Latest Gross domestic product News

Report: Hurricane Dorian inflicted $3.4B losses on Bahamas

Nov. 15, 2019 5:14 PM EST

SAN JUAN, Puerto Rico (AP) — Hurricane Dorian inflicted losses of about $3.4 billion on the Bahamas, an amount equal to one-quarter of the Caribbean archipelago’s GDP, according to a report released Friday. The report by the Inter-American Development Bank also said there were 67 confirmed deaths...

Germany's Merkel: 2% of GDP on defense by 2031 'realistic'

Nov. 7, 2019 11:20 AM EST

BERLIN (AP) — Germany's defense minister is calling for the country to spend 2% of gross domestic product on defense by 2031, a target Chancellor Angela Merkel called "realistic but ambitious." NATO members in 2014 agreed to "aim to move toward" increasing defense spending to 2% of GDP by 2024. The U.S....

US economy grows at modest 1.9% rate in third quarter

Oct. 30, 2019 4:43 PM EDT

WASHINGTON (AP) — The U.S. economy slowed to a modest growth rate of 1.9% in the summer as consumer spending downshifted and businesses continued to trim their investments in response to trade war uncertainty and a weakening global economy. The Commerce Department reported Wednesday that the July-September...

US economy grew at modest 2% rate in second quarter

Sep. 26, 2019 9:32 AM EDT

WASHINGTON (AP) — The U.S. economy grew at a modest 2% annual rate in the second quarter, a pace sharply lower than the 3%-plus growth rates seen over the past year. Many analysts believe growth will slow further in coming quarters as global weakness and rising trade tensions exert a toll. The April-June...