Latest Economic outlook News

Asian shares mixed as virus fears cloud economic outlook

Sep. 27, 2021 02:44 AM EDT

TOKYO (AP) — Asian shares were mixed Monday, as fears of further waves of coronavirus outbreaks clouded the economic outlook for the region, tempering gains. Japan's benchmark Nikkei 225 was little changed in afternoon trading, inching up less than 0.1% to 30,254.01...

Business economists lower growth forecasts due to virus

Sep. 27, 2021 00:07 AM EDT

NEW YORK (AP) — The nation's business economists now expect slower economic growth this year due to the widespread delta variant of the coronavirus, while also saying the economy could improve more quickly next year as vaccinations become more accepted. In a survey...

Asian shares up, Shanghai slips as virus fears cloud outlook

Sep. 26, 2021 23:40 PM EDT

TOKYO (AP) — Asian shares were mostly higher Monday, but fears of further waves of coronavirus outbreaks were clouding the economic outlook for the region, tempering the rally. Japan's benchmark Nikkei 225 rose 0.3% to 30,35.62. Australia's S&P/ASX 200 gained 0.7%...

Washington state revenues up nearly $1 billion

Sep. 24, 2021 16:56 PM EDT

OLYMPIA, Wash. (AP) — Washington state's economy is projected to have nearly $1 billion more than previously assumed through mid-2023. Updated numbers by the Economic and Revenue Forecast Council released Friday show that projected revenue collections for the 2021-2023...

Business group: China's tech self-reliance plans hurt growth

Sep. 22, 2021 21:08 PM EDT

BEIJING (AP) — The ruling Communist Party’s campaign to tighten control over China’s industries and use less foreign technology is slashing economic growth, a foreign business group warned Thursday. The European Union Chamber of Commerce in China appealed to Beijing...

Fed: On track to slow support for economy later this year

Sep. 22, 2021 18:26 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell signaled Wednesday that the Fed plans to announce as early as November that it will start withdrawing the extraordinary support it unleashed after the coronavirus paralyzed the economy 18 months ago. Powell said...

Text of the Federal Reserve's statement after its meeting

Sep. 22, 2021 14:26 PM EDT

WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting ended: The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price...

ADB: Asia below pre-pandemic levels as variants slow rebound

Sep. 21, 2021 22:31 PM EDT

Developing economies in Asia will likely grow at a slower pace than earlier expected due to prolonged COVID-19 outbreaks and uneven progress in vaccinations, the Asian Development Bank said in a report Wednesday. The regional lender lowered its outlook for economic...

EXPLAINER: Chinese builder’s debt struggle rattles investors

Sep. 21, 2021 16:15 PM EDT

BEIJING (AP) — Global investors are watching nervously as one of China’s biggest real estate developers struggles to avoid defaulting on tens of billions of dollars of debt, fueling fears of possible wider shock waves for the financial system. Chinese regulators have...

Fed likely to signal a coming pullback in economic support

Sep. 20, 2021 11:46 AM EDT

WASHINGTON (AP) — The Federal Reserve is expected this week to send its clearest signal yet that it will start reining in its ultra-low-interest rate policies later this year, a first step toward unwinding the extraordinary support it's given the economy since the pandemic struck 18 months...