Latest Economic growth News

A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, Jan. 18, 2021. Shares fell Monday across most of Asia following a retreat on Wall Street, but benchmarks in Hong Kong and Shanghai rose after data showed the Chinese economy grew a solid 2.3% in 2020. (AP Photo/Vincent Yu)

Asian shares mostly lower, China gains on GDP rebound

Jan. 17, 2021 11:38 PM EST

Shares fell Monday across most of Asia following a retreat on Wall Street, but benchmarks in Hong Kong and Shanghai rose after data showed the Chinese economy grew a solid 2.3% in 2020. The stronger than expected performance for the world's second-largest economy helped counter growing wariness among investors...

FILE - In this Oct. 19, 2020, file photo, women eating snack walk by a Chanel cosmetic shop at the capital city's popular shopping mall in Beijing. China’s economy grew 2.3% in 2020 as a recovery from the coronavirus pandemic accelerated while the United States, Europe and Japan struggled with disease flare-ups. (AP Photo/Andy Wong, File)

China economy grows in 2020 as rebound from virus gains

Jan. 17, 2021 11:06 PM EST

BEIJING (AP) — China eked out 2.3% economic growth in 2020, likely becoming the only major economy to expand as shops and factories reopened relatively early from a shutdown to fight the coronavirus while the United States, Japan and Europe struggled with disease flare-ups. Growth in the three months...

China reports its economy grew 2.3% percent in 2020 as its recovery from the coronavirus pandemic accelerated

Jan. 17, 2021 9:01 PM EST
BEIJING (AP) — China reports its economy grew 2.3% percent in 2020 as its recovery from the coronavirus pandemic accelerated.
President-elect Joe Biden speaks during an event at The Queen theater in Wilmington, Del., Friday, Jan. 8, 2021, to announce key administration posts. (AP Photo/Susan Walsh)

Impeachment complicates the early days of Biden's presidency

Jan. 15, 2021 1:35 AM EST

WASHINGTON (AP) — President-elect Joe Biden already faces the daunting task of steering a newly announced $1.9 trillion coronavirus relief bill through a closely divided Congress as the pandemic and its economic fallout grow. Now Biden will have to do it with President Donald Trump’s impeachment...

A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea, Friday, Jan. 15, 2021. Asian shares were mixed on Friday after a late slide in several Big Tech stocks left major indexes lower on Wall Street. (AP Photo/Lee Jin-man)

Asian shares mixed following Biden speech, Wall St retreat

Jan. 14, 2021 11:08 PM EST

Asian shares were mixed on Friday after a late slide in several Big Tech stocks left major indexes lower on Wall Street. U.S. futures were trading slightly lower after President-elect Joe Biden announced his plans to propose a $1.9 billion package to help along a recovery from the coronavirus pandemic. Biden...

President-elect Joe Biden speaks during an event at The Queen theater in Wilmington, Del., Friday, Jan. 8, 2021, to announce key administration posts. (AP Photo/Susan Walsh)

Impeachment complicates the early days of Biden's presidency

Jan. 14, 2021 8:20 PM EST

WASHINGTON (AP) — President-elect Joe Biden already faces the daunting task of steering a newly announced $1.9 trillion coronavirus relief bill through a closely divided Congress as the pandemic and its economic fallout grow. Now Biden will have to do it with President Donald Trump’s impeachment...

A cargo ship passes under a bridge over the river Main in Frankfurt, Germany, Wednesday, Jan. 13, 2021. (AP Photo/Michael Probst)

German economy shrank 5% in pandemic year 2020

Jan. 14, 2021 7:47 AM EST

FRANKFURT, Germany (AP) — The German economy, Europe's largest, shrank by 5% in the pandemic year 2020, ending a decade of growth as lockdowns wiped out much business and consumer activity. As dreary as the numbers were, the drop was smaller than many had expected, and a high savings rate suggested...

A container ship leaves a port in Nantong in eastern China's Jiangsu Province, Dec. 20, 2020. China's exports rose in 2020 despite pressure from the coronavirus pandemic and a tariff war with Washington, boosting its politically volatile trade surplus to $535 billion, one of the highest ever reported. (Chinatopix via AP)

China 2020 exports up despite virus; surplus surges to $535B

Jan. 14, 2021 12:48 AM EST

BEIJING (AP) — China’s exports rose in 2020 despite pressure from the coronavirus and a tariff war with Washington, boosting its politically volatile trade surplus to $535 billion, one of the highest ever reported. Exports increased 3.6% over 2019 to $2.6 trillion, an improvement on the previous...

A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Tuesday, Jan. 12, 2021. Asian stocks advanced Tuesday as investors watched for details of U.S. President-elect Joe Biden's promised economic stimulus plan. (AP Photo/Vincent Yu)

Asian stocks gain as markets watch for Biden stimulus plan

Jan. 12, 2021 12:02 AM EST

BEIJING (AP) — Asian stocks advanced Tuesday as investors watched for details of President-elect Joe Biden's promised economic stimulus plan. Shanghai, Tokyo and Hong Kong were higher. Seoul declined while Sydney swung between gains and losses. Overnight, Wall Street declined following a string of...

In this photo provided by the North Korean government, North Korean leader Kim Jong Un speaks at the ruling party congress in Pyongyang, North Korean, Sunday, Jan. 10, 2021. Kim was given a new title, “general secretary” of the ruling Workers’ Party, formerly held by his late father and grandfather, state media reported Monday, Jan. 11, in what appears to a symbolic move aimed at bolstering his authority amid growing economic challenges. Independent journalists were not given access to cover the event depicted in this image distributed by the North Korean government. The content of this image is as provided and cannot be independently verified. Korean language watermark on image as provided by source reads:

N. Korea's Kim adds title: General secretary of ruling party

Jan. 11, 2021 3:01 AM EST

SEOUL, South Korea (AP) — North Korean leader Kim Jong Un was given the title of general secretary of the ruling Workers’ Party formerly held by his late father and grandfather, state media reported Monday, in a move apparently aimed at bolstering his authority amid growing economic challenges. The...