Latest Recessions and depressions News

Editorials from around New England

Oct. 11, 2019 7:37 PM EDT

Editorials from around New England: CONNECTICUT We need to stop calling the pattern of sex abuse in the Catholic Church a travesty. It was a criminal conspiracy and the state hasn't done enough to hold the guilty accountable. Hartford Courant Oct. 6 The latest revelations about sexual abuse aren't new but they...

UAW-GM strike proving costly to more than workers, automaker

Oct. 11, 2019 12:29 AM EDT

DETROIT (AP) — Zack Bazzi is not seeing workers from a nearby General Motors plant swing through the gas station where he works on Detroit's east side since they went on strike nearly a month ago. Business is "slow," Bazzi said from behind the counter of the empty Marathon station within a short walk of...

UK looks set to avoid recession in the run-up to Brexit date

Oct. 10, 2019 11:25 AM EDT

LONDON (AP) — The British economy looks like it will avoid falling into recession in the run-up to the scheduled Brexit date after official figures showed that growth held up in the three months through August. Though the Office for National Statistics found that the British economy contracted by a monthly...

Fed officials were sharply divided over September rate cut

Oct. 9, 2019 4:27 PM EDT

WASHINGTON (AP) — Federal Reserve officials were sharply divided last month when they decided to cut their key policy rate for a second time this year, a split that indicates the path forward for future rate cuts remains cloudy. Minutes of the discussion at the September meeting released Wednesday showed...

US job openings slip 1.7% in August as labor market slows

Oct. 9, 2019 11:22 AM EDT

WASHINGTON (AP) — U.S. job openings fell 1.7% in August and hires edged down, bolstering views that the labor market may lose momentum as economic uncertainty and a manufacturing recession squeeze employers. The Labor Department says employers advertised 7.1 million available jobs in August, down from 7.2...

Moyes' novel, set in depression, is remarkably contemporary

Oct. 7, 2019 1:46 PM EDT

"The Giver of Stars: a Novel" (Pamela Dorman Books), by Jojo Moyes At the outset of Jojo Moyes' "The Giver of Stars," Alice Van Cleve has gone from the frying pan into the fire. An outspoken young woman who doesn't quite fit in with polite English society, Alice jumps at the chance to leave her native England...

Business economists foresee slowdown in US growth

Oct. 7, 2019 3:38 AM EDT

WASHINGTON (AP) — The nation's business economists think President Donald Trump's trade war with China will contribute to a sharp slowdown in economic growth this year and next, raising concerns about a possible recession starting late next year. The latest survey by a panel of 51 forecasters with the...

Portugal's Socialists prepare 4 more years in government

Oct. 6, 2019 7:52 PM EDT

LISBON, Portugal (AP) — The center-left Socialist Party got the most votes in Portugal's general election Sunday, leaving it poised to continue leading the government for another four years. With 226 seats in the 230-seat parliament awarded in the official count, the Socialists reached 106 seats, compared...

US unemployment rate hits a 50-year low even as hiring slows

Oct. 4, 2019 3:11 PM EDT

WASHINGTON (AP) — The U.S. unemployment rate fell to 3.5% in September, the lowest level in nearly five decades, even though employers appeared to turn more cautious and slowed their hiring. The economy added a modest 136,000 jobs, enough to likely ease worries that an economy weakened by the U.S.-China...

German machinery orders plummet, adding to recession fears

Oct. 4, 2019 5:26 AM EDT

BERLIN (AP) — An industry association says orders for German machinery, an important export, plummeted in August, adding to signs of a recession in Europe’s biggest economy. The VDMA group said Friday that orders were down 17% compared with a year earlier, with demand from abroad dropping 19% and...