Latest Economic outlook News

FILE - In this July 9, 2020, file photo, a large video display reads

US hiring slows amid signs of longer-lasting economic damage

Aug. 7, 2020 9:28 PM EDT

WASHINGTON (AP) — U.S. hiring slowed in July as the coronavirus outbreak worsened, and the government’s jobs report offered signs Friday that the economic damage from the pandemic could last far longer than many observers originally envisioned. The United States added 1.8 million jobs in July, a...

Pellegrinis Cafe and The Paperback book store are closed during lockdown due to the continuing spread of the coronavirus in Melbourne, Thursday, Aug. 6, 2020. Victoria state, Australia's coronavirus hot spot, announced on Monday that businesses will be closed and scaled down in a bid to curb the spread of the virus. (AP Photo/Andy Brownbill)

New lockdown ratchets up economic pain in Australian city

Aug. 7, 2020 12:58 AM EDT

MELBOURNE, Australia (AP) — A bright side for plant nurseries of Melbourne’s first pandemic stay-at-home order was that many householders took the time to garden. But the latest lockdown in Australia’s second-largest city is far tougher. More than 250,000 people were thrown out of work on...

FILE - In this July 16, 2019, file photo, Thailand's Prime Minister Prayuth Chan-ocha attends a group photo with his cabinet members at the government house in Bangkok. On Thursday, Aug. 6, 2020, Prayuth reshuffled his Cabinet, with an experienced banker taking over the post of finance minister.  (AP Photo/Sakchai Lalit, File)

Cabinet reshuffle in Thailand installs new economic team

Aug. 6, 2020 7:52 AM EDT

BANGKOK (AP) — Thai Prime Minister Prayuth Chan-ocha has reshuffled his Cabinet, with an experienced banker taking over the post of finance minister. The names of seven people appointed to eight Cabinet positions were published Thursday in the Royal Gazette, making them official. Four appointments fill...

FILE - In this Wednesday, March 11, 2020 file photo, pedestrians wearing face masks pass the Bank of England in London. The Bank of England left its benchmark interest rate at a record low of 0.1% on Thursday Aug. 6, 2020, as it expressed caution about how rapidly the United Kingdom's economy will recover from the COVID-19 pandemic. (AP Photo/Matt Dunham, File)

Bank of England says economy will take time to heal

Aug. 6, 2020 6:43 AM EDT

LONDON (AP) — The Bank of England predicted Thursday that the economic downturn in the U.K. economy might be less severe than it thought at the start of the COVID-19 pandemic - even as it warned it would take a longer time to heal the scars. The central bank opened the door to providing more monetary...

FILE - People wait to speak with representatives from the Oklahoma Employment Security Commission about unemployment claims Thursday, July 9, 2020, in Midwest City, Okla. Stark evidence of the damage the resurgent viral outbreak has caused the U.S. economy could come Friday, Aug. 7,  when the government is expected to report that the pace of hiring has slowed significantly after a brief rebound in the spring. (AP Photo/Sue Ogrocki)

Gone for good? Evidence signals many jobs aren't coming back

Aug. 5, 2020 1:42 PM EDT

WASHINGTON (AP) — Stark evidence of the damage the resurgent viral outbreak has caused the U.S. economy could come Friday when the government is expected to report that the pace of hiring has slowed significantly after a brief rebound in the spring. As the coronavirus continues to transform a vast swath of...

A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Wednesday, Aug. 5, 2020. Major Asian stock markets declined Wednesday amid investor concern about U.S. stimulus spending and a trade agreement with Beijing. (AP Photo/Vincent Yu)

Asian shares fall on jitters over US stimulus, China trade

Aug. 4, 2020 11:43 PM EDT

BEIJING (AP) — Major Asian stock markets declined Wednesday amid investor concern about U.S. stimulus spending and a trade agreement with Beijing. Market benchmarks in Shanghai, Tokyo, Hong Kong and Sydney declined. Investors are watching the stalemate among U.S. legislators over employment benefits for...

ADB to lend Thailand $1.5 billion to aid virus response

Aug. 4, 2020 7:10 AM EDT

BANGKOK (AP) — The Asian Development Bank announced Tuesday it will provide a $1.5 billion loan to Thailand to aid its response to the coronavirus pandemic. Thailand’s Cabinet approved the borrowing plan at its weekly meeting, deputy government spokeswoman Ratchada Thanadirek announced separately....

A man lifts his arm as he walks by the New York Stock Exchange, Thursday, July 30, 2020. Stocks are falling on Wall Street Thursday after reports showed that layoffs are continuing at a stubborn pace and that the U.S. economy contracted at a nearly 33% annual rate in the spring. (AP Photo/Mark Lennihan)

Asian benchmarks tumble, looking to earnings, central banks

Jul. 31, 2020 12:16 AM EDT

TOKYO (AP) — Asian shares tumbled Friday as reports showed layoffs of American workers are persisting at high levels after the U.S. economy contracted at a nearly 33% annual pace in the spring, the worst quarter on record. Earnings reports, a gauge of how well businesses are managing the fallout from the...

A shopper passes a display window with mask covered mannequins at a dress store, Thursday, July 30, 2020, in McAllen, Texas. (AP Photo/Eric Gay)

Record economic plunge, bleak jobs numbers reveal virus toll

Jul. 30, 2020 5:37 PM EDT

WASHINGTON (AP) — The coronavirus pandemic sent the U.S. economy plunging by a record-shattering 32.9% annual rate last quarter and is still inflicting damage across the country, squeezing already struggling businesses and forcing a wave of layoffs that shows no sign of abating. The economy's collapse in...

Currency trader watch computer monitors near the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, Thursday, July 30, 2020. Asian stocks advanced Thursday after the U.S. Federal Reserve left interest rates near zero to support a struggling economy. (AP Photo/Lee Jin-man)

Asian stocks gain after Fed keep US interest rates low

Jul. 29, 2020 11:49 PM EDT

BEIJING (AP) — Asian stocks advanced Thursday after the U.S. Federal Reserve left interest rates near zero to support a struggling economy. Benchmarks in Shanghai, Tokyo, Hong Kong and Seoul all gained. Lower interest rates and investor optimism about a possible coronavirus vaccine have helped global...