Latest Economic outlook News

Europe's Christmas markets warily open as COVID cases rise

Nov. 25, 2021 12:10 PM EST

FRANKFURT, Germany (AP) — The holiday tree is towering over the main square in this central German city, the chestnuts and sugared almonds are roasted, and kids are clambering aboard the merry-go-round just like they did before the pandemic. But a surge in coronavirus infections has left an...

Americans are spending but inflation casts pall over economy

Nov. 24, 2021 18:41 PM EST

WASHINGTON (AP) — Americans are doing the main thing that drives the U.S. economy — spending — but accelerating inflation is casting a pall. A raft of economic data issued Wednesday showed the economy on solid footing, with Americans’ incomes rising and jobless...

US GDP slowed sharply in Q3 but big rebound expected in Q4

Nov. 24, 2021 12:26 PM EST

WASHINGTON (AP) — The U.S. economy slowed to a modest annual rate of 2.1% in the July-September quarter according to the government’s second read of the data, slightly better than its first estimate. But economists are predicting a solid rebound in the current quarter as long as rising...

EU says economic recovery threatened by COVID-19 resurgence

Nov. 24, 2021 10:43 AM EST

BRUSSELS (AP) — The massive spike in COVID-19 cases in recent weeks is threatening the European Union's recovery from the deep economic slump caused by last year's onset of the pandemic, the bloc's economy chief said Wednesday. And medical experts warned that the public...

Two Democratic senators oppose Powell as Fed chair

Nov. 19, 2021 12:04 PM EST

WASHINGTON (AP) — Two Democratic senators said Friday that they oppose the nomination of Jerome Powell to a second term as chair of the Federal Reserve, saying Powell has been insufficiently committed to fighting climate change, an issue that the world's central banks are increasingly...

Survey shows continued growth in rural economy in November

Nov. 18, 2021 13:12 PM EST

OMAHA, Neb. (AP) — The economy in rural parts of 10 Plains and Western states remains on the rise, but confidence in the economy’s future continues to drop, according to a new monthly survey of bankers in region released Thursday. The overall Rural Mainstreet economic...

Myanmar political standoff leaves economy in tatters

Nov. 14, 2021 22:11 PM EST

The military takeover in Myanmar has set its economy back years, if not decades, as political unrest and violence disrupt banking, trade and livelihoods and millions slide deeper into poverty. The Southeast Asian country was already in recession when the pandemic took...

South Carolina economy doesn't slow; state now has extra $1B

Nov. 11, 2021 10:58 AM EST

COLUMBIA, S.C. (AP) — The amount of money in South Carolina's state bank accounts continues to grow thanks to a quick recovery from the economic shock of the COVID-19 pandemic and people spending money much faster than experts predict. The latest estimate released...

The stock market is happy; the bond market is showing worry

Nov. 11, 2021 09:11 AM EST

NEW YORK (AP) — Things look great across most financial markets, with everything from stocks to Bitcoin near record highs. That’s not the case in the market often seen as the most steady and sober of them all: government bonds. In the bond market, yield can be thought...

EXPLAINER: Why US inflation is so high, and when it may ease

Nov. 11, 2021 08:45 AM EST

WASHINGTON (AP) — Inflation is starting to look like that unexpected — and unwanted — houseguest who just won’t leave. For months, many economists had sounded a reassuring message that a spike in consumer prices, something that had been missing in action in the...