Latest Gross domestic product News

German economy shrinks for the first time since early 2015

Nov. 14, 2018 10:08 AM EST

BERLIN (AP) — Germany's economy shrank slightly in the third quarter of 2018, the first quarterly decline since early 2015, due to declining exports and bottlenecks in getting new cars certified under tougher emissions tests. The Federal Statistical Office reported Wednesday that economic output fell by...

Italy's budget row with EU escalates ahead of deadline

Nov. 8, 2018 10:54 AM EST

MILAN (AP) — The Italian government insisted Thursday it is sticking with its plan to rapidly increase public spending as a dispute with the European Union over the budget intensified following a gloomy set of forecasts. In response to the EU's executive Commission's prediction that Italy will be the...

Economist: NKorea eying Swiss, Singaporean-style success

Oct. 28, 2018 10:19 PM EDT

PYONGYANG, North Korea (AP) — North Korea is exploring a grand plan to become a regional transportation hub, inspired in part by the successes of Singapore and Switzerland, and would be open to joining world financial institutions such as the International Monetary Fund if current member states give up...

US economy grew at strong 3.5 percent rate in Q3

Oct. 26, 2018 11:25 AM EDT

WASHINGTON (AP) — The U.S. economy grew at a robust annual rate of 3.5 percent in the July-September quarter as the strongest burst of consumer spending in nearly four years helped offset a sharp drag from trade. The Commerce Department said Friday that the third quarter's gross domestic product, the...

The Latest: EU voices concerns over Italy's budget deficit

Oct. 18, 2018 1:50 PM EDT

BRUSSELS (AP) — The Latest on Italy's plans to ramp up public spending (all times local): 7:45 p.m. The European Commission has chastised Italy for a spending plan that will raise its deficit to three times that which was previously agreed, calling the deviation "unprecedented in the history" of the EU's...

Italian government pleases markets with softer deficits

Oct. 3, 2018 3:23 PM EDT

MILAN (AP) — The Italian government on Wednesday softened budget deficit targets that have alarmed investors and eurozone partners, saying they would be gradually lowered after 2019. Economy Minister Giovanni Tria confirmed that the deficit to gross domestic product ratio next year would be higher than...

Italy digs in on spending, jolting markets and worrying EU

Oct. 2, 2018 9:04 AM EDT

MILAN (AP) — Italy's leaders refused to budge from new spending plans that have been spooking investors, pushing the eurozone's third-largest economy on a collision course with its EU partners. Deputy Prime Minister Luigi Di Maio said Tuesday that the government "will not back up one millimeter" from...

US economy grew at robust 4.2 percent rate in Q2

Sep. 27, 2018 2:11 PM EDT

WASHINGTON (AP) — The U.S. economy grew at a robust annual rate of 4.2 percent in the second quarter, the best performance in nearly four years, though economists believe growth has slowed in the current quarter partly because of a drag from trade. The performance of the gross domestic product, the...