Latest Economic outlook News

UK inflation unexpectedly holds steady at 1.7% in September

Oct. 16, 2019 5:26 AM EDT

LONDON (AP) — Official figures show that falling fuel and secondhand car prices helped keep consumer price inflation in Britain unchanged in September at 1.7%, its lowest rate since late 2016. The flat reading from the Office for National Statistics was unexpected — most economists predicted a...

After ending protests, Ecuador faces dire economic outlook

Oct. 15, 2019 6:17 PM EDT

QUITO, Ecuador (AP) — President Lenín Moreno survived the toughest political crisis of his presidency by negotiating an end to indigenous anti-austerity protests. Now he faces an even tougher challenge. Ten years of populist rule and a drop in oil prices have left Ecuador with a $64 billion public...

Auditor: Missouri needs to save more for a recession

Oct. 15, 2019 4:35 PM EDT

JEFFERSON CITY, Mo. (AP) — Missouri isn't saving enough money to avoid having to cut spending or raise taxes if there is a recession, state Auditor Nicole Galloway said Tuesday. Galloway recommended that state lawmakers increase the amount in Missouri's Budget Reserve Fund to the maximum allowed under the...

IMF downgrades outlook for world economy, citing trade wars

Oct. 15, 2019 11:49 AM EDT

WASHINGTON (AP) — The International Monetary Fund is further downgrading its outlook for the world economy, predicting that growth this year will be the weakest since the 2008 financial crisis, primarily because of widening global conflicts. The IMF's latest World Economic Outlook released Tuesday foresees...

IMF welcomes attempt to resolve dispute in Ecuador

Oct. 15, 2019 11:46 AM EDT

WASHINGTON (AP) — The International Monetary Fund said Tuesday it welcomes the decision by Ecuadorian President Lenín Moreno to cancel an austerity package following more than a week of protests. Gita Gopinath, IMF's chief economist, said the agency welcomes the attempt "to bring in all stakeholders...

UK labor market weakening amid Brexit uncertainty

Oct. 15, 2019 10:17 AM EDT

LONDON (AP) — Brexit uncertainty appears to be finally affecting Britain's labor market, which has been resilient over the past three years in spite of a slowdown in economic growth. With the scheduled Brexit deadline of Oct. 31 looming, it's increasingly clear that firms are beginning to hold back on...

Markets Right Now: US stocks jump on trade progress

Oct. 11, 2019 4:15 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks are closing sharply higher Friday as the U.S. and China reached a partial deal on trade and said they would continue negotiating. President Donald Trump agreed to suspend an increase in tariffs on $250 billion...

Hopes are dim as US and China resume high-stakes trade talks

Oct. 9, 2019 10:54 AM EDT

WASHINGTON (AP) — President Donald Trump and China's Xi Jinping have plenty of reasons to call off their trade war. Both face weakening economies that would likely further deteriorate if their conflict escalates. Both are up against a formidable adversary that shows no inclination to yield. Both are...

Business economists foresee slowdown in US growth

Oct. 7, 2019 3:38 AM EDT

WASHINGTON (AP) — The nation's business economists think President Donald Trump's trade war with China will contribute to a sharp slowdown in economic growth this year and next, raising concerns about a possible recession starting late next year. The latest survey by a panel of 51 forecasters with the...

US stocks notch solid gains as job report allays worries

Oct. 4, 2019 5:19 PM EDT

Wall Street ended a choppy week of trading with a broad rally that drove the Dow Jones Industrial Average more than 370 points higher. The gains Friday also gave the S&P 500 index its best day in seven weeks, though the benchmark index still finished with its third straight weekly loss. Technology, health...