WASHINGTON (AP) — Despite high interest rates and chronic inflation, the U.S. economy grew at a 2.9% annual rate from July through September, the government said Wednesday in a healthy upgrade from its initial estimate.
ABUJA, Nigeria (AP) — Nigeria on Wednesday launched newly designed currency notes, a move that the West African nation's central bank says will help curb inflation and money laundering.
ATHENS, Greece (AP) — Greece’s economy is projected to grow by 1.8% next year, according to the country’s 2023 budget, slightly lower than the figures predicted last month as higher energy costs and inflation take a toll.
FRANKFURT, Germany (AP) — The European Union's executive commission slashed its forecast for economic growth next year, saying the 19 countries that use the euro currency will slide into recession over the winter as peak inflation hangs on for longer than expected and high fuel and heating costs erode consumer purchasing power.
BEIJING (AP) — Chinese health officials gave no indication Saturday of any relaxation of COVID-19 restrictions, following several days of speculation that the government was considering changes to a “zero-COVID” approach that has stymied economic growth and disrupted daily life.
WASHINGTON (AP) — President Joe Biden has notched an envious record on jobs, with 10.3 million gained during his tenure. But voters in Tuesday's midterm elections are far more focused on inflation hovering near 40-year highs.
FRANKFURT, Germany (AP) — Inflation hit a new record in the 19 countries that use the euro currency, fueled by out-of-control prices for natural gas and electricity due to Russia's war in Ukraine.
DUBAI, United Arab Emirates (AP) — The economies of Middle Eastern and North African countries were resilient this year, but double-digit inflation is expected to slow growth in 2023, the International Monetary Fund said Monday.
BEIJING (AP) — Chinese manufacturing weakened in October, an official survey showed Monday, adding to downward pressure on the economy as the ruling Communist Party tries to reverse a slowdown.
A monthly purchasing managers’ index declined to 49.2 from September’s 50.1 on a 100-point scale where numbers below 50 indicate activity contracting, according to the government statistics bureau and an official industry group.
BEIJING (AP) — China's economic growth picked up in the latest quarter but still was among the weakest in decades as the ruling Communist Party tries to reverse a slump while enforcing anti-virus controls and a crackdown on debt in its vast real estate industry.
BEIJING (AP) — China's economic growth accelerated in the latest quarter but still was among the weakest in decades as the ruling Communist Party tries to reverse a downturn while enforcing anti-virus controls and a crackdown on debt in its vast real estate industry.
BEIJING (AP) — China's export growth weakened in September as global consumer demand cooled while imports rebounded from a contraction after Chinese economic growth improved.
Exports rose 5.7% over a year earlier to $322.8 billion, down from August's 7% growth, official data showed Monday.
BEIJING (AP) — China plans to boost coal production through 2025 to avoid a repeat of last year’s power shortages, an official said Monday, adding to setbacks in efforts to cut climate-changing carbon emissions from the biggest global source.
LONDON (AP) — Britain’s Treasury chief on Thursday rejected suggestions that the Conservative government would reverse course on economic plans that have roiled financial markets even after Prime Minister Liz Truss faced widespread criticism from her own lawmakers during a closed-door meeting.
ABUJA, Nigeria (AP) — Nigerian President Muhammadu Buhari is launching an ambitious plan to grow the West African nation's economy and end its security woes with record government expenditure during the next fiscal year.
WASHINGTON (AP) — Two principal economists painted very different pictures Thursday of what the global economy will look like in the coming years.
Kristalina Georgieva, managing director of the International Monetary Fund, told an audience at Georgetown University on Thursday that the IMF is once again lowering its projections for global economic growth in 2023, projecting world economic growth lower by $4 trillion through 2026.
BEIJING (AP) — Growth in Chinese factory activity was weak in September, export orders fell and employers cut jobs, two surveys showed Friday, adding to pressure on lackluster economic growth.
A monthly purchasing managers’ index released by business news magazine Caixin fell to 48.1 from August’s 49.5 on a 100-point scale in which readings below 50 indicate activity contracting.
NEW DELHI (AP) — India’s central bank on Friday raised its key interest rate by 50 basis points to 5.90% in its fourth hike this year and said developing economies were facing challenges of slowing growth, elevated food and energy prices, debt distress and currency depreciation.
FRANKFURT, Germany (AP) — The head of the European Central Bank said Monday that the economic outlook “is darkening” and she expects business activity to “slow substantially” in the coming months as high energy and food prices pushed up by the war in Ukraine sap consumer spending power.
PARIS (AP) — Russia's war in Ukraine and the lingering effects of the COVID-19 pandemic are dragging down global economic growth more than expected and driving up inflation that will stay high into next year, the Organization for Economic Cooperation and Development said Monday in a darkening outlook.
LONDON (AP) — The United Kingdom's new government outlined plans Friday to cut taxes and boost spending in an effort to bolster the faltering economy, but the high-risk moves sparked concerns that increased public borrowing will worsen a cost-of-living crisis and sent the British pound on its biggest one-day drop in 2 1/2 years.
BEIJING (AP) — Asian stocks fell for a third day Friday after more rate hikes by the Federal Reserve and other central banks to control persistent inflation spurred fears of a possible global recession.
NEW YORK (AP) — U.K. Prime Minister Liz Truss said Tuesday that she’s ready to make “unpopular decisions” such as boosting bonuses for wealthy bankers in order to get the country's sluggish economy growing.
