Latest Recessions and depressions News

California feud with Trump could impact budget surplus

Dec. 9, 2019 8:29 PM EST

SACRAMENTO, Calif. (AP) — California is preparing for a much smaller budget surplus next year because of its ongoing feud with the Trump administration, one of the state's chief budget writers said Monday. California is projected to have a $7 billion surplus, with $3 billion of it available to spend on...

Ex-Fed Chair Volcker dies, tamed inflation with recession

Dec. 9, 2019 12:49 PM EST

Paul Volcker, who as Federal Reserve chairman in the early 1980s elevated interest rates to historic highs and triggered a recession as the price of quashing double-digit inflation, has died, according to his office. He was 92. Volcker took charge of the Fed in August 1979, when the U.S. economy was in the grip...

Business economists see US slowing but avoiding recession

Dec. 9, 2019 9:47 AM EST

Washington (AP) — The nation’s business economists expect U.S. economic growth to decelerate this year and next but for the economy to avoid stumbling into recession, extending a record-breaking expansion already in its 11th year. The latest survey by 53 forecasters with the National Association for...

German exports rise in October, defying expectations

Dec. 9, 2019 3:32 AM EST

BERLIN (AP) — German exports posted a second consecutive month-on-month increase in October, defying economists' expectations of a slight decline. The Federal Statistical Office said Monday that exports rose 1.2% compared with the previous month. That followed a 1.5% increase in September. In year-on-year...

South Dakota schools, business revive skilled labor career

Dec. 9, 2019 1:01 AM EST

SIOUX FALLS, S.D. (AP) — When local business owner Jeff Rhone signed on to teach shop at O'Gorman High School more than a year ago, he hoped to revitalize a class that had been dwindling in numbers. When the program stopped a few years ago, only five to seven students were taking it each semester. But...

STORY REMOVED: AP-NABE Economic Outlook

Dec. 8, 2019 4:12 PM EST
WASHINGTON (AP) — The Associated Press has withdrawn its story about the United States' economic outlook because the report has an embargo of 12:01 a.m. Monday, Dec. 9. AP will resend the story when the embargo has lifted.

US firms keep hiring, easing worries of weakening economy

Dec. 6, 2019 5:45 PM EST

WASHINGTON (AP) — American businesses have complained for years that they can’t find the workers they need to fill available jobs. November’s robust hiring gain suggests that at least some have found a way to do so. With the unemployment rate now at a half-century low of 3.5%, many economists...

German factory production drops in Oct as economy struggles

Dec. 6, 2019 2:55 AM EST

BERLIN (AP) — October factory production dropped in Germany over the previous month in another sign the economy, Europe's largest, is struggling. The Federal Statistical Office reported Friday that industrial production fell 1.7% in October over September when adjusted for price, seasonal and calendar...

Asian stocks follow Wall Street lower on trade worries

Dec. 4, 2019 12:11 AM EST

BEIJING (AP) — Asian stock markets followed Wall Street lower Wednesday after President Donald Trump cast doubt over the potential for a trade deal with China this year. Benchmarks in Tokyo and Hong Kong fell more than 1% while Shanghai and South Korea also retreated. Trump said he has "no deadline" for a...

Hong Kong leader says new US law, violence will harm economy

Dec. 3, 2019 3:47 AM EST

HONG KONG (AP) — Hong Kong leader Carrie Lam said Tuesday that clashes between protesters and police last weekend have dampened her hopes that a recent lull in violence would allow the territory’s economy to recover. The government will soon launch a fourth round of measures to support business,...