Latest Economic outlook News

Global stock markets rise after weak US hiring data

Sep. 06, 2021 05:28 AM EDT

BEIJING (AP) — Global stock markets and Wall Street futures rose Monday after weak U.S. hiring in August fueled expectations the Federal Reserve might postpone withdrawal of economic stimulus that has boosted stock prices. London and Frankfurt opened higher. Shanghai,...

Asian stock markets rise after weak US hiring data

Sep. 05, 2021 23:32 PM EDT

BEIJING (AP) — Asian stock markets rose Monday after weak U.S. hiring in August fueled expectations the Federal Reserve might postpone withdrawal of economic stimulus that has boosted stock prices. Shanghai, Tokyo and Hong Kong, which are the bulk of the region’s...

Millions to lose jobless aid as claims fall to pandemic low

Sep. 02, 2021 13:26 PM EDT

WASHINGTON (AP) — Millions of jobless Americans who have depended on federal unemployment aid as a financial lifeline are about to lose those benefits just as the delta variant of the coronavirus poses a renewed threat to the economy and the job market. Two programs —...

US projects $3.12T budget deficit for this year, down $555B

Aug. 27, 2021 18:06 PM EDT

WASHINGTON (AP) — The Biden administration is forecasting that this year's budget deficit will be $555 billion lower than it estimated back in May, helped by an economy that is rebounding more quickly than had been expected. But even with the improvement, the...

Powell: Fed on track to slow aid for economy later this year

Aug. 27, 2021 15:06 PM EDT

WASHINGTON (AP) — The Federal Reserve will start dialing back its ultra-low-rate policies this year as long as hiring continues to improve, Chair Jerome Powell said Friday, signaling the beginning of the end of the Fed’s extraordinary response to the pandemic recession. ...

US slightly upgrades GDP estimate for last quarter to 6.6%

Aug. 26, 2021 10:08 AM EDT

WASHINGTON (AP) — The U.S. economy grew at a robust 6.6% annual rate last quarter, slightly faster than previously estimated, the government said Thursday in a report that pointed to a sustained consumer-led rebound from the pandemic recession. But worries are growing that the delta variant...

Pop-up restaurants may stick around as COVID sees resurgence

Aug. 22, 2021 10:53 AM EDT

NEW YORK (AP) — Pop-up restaurants, many started as stopgap measures by struggling chefs and owners, may have staying power as consumers continue to embrace takeout and delivery and the delta variant threatens to make dining in less of an option. Pop-up restaurants can...

Asian markets lower amid China, Afghanistan unease

Aug. 16, 2021 23:59 PM EDT

BEIJING (AP) — Asian stock markets declined Tuesday amid concern about turmoil in Afghanistan and unease about China's economic outlook after weak July activity. Investors looked ahead to a speech by U.S. Federal Reserve chairman Jerome Powell for an update on the...

Asian shares mixed as virus fears temper market optimism

Aug. 09, 2021 22:59 PM EDT

TOKYO (AP) — Asian shares were mixed Tuesday as optimism about a gradual economic recovery from the coronavirus pandemic were tempered by worries over the variants spreading rapidly in some nations. Japan's benchmark Nikkei 225 added 0.5% in morning trading to...

NC officials: Gov't surplus became even larger than planned

Aug. 08, 2021 11:27 AM EDT

RALEIGH, N.C. (AP) — North Carolina's tax windfall for the last fiscal year turned out even larger than the bonanza that state government economists predicted would arrive due to the recovering economy. The state ended up collecting $29.7 billion in revenues during the...