BERLIN (AP) — The German economy shrank unexpectedly in the first three months of this year, marking the second quarter of contraction that is one definition of recession.
WASHINGTON (AP) — The U.S. economy grew at a lackluster 1.3% annual rate from January through March as businesses wary of an economic slowdown trimmed their inventories, the government said Thursday in a slight upgrade from its initial estimate.
WASHINGTON (AP) — If the debt crisis roiling Washington were eventually to send the United States crashing into recession, America's economy would hardly sink alone.
The repercussions of a first-ever default on the federal debt would quickly reverberate around the world.
Japan’s economy rebounds on healthy consumption as COVID restrictions ease, tourists arriveMay 17, 2023 GMT
TOKYO (AP) — Japan’s economy grew at an annual pace of 1.6% in the quarter through March as private demand rebounded after COVID-19-related restrictions were eased, according to data released Wednesday.
G7 finance ministers to vow support for Ukraine, seek ways to spur global economy as debt risks loomMay 11, 2023 GMT
NIIGATA, Japan (AP) — Financial leaders of the Group of Seven advanced economies are discussing ways to support Ukraine and pressure Russia to end the war as they meet in Japan starting Thursday.
Ukraine's finance minister, Serhiy Marchenko, was participating online in the first session of the G-7 talks in Niigata, a port city on the Japan Sea coast.
Stock market today: Asia shares gain, tracking Wall St rallyApril 28, 2023 GMT
Shares advanced in Asia on Friday after Wall Street rallied to its best day since January.
Gains in Asian markets were more modest as traders waited to see what the Bank of Japan would do in its first policy meeting since Kazuo Ueda took the helm.
US economy grew at weak 1.1% rate in Q1 in sign of slowdownApril 27, 2023 GMT
WASHINGTON (AP) — The U.S. economy slowed sharply from January through March, decelerating to just a 1.1% annual pace as higher interest rates hammered the housing market and businesses reduced their inventories.
How will we know if the US economy is in a recession?April 27, 2023 GMT
WASHINGTON (AP) — The government’s report Thursday that the economy grew at a 1.1% annual rate last quarter signaled that one of the most-anticipated recessions in recent U.S.
Stock market today: Asian stocks dip on economy worriesApril 26, 2023 GMT
TOKYO (AP) — Asian shares were mostly lower Wednesday as worries about the health of global economies grew after a tumble on Wall Street, despite some better-than-expected earnings reports.
Tokyo, Sydney, Seoul and Shanghai declined while Hong Kong gained in early trading.
China boosts German business optimism, but challenges aheadApril 24, 2023 GMT
FRANKFURT, Germany (AP) — A key measure of German business optimism rose in April for the seventh month in a row amid lower natural gas prices and the reopening of the Chinese economy after COVID-19 restrictions.
Unemployment fell to 3.5% under Biden. For how much longer?April 8, 2023 GMT
WASHINGTON (AP) — President Joe Biden keeps seeing good economic news and bad public approval ratings.
Asian shares mostly fall amid worries about slowing economyApril 6, 2023 GMT
TOKYO (AP) — Asian shares were trading mostly lower Thursday as investors turned their attention to upcoming earnings reports and other economic indicators.
Japan's benchmark Nikkei 225 shed 1.1% in morning trading to 27,507.65.
Asian shares mixed after Wall St dips on weak economic dataApril 5, 2023 GMT
TOKYO (AP) — Asian shares were trading mixed Wednesday following a decline on Wall Street after reports on the U.S. economy came in weaker than expected.
Japan's benchmark Nikkei 225 lost 1.7% in afternoon trading to 27,808.75.
Insider Q&A-Benn Steil of the Council on Foreign RelationsApril 3, 2023 GMT
WASHINGTON (AP) — Over the past year, the world economy has withstood the combined shocks of high interest rates and a war in Ukraine better than just about anyone expected.
The International Monetary Fund, among other agencies, has upgraded its economic forecast for 2022.
US revises down last quarter’s economic growth to 2.6% rateMarch 30, 2023 GMT
WASHINGTON (AP) — The U.S. economy maintained its resilience from October through December despite rising interest rates, growing at a 2.6% annual pace, the government said Thursday in a slight downgrade from its previous estimate.
