Latest Economic growth News

Wobbly day on Wall Street ends mixed; New highs for S&P, Dow

Nov. 13, 2019 5:10 PM EST

Wall Street capped a wobbly day for stocks with another record-setting finish Wednesday. The Dow Jones Industrial Average and S&P 500 index each eked out a modest gain that was good enough to nudge them to record highs. The Nasdaq closed just below its all-time high set a day earlier. The latest milestones...

Fed’s Powell sees steady growth, signals pause in rate cuts

Nov. 13, 2019 4:27 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Wednesday that the Fed is likely to keep its benchmark short-term interest rate unchanged in the coming months, unless the economy shows signs of worsening. But for now, in testimony before a congressional panel, Powell expressed optimism about...

Trump claims credit for economy, jobs in New York speech

Nov. 12, 2019 2:54 PM EST

NEW YORK (AP) — Despite a slowing economy, President Donald Trump declared Tuesday that the United States was enjoying a "boom the likes of which we have never seen before!" Trump told the Economic Club of New York that "we have delivered on our promises — and exceeded our expectations by a very...

Morales' exit stymies comeback for Latin America's left

Nov. 12, 2019 2:53 PM EST

The sudden resignation of Bolivia's Evo Morales sent shockwaves throughout Latin America, where the indigenous leader had been the last survivor among a wave of leftist leaders swept to power two decades ago as commodity prices soared. But the upheaval that has recently rocked the region, threatening Trump allies...

China's Alibaba, JD report booming Singles Day sales

Nov. 11, 2019 7:46 PM EST

BEIJING (AP) — Chinese e-commerce giants Alibaba and JD.com reported nearly $70 billion in sales Monday on Singles Day, an annual marketing event that is the world's busiest online shopping day. The day was a temporary relief to retailers that face fading demand as Chinese consumers tighten their belts,...

UK avoids recession but economy growing at near decade lows

Nov. 11, 2019 7:45 AM EST

LONDON (AP) — The British economy avoided falling into recession in the third quarter of the year, but annual growth is running at a near-decade low rate as a result of ongoing uncertainty related to Britain's departure from the European Union and a subdued global backdrop, official figures showed Monday....

Indiana projected to trail national growth rate next year

Nov. 9, 2019 10:12 AM EST

INDIANAPOLIS (AP) — Indiana University economists are projecting that the state won't keep up with national economic growth over the coming year. The Kelley School of Business' annual economic forecast for 2020 expects Indiana to see about 1.25% growth, trailing the 2% national growth rate. The economists...

Uncertainty over US-China trade keeps markets in check

Nov. 8, 2019 8:11 AM EST

LONDON (AP) — Uncertainty about a possible U.S.-Chinese agreement to roll back tariffs in their trade war kept global markets in check Friday. Though the two sides have agreed to reduce some punitive tariffs on each other's goods, the full extent of the rollback wasn't clear. A Chinese spokesman announced...

China's trade with US shrinks in October despite optimism

Nov. 8, 2019 12:31 AM EST

BEIJING (AP) — U.S.-Chinese trade contracted again in October, despite optimism about possible progress in talks aimed at ending a tariff war that threatens global economic growth. Chinese imports of U.S. goods fell 14.3% from a year earlier to $9.4 billion, customs data showed Friday. Exports to the...

Germany's Merkel: 2% of GDP on defense by 2031 'realistic'

Nov. 7, 2019 11:20 AM EST

BERLIN (AP) — Germany's defense minister is calling for the country to spend 2% of gross domestic product on defense by 2031, a target Chancellor Angela Merkel called "realistic but ambitious." NATO members in 2014 agreed to "aim to move toward" increasing defense spending to 2% of GDP by 2024. The U.S....