BEIJING (AP) — Chinese consumer spending and factory output edged up in August but still were weak, official data showed Friday, and forecasters warned the second-largest economy is vulnerable to repeated shutdowns of cities to fight virus outbreaks.
WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell again last week to a four-month low even as the Federal Reserve continues its aggressive interest rate cuts to bring inflation under control.
WASHINGTON (AP) — The number of Americans filing for unemployment benefits last week fell to its lowest level since May despite repeated attempts by the Federal Reserve to cool the economy and bring inflation under control.
WASHINGTON (AP) — The Federal Reserve will need to continue lifting its short-term interest rate to a level that restricts economic growth and keep it there for an extended period, a top Fed official said Wednesday.
BEIJING (AP) — Asian stock markets were mixed Tuesday after China promised to speed up the rollout of policy changes to boost anemic economic growth and Australia's central bank raised its benchmark interest rate.
BEIJING (AP) — Asian stock markets were mixed Tuesday after China promised to speed up the rollout of policy changes to boost anemic economic growth.
Shanghai gained while Hong Kong declined. Tokyo and South Korea were unchanged at midday.
WASHINGTON (AP) — The nation's job market last month delivered what the Federal Reserve and nervous investors had been hoping for: A Goldilocks-style hiring report.
KUALA LUMPUR, Malaysia (AP) — Subramaniam Harihar, a longtime journalist in Malaysia who covered the country's period of extraordinary economic growth for The Associated Press, has died at age 79.
Subramaniam used the byline Hari Subramaniam for his AP stories and was known as Maniam to his friends.
BERLIN (AP) — The author of an influential report 50 years ago challenging the idea of unlimited economic growth said Tuesday that rising inequality coupled with climate change could lead to social collapse in some countries unless wholesale changes are made — paid for by the world's richest nations.
BEIJING (AP) — Chinese manufacturing contracted in August amid weak export and consumer demand, a survey showed Wednesday, adding to downward pressure on the struggling economy.
A monthly index improved to 49.4 from July’s 49 on a 100-point scale but still was below the 50-point mark that shows activity contracting, according to the national statistics agency and an industry group.
WASHINGTON (AP) — Average long-term U.S. mortgage rates rose this week as inflation worries remained at the fore and the slowdown in economic growth weighs on the housing market.
Mortgage buyer Freddie Mac reported Thursday that the 30-year rate increased to 5.55% from 5.13% last week.
BEIJING (AP) — Asian stock markets were mixed Friday after Wall Street rose as investors analyzed conflicting economic signals ahead of a Federal Reserve conference next week.
Shanghai and Seoul declined while Tokyo and Hong Kong advanced.
BEIJING (AP) — Asian stock markets followed Wall Street lower Thursday after the Federal Reserve said U.S. inflation is too high, suggesting support for more aggressive interest rate hikes.
TOKYO (AP) — Asian shares were mostly higher Wednesday as regional markets looked to strong economic signs out of the U.S. and China as drivers of growth.
Benchmarks rose in morning trading in Japan, China and Australia, although shares dipped slightly in South Korea.
Starbucks asks labor board to halt union votes temporarily
SEATTLE (AP) — Starbucks is asking the National Labor Relations Board to suspend all union elections at its U.S. stores. The request came Monday in response to a board employee’s allegations that regional NLRB officials improperly coordinated with union organizers.
BEIJING (AP) — China’s central bank trimmed a key interest rate Monday to shore up sagging economic growth at a politically sensitive time when President Xi Jinping is trying to extend his hold on power.
MEXICO CITY (AP) — Mexico’s economy grew by 1% in the second quarter, Mexico’s national statistics agency said Friday.
Economic growth for the first half of 2022 now amounts to 1.9%,after an expansion of 0.9% in the first three months of the year.
CANBERRA, Australia (AP) — Australia’s runaway inflation is forecast to remain too high for the next two years and economic growth will slow without falling into recession, the government’s treasurer said on Thursday.
The Congressional Budget Office said Wednesday that the end of pandemic-era spending, fast economic growth and higher tax revenues have caused the federal debt this year to be lower than forecast.
BANGKOK (AP) — Army-ruled Myanmar’s economy remains fragile as civil strife, inflation and onerous policy decisions add to troubles facing farmers and businesses, reports by the World Bank and other experts said Thursday.
BRUSSELS (AP) — Russia's war in Ukraine is expected to wreak havoc with the European Union's economic recovery for the foreseeable future with lower annual growth and record-high inflation, the bloc's economic forecast showed Thursday.
BEIJING (AP) — Asian stock markets rose Thursday despite a record-setting U.S. inflation report that pointed to more possible interest rate hikes that investors worry will chill economic growth.
LONDON (AP) — Britain’s economy showed unexpectedly strong growth in May, with the three major components of production— manufacturing, construction and services — all posting gains.
The Office for National Statistics said Wednesday that gross domestic product expanded 0.5% in the month, compared with economic forecasts of about 0.1%.
BEIJING (AP) — Asian stock markets rose Wednesday as investors waited for U.S. inflation data some worry might lead to more interest rate hikes.
Shanghai, Tokyo, Hong Kong and Seoul rose. Sydney declined.
BEIJING (AP) — Asian stock markets followed Wall Street higher Friday after two Federal Reserve officials said the U.S. economy might avoid a recession and news reports said China might boost construction spending to stimulate its struggling economy.
BISMARCK, N.D. (AP) — North Dakota continues to show signs of economic growth.
State officials say taxable sales and purchases for the first quarter of 2022 were up 13.2% compared to the same period last year.