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Trump was poised to inherit a strong economy. Then things got rocky and he added to the uncertainty
WEST PALM BEACH, Fla. (AP) — The smooth economy that Donald Trump was poised to inherit suddenly looks a bit rockier — with critics saying the president-elect is contributing to the uncertainty.
U.S. economy grows at 3.1% pace in third quarter, an upgrade from previous estimate
WASHINGTON (AP) — The American economy grew at a healthy 3.1% annual clip from July through September, propelled by vigorous consumer spending and an uptick in exports, the government said in an upgrade to its previous estimate.
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China's economy logs a lackluster performance in November as retail sales slow
BANGKOK (AP) — China’s economy logged a mixed performance in November, the monthly government update said Monday, with retail sales slowing as consumers held back on spending on non-essentials like cosmetics, alcohol and clothing.
Japan business survey shows slight improvement in outlook for manufacturers
BANGKOK (AP) — A quarterly survey by Japan’s central bank shows business sentiment has improved slightly, especially in major heavy industries such as automaking, fossil fuels and machinery, while services industries were less upbeat.
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Bank of Canada cuts interest rate by half a percentage point, highlights risk of Trump's tariffs
TORONTO (AP) — Canada’s central bank lowered its key interest rate by half a percentage point on Wednesday and called President-elect Donald Trump's threat to impose sweeping new tariffs on Canada “a major source of new uncertainty.”
Biden says he was 'stupid' not to put his name on pandemic relief checks like Trump did
WASHINGTON (AP) — President said Tuesday he was “stupid” not to put his own name on pandemic relief checks in 2021, noting that had and likely got credit for helping people out through this simple, effective act of branding.
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China fine-tunes economic stimulus as it braces for new US administration
BANGKOK (AP) — China is fine-tuning policies to rev up its economy as it braces for uncertain relations with the United States under President-elect giving manufacturers a 20% made-in-China price advantage in sales to the Chinese government.
Wall Street parties like it's 1998 as AI fuels gains unmatched since dot-com era
NEW YORK (AP) — The S&P 500 is on track to close 2024 with a gain of nearly 27%, after setting 50 record highs this year. That's on top of its 24.2% spurt the year before, a spectacular two-year run unmatched since the dot-com boom.
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Avocados, tequila and other iconic Mexican products are jeopardized by Trump's tariff threats
URUAPAN, Mexico (AP) — Mexicans are worried that could affect a wide range of iconic Mexican products and threaten entire regional economies.
Trump's tariffs in his first term did little to alter the economy, but this time could be different
WASHINGTON (AP) — Donald Trump loved to use tariffs on foreign goods during his first presidency. But their impact was barely noticeable in the overall economy, even if their aftershocks were clear in specific industries.
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US consumer confidence ticks higher on better outlook for hiring
WASHINGTON (AP) — Americans’ outlook on the economy improved modestly in November, lifted by expectations for lower inflation and more hiring.
Federal Reserve's likely slowdown in rate cuts could disappoint borrowers
WASHINGTON (AP) — Just a few weeks ago, the path ahead for the Federal Reserve looked straightforward: With inflation cooling and the job market slowing, the Fed appeared on track to steadily cut interest rates.
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Japan's economy grows for a second straight quarter on the back of consumer spending
TOKYO (AP) — Japan’s economy eked out an annual rate of 0.9% growth in the July-September period as consumer spending held up, government data showed Friday.
The average rate on a 30-year mortgage in the US slips to 6.78%
The average rate on a 30-year mortgage in the U.S. edged lower this week, ending a six-week climb.
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Frustrated Americans await the economic changes they voted for with Trump
WASHINGTON (AP) — Fed up with high prices and unimpressed with an economy that by just about any measure is a , Americans demanded change when they voted for president.
China to unveil much-anticipated economic stimulus package
BEIJING (AP) — China is expected to announce much-anticipated steps to boost Friday at the end of this week's meeting of its legislature.
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Federal Reserve is set to cut rates again while facing a hazy post-election outlook
WASHINGTON (AP) — No one knows how Tuesday's presidential election will turn out, but the Federal Reserve's move two days later is much easier to predict: With inflation , the Fed is set to cut interest rates for a this year.
Average rate on a 30-year mortgage in the US rises for fifth straight week
The average rate on a 30-year mortgage in the U.S. rose for the fifth straight week, returning to its highest level since early August.
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IMF chief warns that world risks falling into slow-growth rut and urges China to enact reforms
WASHINGTON (AP) — The world economy, buffeted by and , is in danger of getting stuck in a slow-growth, high-debt rut, the head of the International Monetary Fund warned Thursday. She also urged Chinese leaders to take more decisive action to jump-start their or risk seeing economic growth plummet.
Stock market today: Asian shares fall after Wall Street pulls back from its records
TOKYO (AP) — Asian shares outside of China declined in cautious trading Tuesday ahead of earnings reports both in the region and overseas, after Wall Street’s long, record-breaking rally ran out of steam.
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Stock market today: Asian shares gain as China releases plan for market support
BANGKOK (AP) — Asian shares have mostly gained after China’s central bank released plans for supporting the stock market through share repurchases by companies and major shareholders.
Japan records trade deficit on weak yen, slowing exports
TOKYO (AP) — Japan racked up a trade deficit of 294.3 billion yen ($2 billion) in September, according to Finance Ministry data released Thursday, as exports fell to key destinations like China.
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South Korea's central bank raises rates in a bid to boost the economy
SEOUL, South Korea (AP) — South Korea’s central bank on Friday cut its policy rate for the first time in more than four years as pressure to revive a sluggish economy outweighed concerns about the country’s level of household debt.
China announces more support for economy but holds back on major spending package
HONG KONG (AP) — China’s economic planning agency outlined details of measures aimed at boosting the economy on Tuesday but refrained from major spending initiatives.
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China factory surveys show economy weakening, as Beijing steps up support
China's economy weakened further in recent weeks, surveys released Monday showed, signaling the need for support as the government ratchets up stimulus.
Richmond Fed president urges caution on interest rate cuts because inflation isn't defeated
WASHINGTON (AP) — The president of the Federal Reserve's Richmond branch says he supports reducing the central bank's key interest rate “somewhat” from its current level but isn't yet ready for the Fed to fully take its foot off the economy's brakes.
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