Latest Economic growth News

Asian shares lower as strong data hit hopes for dovish Fed

Dec. 05, 2022 23:18 PM EST

BANGKOK (AP) — Stocks were mostly lower in Asia on Tuesday after Wall Street pulled back as surprisingly strong economic reports highlighted the difficulty of the Federal Reserve’s fight against inflation. Tokyo rose while other regional markets declined. U.S. futures gained and...

Rail strike averted: Biden signs bill enforcing agreement

Dec. 02, 2022 11:24 AM EST

WASHINGTON (AP) — President Joe Biden signed a bill Friday to avert a freight rail strike that he said could have plunged the U.S. into a catastrophic recession. At the White House, Biden signed a measure passed Thursday by the Senate and Wednesday by the House. It binds rail...

US hiring stays strong, complicating Fed's inflation fight

Dec. 02, 2022 13:04 PM EST

WASHINGTON (AP) — The nation’s employers kept hiring briskly in November despite high inflation and a slow-growing economy — a sign of resilience in the face of the Federal Reserve’s aggressive interest rate hikes. The economy added 263,000 jobs, while the unemployment rate...

The AP Interview: IMF head urges China to end mass lockdowns

Nov. 30, 2022 10:51 AM EST

BERLIN (AP) — It is time for China to move away from massive lockdowns and toward a more targeted approach to COVID-19, the head of the International Monetary Fund said days after widespread protests broke out, a change that would ease the impact to a world economy already struggling with high...

US revises up last quarter's economic growth to 2.9% rate

Nov. 30, 2022 09:24 AM EST

WASHINGTON (AP) — Despite high interest rates and chronic inflation, the U.S. economy grew at a 2.9% annual rate from July through September, the government said Wednesday in a healthy upgrade from its initial estimate. Last quarter's rise in the U.S. gross domestic product — the...

German economy sees stronger growth in 3rd quarter

Nov. 25, 2022 04:08 AM EST

BERLIN (AP) — Germany's economy saw stronger growth in the third quarter than expected as consumer spending picked up following the lifting of pandemic restrictions. Officials figures released Friday show gross domestic product in Europe's biggest economy grew by 0.4% from July to...

EU-Med forum: South needs investment, immigration policies

Nov. 24, 2022 09:54 AM EST

MADRID (AP) — More investment and polices regulating immigration are needed for countries on the southern Mediterranean basin that have been hit hard by the food and energy crisis brought on by Russia's war in Ukraine, the European Union's foreign policy chief said Thursday. ...

Nigeria hopes new currency notes curb inflation, corruption

Nov. 24, 2022 05:02 AM EST

ABUJA, Nigeria (AP) — Nigeria on Wednesday launched newly designed currency notes, a move that the West African nation's central bank says will help curb inflation and money laundering. The newly designed denominations of 200 (45 U.S. cents), 500 ($1.10) and 1,000 naira ($2.20)...

OECD forecast: High rates, inflation to slow world growth

Nov. 22, 2022 17:18 PM EST

Hobbled by high interest rates, punishing inflation and Russia’s war against Ukraine, the world economy is expected to eke out only modest growth this year and to expand even more tepidly in 2023. That was the sobering forecast issued Tuesday by the Paris-based Organization for...

Greek economic growth seen lower in 2023 amid energy woes

Nov. 21, 2022 09:43 AM EST

ATHENS, Greece (AP) — Greece’s economy is projected to grow by 1.8% next year, according to the country’s 2023 budget, slightly lower than the figures predicted last month as higher energy costs and inflation take a toll. The final 2023 budget submitted to parliament on Monday...