Latest Economic growth News

A worker wearing a face mask sprays disinfectant along a path in Wuhan in central China's Hubei Province, Tuesday, Jan. 28, 2020. China's death toll from a new viral disease that is causing global concern rose by 25 to at least 106 on Tuesday as the United States and other governments prepared to fly their citizens out of the locked-down city at center of the outbreak. (AP Photo/Arek Rataj)

Bad timing: New virus poses threat to fragile world economy

Jan. 28, 2020 4:54 PM EST

This should be peak season for a 12-room hotel near the train station in the Chinese industrial hub of Wuhan. The Chinese New Year usually brings in plenty of travelers and delivers profits of around $3,000 a month. But the place is empty. Wuhan, the center of a deadly viral outbreak, is on lockdown....

FILE- In this Oct. 24, 2017, file photo, the logo for 3M appears on a screen above the trading floor of the New York Stock Exchange. A profound slump in manufacturing and a trade war that has slowed economic growth in China has led to a second round of layoffs at 3M, the Minnesota company that, in addition to Post-it notes, makes industrial coatings and ceramics. (AP Photo/Richard Drew, File)

In grinding manufacturing slump, 3M cuts another 1,500 jobs

Jan. 28, 2020 4:39 PM EST

A profound slump in manufacturing and a trade war that has slowed economic growth in China has led to a second round of layoffs at 3M, the Minnesota company that makes Post-it notes as well as industrial coatings and ceramics. The 1,500 job cuts come on top of the 2,000 jobs the company trimmed less than a year...

The Capitol is seen as defense arguments by the Republicans resume in the impeachment trial of President Donald Trump on charges of abuse of power and obstruction of Congress, in Washington, Monday, Jan. 27, 2020. (AP Photo/J. Scott Applewhite)

Budget deficit to break $1 trillion despite strong economy

Jan. 28, 2020 2:34 PM EST

WASHINGTON (AP) — An annual congressional report says the U.S. budget deficit is likely to burst through the symbolic $1 trillion barrier this year despite a healthy economy. Tuesday's Congressional Budget Office report follows a burst of new spending last year and the repeal in December of several taxes...

A currency trader wearing a mask watches a calendar at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, Jan. 28, 2020. Asian shares continued to fall Tuesday, dragged down by worries about an outbreak of a new virus in China that threatens global economic growth. (AP Photo/Ahn Young-joon)

Asian shares sink on mounting worries over China outbreak

Jan. 27, 2020 11:30 PM EST

TOKYO (AP) — Asian shares skidded again Tuesday on deepening worries over the expanding outbreak of a new virus in China. Markets in Hong Kong and mainland China were closed Tuesday for Lunar New Year holidays, while South Korea's benchmark tumbled 3.4% to 2,170.88 as it reopened after its own holidays. ...

A woman reacts as anti-government protesters clash with police in downtown Beirut, Lebanon, Monday, Jan. 27, 2020. Lebanese security forces scuffled Monday with protesters near the parliament building in downtown Beirut where lawmakers are scheduled to begin a two-day discussion and later approval of the budget amid a crippling financial crisis. (AP Photo/Hassan Ammar)

Clashes in crisis-hit Lebanon as lawmakers pass budget

Jan. 27, 2020 11:39 AM EST

BEIRUT (AP) — Lebanese lawmakers on Monday passed a controversial state budget for 2020 that aims to tackle the country's crippling financial crisis, as angry protesters threw stones at security forces massed outside the Parliament. Security forces were heavily deployed during the legislative meeting and...

Survey of business economists finds slight rise in optimism

Jan. 27, 2020 12:02 AM EST

WASHINGTON (AP) — U.S. business economists are slightly more optimistic about economic growth than they were three months ago, and most foresee sales at their companies remaining solid. Those findings emerge from the latest survey by the National Association for Business Economics being released Monday. It...

FILE - In this Jan. 16, 2020, file photo, an investor monitors stock prices at a brokerage in Beijing. Several factors are pointing to a possible rebound in emerging market stocks this year. Stocks in China and other developing economies notched solid gains in 2019, but lagged the blockbuster market returns delivered by publicly traded companies in the U.S. and other developed economies. (AP Photo/Ng Han Guan, File)

Easing trade tensions bode well for emerging market stocks

Jan. 23, 2020 3:02 PM EST

LOS ANGELES (AP) — Several factors are pointing to a possible rebound in emerging market stocks this year. Stocks in China and other developing economies notched solid gains in 2019, but lagged the blockbuster market returns delivered by publicly traded companies in the U.S. and other developed economies....

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Jan. 23, 2020. Asian shares are mostly higher as health authorities around the world move to monitor and contain a deadly virus outbreak in China and keep it from spreading globally. (AP Photo/Ahn Young-joon)

Asian shares higher despite growing impact of China virus

Jan. 23, 2020 12:42 AM EST

BANGKOK (AP) — Asian shares were mostly higher Thursday as health authorities around the world moved to monitor and contain a deadly virus outbreak in China and keep it from spreading globally. China and other nations have ramped up screenings for fever on aircraft and at airports in measures that...

U.S. President Donald Trump leaves the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 22, 2020. Trump's two-day stay in Davos is a test of his ability to balance anger over being impeached with a desire to project leadership on the world stage. (AP Photo/Markus Schreiber)

Trump suggests he may be open to entitlement cuts in future

Jan. 22, 2020 5:05 PM EST

WASHINGTON (AP) — President Donald Trump appeared to suggest in a television interview Wednesday that he’s willing to consider entitlement cuts in the future, a move that would mark a tectonic shift from his stance during his 2016 run for the White House. Trump suggested he was open to a cut in...

U.S. President Donald Trump and Ivanka Trump, right, arrive at the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 22, 2020. The 50th annual meeting of the forum is taking place in Davos from Jan. 21 until Jan. 24, 2020. (AP Photo/Markus Schreiber)

The Latest: WTO chief says debate over trade rules will last

Jan. 22, 2020 1:31 PM EST

DAVOS, Switzerland (AP) — The Latest on the World Economic Forum in Davos, Switzerland (all times local): 7:25 p.m. The head of the World Trade Organization says an ongoing debate over special exemptions granted to China and India because they are still considered developing countries “is not going...