Latest Economic growth News

US economy grew 5.7% in 2021 in rebound from 2020 recession

Jan. 27, 2022 09:36 AM EST

WASHINGTON (AP) — The U.S. economy grew last year at the fastest pace since Ronald Reagan's presidency, bouncing back with resilience from 2020's brief but devastating coronavirus recession. The nation’s gross domestic product — its total output of goods and services —...

US economy grew 6.9% last quarter and 5.7% for all of 2021 in sharp rebound from pandemic recession of 2020

Jan. 27, 2022 08:35 AM EST
WASHINGTON (AP) — US economy grew 6.9% last quarter and 5.7% for all of 2021 in sharp rebound from pandemic recession of 2020.

From Tiananmen to Hong Kong, China's crackdowns defy critics

Jan. 27, 2022 00:25 AM EST

BEIJING (AP) — From the deadly crushing of Beijing’s 1989 pro-democracy protests to the suppression of Hong Kong’s opposition four decades later, China’s Communist Party has demonstrated a determination and ability to stay in power that is seemingly impervious to Western criticism and...

German government cuts 2022 economic growth forecast to 3.6%

Jan. 26, 2022 06:22 AM EST

BERLIN (AP) — The German government on Wednesday cut its growth forecast for this year, but said that Europe's biggest economy remains “robust” and will return to its pre-pandemic size in 2022. The Economy Ministry predicted that gross domestic product will grow by 3.6%, down...

China 2008 vs 2022: Richer, stronger, more confrontational

Jan. 25, 2022 23:13 PM EST

BEIJING (AP) — China has undergone history-making change since the last time it was an Olympic host in 2008: It is richer, more heavily armed and openly confrontational. As President Xi Jinping’s government prepares for February’s Winter Olympics, it has greater leverage to...

Asian shares mixed in narrow trading ahead of Fed meeting

Jan. 25, 2022 21:45 PM EST

TOKYO (AP) — Asian shares were mixed in muted trading Wednesday as many investors stayed on the sidelines ahead of a U.S. Federal Reserve meeting that will indicate how aggressive it will be in fighting inflation. Japan's benchmark Nikkei 225 slipped 0.7% in morning trading to...

To highlight economic growth, Biden goes shopping for gifts

Jan. 25, 2022 21:26 PM EST

WASHINGTON (AP) — President Joe Biden pledged last week to chat more with everyday Americans and took an initial step Tuesday afternoon by visiting a gift shop and ice cream store in Washington's Capitol Hill neighborhood. Biden went shopping at Honey Made, a boutique that opened...

Stock investors' nerves tested by inflation, omicron, Russia

Jan. 25, 2022 17:56 PM EST

NEW YORK (AP) — The stock market is losing crucial support from the Federal Reserve. Omicron is causing havoc at businesses around the world. And Russia just might be preparing to invade Ukraine, creating more uncertainty and raising the prospect of even higher oil prices. No...

World Bank: Lebanon's meltdown threatens social peace

Jan. 25, 2022 13:07 PM EST

BEIRUT (AP) — Lebanon’s economy contracted by more than 58%, the World Bank said Tuesday, warning in a report that the small country’s financial meltdown poses a threat to long-term stability and social peace. It accused Lebanese leaders of being indifferent to the nation’s...

Bankers survey: Rural economy stays strong in 10 states

Jan. 20, 2022 14:13 PM EST

OMAHA, Neb. (AP) — The economy in rural parts of 10 Plains and Western states remains strong, according to a new monthly survey of bankers in the region released Thursday, but those bankers said they have growing concerns about the rising costs associated with running farms. The...