Latest Economic growth News

A medical worker wearing gear to protect against coronavirus infection disinfects a driver of his ambulance after escorting a patient to a hospital for COVID-19 patients in St.Petersburg, Russia, Thursday, June 4, 2020. (AP Photo/Dmitri Lovetsky)

The Latest: Filipino leader says US unrest hurts virus fight

Jun. 4, 2020 11:59 PM EDT

MANILLA, Philippines — Philippines President Rodrigo Duterte says that he is glad “Filipinos are really law-abiding” and that the Philippines is not going through unrest like America, which would make the coronavirus quarantine enforcement formidable. Duterte made the remarks during a...

In this June 2, 2020, photo, Democratic presidential candidate, former Vice President Joe Biden speaks in Philadelphia. Biden is pledging to unveil a series of proposals in coming weeks aimed at reversing the economic devastation wrought by the pandemic and addressing inequalities sparking protests sweeping the country. (AP Photo/Matt Rourke)

Biden to focus on economic plans, inequality in weeks ahead

Jun. 4, 2020 5:09 PM EDT

WASHINGTON (AP) — Joe Biden is pledging to unveil a series of proposals in coming weeks aimed at reversing the economic devastation wrought by the coronavirus pandemic and addressing inequalities that have contributed to protests sweeping the country. The presumptive Democratic presidential nominee and his...

A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Thursday, June 4, 2020.  Asian stock markets are mixed after Wall Street rose on better U.S. jobs and manufacturing data than expected.(AP Photo/Lee Jin-man)

Asia markets mixed after Wall Street rises on better US data

Jun. 3, 2020 11:54 PM EDT

Most Asian stock markets were mixed Thursday after Wall Street gain on surveys showing better U.S. jobs and manufacturing conditions than expected. Benchmarks in Shanghai and Hong Kong declined while Tokyo, Sydney and Southeast Asia advanced. Stock markets have risen on optimism about a possible global recovery...

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, June 3, 2020. Asian shares are rising after Wall Street extended its gains for the third straight day, driven by optimism over economies reopening from shutdowns to stem the coronavirus pandemic. (AP Photo/Ahn Young-joon)

Asian shares rise as Wall Street gains for 3rd straight day

Jun. 2, 2020 11:40 PM EDT

TOKYO (AP) — Asian shares rose Wednesday after Wall Street extended its gains for the third straight day, driven by optimism over economies reopening from shutdowns to stem the coronavirus pandemic. Japan's benchmark Nikkei 225 gained 1.1% to 22,581.19 in morning trading. Australia's S&P/ASX 200 rose...

A bartender brings drinks to customers in a cafe of Saint Jean de Luz, southwestern France, Tuesday June 2, 2020. The French way of life resumes Tuesday with most virus-related restrictions easing as the country prepares for the summer holiday season amid the pandemic. Restaurants and cafes reopen Tuesday with a notable exception for the Paris region, the country's worst-affected by the virus, where many facilities will have to wait until June 22 to reopen. (AP Photo/Bob Edme)

Parisians return to cafes; Latin America sees virus surge

Jun. 2, 2020 10:03 AM EDT

PARIS (AP) — Parisians returned to the City of Light’s beloved sidewalk cafes as lockdown restrictions eased Tuesday, but health experts expressed deep concerns as several Latin American countries opted to reopen their economies despite a rapid rise in coronavirus cases. The post-lockdown freedom...

Senate Minority Leader Sen. Chuck Schumer of N.Y., center, arrives for a news conference on Capitol Hill in Washington, Tuesday, May 12, 2020. (AP Photo/Patrick Semansky)

CBO projects virus impact could trim GDP by $15.7 trillion

Jun. 1, 2020 8:06 PM EDT

WASHINGTON (AP) — The Congressional Budget Office said Monday that the U.S. economy could be $15.7 trillion smaller over the next decade than it otherwise would have been if Congress does not mitigate the economic damage from the coronavirus. The CBO, which had already issued a report forecasting a severe...

Survey shows business leaders optimistic despite coronavirus

Jun. 1, 2020 10:41 AM EDT

OMAHA, Neb. (AP) — Business leaders are optimistic the economy will begin to recover later this year in a nine-state region of the Midwest and Plains despite the ongoing impact of the coronavirus outbreak, according to a monthly survey released Monday. The overall index for the region improved in May to...

A cobbler covers his face with a scarf and works in the shade of a dilapidated building in Kohima, capital of the northeastern Indian state of Nagaland, Friday, May 29, 2020. India’s economic growth will fall to 4.2% in financial year 2019-20 as compared to 6.1% in the previous year and likely to contract this year because of the coronavirus pandemic. Millions of workers have fled cities after losing their jobs as authorities imposed the lockdown in March and started easing it early this month to promote economic activity. (AP Photo/Yirmiyan Arthur)

India's economic growth dips during coronavirus pandemic

May. 29, 2020 1:52 PM EDT

NEW DELHI (AP) — India’s economy grew by 4.2% in the fiscal year that ended in March, down from 6.1% the previous year, the government said Friday, and is likely to contract this year because of the coronavirus pandemic. The growth dipped to 3.1% in January-March, the last quarter of the fiscal...

FILE - In this Feb. 20, 2020, file photo President Donald Trump arrives to speak at a campaign rally at The Broadmoor World Arena in Colorado Springs, Colo. As the economy faces a once-in-a-century recession, with more than 38 million people out of work, Trump is increasingly talking up a future recovery that probably won't materialize until after the November election. (AP Photo/Evan Vucci, File)

White House punts economic update as election draws near

May. 29, 2020 12:06 AM EDT

WASHINGTON (AP) — The White House has taken the unusual step of deciding not to release an updated economic forecast as planned this year, a fresh sign of the administration's anxiety about how the coronavirus has ravaged the nation just months before the election. The decision, which was confirmed...

FILE - In this Feb. 20, 2020, file photo President Donald Trump arrives to speak at a campaign rally at The Broadmoor World Arena in Colorado Springs, Colo. As the economy faces a once-in-a-century recession, with more than 38 million people out of work, Trump is increasingly talking up a future recovery that probably won't materialize until after the November election. (AP Photo/Evan Vucci, File)

White House punts economic update as election draws near

May. 28, 2020 5:58 PM EDT

WASHINGTON (AP) — The White House took the unusual step on Thursday of deciding not to release an updated economic forecast as planned this year, a fresh sign of the administration's anxiety about how the coronavirus has ravaged the nation just months before the election. The decision, which was confirmed...