Statistics and Geography. ...

US GDP slowed sharply in Q3 but big rebound expected in Q4

Nov. 24, 2021 12:26 PM EST

WASHINGTON (AP) — The U.S. economy slowed to a modest annual rate of 2.1% in the July-September quarter according to the government’s second read of the data, slightly better than its first estimate. But economists are predicting a solid rebound in the current quarter as long as rising...

Fed's Powell will aim to win a high-stakes bet in 2nd term

Nov. 23, 2021 06:56 AM EST

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell gambled last year that his ultra-low rate policies would help revive an economy that had sunk deep into a pandemic-induced recession. So far, his bet has mostly paid off. Growth and hiring have rebounded faster than...

Ethiopia's economy hit as major clothing maker closes shop

Nov. 19, 2021 11:29 AM EST

NAIROBI, Kenya (AP) — Ethiopia’s once rapidly growing economy is taking another hit tied to its yearlong war, with global clothing manufacturer PVH Corp. saying it is closing its facility there because of the “speed and volatility of the escalating situation.” ...

Survey shows continued growth in rural economy in November

Nov. 18, 2021 13:12 PM EST

OMAHA, Neb. (AP) — The economy in rural parts of 10 Plains and Western states remains on the rise, but confidence in the economy’s future continues to drop, according to a new monthly survey of bankers in region released Thursday. The overall Rural Mainstreet economic...

Editorial Roundup: Illinois

Nov. 15, 2021 12:41 PM EST

Chicago Tribune. November 9, 2021. Editorial: A question for Hawks’ management. What’s more important? Championships or doing the right thing? In May 2010, the Blackhawks, the Chicago hockey franchise once powered by the likes of Bobby Hull, Stan...