Latest Gross domestic product News

FILE - In this July 22, 2020, file photo, two women and a child wait to take a coronavirus test at a mobile testing site at the Charles Drew University of Medicine and Science in Los Angeles. California's plan to safely reopen its economy will begin to require counties to bring down coronavirus infection rates in disadvantaged communities that have been harder hit by the pandemic. (AP Photo/Marcio Jose Sanchez, File)

Survey: Business economists see coronavirus as biggest risk

Oct. 5, 2020 8:07 AM EDT

WASHINGTON (AP) — The U.S. economy faces risks from a potential resurgence of the coronavirus and from the failure so far of Congress to provide additional financial support for struggling individuals and businesses. That judgment emerges from a survey released Monday by the National Association for...

FILE - In this Sept. 2, 2020 file photo, pedestrians walk past a business storefront with store closing and sale signs in Dedham, Mass.  The U.S. economy plunged at a record rate in the spring but is poised to break a record for an increase in the just-ending July-September quarter. The Commerce Department reported Wednesday, Sept. 30, that the gross domestic product, the economy’s total output of goods and services, fell at a rate of 31.4% in the April-June quarter, only slightly changed from the 31.7% drop estimated one month ago.  (AP Photo/Steven Senne)

31.4% spring slide for a US economy likely to shrink in 2020

Sep. 30, 2020 10:51 AM EDT

WASHINGTON (AP) — The U.S. economy plunged at an unprecedented rate this spring and even with a record rebound expected in the just-ended third quarter, the U.S. economy will likely shrink this year, the first time that has happened since the Great Recession. The gross domestic product, the...

PM: Polish economy may shrink less than 3.5% this year

Sep. 28, 2020 1:03 PM EDT

WARSAW, Poland (AP) — Poland's economy could decline less than 3.5% this year even despite the coronavirus pandemic, while next year should see a definite rebound, the country's prime minister declared Monday. Prime Minister Mateusz Morawiecki spoke after a government meeting that amended this...

In this UNTV image, Evariste Ndayishimiye, President of Burundi, speaks in a pre-recorded video message during the 75th session of the United Nations General Assembly, Thursday, Sept. 24, 2020, at UN headquarters in New York. The U.N.'s first virtual meeting of world leaders started Tuesday with pre-recorded speeches from heads-of-state, kept at home by the coronavirus pandemic. (UNTV via AP)

The Latest: UN panel says corruption hits the poor hardest

Sep. 24, 2020 8:16 PM EDT

UNITED NATIONS (AP) — The Latest from the U.N. General Assembly (all times EDT): 8:08 p.m. A U.N. panel says tax abuse, corruption and money laundering are draining hundreds of billions of dollars from governments that could help the world’s poor. A report from the high-level panel on International...

Romania's military gets first U.S. Patriot missile shipment

Sep. 17, 2020 12:10 PM EDT

BUCHAREST, Romania (AP) — Romania’s armed forces received their first shipment of U.S. Patriot surface-to-air missiles on Thursday, part of efforts to upgrade the country’s military capabilities. The missiles made by defense contractor Raytheon, as well as recent purchases of F-16 fighter...

A driver prepares to tie a load of logs to his truck at the Port of Lyttelton near Christchurch, New Zealand, Thursday, Sept. 17, 2020. New Zealand's economy shrank by a record 12.2% in the second quarter due to a strict coronavirus lockdown, but forecasts show some bright spots among the gloom. (AP Photo/Mark Baker)

New Zealand economy shrinks record 12% due to virus lockdown

Sep. 16, 2020 11:03 PM EDT

WELLINGTON, New Zealand (AP) — New Zealand's economy shrank by a record 12.2% in the second quarter due to a strict coronavirus lockdown, but forecasts indicate activity is bouncing back. Statistics New Zealand released figures Thursday showing GDP had fallen far more than ever previously recorded and...

Freshmen Lauren Tamborini and Bailey Donahue move out of Sellery Residence Hall Thursday, Sept. 10, 2020, the University of Wisconsin in Madison, Wis. The students plan on attending class online. Citing rapidly rising COVID-19 cases including two straight days in which one in five student tests came back positive, University of Wisconsin-Madison Chancellor Rebecca Blank locked down the state's largest university campus for two weeks. (Mark Hoffmann/Milwaukee Journal-Sentinel via AP)

The Latest: Wisconsin university eliminates spring break

Sep. 14, 2020 7:31 PM EDT

MADISON, Wis. — The University of Wisconsin-Madison decided Monday to eliminate spring break next semester in an effort to curb the spread of the coronavirus. The university’s Faculty Senate voted 140-7 to erase the nine-day break from the 2021 spring calendar. Officials said the move is designed...

A homeless man stands at a street corner in Johannesburg, Wednesday July 22, 2020. Official statistics show that South Africa's economy has sunk deeper into recession, with its gross domestic product for the second quarter of 2020 plummeting by 51%, largely as a result of COVID-19 and the country's strict lockdown. (AP Photo/Denis Farrell)

Virus lockdown plunges South Africa deeper into recession

Sep. 8, 2020 10:35 AM EDT

JOHANNESBURG (AP) — South Africa’s economy has sunk deeper into recession, with its gross domestic product for the second quarter of 2020 plummeting by 51%, largely as a result of COVID-19 and the country's strict lockdown, according to statistics released Tuesday. South Africa imposed one of the...

A woman, wearing protective masks to prevent the spread of the coronavirus, opens a commercial store in the Plaza Mayor, in the center of Madrid, Spain, Thursday, Sept. 3, 2020. The Madrid region is a coronavirus hot spot, with almost 32,000 new cases officially recorded over the past two weeks. (AP Photo/Bernat Armangue)

Eurozone economic slide during pandemic revised to 11.8%

Sep. 8, 2020 8:35 AM EDT

FRANKFURT, Germany (AP) — The economy of the 19 countries that use the euro shrank by 11.8% in the second quarter, the biggest decline on record and slightly less than originally reported, according to updated figures. Official data released Tuesday by EU statistics agency Eurostat trimmed the fall in...

FILE - In this April 29, 2020 file photo, a sign displaying the size of the national debt is displayed along an empty K Street in Washington.  The Congressional Budget Office has warned that the government this year will run the largest budget deficit, as a share of the economy, since 1945, the year World War II ended. Next year, the federal debt — made up of the year-after-year gush of annual deficits — is forecast to exceed the size of the entire American economy for the first time since 1946.  (AP Photo/Andrew Harnik, File)

AP Explains: US debt will soon exceed size of entire economy

Sep. 5, 2020 11:06 AM EDT

WASHINGTON (AP) — The U.S. government's war against the coronavirus is imposing the heaviest strain on the Treasury since America's drive to defeat Nazi Germany and imperial Japan three-quarters of a century ago. The Congressional Budget Office has warned that the government this year will run the largest...