Latest Economic growth News

US budget deficit hits $2.77 trillion in 2021, 2nd highest

Oct. 22, 2021 15:41 PM EDT

WASHINGTON (AP) — The U.S. budget deficit totaled $2.77 trillion for 2021, the second highest on record but an improvement from the all-time high of $3.13 trillion reached in 2020. The deficits in both years reflect trillions of dollars in government spending to counteract the devastating...

Strong economic growth continues in rural parts of 10 states

Oct. 21, 2021 15:43 PM EDT

OMAHA, Neb. (AP) — Strong economic growth continues in rural parts of 10 Plains and Western states, according to a new monthly survey of bankers in the region. The overall economic index for the region improved in October to 66.1 from September's already-strong 62.5...

30 business leaders are promoting sustainable investments

Oct. 19, 2021 20:09 PM EDT

UNITED NATIONS (AP) — Thirty top business leaders are seeking to encourage private investment to help the U.N. achieve development goals for 2030, including tackling climate change, preserving the environment, ending poverty, promoting economic growth, and improving health care and...

Walz launches reelection campaign in divided Minnesota

Oct. 19, 2021 16:14 PM EDT

MINNEAPOLIS (AP) — Democratic Gov. Tim Walz launched his campaign for a second term Tuesday in an increasingly divided Minnesota, saying he made the tough calls necessary to beat back the COVID-19 pandemic and revive the economy. “Peggy and I asked Minnesotans to come...

IMF sees economic growth with higher inflation for Mideast

Oct. 19, 2021 09:52 AM EDT

DUBAI, United Arab Emirates (AP) — The Middle East is expected to see significant economic growth this year, but also soaring inflation and food prices, as coronavirus vaccines are unevenly rolled out across the region, the International Monetary Fund said Tuesday. The...

Commerce head out to save US jobs, 1 computer chip at a time

Oct. 18, 2021 14:01 PM EDT

WASHINGTON (AP) — Gina Raimondo only wears watches made by Bulova — a company that laid off her scientist father, closed its Rhode Island factory and moved production to China in 1983. The watches give Raimondo, the U.S. commerce secretary, a sense of mission as...

Asian shares slide as Chinese growth data disappoints

Oct. 18, 2021 00:27 AM EDT

Asian shares were mostly lower on Monday after China reported its economy grew at a meager 4.9% annual pace in July-September. The Shanghai Composite index lost 0.4% to 3,559.96 while the Hang Seng in Hong Kong declined 0.4% to 25,246.38. Chinese...

China's economic growth weakens amid construction slowdown

Oct. 18, 2021 00:09 AM EDT

BEIJING (AP) — China’s economic growth is sinking under pressure from a construction slowdown and power shortages, prompting warnings about a possible shock to its trading partners and global financial markets. The world’s second-largest economy grew by a...

China's economic growth sinks to 4.9% over a year ago in latest quarter amid construction slowdown, energy controls

Oct. 17, 2021 22:01 PM EDT
BEIJING (AP) — China's economic growth sinks to 4.9% over a year ago in latest quarter amid construction slowdown, energy controls.

JPMorgan's 3Q profits rise, but low rates weigh on revenue

Oct. 13, 2021 13:05 PM EDT

NEW YORK (AP) — JPMorgan Chase posted a 24% jump in third-quarter profits on Wednesday, largely driven by one-time items that boosted its results, as the bank struggled to grow revenues with interest rates at near-zero levels. Despite the slow revenue growth, the bank...