Latest Economic growth News

Russian GDP drops 4% in Q2 -- 1st full quarter of fighting

Aug. 12, 2022 18:57 PM EDT

MOSCOW (AP) — Russia’s gross domestic product contracted 4% in the second quarter of this year, the first full quarter since Russia sent troops into Ukraine, the state statistical service said Friday. Russia was hit with a wide array of sanctions following its move into Ukraine...

UK economy shrinks in 2nd quarter, sharpening recession fear

Aug. 12, 2022 05:09 AM EDT

LONDON (AP) — The United Kingdom's economy shrank in the three months to June, figures released Friday showed — a smaller-than-expected contraction that nevertheless added to jitters about the rocky months ahead. The Office for National Statistics said Britain’s gross domestic...

At 75, India seeks way forward in big but job-scarce economy

Aug. 11, 2022 02:13 AM EDT

NEW DELHI (AP) — As India’s economy grew, the hum of factories turned the sleepy, dusty village of Manesar into a booming industrial hub, cranking out everything from cars and sinks to smartphones and tablets. But jobs have run scarce over the years, prompting more and more workers to line up...

EXPLAINER: How do we know when a recession has begun?

Aug. 05, 2022 14:54 PM EDT

WASHINGTON (AP) — Whether the U.S. economy is heading for a recession got more difficult to answer Friday, when a report showed employers hired hundreds of thousands more workers last month than expected. The stunning strength made clear that a linchpin of the economy remains...

Pacific rim economies in doldrums, sapped by inflation, war

Aug. 05, 2022 06:32 AM EDT

BANGKOK (AP) — Economies in the Asia-Pacific are forecast to hit the doldrums this year as decades-high inflation and the war in Ukraine compound geopolitical uncertainties and the aftereffects of the pandemic. A report on Pacific Rim economies by the Asia Pacific Economic...

India raises interest rate to 5.4%, in 3rd hike since May

Aug. 05, 2022 05:26 AM EDT

NEW DELHI (AP) — India’s central bank on Friday raised its key interest rate by 50 basis points to 5.4% in its third such hike since May as it focuses on containing inflation. Reserve Bank of India Governor Shaktikanta Das projected inflation at 6.7% in this financial year. June...

Asian stock markets rise ahead of US jobs data

Aug. 04, 2022 23:50 PM EDT

BEIJING (AP) — Asian stock markets rose Friday ahead of an update on the health of the U.S. jobs market while the Federal Reserve weighs whether more rate hikes are needed to cool surging inflation. U.S. futures and oil prices edged higher. Investors were looking...

Chinese factory activity sinks, weighing on weak economy

Jul. 31, 2022 00:58 AM EDT

BEIJING (AP) — Chinese manufacturing’s recovery from anti-virus shutdowns faltered in July as activity sank, a survey showed Sunday, adding to pressure on the struggling economy in a politically sensitive year when President Xi Jinping is expected to try to extend his time in power. ...

Tourism finally surpasses 2019 levels in Mexico

Jul. 29, 2022 23:36 PM EDT

MEXICO CITY (AP) — International tourism in Mexico has finally surpassed pre-pandemic levels, after 10.26 million visitors came to the country in the first half of 2022, Mexico’s Tourism Department reported Friday. International arrivals from January to June 2022 were up 1.5%...

Mexico's economy grows by 1% in 2nd quarter

Jul. 29, 2022 13:47 PM EDT

MEXICO CITY (AP) — Mexico’s economy grew by 1% in the second quarter, Mexico’s national statistics agency said Friday. Economic growth for the first half of 2022 now amounts to 1.9%,after an expansion of 0.9% in the first three months of the year. The economy...