Economic growth

A woman wearing a face mask walks past a fashion shop in Hong Kong, Monday, March 30, 2020. The new coronavirus causes mild or moderate symptoms for most people, but for some, especially older adults and people with existing health problems, it can cause more severe illness or death. (AP Photo/Vincent Yu)
March 30, 2020 - 9:02 pm
WASHINGTON (AP) — The World Bank is estimating that the cornavirus outbreak will cause economic growth to slow significantly this year in China and other East Asian-Pacific countries, throwing millions into poverty. Under a worse-case scenario, the region could suffer its sharpest downturn since a...
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FILE - In this Tuesday, March 24, 2020 file photo, Gov. Andrew Cuomo speaks during a news conference against a backdrop of medical supplies at the Jacob Javits Center that will house a temporary hospital in response to the COVID-19 outbreak in New York. Cuomo, a Democrat, ripped the GOP-led Senate's version of the coronavirus package as "terrible" for New York and said, based on preliminary reports, that it would send the state some $4 billion in direct aid. (AP Photo/John Minchillo)
March 27, 2020 - 5:42 pm
The coronavirus is pounding state governments with a financial one-two punch, costing them millions to try to contain the disease just as businesses are shutting down and tax revenue is collapsing. The sharp drop in revenue could jeopardize some states' ability to provide basic services. States...
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March 26, 2020 - 8:47 am
WASHINGTON (AP) — The economy grew by a moderate 2.1% in the fourth quarter of last year, but many economists believe that will be the last positive growth seen for some time as the country endures a sharp contraction due to the impact of the coronavirus. The Commerce Department said Thursday in...
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A container and barriers block a backroad used by locals on the Netherlands border with Belgium between Chaam, southern Netherlands, and Meerle, northern Belgium, Monday, March 23, 2020. Both countries have come to a near standstill as their governments sought to prevent the further spread of coronavirus. For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia. (AP Photo/Peter Dejong)
March 25, 2020 - 12:51 pm
BRUSSELS (AP) — The European Union is taking unprecedented action to help member countries endure the massive economic shock of the virus outbreak, but some nations are resisting the idea of shared borrowing to cover the heavy costs - suggesting that even during this crisis there are limits to...
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President Donald Trump gestures as he asks a question to Dr. Deborah Birx, White House coronavirus response coordinator, during a briefing about the coronavirus in the James Brady Briefing Room, Monday, March 23, 2020, in Washington. (AP Photo/Alex Brandon)
AP News
March 24, 2020 - 6:34 am
WASHINGTON (AP) — As cases of coronavirus rise, President Donald Trump said that he wants to reopen the country for business in weeks, not months, and claimed, without evidence, that continued closures could result in more deaths than the pandemic itself. "We can’t have the cure be worse than the...
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FILE - In this March 2, 2020, file photo President Donald Trump speaks during a campaign rally at Bojangles Coliseum in Charlotte, N.C. For the next seven months, Trump may be consigned to campaigning in a country beset by a fear of job loss, bankruptcy and disease. It will require a remarkable pivot for the president, who has relentlessly cheered the stock market's rise and the economy's strength as the central predicate for a second term. (AP Photo/Evan Vucci, File)
March 22, 2020 - 7:57 am
BALTIMORE (AP) — The coronavirus has flung the U.S. economy into a dangerous tailspin, and President Donald Trump's reelection hopes are caught in the sudden whirlwind. For the next seven months, Trump may be consigned to campaigning in a country beset by a fear of job loss, bankruptcy and disease...
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FILE - In this May 8, 2019, file photo, New Zealand's Reserve Bank Governor Adrian Orr speaks to the media in Wellington, New Zealand. New Zealand's central bank on Monday, March 16, 2020 cut the benchmark interest rate to a record low 0.25%. The cut of 0.75% came outside of the bank's normal schedule for changing rates. The Reserve Bank of New Zealand said in a statement that the negative impact of the pandemic on the New Zealand economy will be significant. For most people, the new coronavirus causes only mild or moderate symptoms. For some, it can cause more severe illness, especially in older adults and people with existing health problems. (AP Photo Nick Perry, File)
March 16, 2020 - 10:56 pm
WELLINGTON, New Zealand (AP) — New Zealand's government said Tuesday it would spend billions of dollars supporting hard-hit companies as it tries to shore up an economy headed for recession because of the coronavirus. The stimulus package is equivalent to 4% of GDP. A large chunk of the new...
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A woman wearing face mask walks past a bank electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, March 16, 2020. Asian stock markets and U.S. futures fell Monday after the Federal Reserve slashed its key interest rate to shore up economic growth in the face of mounting global anti-virus controls that are shutting down business and travel. (AP Photo/Vincent Yu)
AP News
March 16, 2020 - 8:51 am
BEIJING (AP) — Global stocks fell sharply Monday after central bank moves to shore up economic growth failed to dispel investor's fears over virus controls that are shutting down global business and travel. There were no glimmers of optimism: European and Asian stock indexes were down as much as 10...
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In this Tuesday, March 10, 2020, security guards patrolling the quiet Wangfujing shopping, a usually popular tourist spot before the new coronavirus outbreak in Beijing. China's consumer spending and other business activity fell even more than expected in January and February due to its virus outbreak, adding to the ruling Communist Party's challenges as it tries to revive the world's second-largest economy. (AP Photo/Andy Wong)
March 16, 2020 - 3:52 am
BEIJING (AP) — China’s consumer spending and factory activity fell more than expected in January and February as it fought a virus outbreak, prompting some forecasters to warn this year’s economic growth might slump to its lowest level since the 1970s. Retail sales fell 20.5% from a year ago after...
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FILE - In this Friday, March 13, 2020, file photo, a trader walks on the floor of the New York Stock Exchange during President Donald Trump's televised speech from the White House, in New York. Stock markets are set for another week of turbulent trading as U.S. index futures fell sharply after the Federal Reserve slashed interest rates and more companies and governments took action over the weekend to shut down European and American society. (AP Photo/Mark Lennihan, File)
March 15, 2020 - 11:21 pm
BEIJING (AP) — Asian stock markets and U.S. futures fell Monday after the Federal Reserve slashed its key interest rate to shore up economic growth in the face of mounting global anti-virus controls that are shutting down business and travel. Sydney's benchmark plunged 7% and Hong Kong's Hang Seng...
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