Latest Gross domestic product News

US revises up last quarter's economic growth to 2.9% rate

Nov. 30, 2022 09:24 AM EST

WASHINGTON (AP) — Despite high interest rates and chronic inflation, the U.S. economy grew at a 2.9% annual rate from July through September, the government said Wednesday in a healthy upgrade from its initial estimate. Last quarter's rise in the U.S. gross domestic product — the...

German economy sees stronger growth in 3rd quarter

Nov. 25, 2022 04:08 AM EST

BERLIN (AP) — Germany's economy saw stronger growth in the third quarter than expected as consumer spending picked up following the lifting of pandemic restrictions. Officials figures released Friday show gross domestic product in Europe's biggest economy grew by 0.4% from July to...

Greek economic growth seen lower in 2023 amid energy woes

Nov. 21, 2022 09:43 AM EST

ATHENS, Greece (AP) — Greece’s economy is projected to grow by 1.8% next year, according to the country’s 2023 budget, slightly lower than the figures predicted last month as higher energy costs and inflation take a toll. The final 2023 budget submitted to parliament on Monday...

Japan's economy shrinks as consumers hold back on spending

Nov. 14, 2022 22:03 PM EST

TOKYO (AP) — The Japanese economy contracted at an annual rate of 1.2% in the July-September quarter, as consumption declined amid rising prices. Seasonally adjusted real gross domestic product for the world’s third-largest economy shrank 0.3% on-quarter, according to government...

UK economy shrinks as economists warn of more pain to come

Nov. 11, 2022 06:32 AM EST

LONDON (AP) — Britain’s economy shrank in the three months to September, official statistics said Friday, as forecasters warned of many months of contraction to come. The Office for National Statistics said gross domestic product fell by 0.2% between July and September, a...

German economy to shrink in 2023, government advisers expect

Nov. 09, 2022 10:32 AM EST

BERLIN (AP) — The German government's panel of independent economic advisers forecast Wednesday that Europe's biggest economy will shrink by 0.2% next year. The five-member panel's report came after official figures late last month showed unexpected growth in the third quarter,...

On election eve, the state of the US economy is a blurry one

Nov. 01, 2022 11:22 AM EDT

WASHINGTON (AP) — Help-wanted signs are everywhere. Employers are posting nearly two job openings for every unemployed American. Hiring is on track for its second-strongest year in government records dating to 1940. And the economy grew solidly over the summer. From certain angles,...

IMF says Mideast, North Africa economies resilient in 2022

Oct. 31, 2022 01:42 AM EDT

DUBAI, United Arab Emirates (AP) — The economies of Middle Eastern and North African countries were resilient this year, but double-digit inflation is expected to slow growth in 2023, the International Monetary Fund said Monday. The IMF forecast GDP growth at 5% in 2022 for...

Germany sees unexpected growth in 3rd quarter; inflation up

Oct. 28, 2022 18:20 PM EDT

BERLIN (AP) — The German economy grew in the third quarter, an unexpectedly positive performance powered largely by private spending, official figures showed Friday. But the immediate outlook for Europe's biggest economy remained gloomy, with inflation rising again in October. ...

US economy returned to growth last quarter, expanding 2.6%

Oct. 27, 2022 15:11 PM EDT

WASHINGTON (AP) — The U.S. economy grew at a 2.6% annual rate from July through September, snapping two straight quarters of contraction and overcoming high inflation and interest rates just as voting begins in midterm elections in which the economy's health has emerged as a paramount issue. ...