Latest Economic growth News

China's auto sales sink 6.3% in September

Oct. 14, 2019 6:42 AM EDT

BEIJING (AP) — China's auto sales sank 6.3% in September from a year earlier and purchases of electric cars tumbled 34.2% at a time when the industry is spending heavily to meet government sales quotas for the technology, an industry group reported Monday. The global industry's biggest market is on track...

China's trade with US shrinks again in September

Oct. 14, 2019 6:33 AM EDT

BEIJING (AP) — China's trade with the United States fell by double digits again in September amid a tariff war that threatens to tip the global economy into recession. Exports to the United States, China's biggest foreign market, fell 21.9% to $36.5 billion, a deterioration from August's 16% decline,...

AP FACT CHECK: Trump's premature win on trade, Syria fiction

Oct. 14, 2019 1:13 AM EDT

WASHINGTON (AP) — It was a week of caustic rhetoric by President Donald Trump over Syria and the impeachment inquiry, and truth often took a beating. Seeking to justify pulling U.S. troops out of Syria, Trump spread false information about the total defeat of the Islamic State and misrepresented the scope...

Mozambique braces for 'ill-tempered and nasty' election

Oct. 13, 2019 8:16 AM EDT

MAPUTO, Mozambique (AP) — Mozambique's elections on Tuesday are almost certain to be won by the ruling Frelimo party and President Filipe Nyusi but it is unclear if the results will bring badly needed stability and economic growth. The southern African nation of nearly 30 million people has a strategic...

AP FACT CHECK: Trump's shoddy info on Syria, impeachment

Oct. 12, 2019 1:05 PM EDT

WASHINGTON (AP) — President Donald Trump spread shoddy information about Syria, the economy and matters at the heart of the impeachment inquiry against him in a week of caustic rhetoric. Some examples: TRUMP, on Hunter Biden, whose father is former Vice President Joe Biden, a Trump political rival: "Guy...

Asian stocks follow Wall Street higher on trade optimism

Oct. 10, 2019 11:58 PM EDT

BEIJING (AP) — Asian stock markets followed Wall Street higher Friday on optimism about U.S.-Chinese talks on ending a tariff war. Benchmarks in Tokyo, Hong Kong and Seoul advanced, while Shanghai edged lower following a week of gains. Traders were encouraged by President Donald Trump's plan to meet...

Survey: China's rich got richer in 2019 despite tariff war

Oct. 10, 2019 5:14 AM EDT

BEIJING (AP) — China's richest businesspeople got richer in 2019 despite a tariff war with Washington and an economic slowdown, a survey showed Thursday. The average net worth of China's richest 1,800 people rose 10% over 2018 to $1.4 billion, according to the Hurun Report, which tracks the country's...

Asian shares rise despite worries on US-China talks

Oct. 7, 2019 11:32 PM EDT

TOKYO (AP) — Asian shares rose Tuesday despite continuing worries about the health of the global economy ahead of trade talks between the U.S. and China. Japan's benchmark Nikkei 225 gained 1.1% to 21,604.16 in early trading. Australia's S&P/ASX 200 added nearly 0.6% to 6,599.60, while South Korea's...

Greece promises creditors it will deliver on budget pledge

Oct. 7, 2019 8:21 AM EDT

ATHENS, Greece (AP) — Greece has promised bailout lenders it will deliver a budget surplus next year and accelerate economic growth, according to the country's draft 2020 budget. The draft submitted Monday to parliament includes growth forecasts of 2.0% and 2.8% for 2019 and 2020 — above the...

Business economists foresee slowdown in US growth

Oct. 7, 2019 3:38 AM EDT

WASHINGTON (AP) — The nation's business economists think President Donald Trump's trade war with China will contribute to a sharp slowdown in economic growth this year and next, raising concerns about a possible recession starting late next year. The latest survey by a panel of 51 forecasters with the...