Latest Economic growth News

Signs of recession worry Trump ahead of 2020

Aug. 17, 2019 6:29 AM EDT

WASHINGTON (AP) — President Donald Trump is warning of an economic crash if he loses reelection, arguing that even voters who personally dislike him should base their ballots on the nation's strong growth and low unemployment rate. But privately, Trump is growing increasingly worried the economy won't look...

Asian shares mixed amid ongoing worries about US-China trade

Aug. 16, 2019 12:36 AM EDT

TOKYO (AP) — Asian shares were mixed Friday as turbulence continued on global markets amid ongoing worries about U.S.-China trade conflict. Japan's benchmark Nikkei 225 recouped early losses to be up 0.3% at 20,456.96 in morning trading. Australia's S&P/ASX 200 inched down nearly 0.1% to 6,402.40,...

Hong Kong cuts taxes to shore up economy amid protests

Aug. 16, 2019 12:07 AM EDT

HONG KONG (AP) — Hong Kong's government announced tax cuts and higher social spending Thursday to reverse a deepening economic slump aggravated by anti-government protests and the U.S.-Chinese tariff war. The territory's financial secretary, Paul Chan, cut this year's official growth forecast to 0 to 1%,...

Walmart delivers big in 2Q

Aug. 15, 2019 10:47 AM EDT

NEW YORK (AP) — Walmart offered a dose of optimism amid growing concerns over weakening economic growth by raising its annual outlook after a strong second quarter. Sales at stores opened at least a year rose 2.8%, its 20th consecutive quarter in the right direction as the world's largest retailer...

US retail sales rise strongly in sign of consumer optimism

Aug. 15, 2019 10:41 AM EDT

WASHINGTON (AP) — Americans spent more at retail stores and restaurants in July, a sign that concerns over weakening economic growth and a persistent trade war that have roiled financial markets have yet to dampen consumer confidence. Retail sales rose a healthy 0.7% last month after a 0.3% gain in June,...

US recession fears stalk markets as stocks fall again

Aug. 15, 2019 7:53 AM EDT

LONDON (AP) — Global stock markets fell sharply again Thursday after Wall Street endured its worst day of the year as recession fears in the U.S. and around the world escalated. Investors across financial assets have been gripped by developments in the U.S. bond market. On Wednesday they focused on the...

Asian stocks lower after US indexes tumble on recession fear

Aug. 15, 2019 12:35 AM EDT

BEIJING (AP) — Asian stock markets followed Wall Street lower on Thursday after the Dow Jones Industrial Average plunged on mounting fears of a possible recession. Market benchmarks in Shanghai, Tokyo and Hong Kong all retreated. U.S. investors dumped stocks, sending the Dow into its biggest one-day drop...

German economy shrinks, casting shadow over European growth

Aug. 14, 2019 10:30 AM EDT

FRANKFURT, Germany (AP) — Germany's economy shrank by 0.1 percent in the second quarter as global trade conflicts and troubles in the auto industry held back the largest member of the 19-country euro currency union. The weak performance darkened prospects for the entire eurozone, where the European Central...

Global stocks sink on trade war jitters, economic data

Aug. 13, 2019 7:49 AM EDT

BEIJING (AP) — Global stock markets were retreating again Tuesday amid anxiety the U.S.-Chinese trade war will hurt already slowing global economic growth. Market benchmarks in London and Frankfurt fell, while Shanghai and Tokyo closed down. Hong Kong's main index lost 2.1% as pro-democracy protesters...

China's auto sales sink in July, extending yearlong decline

Aug. 13, 2019 1:38 AM EDT

BEIJING (AP) — China's auto sales sank again in July, extending a yearlong contraction in the industry's biggest global market. Sales of sedans, SUVs and minivans declined 3.9% from a year earlier to 1.5 million, according to an industry group, the China Association of Automobile Manufacturers. Sales of...