Latest Economic growth News

Exacerbated by pandemic, child care crisis hampers economy

Oct. 27, 2021 11:50 AM EDT

SEATTLE (AP) — After Bryan Kang’s son was born in July, the occupational therapist and his wife, a teacher, started looking for child care in the Los Angeles area. The couple called eight day care centers: Some didn't have spots for months; others stopped taking their calls and some never...

US consumer confidence rebounds in October after 3 declines

Oct. 26, 2021 12:14 PM EDT

SILVER SPRING, Md. (AP) — U.S. consumer confidence rose in October after three straight declines as the public's anxiety about the delta variant of the coronavirus appear to have abated. The Conference Board reported Tuesday that its consumer confidence index rose to a...

Nigeria launches digital currency 'to drive economic growth'

Oct. 25, 2021 12:04 PM EDT

LAGOS, Nigeria (AP) — Nigeria has launched a digital currency which the Central Bank of Nigeria says is a "major step forward in the evolution of money” in Africa’s most populous country. President Muhammadu Buhari said at the launch Monday that the digital currency...

Business economists less optimistic about next year's growth

Oct. 25, 2021 00:09 AM EDT

WASHINGTON (AP) — The nation's business economists are slightly less optimistic about growth prospects over the next year, noting a number of threats ranging from higher-than-expected inflation to lingering disruptions from COVID-19 and snarled supply chains. The...

US budget deficit hits $2.77 trillion in 2021, 2nd highest

Oct. 22, 2021 15:41 PM EDT

WASHINGTON (AP) — The U.S. budget deficit totaled $2.77 trillion for 2021, the second highest on record but an improvement from the all-time high of $3.13 trillion reached in 2020. The deficits in both years reflect trillions of dollars in government spending to counteract the devastating...

Strong economic growth continues in rural parts of 10 states

Oct. 21, 2021 15:43 PM EDT

OMAHA, Neb. (AP) — Strong economic growth continues in rural parts of 10 Plains and Western states, according to a new monthly survey of bankers in the region. The overall economic index for the region improved in October to 66.1 from September's already-strong 62.5...

30 business leaders are promoting sustainable investments

Oct. 19, 2021 20:09 PM EDT

UNITED NATIONS (AP) — Thirty top business leaders are seeking to encourage private investment to help the U.N. achieve development goals for 2030, including tackling climate change, preserving the environment, ending poverty, promoting economic growth, and improving health care and...

Walz launches reelection campaign in divided Minnesota

Oct. 19, 2021 16:14 PM EDT

MINNEAPOLIS (AP) — Democratic Gov. Tim Walz launched his campaign for a second term Tuesday in an increasingly divided Minnesota, saying he made the tough calls necessary to beat back the COVID-19 pandemic and revive the economy. “Peggy and I asked Minnesotans to come...

IMF sees economic growth with higher inflation for Mideast

Oct. 19, 2021 09:52 AM EDT

DUBAI, United Arab Emirates (AP) — The Middle East is expected to see significant economic growth this year, but also soaring inflation and food prices, as coronavirus vaccines are unevenly rolled out across the region, the International Monetary Fund said Tuesday. The...

Commerce head out to save US jobs, 1 computer chip at a time

Oct. 18, 2021 14:01 PM EDT

WASHINGTON (AP) — Gina Raimondo only wears watches made by Bulova — a company that laid off her scientist father, closed its Rhode Island factory and moved production to China in 1983. The watches give Raimondo, the U.S. commerce secretary, a sense of mission as...