Economic Growth

May 28, 2020 - 7:51 am
WASHINGTON (AP) — The U.S. economy shrank at an even faster pace than initially estimated in the first three months of this year with economists continuing to expect a far worse outcome in the current April-June quarter. The Commerce Department reported Thursday that the gross domestic product, the...
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A man stands in front of an electronic stock board showing Japan's Nikkei 225 index as a track goes by at a securities firm in Tokyo Friday, May 22, 2020. Shares are slipping in Asia as tensions flare between the U.S. and China and as more job losses add to the economic fallout from the coronavirus pandemic. (AP Photo/Eugene Hoshiko)
May 22, 2020 - 9:27 am
Stocks moved lower on Wall Street early Friday, adding to losses from a day earlier, as the market closed out a choppy week of trading ahead of a long holiday weekend in the U.S. The S&P 500 was down 0.4% in subdued trading, but was on track for a weekly gain. The selling was widespread, with...
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Delegates applaud as Chinese President Xi Jinping arrives for the opening session of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, Friday, May 22, 2020. (AP Photo/Ng Han Guan, Pool)
May 22, 2020 - 6:32 am
BEIJING (AP) — China’s No. 2 leader on Friday promised higher spending to revive its pandemic-stricken economy and curb surging job losses but avoided launching a massive stimulus on the scale of the United States or Japan. Premier Li Keqiang told lawmakers Beijing would set no economic growth...
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A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Thursday, May 21, 2020. Asian stock markets are mixed after Wall Street rose amid Chinese trade tension with Washington and Australia. Investors looked ahead to Friday’s meeting of China’s legislature for details of possible new steps by Beijing to stimulate its virus-battered economy.(AP Photo/Vincent Yu)
May 21, 2020 - 10:56 pm
BANGKOK (AP) — Shares slipped in Asia on Friday as tensions flared between the U.S. and China and as more job losses compounded the economic fallout from the coronavirus pandemic. Hong Kong’s benchmark led regional losses, dropping 3.9% to 23,332.78 after the central government in Beijing said...
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Zhang Youxia, vice chairman of China's Central Military Commission, attends the opening session of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, Friday, May 22, 2020. (AP Photo/Ng Han Guan, Pool)
May 21, 2020 - 9:37 pm
BEIJING (AP) — Thousands of delegates from across China are in Beijing for this year’s annual session of the country’s rubber-stamp legislature and its advisory body, meetings delayed by more than two months because of the coronavirus outbreak. The National People’s Congress session is more a...
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In this Wednesday, May 20, 2020, photo, Chinese paramilitary police stand guard near Tiananmen Square and the Great Hall of the People in Beijing. This year's version of China's biggest political meeting of the year will be unlike any other. Delayed from March because of the then-spiraling coronavirus outbreak, the decision to go ahead with the gathering signals a partial return to normalcy in the country where the pandemic first broke out. "Partial" being the operative word: The congress will be far from normal. (AP Photo/Mark Schiefelbein)
May 20, 2020 - 2:35 am
BEIJING (AP) — When China convenes its National People's Congress on Friday, will the 3,000 delegates stand shoulder to shoulder? Will they wear masks? This year's version of China's biggest political meeting of the year will be unlike any other. Delayed from March because of the then-spiraling...
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FILE - In this March 18, 2020, file photo, people are reflected on the electronic board of a securities firm in Tokyo. Japan's economic growth plunged into recession in the first quarter as the coronavirus pandemic squelched production, exports and spending, and fears are growing worse times may lie ahead, according to a report on Monday, May 18, 2020. (AP Photo/Koji Sasahara, File)
May 18, 2020 - 4:50 pm
WASHINGTON (AP) — The world economy likely faces a long slog back from the coronavirus crisis. Two reports out Monday predict that global growth will struggle to bounce back from the lockdowns, travel restrictions and business closures meant to contain the pandemic. IHS Markit said that it expects...
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Dermatologist Dr. Seemal Desai poses for a photo in an examination room in his office in Plano, Texas, Thursday, May 7, 2020. Desai uses the privacy of an examination room and a tablet computer to virtually visit with some of his patients. (AP Photo/Tony Gutierrez)
May 18, 2020 - 8:45 am
The global coronavirus pandemic has created a huge need for health care in the U.S., but it also is delivering a devastating financial blow to that sector. COVID-19 worries have kept patients away from doctors' offices and forced the postponement and cancellation of non-urgent surgeries. The...
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FILE - In this March 1, 2020, file photo, a department store employee with a mask dresses a mannequin in Tokyo. Japan's economic growth plunged into recession in the first quarter as the coronavirus pandemic squelched production, exports and spending, and fears are growing worse times may lie ahead, according to a report on Monday, May 18, 2020. (AP Photo/Jae C. Hong, File)
May 17, 2020 - 10:23 pm
TOKYO (AP) — Japan's economic growth plunged into recession in the first quarter as the coronavirus pandemic squelched production, exports and spending, and fears are growing that worse times may lie ahead. The Cabinet Office reported Monday a 3.4% drop in the annual pace of seasonally adjusted...
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FILE - In this April 13, 2020, file photo, a couple walks through the capital city's popular shopping mall in Beijing. Factory output rose in April as China’s virus-battered economy reopened but job losses depressed consumer spending, a key driver of growth, challenging the ruling Communist Party's push to revive normal activity. Investment in factories and other fixed assets also improved as businesses reopened after China’s deepest economic slump since at least the 1960s, official data showed Friday, May 15, 2020. (AP Photo/Andy Wong, File)
May 15, 2020 - 1:12 am
BEIJING (AP) — Factory output rose in April as China’s virus-battered economy reopened but job losses depressed consumer spending, a key driver of growth, challenging the ruling Communist Party's push to revive normal activity. Investment in factories and other fixed assets also improved as...
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