Latest Economic growth News

Report: Hurricane Dorian inflicted $3.4B losses on Bahamas

Nov. 15, 2019 5:14 PM EST

SAN JUAN, Puerto Rico (AP) — Hurricane Dorian inflicted losses of about $3.4 billion on the Bahamas, an amount equal to one-quarter of the Caribbean archipelago’s GDP, according to a report released Friday. The report by the Inter-American Development Bank also said there were 67 confirmed deaths...

Global markets lower amid uncertainty about US-China trade

Nov. 14, 2019 7:58 AM EST

BEIJING (AP) — Global stock markets slipped Thursday amid doubts about a U.S.-Chinese trade deal and after the U.S. Federal Reserve chairman said it is likely to leave its benchmark interest rate unchanged. London and Frankfurt were trading lower after Tokyo and Hong Kong closed down for the day. Wall...

German economy avoids recession in 3Q, but challenges remain

Nov. 14, 2019 4:03 AM EST

BERLIN (AP) — Germany’s economy, Europe’s largest, avoided entering a widely-anticipated recession in the third quarter as strong domestic spending helped spark modest growth, the Federal Statistical Office reported Thursday. The Wiesbaden-based agency said the economy grew 0.1% in the...

German economy grows slightly in 3rd quarter, averting feared recession

Nov. 14, 2019 2:06 AM EST
BERLIN (AP) — German economy grows slightly in 3rd quarter, averting feared recession.

Japan’s economy slows, logging 0.2% annual expansion in 3Q

Nov. 13, 2019 11:44 PM EST

TOKYO (AP) — Japan’s economy grew at a modest annual pace of 0.2% in July-September, supported by consumer purchases ahead of a tax hike, the government said Thursday. It was the fourth straight quarter of expansion for the world’s third largest economy, but well below analysts’...

Asian markets mixed after Wall Street high

Nov. 13, 2019 11:20 PM EST

BEIJING (AP) — Asian stock markets were mixed Thursday amid doubts about the status of a U.S.-Chinese trade deal after the U.S. Federal Reserve’s chairman said it is likely to leave its benchmark interest rate unchanged. Investors were wary after The Wall Street Journal reported Chinese negotiators...

Fed’s Powell sees steady growth, signals pause in rate cuts

Nov. 13, 2019 4:27 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Wednesday that the Fed is likely to keep its benchmark short-term interest rate unchanged in the coming months, unless the economy shows signs of worsening. But for now, in testimony before a congressional panel, Powell expressed optimism about...

Trump claims credit for economy, jobs in New York speech

Nov. 12, 2019 2:54 PM EST

NEW YORK (AP) — Despite a slowing economy, President Donald Trump declared Tuesday that the United States was enjoying a "boom the likes of which we have never seen before!" Trump told the Economic Club of New York that "we have delivered on our promises — and exceeded our expectations by a very...

Morales' exit stymies comeback for Latin America's left

Nov. 12, 2019 2:53 PM EST

The sudden resignation of Bolivia's Evo Morales sent shockwaves throughout Latin America, where the indigenous leader had been the last survivor among a wave of leftist leaders swept to power two decades ago as commodity prices soared. But the upheaval that has recently rocked the region, threatening Trump allies...

China's Alibaba, JD report booming Singles Day sales

Nov. 11, 2019 7:46 PM EST

BEIJING (AP) — Chinese e-commerce giants Alibaba and reported nearly $70 billion in sales Monday on Singles Day, an annual marketing event that is the world's busiest online shopping day. The day was a temporary relief to retailers that face fading demand as Chinese consumers tighten their belts,...