Vietnam economy slows on rising costs, weaker exportsMarch 29, 2023 GMT
HANOI, Vietnam (AP) — Vietnam's economy slowed sharply in the first quarter of this year, with growth coming in at a much weaker than expected 3.3%, as its exporters were hit by rising costs and weaker demand, the General Statistics Office reported Wednesday.
Japan revises GDP to nearly flat, showing fragile recoveryMarch 9, 2023 GMT
TOKYO (AP) — Japan’s economy grew at an annual pace of 0.1% in October-December, in a downgrade from an earlier 0.6% increase, showing how the world’s third-largest economy was barely eking out growth.
US economy sending mixed signals: Here’s what it all meansMarch 7, 2023 GMT
WASHINGTON (AP) — Maybe it was just too good to be true.
For a few weeks in late January and early February, the U.S. economy seemed to have reached a rare sweet spot.
Governor launches supply chain initiative for KentuckyMarch 6, 2023 GMT
FRANKFORT, Ky. (AP) — Gov. Andy Beshear launched a supply chain initiative Monday aimed at creating a more interconnected Kentucky economy by matching the state's manufacturers and suppliers.
The goal of “Supply Kentucky” is to bolster job growth, reduce manufacturing costs and create more secure supply chains, the Democratic governor said.
Lebanon leans on US dollar to cope as currency, economy tankMarch 6, 2023 GMT
BEIRUT (AP) — When Moheidein Bazazo opened his Beirut mini-market in 1986, during some of the fiercest fighting in Lebanon’s civil war, he didn't expect it to thrive. But several years later, he had shelves full of food and needed 12 employees to help him manage a bustling business.
Inflation pressures put Powell in spotlight before CongressMarch 6, 2023 GMT
WASHINGTON (AP) — When Federal Reserve Chair Jerome Powell last appeared before Congress, in June 2022, inflation had reached a four-decade high of nearly 9% and showed no sign of easing.
Chinese planners promise 12 million jobs, economic reboundMarch 6, 2023 GMT
BEIJING (AP) — Chinese economic officials expressed confidence Monday they can meet this year’s growth target of “around 5%” by generating 12 million new jobs and encouraging consumer spending following the end of anti-virus controls that kept millions of people at home.
China sets this year’s economic growth target at ‘around 5%’March 5, 2023 GMT
BEIJING (AP) — China’s government announced plans for a consumer-led revival of the struggling economy as its legislature opened a session Sunday that will tighten President Xi Jinping’s control over business and society.
Brazil’s 4Q22 GDP contraction signals challenge for LulaMarch 2, 2023 GMT
BRASILIA, Brazil (AP) — Brazil’s economy contracted last quarter for the first time in over a year, government data showed Thursday, in a downturn expected to complicate President Luiz Inácio Lula da Silva’s first year in office.
China looks to consumers to drive economic reboundMarch 2, 2023 GMT
BEIJING (AP) — Chinese leader Xi Jinping’s agenda for the annual meeting of the ceremonial legislature: Revive the economy by encouraging consumers to spend more now that severe anti-virus controls have ended, and install a government of loyalists to intensify Communist Party control over the economy and society.
In Egypt, government and poor struggle with troubled economyMarch 1, 2023 GMT
CAIRO (AP) — A group of women stands in front of a vegetable vendor at a street market in one of Cairo's oldest neighborhoods, yelling in frustration.
Asian shares, oil advance on strong China factory dataMarch 1, 2023 GMT
TOKYO (AP) — Asian shares were higher Wednesday after reports on key measures of China manufacturing showed a strong recovery after anti-virus controls were lifted late last year.
Consumer confidence slips again in FebruaryFebruary 28, 2023 GMT
WASHINGTON (AP) — Consumer confidence dipped for the second straight month as stubborn inflation and anxiety over a potentially slowing economy weighed on Americans.
The Conference Board reported Tuesday that its consumer confidence index slipped to 102.9 in February, from a reading of 106 in January.
US economy sending mixed signals: Here’s what it all meansFebruary 28, 2023 GMT
WASHINGTON (AP) — Maybe it was just too good to be true.
For a few weeks in late January and early February, the U.S. economy seemed to have reached a rare sweet spot.
Asian shares edge higher after slight gains on Wall StreetFebruary 28, 2023 GMT
BANGKOK (AP) — Shares climbed in Asia on Tuesday after Wall Street benchmarks clawed back some losses from their worst week since early December.
