Latest Gross domestic product News

A girl helps to push baskets with products that her family has for sale at a street market during a government-ordered lockdown to curb the spread of COVID-19 in Caracas, Venezuela, Wednesday, July 8, 2020. (AP Photo/Ariana Cubillos)

UN says Latin America and Caribbean are COVID-19 `hot spot'

Jul. 9, 2020 7:30 PM EDT

UNITED NATIONS (AP) — Latin America and the Caribbean have become “a hot spot” for the COVID-19 pandemic, with several countries now having one of the highest per capita infection rates and absolute number of cases in the world, U.N. Secretary-General Antonio Guterres said Thursday. The U.N....

Residents wearing masks to curb the spread of the coronavirus line up for COVID-19 test outside the Worker's Stadium in Beijing on Tuesday, June 30, 2020. Test sites have sprung up through the Chinese capital as test have become a daily normal after the latest outbreak of the coronavirus, (AP Photo/Ng Han Guan)

The Latest: SKorea weighs listing churches as 'high risk'

Jun. 30, 2020 9:58 PM EDT

SEOUL, South Korea -- South Korea is considering including religious facilities on the same list with nightclubs, hostess bars and karaoke rooms as “high risk” venues for the spread of COVID-19 following a slew of transmissions tied to church gatherings. South Korean Prime Minister Chung Sye-kyun...

U.S. Secretary of Defense Mark Esper, left, and NATO Secretary General Jens Stoltenberg participate in a joint press conference at NATO headquarters in Brussels, Friday, June 26, 2020. U.S. Secretary of Defense Mark Esper is at NATO to follow-up on a broad range of issues raised during last week's NATO defense ministerial. (AP Photo/Virginia Mayo, Pool)

Pentagon chief seeks to reassure NATO over US troop plans

Jun. 26, 2020 11:59 AM EDT

BRUSSELS (AP) — U.S. Defense Secretary Mark Esper on Friday sought to reassure allies at NATO that Washington will consult them on any future troop movements, after President Donald Trump surprised partners at the military alliance by announcing the withdrawal of thousands of personnel from Germany. At a...

An empty parking lot is seen at a temporarily closed Kohl's department store, Wednesday, April 29, 2020, in Havertown, Pa.  Devastated by the coronavirus, the U.S. economy is sinking.  Now, as some businesses in a few states start to trickle back to work, hopes are beginning to arise that the economy, damaged as it is, might be poised to rebound by the second half of the year.   (AP Photo/Matt Slocum)

US GDP fell at 5.0% rate in Q1; worse is likely on the way

Jun. 25, 2020 1:04 PM EDT

WASHINGTON (AP) — The U.S. economy shrank at a 5.0% rate in the first quarter and a vastly worse performance is expected in the current three-month period, when the coronavirus pandemic began to spread across the U.S. The Commerce Department reported Thursday that the decline in the gross domestic product,...

Residents wearing face masks to curb the spread of the coronavirus hold up paper bags to protect against the rain in Beijing on Thursday, June 18, 2020. A new coronavirus outbreak in Beijing saw a decline in daily cases Thursday while the United States increased pressure on China's leaders to reveal what they know about the pandemic. (AP Photo/Ng Han Guan)

Asia Today: Beijing's daily cases drop, India's rise sharply

Jun. 18, 2020 9:28 AM EDT

BEIJING (AP) — China’s capital reported a decline in newly confirmed cases of coronavirus Thursday, with a public health expert saying a recent outbreak in the city was under control and the number of new cases should drop in the coming days. Authorities have confirmed 158 cases in Beijing in the...

Survey: Business economists expect worst slump since 1940s

Jun. 8, 2020 12:01 AM EDT

WASHINGTON (AP) — Business economists expect the United States to suffer its worst downturn this year in more than seven decades before growth resumes sometime next year. Overhanging that forecast, though, is the risk that a second wave of the coronavirus could threaten the economy once again. A survey...

A bartender brings drinks to customers in a cafe of Saint Jean de Luz, southwestern France, Tuesday June 2, 2020. The French way of life resumes Tuesday with most virus-related restrictions easing as the country prepares for the summer holiday season amid the pandemic. Restaurants and cafes reopen Tuesday with a notable exception for the Paris region, the country's worst-affected by the virus, where many facilities will have to wait until June 22 to reopen. (AP Photo/Bob Edme)

Parisians return to cafes; Latin America sees virus surge

Jun. 2, 2020 10:03 AM EDT

PARIS (AP) — Parisians returned to the City of Light’s beloved sidewalk cafes as lockdown restrictions eased Tuesday, but health experts expressed deep concerns as several Latin American countries opted to reopen their economies despite a rapid rise in coronavirus cases. The post-lockdown freedom...

Senate Minority Leader Sen. Chuck Schumer of N.Y., center, arrives for a news conference on Capitol Hill in Washington, Tuesday, May 12, 2020. (AP Photo/Patrick Semansky)

CBO projects virus impact could trim GDP by $15.7 trillion

Jun. 1, 2020 8:06 PM EDT

WASHINGTON (AP) — The Congressional Budget Office said Monday that the U.S. economy could be $15.7 trillion smaller over the next decade than it otherwise would have been if Congress does not mitigate the economic damage from the coronavirus. The CBO, which had already issued a report forecasting a severe...

FILE - In this July 22, 2019 photo, trucks hauling shipping containers wait to unload at the Port of Oakland in Oakland, Calif.  The Commerce Department issues its second estimate of how the U.S. economy performed in the first quarter of 2020 on Thursday, May 28, 2020.(AP Photo/Ben Margot, File)

US economy shrank at 5% annual rate in Q1

May. 28, 2020 9:47 AM EDT

WASHINGTON (AP) — The U.S. economy shrank at an even faster pace than initially estimated in the first three months of this year with economists continuing to expect a far worse outcome in the current April-June quarter. The Commerce Department reported Thursday that the gross domestic product, the...

This Week: New home sales, US GDP, consumer spending

May. 25, 2020 1:10 AM EDT

A look at some of the key business events and economic indicators upcoming this week: HOUSING MARKET BELLWETHER The economic fallout from the coronavirus pandemic has spared few areas of the economy, and the market for newly built homes is no exception. Sales of new U.S. homes plunged 15.4% in March to a...