Latest Economy News
Yellen says isolationism 'made America and the world worse off' in speech to global finance leaders
WASHINGTON (AP) — Treasury Secretary Janet Yellen is telling world financial leaders that the U.S. economy has grown stronger because the Biden administration rejected isolationism, offering a barely veiled criticism of former President Donald Trump’s policies two weeks before the U.S....
Israel's war against militants is expensive. Paying the bill could force tough choices
On top of the grievous toll in human life and misery, Israel's war against the Hamas and Hezbollah militant groups has been expensive, and the painfully high financial costs are raising concerns about the long-term effect of the fighting on the country's economy. Military spending...
Takeaways from AP's reporting on how Arizona voters view the economy with the election close at hand
MESA, Ariz. (AP) — The Arizona economy by many measures is flourishing, but it doesn't feel that way for a lot of voters in the presidential battleground state as they consider their choices on Nov. 5. Voters are hearing Democrats and Republicans promise to help the middle class if...
Wealthier Americans are driving retail spending and powering US economy
WASHINGTON (AP) — It’s a trend that has surprised many: Why, despite being squeezed by high prices, have Americans kept spending at retail stores and restaurants at a robust pace? One key reason is a relatively simple one: Wealthier consumers, boosted by strong gains in income,...
Malaysia to revamp gasoline subsidies and raise taxes in a bid to narrow deficit
KUALA LUMPUR, Malaysia (AP) — Malaysia will introduce new taxes and revamp gasoline, education and healthcare subsidies next year as part of aggressive reforms to narrow the country's fiscal deficit, Prime Minister Anwar Ibrahim said Friday as he unveiled a national budget for 2025. ...
China's economy grows at a 4.6% rate in the last quarter, falls short of the official 5% target
HONG KONG (AP) — China's economy expanded at an annual rate of 4.6% in the July-September quarter, the government said Friday, in the latest evidence that recent efforts to rev up growth have yet to take hold. The world’s second largest economy slowed from 4.7% annual growth in...
Stock market today: Wall Street drifts around its records following latest encouraging economic data
NEW YORK (AP) — U.S. stocks drifted around their record heights Thursday following the latest signals that the U.S. economy continues to hum. The S&P 500 finished virtually unchanged after flirting with its all-time high for much of the day. The Dow Jones Industrial Average...
Japan records trade deficit on weak yen, slowing exports
TOKYO (AP) — Japan racked up a trade deficit of 294.3 billion yen ($2 billion) in September, according to Finance Ministry data released Thursday, as exports fell to key destinations like China. For the first half of the April to March fiscal year, Japan’s trade deficit, or its...
Ahead of the presidential election, small biz owners are growing more uncertain about the economy
NEW YORK (AP) — Small business owners are growing more uncertain about the economy ahead of the presidential election and are reining in spending, according to a new survey. The National Federation of Independent Business optimism index edged up 0.3 points in September to 91.5. But...
China’s exports slow sharply in September, adding to worries over the economy
HONG KONG (AP) — China’s exports slowed sharply in September as global demand weakened, adding to worries over how to recharge growth in the world’s second-largest economy. Exports rose 2.4% in dollar terms from a year earlier last month, down from 8.7% year-on-year growth in...
