Latest Economy News

IMF's Georgieva says there's 'plenty to worry about' despite recovery for many economies

Apr. 18, 2024 17:40 PM EDT

WASHINGTON (AP) — The head of the International Monetary Fund said Thursday that the world economy has proven surprisingly resilient in the face of higher interest rates and the shock of war in Ukraine and Gaza, but "there is plenty to worry about,'' including stubborn inflation and rising levels...

'There is no time to waste': EU leaders want to boost competitiveness to close gap with US and China

Apr. 18, 2024 13:41 PM EDT

BRUSSELS (AP) — European Union leaders on Thursday debated a new “European Competitiveness Deal” aimed at helping the 27-nation bloc close the economic production gap with Chinese and American rivals amid fears the region's industries will otherwise be left behind for good. In...

IMF: Outlook for world economy is brighter, though still modest by historical standards

Apr. 16, 2024 12:21 PM EDT

WASHINGTON (AP) — The International Monetary Fund has upgraded its outlook for the global economy this year, saying the world appears headed for a “soft landing” — reining in inflation without much economic pain and producing steady if modest growth. The IMF now envisions...

China's economy grew 5.3% in first quarter, beating expectations, though weak spots remain

Apr. 16, 2024 06:46 AM EDT

HONG KONG (AP) — China’s economy grew faster than expected in the first quarter of the year with help from policies and stronger demand, though signs of weakness in the troubled housing market persisted. The world’s second-largest economy expanded at a 5.3% annual pace in...

China's economy grew at 5.3% in the first quarter, beating estimates with help from policies and better demand

Apr. 15, 2024 22:15 PM EDT
HONG KONG (AP) — China's economy grew at 5.3% in the first quarter, beating estimates with help from policies and better demand.

US consumer sentiment falls slightly as outlook for inflation worsens

Apr. 12, 2024 11:10 AM EDT

WASHINGTON (AP) — Consumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans' outlook largely unchanged this year. The University of Michigan’s consumer sentiment index, released Friday in a preliminary version, slipped to 77.9 this...

China's exports tumble 7.5% in March and imports also fall as demand slows

Apr. 12, 2024 07:41 AM EDT

HONG KONG (AP) — China’s exports contracted in March after growing in the first two months of the year, underscoring the uneven nature of the country's recovery from the pandemic. Customs data released Friday show exports declined 7.5% in March from a year earlier, while imports...

Stock market today: Asia stocks are mostly lower after Wall St rebound led by Big Tech

Apr. 12, 2024 00:36 AM EDT

HONG KONG (AP) — Asia stocks were mostly lower on Friday after gains for Big Tech shares helped U.S. stock indexes claw back much of their slide from the day before. U.S. futures and oil prices were higher. In Tokyo, the Nikkei 225 index was up 0.4% at 39,609.60,...

U.S. stocks soar above global markets, giving investors solid path for growth

Apr. 11, 2024 21:03 PM EDT

NEW YORK (AP) — U.S. markets are far outpacing their global counterparts in 2024, continuing a decade-long trend of strong growth compared with the rest of the world. The S&P 500 is up 10% for the year, compared to just 4% for developed markets outside the U.S. Since 2019 the...

As world's central banks wrestle with when to cut rates, Europe signals it's ready to move

Apr. 11, 2024 11:11 AM EDT

FRANKFURT, Germany (AP) — The European Central Bank signalled Thursday it could cut interest rates at its next meeting in June, a big step as the rich world's central banks, including the U.S. Federal Reserve, wrestle with how soon declining inflation will let them lower credit costs for business...