Latest Gross domestic product News

Biden open to compromise on infrastructure, but not inaction

Apr. 07, 2021 21:52 PM EDT

President Joe Biden drew a red line on his $2.3 trillion infrastructure plan Wednesday, saying he is open to compromise on how to pay for the package but inaction is unacceptable. The president turned fiery in an afternoon speech, saying that the United States is failing...

Russian entrepreneurs adapt to virus lockdown challenges

Apr. 02, 2021 03:40 AM EDT

MOSCOW (AP) — Valentina Konstantinova remembers well when Russia locked down for the coronavirus a year ago. Her 18-room boutique hotel, called Skazka, or “Fairytale,” was full, and within a couple of days, it had only one guest left. “I still don’t understand...

Government revises 4th quarter GDP up slightly to 4.3%

Mar. 25, 2021 09:55 AM EDT

WASHINGTON (AP) — The U.S. economy grew at an annual rate of 4.3% in the final three months of 2020, slightly faster than previously estimated, as recovery expectations for 2021 rise along with vaccinations and the provision of nearly $2 trillion in additional government support. ...

By the numbers: UK's virus year saw a raft of stark figures

Mar. 23, 2021 10:22 AM EDT

LONDON (AP) — For Britain, it has been a year of agonizing numbers. Since Prime Minister Boris Johnson plunged the country into lockdown on March 23, 2020, to slow the spread of the coronavirus, the U.K. has seen its highest surge in deaths since World War II and its...

Editorial Roundup: Mississippi

Mar. 10, 2021 07:13 AM EST

Recent editorials from Mississippi newspapers: ___ March 10 The Greenwood Commonwealth on a bill that would eliminate the individual income tax: Hold on a second. The Mississippi House on Feb. 23 passed a...

UN finds soaring poverty in virus-hit Latin America region

Mar. 04, 2021 16:11 PM EST

SANTIAGO, Chile (AP) — More than 20 million people were pushed into poverty during pandemic-plagued 2020 across Latin America and the Caribbean, the U.N. economic agency for the region reported Thursday. Poverty as a whole rose to afflict a total of 208 million people...

CBO expects federal debt to double over next 30 years

Mar. 04, 2021 15:53 PM EST

The Congressional Budget Office estimated Thursday that persistent budget deficits will cause the federal debt to double in size over the next 30 years. Following the 2008 financial crisis and the pandemic, the government has depended heavily on borrowing and low interest...

Anticipating 2021 boom, Q4 GDP revised up slightly to 4.1%

Feb. 25, 2021 12:21 PM EST

WASHINGTON (AP) — The economy grew at a 4.1% pace in the final three months of 2020, slightly faster than first estimated, ending a year in which the overall economy, ravaged by a global pandemic, shrank more than in any year in the past seven decades. The influx of new...

German economy grew 0.3% in 4th quarter, better than thought

Feb. 24, 2021 07:14 AM EST

BERLIN (AP) — The German economy grew 0.3% in last year's fourth quarter compared with the previous three-month period, official data showed Wednesday — a better performance than first thought. The Federal Statistical Office had reported in late January that gross...