Latest Economy News

Japan's exports surged nearly 12% in January in 2nd straight month of gains

Feb. 21, 2024 03:01 AM EST

TOKYO (AP) — Japan's exports surged a stronger than expected nearly 12% in January, helped by robust demand for vehicles, auto parts and machinery. That helped the nation’s trade deficit shrink to 1.76 trillion yen ($12 billion), or about half of what it was a year earlier. ...

Stock market today: Wall Street falls to a rare losing week but remains close to its record

Feb. 16, 2024 17:16 PM EST

NEW YORK (AP) — Stocks slipped Friday to send Wall Street to a rare losing week, just its second in the last 16. The S&P 500 fell 0.5% from its all-time high set a day earlier. The Dow Jones Industrial Average dropped 145 points, or 0.4%, and the Nasdaq composite sank 0.8%. ...

Consumer sentiment edges higher as economic growth accelerates and inflation fades

Feb. 16, 2024 13:02 PM EST

WASHINGTON (AP) — A measure of consumer sentiment ticked higher this month, after soaring in December and January, underscoring that Americans are starting to feel better about the economy after several years of gloom. The University of Michigan's consumer sentiment index,...

Stock market today: Asian shares track Wall Street rally as Japan's Nikkei nears a record high

Feb. 16, 2024 00:23 AM EST

BANGKOK (AP) — Shares advanced in Asia on Friday, with Tokyo's benchmark Nikkei 225 index trading near a record high, 34 years after it peaked and then plunged with the collapse of Japan's financial bubble. U.S. futures were lower after stocks on Wall Street set another record...

Japan slips into a recession and loses its spot as the world's third-largest economy

Feb. 15, 2024 16:08 PM EST

TOKYO (AP) — Japan’s economy is now the world’s fourth-largest after it contracted in the last quarter of 2023 and fell behind Germany. The government reported the economy shrank at an annual rate of 0.4% in October to December, according to Cabinet Office data on real GDP...

UK fell into recession at the end of 2023 as economy takes center stage in runup to general election

Feb. 15, 2024 16:07 PM EST

LONDON (AP) — The British economy fell into recession at the end of 2023 for the first time since the onset of the coronavirus pandemic, as output shrank more than anticipated in the final three months of the year, official figures showed Thursday. In what is a blow for the...

Recession has struck some of the world's top economies. The US keeps defying expectations

Feb. 15, 2024 15:27 PM EST

NEW YORK (AP) — As some of the world’s biggest economies stumble into recession, the United States keeps chugging along. Both Japan and the United Kingdom said Thursday their economies likely weakened during the final three months of 2023. For each, it would be the second...

Average long-term US mortgage rate rose this week to 6.77%, highest level in 10 weeks

Feb. 15, 2024 14:02 PM EST

LOS ANGELES (AP) — The average long-term U.S. mortgage rate rose this week to its highest level in 10 weeks, a setback for prospective homebuyers ahead of the spring homebuying season. The average rate on a 30-year mortgage rose to 6.77% from 6.64% last week, mortgage buyer Freddie...

Shoppers helped keep the economy out of a recession. Now investors hope for even more

Feb. 15, 2024 08:03 AM EST

NEW YORK (AP) — How much spending power do U.S. shoppers have left? That's the key question as big U.S. retailers get set to report their latest quarterly results. Even when inflation was high, interest rates were shooting upward and worries were rising that a recession seemed...

Stock market today: Asian shares track Wall Street's rebound

Feb. 14, 2024 22:45 PM EST

BANGKOK (AP) — Shares rose in Asia on Thursday after Wall Street stocks recovered much of their sharp losses from a day before. Oil prices declined. Benchmarks rose in most major markets apart from Seoul, while mainland Chinese markets remained closed for the Lunar...