Latest Economic growth News

Beware of budget gimmicks in push for massive spending deals

Jul. 24, 2021 08:42 AM EDT

WASHINGTON (AP) — Senators fashioning a pair of colossal bills that would deliver more than $4 trillion for infrastructure, health care, environment and other initiatives insist they will fully pay for both plans. Will they? In a Washington ritual...

Wall Street rallies to record-breaking end of turbulent week

Jul. 23, 2021 16:38 PM EDT

NEW YORK (AP) — Stocks rallied to records on Wall Street Friday, and the Dow Jones Industrial Average closed above the 35,000 level for the first time, as the market continued to roar back from its short-lived swoon at the start of the week. The S&P 500 index...

Bad Breadth: Whiff of danger as market gains lack scope

Jul. 22, 2021 10:46 AM EDT

NEW YORK (AP) — Even before Monday’s swoon — the worst day for stocks on Wall Street in a couple months — the market was flashing concerning signals. Chief among them were sharp moves in the bond market that indicated worsening expectations for economic growth and...

Biden wants spending to boost economy, but GOP to block vote

Jul. 19, 2021 19:37 PM EDT

WASHINGTON (AP) — President Joe Biden said Monday that his infrastructure and families agenda must be passed to sustain the economic momentum of his first six months in office, aiming to set the tone for a crucial week of congressional negotiations on the two bills. But...

Stocks slump, bond yields drop on worries another surge in virus cases will sap economic growth; Dow sinks 2%

Jul. 19, 2021 16:09 PM EDT
NEW YORK (AP) — Stocks slump, bond yields drop on worries another surge in virus cases will sap economic growth; Dow sinks 2%.

Child tax credit starts hitting US families' bank accounts

Jul. 16, 2021 15:33 PM EDT

WASHINGTON (AP) — The child tax credit had always been an empty gesture to millions of parents like Tamika Daniel. That changed Thursday when the first payment of $1,000 hit Daniel’s bank account — and dollars started flowing to the pockets of more than 35 million...

As stock prices peak, markets begin to fear looming threats

Jul. 16, 2021 11:43 AM EDT

NEW YORK (AP) — With the U.S. economy humming, corporate profits flowing and stock prices peaking, investors on Wall Street are beginning to pose an anxious question: Is it all downhill from here? Financial markets are always trying to set prices now for where the...

Pacific Rim leaders discuss economic way out of pandemic

Jul. 16, 2021 00:27 AM EDT

CANBERRA, Australia (AP) — U.S. President Joe Biden, his Chinese counterpart Xi Jinping, Japanese Prime Minister Yoshihide Suga and Russian President Vladimir Putin are among Pacific Rim leaders gathering virtually to discuss strategies to help economies rebound from a resurgent COVID-19...

Survey shows: Growth continues in rural parts of 10 states

Jul. 15, 2021 13:17 PM EDT

OMAHA, Neb. (AP) — Rural parts of 10 Plains and Western states are seeing continued economic growth in the region, according to a new monthly survey of bankers in the region, even as nonfarm jobs in most of those states remained below pre-pandemic levels. The overall...

China's economic growth slows to still-robust 7.9%

Jul. 15, 2021 01:19 AM EDT

BEIJING (AP) — China’s economic growth slowed to a still-strong 7.9% over a year earlier in the three months ending in June as a rebound from the coronavirus leveled off. As expected, the growth reported Thursday fell from the previous quarter’s explosive 18.3%,...