Latest Economic growth News

Republicans point to inflation in bid to retake Congress

Jun. 18, 2021 10:43 AM EDT

WASHINGTON (AP) — Gas prices have whizzed past $3 per gallon in much of the nation. The cost of used cars and new furniture, airline tickets, department store blouses, ground beef and a Chipotle burrito are on the rise, too. Many economists say the price increases are...

Survey: strong growth continues in rural parts of 10 states

Jun. 17, 2021 11:11 AM EDT

OMAHA, Neb. (AP) — Strong growth continues across rural parts of 10 Plains and Western states and three states now have more jobs than they did before the coronavirus pandemic began, according to a monthly survey of bankers released Thursday. The overall Rural...

Latinas left workforce at highest rate, see slow recovery

Jun. 16, 2021 14:28 PM EDT

PHOENIX (AP) — Teresa Marez spent 14 years building a strong clientele base as a hair stylist in San Antonio. When her son, who is autistic, had to switch to virtual learning because of the pandemic, she quit her job to help him. It’s been 10 months, and the clients...

UK economy edges to pre-pandemic levels as lockdown eased

Jun. 11, 2021 06:36 AM EDT

LONDON (AP) — The easing of lockdown restrictions in April helped the British economy grow at its fastest rate since July 2020 and recoup further ground lost during the coronavirus pandemic, official figures showed Friday. The Office for National Statistics said the...

World Bank sees 5.6% global growth in 2021, best since 1973

Jun. 08, 2021 09:54 AM EDT

WASHINGTON (AP) — The World Bank is upgrading the outlook for global growth this year, predicting that COVID-19 vaccinations and massive government stimulus in rich countries will power the fastest worldwide expansion in nearly five decades. In its latest Global...

US economy: Plenty of growth, not enough workers or supplies

Jun. 07, 2021 16:18 PM EDT

WASHINGTON (AP) — The U.S. economy is sparking confusion and whiplash almost as fast as it’s adding jobs. Barely more than a year after the coronavirus caused the steepest economic fall and job losses on record, the speed of the rebound has been so unexpectedly swift...

Biden rebuffs GOP infrastructure offer, citing broader goals

Jun. 05, 2021 00:32 AM EDT

WASHINGTON (AP) — President Joe Biden has dismissed a fresh Republican infrastructure proposal that offered modestly more spending but fell short of “his objectives to grow the economy,” the White House said. His reaction Friday cast further doubt on the two...

Biden rebuffs GOP infrastructure offer, citing broader goals

Jun. 04, 2021 20:50 PM EDT

WASHINGTON (AP) — President Joe Biden on Friday dismissed a fresh Republican infrastructure proposal that offered modestly more spending but fell short of “his objectives to grow the economy,” the White House said. His reaction cast further doubt on the two...

US businesses struggle to fill jobs even as hiring picks up

Jun. 04, 2021 16:01 PM EDT

WASHINGTON (AP) — Hiring in the United States picked up in May yet was slowed again by the struggles of many companies to find enough workers to keep up with the economy's swift recovery from the pandemic recession. U.S. employers added 559,000 jobs last month, the...

US jobless claims drop to 385,000, another pandemic low

Jun. 03, 2021 09:19 AM EDT

WASHINGTON (AP) — The number of Americans seeking unemployment benefits fell last week for a fifth straight week to a new pandemic low, the latest evidence that the U.S. job market is regaining its health as the economy further reopens. The Labor Department reported...