Latest Gross domestic product News

Germany's Merkel: 2% of GDP on defense by 2031 'realistic'

Nov. 7, 2019 11:20 AM EST

BERLIN (AP) — Germany's defense minister is calling for the country to spend 2% of gross domestic product on defense by 2031, a target Chancellor Angela Merkel called "realistic but ambitious." NATO members in 2014 agreed to "aim to move toward" increasing defense spending to 2% of GDP by 2024. The U.S....

US economy grows at modest 1.9% rate in third quarter

Oct. 30, 2019 4:43 PM EDT

WASHINGTON (AP) — The U.S. economy slowed to a modest growth rate of 1.9% in the summer as consumer spending downshifted and businesses continued to trim their investments in response to trade war uncertainty and a weakening global economy. The Commerce Department reported Wednesday that the July-September...

US Interior Department activities generated $8B for Colorado

Oct. 16, 2019 4:17 PM EDT

GRAND JUNCTION, Colo. (AP) — Activities managed by the U.S. Department of Interior have resulted in about $8 billion contributed to Colorado's gross domestic product primarily from energy and mineral development. The Grand Junction Daily Sentinel reports that the Interior Department released a report...

US economy grew at modest 2% rate in second quarter

Sep. 26, 2019 9:32 AM EDT

WASHINGTON (AP) — The U.S. economy grew at a modest 2% annual rate in the second quarter, a pace sharply lower than the 3%-plus growth rates seen over the past year. Many analysts believe growth will slow further in coming quarters as global weakness and rising trade tensions exert a toll. The April-June...

Can green investment help relaunch Germany's economy?

Sep. 19, 2019 7:58 AM EDT

FRANKFURT, Germany (AP) — A recession looms for Germany and the European Central Bank is pleading for governments to spend more to revitalize economic growth. Yet despite having the luxury of borrowing money for less than nothing, the German government is keeping a tight rein on its finances. A debate over...