2023 US recession now expected to start later than predictedFebruary 27, 2023 GMT
WASHINGTON (AP) — A majority of the nation’s business economists expect a U.S. recession to begin later this year than they had previously forecast, after a series of reports have pointed to a surprisingly resilient economy despite steadily higher interest rates.
Fleeing Nicaraguans a boon to economy back homeFebruary 26, 2023 GMT
MEXICO CITY (AP) — Each month, Antón Martínez, 38, sets aside $200 from his wages as a dishwasher in the United States to send home to his mother in Nicaragua.
Martínez wishes it could be more, but he’s still trying to find his footing in the new country and pay off the debt of his migration.
Stocks drop, send Wall Street to its worst week of the yearFebruary 24, 2023 GMT
NEW YORK (AP) — Another cold reminder that inflation remains hotter than hoped sent Wall Street skidding Friday, and stocks closed out their worst week since early December.
The S&P 500 fell 1.1% to cap its third straight weekly loss.
German economy shrank by 0.4% in Q4, worse than 1st reportedFebruary 24, 2023 GMT
BERLIN (AP) — The German economy shrank by 0.4% in last year's fourth quarter, the national statistics office said Friday, a sharp downward revision from its initial report that gross domestic product declined by 0.2%.
Netanyahu gets funding boost under shadow of economic woesFebruary 23, 2023 GMT
TEL AVIV, Israel (AP) — An Israeli parliamentary committee on Thursday approved new funding for Benjamin Netanyahu and his family, giving the prime minister a boost in personal spending at a time when he is facing mass protests over his policies and as the economy is on shaky ground.
China’s global influence worries U.S. majority: AP-NORC pollFebruary 23, 2023 GMT
WASHINGTON (AP) — Just 40% of U.S. adults approve of how President Joe Biden is handling relations with China, a new poll shows, with a majority anxious about Beijing's influence as the White House finds its agenda increasingly shaped by global rivalries.
US revises down last quarter’s economic growth to 2.7% rateFebruary 23, 2023 GMT
WASHINGTON (AP) — The U.S. economy expanded at a 2.7% annual rate from October through December, a solid showing despite rising interest rates and elevated inflation, the government said Thursday in a downgrade from its initial estimate.
G-20 finance chiefs to tackle global economic threatsFebruary 22, 2023 GMT
BENGALURU, India (AP) — Top financial leaders from the Group of 20 leading economies are gathering in the south Indian technology hub of Bengaluru this week to tackle myriad challenges to global growth and stability, including stubbornly high inflation and surging debt.
German business confidence improves for 4th straight monthFebruary 22, 2023 GMT
BERLIN (AP) — German business confidence has strengthened for a fourth consecutive month as managers look past current problems to take a more optimistic view of the months ahead, a closely watched survey showed Wednesday.
Asian shares decline following Wall Street tumbleFebruary 22, 2023 GMT
TOKYO (AP) — Asian shares declined Wednesday after stocks tumbled on Wall Street as worries persist about higher interest rates and their tightening squeeze on the global economy.
Tokyo's benchmark Nikkei 225 dipped 1.4% in morning trading to 27,100.51.
Saudi Arabia deposits $1 billion into Yemen’s central bankFebruary 21, 2023 GMT
SANAA, Yemen (AP) — Saudi Arabia deposited $1 billion into the central bank of Yemen’s internationally recognized government Tuesday in a bid to bolster the country’s ailing economy, state media said.
Nigerian cash crisis brings pain: ‘Everything is just tough’February 18, 2023 GMT
ABUJA, Nigeria (AP) — No one in Godgift Inemesit’s family of eight is sure when they will eat each day — except for her three kids, two of whom have malaria. She can't pay for the drugs they need or feed the rest of her family regularly.
Wall Street closes another bumpy week with a mixed finishFebruary 17, 2023 GMT
NEW YORK (AP) — Wall Street closed another bumpy week with a mixed performance on Friday amid worries that inflation is not cooling as quickly or as smoothly as hoped.
The S&P fell 0.3% after paring a bigger loss from the morning.
Asian shares skid after inflation report thumps Wall StreetFebruary 17, 2023 GMT
BANGKOK (AP) — Shares slipped in Asia on Friday after benchmarks on Wall Street had their biggest drop in four weeks as investors registered disappointment over an inflation reading that came in hotter than expected.
