Latest Economic growth News

Mexico's economy grew 1% in 1st quarter

May. 25, 2022 11:22 AM EDT

MEXICO CITY (AP) — Mexico’s economy grew 1% in the first three months of the year, accelerating somewhat after registering meager 0.2% growth in the previous quarter, according to seasonally adjusted data released by the government Wednesday. Compared to the first quarter of last...

Report says North Dakota's 2022 economic outlook is strong

May. 24, 2022 15:07 PM EDT

BISMARCK, N.D. (AP) — The latest economic outlook report for North Dakota is showing continued improvement for 2022, despite a national economy that shrank in the first quarter and is showing signs of entering a recession. The quarterly report by the University of North Dakota...

UN drops forecast for global economic growth in 2022 to 3.1%

May. 18, 2022 12:14 PM EDT

UNITED NATIONS (AP) — The United Nations on Wednesday significantly lowered its forecast for global economic growth this year from 4% to 3.1%, saying the war in Ukraine has triggered increasing global food and commodity prices and exacerbated inflationary pressures, upending the fragile recovery...

EU cuts forecast for economic growth as war's fallout widens

May. 16, 2022 09:53 AM EDT

BRUSSELS (AP) — The European Union has slashed its forecasts for economic growth in the 27-nation bloc amid the prospect of a drawn-out Russian war in Ukraine and disruptions to energy supplies. The EU’s gross domestic product will expand 2.7% this year and 2.3% in 2023, the...

UK economic growth slows, raising recession concerns

May. 12, 2022 04:51 AM EDT

LONDON (AP) — Britain’s economy grew at the slowest pace in a year during the first quarter as retailers and manufacturers were hurt by supply disruptions and higher prices, raising concerns that the country may be headed for a recession. Gross domestic product, the broadest...

China fights economic slump, sticks to costly 'zero COVID'

May. 12, 2022 00:54 AM EDT

BEIJING (AP) — China’s leaders are struggling to reverse an economic slump without giving up anti-virus tactics that shut down Shanghai and other cities, adding to challenges for President Xi Jinping as he tries to extend his time in power. The ruling Communist Party has declared...

New South Korea leader offers support if North denuclearizes

May. 10, 2022 06:47 AM EDT

SEOUL, South Korea (AP) — Yoon Suk Yeol, a conservative political neophyte, took office Tuesday as South Korea’s new president with a vow to pursue a negotiated settlement of North Korea’s threatening nuclear program and an offer of “an audacious plan” to improve its economy if it...

Asian stocks follow Wall St down on rate hike, economy fears

May. 09, 2022 23:55 PM EDT

BEIJING (AP) — Asian stocks followed Wall Street lower Tuesday as fears increased that U.S. rate hikes to fight inflation might stall economic growth. Market benchmarks in Tokyo, Hong Kong, Seoul and Sydney fell. Shanghai advanced. Oil prices fell more than $1 but stayed above $100...

EXPLAINER: Recession fears grow. But how high is the risk?

May. 09, 2022 13:13 PM EDT

WASHINGTON (AP) — Inflation is at a 40-year high. Stock prices are sinking. The Federal Reserve is making borrowing much costlier. And the economy actually shrank in the first three months of this year. Is the United States at risk of enduring another recession, just two years...

China trade weakens after cities shut down to fight virus

May. 09, 2022 02:11 AM EDT

BEIJING (AP) — China’s export growth tumbled in April as global demand weakened, adding to pressure on the world’s second-largest economy after Shanghai and other industrial cities were shut down to fight virus outbreaks. Exports rose 3.7% over a year earlier to $273.6 billion,...