Latest Economic growth News

A cobbler covers his face with a scarf and works in the shade of a dilapidated building in Kohima, capital of the northeastern Indian state of Nagaland, Friday, May 29, 2020. India’s economic growth will fall to 4.2% in financial year 2019-20 as compared to 6.1% in the previous year and likely to contract this year because of the coronavirus pandemic. Millions of workers have fled cities after losing their jobs as authorities imposed the lockdown in March and started easing it early this month to promote economic activity. (AP Photo/Yirmiyan Arthur)

India's economic growth dips during coronavirus pandemic

May. 29, 2020 1:52 PM EDT

NEW DELHI (AP) — India’s economy grew by 4.2% in the fiscal year that ended in March, down from 6.1% the previous year, the government said Friday, and is likely to contract this year because of the coronavirus pandemic. The growth dipped to 3.1% in January-March, the last quarter of the fiscal...

FILE - In this Feb. 20, 2020, file photo President Donald Trump arrives to speak at a campaign rally at The Broadmoor World Arena in Colorado Springs, Colo. As the economy faces a once-in-a-century recession, with more than 38 million people out of work, Trump is increasingly talking up a future recovery that probably won't materialize until after the November election. (AP Photo/Evan Vucci, File)

White House punts economic update as election draws near

May. 29, 2020 12:06 AM EDT

WASHINGTON (AP) — The White House has taken the unusual step of deciding not to release an updated economic forecast as planned this year, a fresh sign of the administration's anxiety about how the coronavirus has ravaged the nation just months before the election. The decision, which was confirmed...

FILE - In this Feb. 20, 2020, file photo President Donald Trump arrives to speak at a campaign rally at The Broadmoor World Arena in Colorado Springs, Colo. As the economy faces a once-in-a-century recession, with more than 38 million people out of work, Trump is increasingly talking up a future recovery that probably won't materialize until after the November election. (AP Photo/Evan Vucci, File)

White House punts economic update as election draws near

May. 28, 2020 5:58 PM EDT

WASHINGTON (AP) — The White House took the unusual step on Thursday of deciding not to release an updated economic forecast as planned this year, a fresh sign of the administration's anxiety about how the coronavirus has ravaged the nation just months before the election. The decision, which was confirmed...

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...

A man stands in front of an electronic stock board showing Japan's Nikkei 225 index as a track goes by at a securities firm in Tokyo Friday, May 22, 2020. Shares are slipping in Asia as tensions flare between the U.S. and China and as more job losses add to the economic fallout from the coronavirus pandemic. (AP Photo/Eugene Hoshiko)

Wall Street ends a choppy day mostly higher; crude oil falls

May. 22, 2020 5:08 PM EDT

Stock indexes finished mostly higher Friday as Wall Street shook off an early slide, closing out a solid week of gains for the market. The S&P 500 index inched up 0.2% after having been down 0.5%. It ended the week with a 3.2% gain, largely due to a big rally on Monday that offset all of the benchmark...

Delegates applaud as Chinese President Xi Jinping arrives for the opening session of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, Friday, May 22, 2020. (AP Photo/Ng Han Guan, Pool)

China boosts spending for virus-hit economy, takes up HK law

May. 22, 2020 7:33 AM EDT

BEIJING (AP) — China’s No. 2 leader on Friday promised higher spending to revive its pandemic-stricken economy and curb surging job losses but avoided launching a massive stimulus on the scale of the United States or Japan. Premier Li Keqiang told lawmakers Beijing would set no economic growth...

A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Thursday, May 21, 2020. Asian stock markets are mixed after Wall Street rose amid Chinese trade tension with Washington and Australia. Investors looked ahead to Friday’s meeting of China’s legislature for details of possible new steps by Beijing to stimulate its virus-battered economy.(AP Photo/Vincent Yu)

Asian shares fall on US friction with China, Hong Kong fears

May. 21, 2020 11:56 PM EDT

BANGKOK (AP) — Shares slipped in Asia on Friday as tensions flared between the U.S. and China and as more job losses compounded the economic fallout from the coronavirus pandemic. Hong Kong’s benchmark led regional losses, dropping 3.9% to 23,332.78 after the central government in Beijing said...

Zhang Youxia, vice chairman of China's Central Military Commission, attends the opening session of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, Friday, May 22, 2020. (AP Photo/Ng Han Guan, Pool)

Key points about China's legislative session

May. 21, 2020 10:37 PM EDT

BEIJING (AP) — Thousands of delegates from across China are in Beijing for this year’s annual session of the country’s rubber-stamp legislature and its advisory body, meetings delayed by more than two months because of the coronavirus outbreak. The National People’s Congress session...

China promises higher spending to reverse surging job losses, sets no economic growth target to focus on virus fight

May. 21, 2020 9:59 PM EDT
BEIJING (AP) — China promises higher spending to reverse surging job losses, sets no economic growth target to focus on virus fight.