How major US stock indexes fared Thursday 2/16/2023February 16, 2023 GMT
Stocks fell on Wall Street, posting their biggest drop in four weeks, after another reading on inflation came in hotter than expected.
The S&P 500 fell 1.4% Thursday after inflation at the wholesale level slowed by less than economists forecast last month.
Wholesale price pressures emerge despite long-term slowdownFebruary 16, 2023 GMT
WASHINGTON (AP) — Wholesale prices in the United States reaccelerated in January, indicating that inflation pressures continue to underlie the U.S. economy despite longer-term signs of improvement.
Asian shares jump boosted by a strong reading on US retailFebruary 16, 2023 GMT
TOKYO (AP) — Asian shares edged higher Thursday, cheered by a stronger than expected reading on U.S. retail sales that set off a rally on Wall Street.
In the latest data on the regional economy, Japan's trade deficit reached a record 3.497 trillion yen ($26.2 billion) in January.
CBO projects higher unemployment, slow exit from inflationFebruary 16, 2023 GMT
WASHINGTON (AP) — The Congressional Budget Office said Wednesday that it expects the U.S. economy to stagnate this year with the unemployment rate jumping to 5.1% — a bleak outlook that was paired with a 10-year projection that publicly held U.S.
US inflation slows to 6.4%, but price pressures re-emergeFebruary 14, 2023 GMT
WASHINGTON (AP) — The pace of consumer price increases eased again in January compared with a year earlier, the latest sign that the high inflation that has gripped Americans for nearly two years is slowly easing.
Scholar nominated to follow Kuroda as Bank of Japan chiefFebruary 14, 2023 GMT
TOKYO (AP) — An economist was nominated Tuesday to head Japan's central bank and take on the daunting task of guiding the world's third-largest economy to stronger, stable growth.
The government's choice of Kazuo Ueda, who earlier served on the central bank's policy board, to succeed Haruhiko Kuroda came as a surprise to many when it was leaked to Japanese media last week.
Japan manages growth in final quarter as tourism returnsFebruary 14, 2023 GMT
TOKYO (AP) — The Japanese economy grew at an annual pace of 0.6% in October-December, the government reported Tuesday, managing to eke out growth after a contraction in the previous quarter.
The world’s third-largest economy has struggled amid restrictions related to the coronavirus pandemic, a shortage of imported parts from China and rising prices — especially energy — worsened by inflationary pressures and the war in Ukraine.
EU foresees economy improving, but inflation still painfulFebruary 13, 2023 GMT
FRANKFURT, Germany (AP) — The European Union's executive branch has raised its economic growth forecast for the year, saying Europe will narrowly avoid a recession and has already passed its inflation peak as natural gas prices fall from astronomical highs.
Wall Street’s tough week eases at the end as stocks driftFebruary 10, 2023 GMT
NEW YORK (AP) — The toughest week for Wall Street in nearly two months came to a quiet end on Friday, as stock indexes drifted to a mixed finish.
The S&P 500 rose 0.2%, but it still ended the week with a drop of 1.1%, which was its worst since December.
UK economy avoids decline but cost of living pains manyFebruary 10, 2023 GMT
LONDON (AP) — The small notice pinned to a wall at Union Chapel in north London is a sign of despair for charity workers dealing with the fallout from Britain’s cost-of-living crisis.
Russia’s revenue falls sharply in January from year earlierFebruary 6, 2023 GMT
MOSCOW (AP) — Russia's finance ministry said Monday that budget revenue in January was 35% lower compared with the same month in 2022, the last month before Russia sent troops into Ukraine.
The ministry also said the budget deficit for January was 1.77 trillion rubles ($23.9 billion), about 60% of the shortfall that had been planned for the entire year.
It wasn’t me: Ex-UK PM Truss blames ‘system’ for her failureFebruary 5, 2023 GMT
LONDON (AP) — Former British Prime Minister Liz Truss says her failure wasn't her fault.
State of the Union: Biden sees economic glow, GOP sees gloomFebruary 4, 2023 GMT
WASHINGTON (AP) — Going into Tuesday's State of the Union address, President Joe Biden sees a nation with its future aglow.
Bank of England rate hike says ‘too soon to declare victory’February 2, 2023 GMT
LONDON (AP) — The Bank of England announced another “forceful” increase in interest rates Thursday, saying it was too soon to declare victory against inflation that has slowed slightly but is still fueling a cost-of-living crisis, public-sector strikes and fears of recession.