Latest Economy News

China cuts 1-year benchmark rate, moving to boost economy as world markets languish

Jul. 25, 2024 00:58 AM EDT

BANGKOK (AP) — China ratcheted up its effort to reinvigorate its economy Thursday by cutting a key policy rate and interest paid on bank deposits. The move coincided with a downturn in world stocks, extending losses in Chinese markets that have declined this year while share prices...

US growth likely picked up last quarter after a sluggish start to 2024, reflecting resilient economy

Jul. 25, 2024 00:26 AM EDT

WASHINGTON (AP) — The American economy, boosted by healthy consumer spending, is believed to have regained some momentum this spring after having begun 2024 at a sluggish pace. The Commerce Department is expected to report Thursday that the gross domestic product — the...

China moves to pep up its slowing economy, lays out roadmap for its future

Jul. 22, 2024 07:19 AM EDT

BANGKOK (AP) — China's ruling Communist Party released a 50-page roadmap addressing long-term challenges confronting the world's second-largest economy, while the central bank cut key interest rates Monday in a surprise move to pep up the struggling property sector. The action by...

China's central bank cuts a key interest rate, moving to revive property sales and put more pep into its slowing economy

Jul. 22, 2024 00:32 AM EDT
BEIJING (AP) — China's central bank cuts a key interest rate, moving to revive property sales and put more pep into its slowing economy.

China Communist Party policy meeting endorses leader Xi's high-tech vision for economy

Jul. 18, 2024 11:19 AM EDT

BEIJING (AP) — China’s ruling Communist Party wrapped up a top-level meeting on Thursday by endorsing policies aimed at advancing the country’s technological power and fortifying its national security. A statement released when the four-day meeting ended provided only a...

China's Communist Party charts technology- and security-focused development for reviving the economy

Jul. 17, 2024 07:28 AM EDT

BANGKOK (AP) — In a year of major elections that will determine the destinies of many countries, China’s ruling Communist Party is holding closed, top-level meetings in Beijing to set strategies for reviving its slowing economy. State media likened the meetings that end Thursday...

IMF's economic view: Brighter outlook for China and India but tepid global growth

Jul. 16, 2024 09:49 AM EDT

WASHINGTON (AP) — The International Monetary Fund on Tuesday upgraded its economic outlook this year for China, India and Europe while modestly lowering expectations for the United States and Japan. But it says worldwide progress against accelerating prices has been slowed by...

Thailand is set to roll out a controversial $13.8 billion handout plan in digital money to citizens

Jul. 15, 2024 20:42 PM EDT

BANGKOK (AP) — Thailand's prime minister said Monday that eligible businesses and individuals can register from August for digital cash handouts, a controversial program that will cost billions of dollars and is meant to boost the lagging economy. The government announced in April...

China's Communist Party will signal its approach to the country's challenges at a meeting this week

Jul. 15, 2024 06:50 AM EDT

BEIJING (AP) — China's ruling Communist Party started a four-day meeting Monday that is expected to lay out a strategy for self-sufficient economic growth in an era of heightened national security concerns and restrictions on access to American technology. While the meeting...

China's economy slowed in the last quarter as weak consumer demand dragged on growth

Jul. 15, 2024 00:42 AM EDT

BANGKOK (AP) — China's economy expanded at a slower-than-forecast 4.7% annual rate in the last quarter, the government reported Monday, while emphasizing signs of improvement in factory output, income and investment. The expansion was sharply below the 5.3% annual pace of growth...