Latest Economic outlook News
US retail sales rose a modest 0.3% in October
WASHINGTON (AP) — Americans stepped up their shopping last month, spending more online and buying more cars, evidence that consumers can still drive the economy’s growth. Still, the details of the report were weaker than expected, economists said, and several analysts reduced their forecasts for...
US long-term mortgage rates rise; 30-year at 3.75%
WASHINGTON (AP) — U.S. long-term mortgage rates rose this week amid optimism over prospects for the U.S. economy. Rates remain at historically low levels, however, as an incentive to prospective homebuyers. Mortgage giant Freddie Mac said Thursday the average rate for a 30-year fixed-rate mortgage jumped...
Global markets lower amid uncertainty about US-China trade
BEIJING (AP) — Global stock markets slipped Thursday amid doubts about a U.S.-Chinese trade deal and after the U.S. Federal Reserve chairman said it is likely to leave its benchmark interest rate unchanged. London and Frankfurt were trading lower after Tokyo and Hong Kong closed down for the day. Wall...
Japan’s economy slows, logging 0.2% annual expansion in 3Q
TOKYO (AP) — Japan’s economy grew at a modest annual pace of 0.2% in July-September, supported by consumer purchases ahead of a tax hike, the government said Thursday. It was the fourth straight quarter of expansion for the world’s third largest economy, but well below analysts’...
Asian markets mixed after Wall Street high
BEIJING (AP) — Asian stock markets were mixed Thursday amid doubts about the status of a U.S.-Chinese trade deal after the U.S. Federal Reserve’s chairman said it is likely to leave its benchmark interest rate unchanged. Investors were wary after The Wall Street Journal reported Chinese negotiators...
Fed’s Powell sees steady growth, signals pause in rate cuts
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Wednesday that the Fed is likely to keep its benchmark short-term interest rate unchanged in the coming months, unless the economy shows signs of worsening. But for now, in testimony before a congressional panel, Powell expressed optimism about...
The Latest: Powell sees job participation as major problem
WASHINGTON (AP) — The Latest on Federal Reserve Chairman Jerome Powell’s testimony before the Joint Economic Committee about the outlook for the U.S. economy (all times local): ___ 11:55 a.m. Federal Reserve Chairman Jerome Powell says two major long-term issues facing the U.S. economy are sluggish...
Asian stocks sink after Trump threatens more China tariffs
BEIJING (AP) — Asian stocks sank Wednesday after U.S. President Donald Trump threatened more tariff hikes on Chinese imports if talks aimed at ending a trade war fail to produce an interim agreement. Market benchmarks in Shanghai, Tokyo, Hong Kong and Southeast Asia all declined. Trump said Tuesday that...
Stocks mixed as uncertainty reigns in US-China trade talks
BANGKOK (AP) — Shares were mixed in Asia on Tuesday as investors awaited cues on trade talks between China and the U.S. The next hints on progress in the negotiations between Beijing and Washington could come later in the day, when Trump is scheduled to give a speech on trade and economic policy at the...
Kansas boosts tax collection forecast $510M over 2 years
TOPEKA, Kan. (AP) — Kansas officials on Thursday boosted the state's projections for tax collections by $510 million over two budget years, something certain to renew an already intense dispute between Democratic Gov. Laura Kelly and the Republican-controlled Legislature over cutting income taxes. The new,...
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