Latest Economic outlook News

Eurogroup seeks path between high inflation, slower growth

Jan. 17, 2022 15:01 PM EST

BRUSSELS (AP) — Euro finance chiefs on Monday ventured into a high-wire political balancing act prompted by conflicting economic forces: a weaker growth outlook and stronger inflation. Finance ministers from the 19 nations that share the euro currency pledged continued budgetary...

Insider Q&A: Realtors' group Chief Economist Lawrence Yun

Jan. 17, 2022 09:14 AM EST

LOS ANGELES (AP) — The U.S. housing market had another scorcher of a year in 2021, aided by low mortgage rates, a swell of demand that outstripped supply and a rebounding job market. The supply-demand equation remains sharply lopsided heading into the spring home-buying season,...

This Week: Housing starts, Netflix earns, leading indicators

Jan. 17, 2022 00:16 AM EST

A look at some of the key business events and economic indicators upcoming this week: HOUSING MARKET BELLWETHER New government data on residential construction should provide insight into the state of the new-home market. The Commerce Department is...

Fitch upgrades Greece's credit outlook to positive

Jan. 14, 2022 19:57 PM EST

ATHENS, Greece (AP) — Credit ratings company Fitch has revised Greece’s outlook to positive from stable, although it kept the country’s rating at BB, two notches below investment grade. In a report issued Friday, Fitch estimates that the Greek economy grew 8.3% in 2021, much...

Michigan revenues are $5.8B higher than previously forecast

Jan. 14, 2022 17:46 PM EST

LANSING, Mich. (AP) — Michigan's two main funds will take in billions more that previously forecast, economists said Friday, again delivering good news to Gov. Gretchen Whitmer and lawmakers before a budget cycle. The combined additional tax revenues over the last, current and next...

Brainard vows to help combat inflation as No. 2 Fed official

Jan. 12, 2022 19:58 PM EST

WASHINGTON (AP) — Lael Brainard pledged in written remarks Wednesday to help the Federal Reserve fight a spike in inflation while still supporting the economic recovery — a tricky balancing act she would face if confirmed as the Fed's No. 2 official. Brainard, a member of the...

US posted smallest monthly deficit in 2 years in December

Jan. 12, 2022 15:58 PM EST

WASHINGTON (AP) — The federal government last month posted its smallest monthly budget deficit in two years thanks to a rebounding economy that helped boost tax receipts, coupled with slower spending as some COVID relief programs ended. The Treasury Department reported Wednesday...

EXPLAINER: Why US inflation is so high, and when it may ease

Jan. 12, 2022 11:23 AM EST

WASHINGTON (AP) — At first, it didn’t even register as a threat. Then it seemed like a temporary annoyance. Now, inflation is flashing red for the Federal Reserve's policymakers — and delivering sticker shock to Americans at the used car lot, the supermarket, the gas station,...

Outbreaks, bottlenecks expected to slow global growth in '22

Jan. 11, 2022 10:49 AM EST

WASHINGTON (AP) — The World Bank is downgrading its outlook for the global economy, blaming continuing outbreaks of COVID-19, a reduction in government economic support and ongoing bottlenecks in global supply chains. The 189-country, anti-poverty agency forecasts worldwide...

Question for Fed: Has it waited too long to fight inflation?

Jan. 10, 2022 15:56 PM EST

WASHINGTON (AP) — With inflation surging, unemployment falling and wages rising, some economists are warning that the Federal Reserve may have waited too long to reverse its ultra-low-rate policies — a delay that could put the economy at heightened risk. On Wednesday, the...