Latest Gross domestic product News

India's economy grows by 8.4% amid signs of recovery

Nov. 30, 2021 22:30 PM EST

NEW DELHI (AP) — India's economy grew at an 8.4% annual pace in the July-September quarter in the latest sign of an economic recovery in Asia’s third-largest economy, the government reported Tuesday. India suffered one of the biggest setbacks of any major economy in...

US GDP slowed sharply in Q3 but big rebound expected in Q4

Nov. 24, 2021 12:26 PM EST

WASHINGTON (AP) — The U.S. economy slowed to a modest annual rate of 2.1% in the July-September quarter according to the government’s second read of the data, slightly better than its first estimate. But economists are predicting a solid rebound in the current quarter as long as rising...

Japan's economy contracts on shrinking consumption, exports

Nov. 14, 2021 20:25 PM EST

TOKYO (AP) — Japan’s economy shrank at a 3% annual rate in the July-September quarter, as private consumption and auto production took a hit from efforts to curb the coronavirus pandemic. Japan's gross domestic product, which measures the value of a nation’s...

Germany's economic advisers cut 2021 growth forecast

Nov. 10, 2021 06:36 AM EST

BERLIN (AP) — The German government's panel of independent economic advisers on Wednesday cut its 2021 growth prediction for Europe's biggest economy to 2.7%, the latest in a series of downgrades by forecasters. The panel's new forecast was down from the 3.1% it...

US economy slowed to a 2% rate last quarter in face of COVID

Oct. 28, 2021 11:47 AM EDT

WASHINGTON (AP) — Hampered by rising COVID-19 cases and persistent supply shortages, the U.S. economy slowed sharply to a 2% annual growth rate in the July-September period, the weakest quarterly expansion since the recovery from the pandemic recession began last year. ...

US budget deficit hits $2.77 trillion in 2021, 2nd highest

Oct. 22, 2021 15:41 PM EDT

WASHINGTON (AP) — The U.S. budget deficit totaled $2.77 trillion for 2021, the second highest on record but an improvement from the all-time high of $3.13 trillion reached in 2020. The deficits in both years reflect trillions of dollars in government spending to counteract the devastating...

US slightly revises up its GDP estimate for Q2 to 6.7%

Sep. 30, 2021 10:35 AM EDT

WASHINGTON (AP) — The U.S. economy expanded at a 6.7% annual pace from April through June, the Commerce Department said Thursday, slightly upgrading its estimate of last quarter's growth in the face of a resurgence of COVID-19 in the form of the delta variant. The...

Draghi credits vaccines for Italy's economic recovery

Sep. 29, 2021 15:52 PM EDT

MILAN (AP) — Italy’s vaccination campaign is a key factor behind its economic recovery from the pandemic, Premier Mario Draghi said Wednesday after signing a document that forecast a higher-than-expected 6% growth this year. Draghi called vaccinations “an...

UN report: Afghanistan teeters on brink of universal poverty

Sep. 10, 2021 00:39 AM EDT

UNITED NATIONS (AP) — Afghanistan is teetering on the brink of “universal poverty” that could become a reality in the middle of next year unless urgent efforts are made to bolster local communities and their economies, the United Nations development agency said in a report launched...

The Latest: UN: Afghanistan on brink of “universal poverty”

Sep. 09, 2021 23:09 PM EDT

UNITED NATIONS -- The United Nations development agency says Afghanistan is teetering on the brink of “universal poverty” which could become a reality in the middle of next year unless urgent efforts are made to bolster local communities and their economies. It said...