Latest Economic outlook News

Walz touts opportunities from massive $17.6B budget surplus

Dec. 06, 2022 17:18 PM EST

ST. PAUL, Minn. (AP) — Minnesota lawmakers learned Tuesday they will head into the 2023 legislative session with a massive $17.6 billion projected budget surplus, and Gov. Tim Walz said he would like to return some of that money to taxpayers with rebate checks. “The golden...

Asian shares lower as strong data hit hopes for dovish Fed

Dec. 05, 2022 23:18 PM EST

BANGKOK (AP) — Stocks were mostly lower in Asia on Tuesday after Wall Street pulled back as surprisingly strong economic reports highlighted the difficulty of the Federal Reserve’s fight against inflation. Tokyo rose while other regional markets declined. U.S. futures gained and...

Wall Street ends mixed following strong data on wages, jobs

Dec. 02, 2022 17:28 PM EST

Worries about inflation weighed on Wall Street Friday, leaving major indexes mixed after a report showed wages for U.S. workers are accelerating, which is good news for them but could feed into even higher inflation for the nation. The S&P 500 ended 0.1% lower after having been...

EXPLAINER: 5 key takeaways from the November jobs report

Dec. 02, 2022 14:16 PM EST

WASHINGTON (AP) — For nearly nine months, the Federal Reserve has relentlessly raised interest rates to try to slow the U.S. job market and bring inflation under control. And for just as long, the job market hasn’t seemed to get the message. The November employment...

Kentucky agriculture on pace to achieve record receipts

Dec. 01, 2022 18:44 PM EST

LOUISVILLE, Ky. (AP) — Having endured a turbulent year marked by high inflation and extreme weather trends, Kentucky agriculture is on pace to achieve record-setting cash receipts, agricultural economists said Thursday. Statewide farm cash receipts this year are projected to...

Kansas sees taxes fall 5.3% short of expections in November

Dec. 01, 2022 18:32 PM EST

TOPEKA, Kan. (AP) — Kansas collected 5.3% less in taxes than expected in November, the first time in more than two years that its collections have fallen short of the state's monthly target. The shortfall was $36 million, but the state Department of Revenue's report Thursday came...

An inflation gauge tracked by the Fed slows to still-high 6%

Dec. 01, 2022 09:19 AM EST

WASHINGTON (AP) — A measure of inflation that is closely monitored by the Federal Reserve eased but remained at an elevated level in October, likely reinforcing the Fed's intent to keep raising interest rates to cool the economy and slow the acceleration of prices. Thursday's...

Asian shares gain after Fed chair signals slower rate hikes

Nov. 30, 2022 23:18 PM EST

BANGKOK (AP) — Shares advanced in Asia on Thursday after a rally on Wall Street spurred by the Federal Reserve chair's comments on easing the pace of interest rate hikes to tame inflation. Signs that China may be shifting its approach to containing COVID-19 outbreaks to focus more...

US revises up last quarter's economic growth to 2.9% rate

Nov. 30, 2022 09:24 AM EST

WASHINGTON (AP) — Despite high interest rates and chronic inflation, the U.S. economy grew at a 2.9% annual rate from July through September, the government said Wednesday in a healthy upgrade from its initial estimate. Last quarter's rise in the U.S. gross domestic product — the...

Inflation in Europe eases but still in painful double digits

Nov. 30, 2022 07:46 AM EST

FRANKFURT, Germany (AP) — Inflation in Europe has eased for the first time in more than a year as energy prices drifted down from painful highs, but the double-digit rate still hovers near a record that has robbed consumers of their spending power and led economists to predict a recession. ...