Latest Economic growth News
EXPLAINER: How do we know when a recession has begun?
WASHINGTON (AP) — Whether the U.S. economy is heading for a recession got more difficult to answer Friday, when a report showed employers hired hundreds of thousands more workers last month than expected. The stunning strength made clear that a linchpin of the economy remains...
Pacific rim economies in doldrums, sapped by inflation, war
BANGKOK (AP) — Economies in the Asia-Pacific are forecast to hit the doldrums this year as decades-high inflation and the war in Ukraine compound geopolitical uncertainties and the aftereffects of the pandemic. A report on Pacific Rim economies by the Asia Pacific Economic...
India raises interest rate to 5.4%, in 3rd hike since May
NEW DELHI (AP) — India’s central bank on Friday raised its key interest rate by 50 basis points to 5.4% in its third such hike since May as it focuses on containing inflation. Reserve Bank of India Governor Shaktikanta Das projected inflation at 6.7% in this financial year. June...
Asian stock markets rise ahead of US jobs data
BEIJING (AP) — Asian stock markets rose Friday ahead of an update on the health of the U.S. jobs market while the Federal Reserve weighs whether more rate hikes are needed to cool surging inflation. U.S. futures and oil prices edged higher. Investors were looking...
Chinese factory activity sinks, weighing on weak economy
BEIJING (AP) — Chinese manufacturing’s recovery from anti-virus shutdowns faltered in July as activity sank, a survey showed Sunday, adding to pressure on the struggling economy in a politically sensitive year when President Xi Jinping is expected to try to extend his time in power. ...
Tourism finally surpasses 2019 levels in Mexico
MEXICO CITY (AP) — International tourism in Mexico has finally surpassed pre-pandemic levels, after 10.26 million visitors came to the country in the first half of 2022, Mexico’s Tourism Department reported Friday. International arrivals from January to June 2022 were up 1.5%...
Mexico's economy grows by 1% in 2nd quarter
MEXICO CITY (AP) — Mexico’s economy grew by 1% in the second quarter, Mexico’s national statistics agency said Friday. Economic growth for the first half of 2022 now amounts to 1.9%,after an expansion of 0.9% in the first three months of the year. The economy...
Inflation hits record 8.9% in euro area, but economy grows
LONDON (AP) — Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices fueled by Russia's war in Ukraine, but the economy managed better-than-expected, if meager, growth in the second quarter. Annual inflation in...
China backs away from growth goal, sticks to virus controls
BEIJING (AP) — China’s leaders effectively acknowledged the struggling economy won’t hit its official 5.5% growth target this year and said Thursday they will try to prop up sagging consumer demand but will stick to strict anti-COVID-19 tactics that disrupted manufacturing and trade. ...
Asian shares mostly higher after rally on Wall Street
TOKYO (AP) — Asian shares were mostly higher on Friday following a broad rally on Wall Street, but Hong Kong’s benchmark sank more than 2%. Investors appear to have grown more convinced that the Federal Reserve may temper its aggressive interest rate hikes aimed at taming...
