Latest Economy News

China's foreign minister meets New Zealand counterpart, beginning trip that also includes Australia

Mar. 18, 2024 07:40 AM EDT

WELLINGTON, New Zealand (AP) — Chinese Foreign Minister Wang Yi said Monday that his country is ready to work with New Zealand to deepen trade and economic ties and address climate change. Wang met his New Zealand counterpart, Winston Peters, at the start of a tour that will also...

Stock market today: Asian stocks gain ahead of US and Japan rate decisions

Mar. 18, 2024 00:57 AM EDT

HONG KONG (AP) — Asian stocks advanced Monday ahead of policy decisions this week by Japan’s central bank and the Federal Reserve. Oil prices and U.S. futures rose. Chinese data for January-February were mixed, with property investment falling while other...

China's economy shows signs of improvement, but its property sector is still in the doldrums

Mar. 18, 2024 02:03 AM EDT

HONG KONG (AP) — China's manufacturing and investment improved in the first two months of the year, while weakness in the property sector weighed on the economy, the National Bureau of Statistics said Monday. The report said industrial output rose 7% from a year earlier in...

Why are so many voters frustrated by the US economy? It's home prices

Mar. 15, 2024 11:30 AM EDT

WASHINGTON (AP) — Lori Shelton can't fathom ever having the money to buy a home — and that's a major reason why so many voters feel down on the economy ahead of this year's presidential election. Shelton, 67, drives an Uber to help pay rent in Aurora, Colorado. An advance on her...

US consumer sentiment ticks down slightly, but most expect inflation to ease further

Mar. 15, 2024 11:02 AM EDT

WASHINGTON (AP) — Consumers became slightly less optimistic about the economy this month, though they continue to expect inflation to cool further, a potential sign that price increases will keep slowing. The University of Michigan’s consumer sentiment index, released Friday in...

Stock market today: Asian markets retreat after data dash hopes that a US rate cut is imminent

Mar. 15, 2024 00:19 AM EDT

BEIJING (AP) — Asian markets retreated Friday, with Hong Kong’s benchmark falling 2%, after a mixed batch of data on the U.S. economy dashed hopes that easier interest rates are coming soon. Oil prices and U.S. futures fell. Tokyo's Nikkei 225 edged 0.1% lower to...

February retail sales up 0.6%, yet fissures emerge in what has been a driving force for US economy

Mar. 14, 2024 17:26 PM EDT

NEW YORK (AP) — Americans picked up their spending a bit in February after pulling back the previous month. But last month’s gain was weaker than expected, and January’s decline was revised even lower, suggesting that many are growing more cautious with their money. Retail...

Elderly retirees face big losses after Chinese trust goes bust, reflecting turbulent economy

Mar. 13, 2024 01:27 AM EDT

CHENGDU, China (AP) — Some investors in a troubled trust fund in China are facing financial ruin under a government plan to return a fraction of their money, casualties of a slump in the property industry and a broader economic slowdown. Sichuan Trust, headquartered in the...

As Putin orchestrates his reelection, a resilient Russian economy is a key selling point

Mar. 12, 2024 01:33 AM EDT

MOSCOW (AP) — Russians are finding a few imported staples, like fruit, coffee and olive oil, have shot way up in price. Most global brands have disappeared — or been reincarnated as Russian equivalents under new, Kremlin-friendly ownership. A lot more Chinese cars are zipping around the...

Japan's economy avoids recession by growing in last year's final quarter, according to revised data

Mar. 11, 2024 22:24 PM EDT

TOKYO (AP) — Japan's economy managed to grow in the fourth quarter of last year, averting a recession, according to revised government data released Monday that had previously shown a contraction. Real gross domestic product, or GDP, grew in October-December at an annual pace of...