Latest Economic outlook News

China raises estimate of economy’s size following census

Nov. 22, 2019 12:44 AM EST

BEIJING (AP) — China’s economy was 2.1% bigger than earlier estimated, the government said Friday, revising the gross domestic product for 2018 to 91.93 trillion yuan ($13.1 trillion) based on results of a census. The National Bureau of Statistics said Friday the revision reflects more complete...

Holiday spending set to rise in Ohio, economists predict

Nov. 21, 2019 4:16 PM EST

COLUMBUS, Ohio (AP) — This holiday shopping season in Ohio is expected to be stronger than last year's, economic forecasters said Thursday. Ohio shoppers are set to spend 0.8% more, making the total state sales for the 2019 holiday season more than $25.3 billion. The annual forecast was released ahead of...

US retail sales rose a modest 0.3% in October

Nov. 15, 2019 11:05 AM EST

WASHINGTON (AP) — Americans stepped up their shopping last month, spending more online and buying more cars, evidence that consumers can still drive the economy’s growth. Still, the details of the report were weaker than expected, economists said, and several analysts reduced their forecasts for...

Editorials from around New England

Nov. 15, 2019 9:18 AM EST

Editorials from around New England CONNECTICUT The Sandy Hook lawsuit is about to expose how the AR-15 is marketed to Americans. That’s good news for all of us. Hartford Courant Nov. 13 The people who sell the weapon of choice for mass killers are going to have to reveal exactly how they peddle their...

US long-term mortgage rates rise; 30-year at 3.75%

Nov. 14, 2019 1:38 PM EST

WASHINGTON (AP) — U.S. long-term mortgage rates rose this week amid optimism over prospects for the U.S. economy. Rates remain at historically low levels, however, as an incentive to prospective homebuyers. Mortgage giant Freddie Mac said Thursday the average rate for a 30-year fixed-rate mortgage jumped...

Global markets lower amid uncertainty about US-China trade

Nov. 14, 2019 7:58 AM EST

BEIJING (AP) — Global stock markets slipped Thursday amid doubts about a U.S.-Chinese trade deal and after the U.S. Federal Reserve chairman said it is likely to leave its benchmark interest rate unchanged. London and Frankfurt were trading lower after Tokyo and Hong Kong closed down for the day. Wall...

Japan’s economy slows, logging 0.2% annual expansion in 3Q

Nov. 13, 2019 11:44 PM EST

TOKYO (AP) — Japan’s economy grew at a modest annual pace of 0.2% in July-September, supported by consumer purchases ahead of a tax hike, the government said Thursday. It was the fourth straight quarter of expansion for the world’s third largest economy, but well below analysts’...

Asian markets mixed after Wall Street high

Nov. 13, 2019 11:20 PM EST

BEIJING (AP) — Asian stock markets were mixed Thursday amid doubts about the status of a U.S.-Chinese trade deal after the U.S. Federal Reserve’s chairman said it is likely to leave its benchmark interest rate unchanged. Investors were wary after The Wall Street Journal reported Chinese negotiators...

Fed’s Powell sees steady growth, signals pause in rate cuts

Nov. 13, 2019 4:27 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Wednesday that the Fed is likely to keep its benchmark short-term interest rate unchanged in the coming months, unless the economy shows signs of worsening. But for now, in testimony before a congressional panel, Powell expressed optimism about...

The Latest: Powell sees job participation as major problem

Nov. 13, 2019 12:09 PM EST

WASHINGTON (AP) — The Latest on Federal Reserve Chairman Jerome Powell’s testimony before the Joint Economic Committee about the outlook for the U.S. economy (all times local): ___ 11:55 a.m. Federal Reserve Chairman Jerome Powell says two major long-term issues facing the U.S. economy are sluggish...