Economy

FILE - Kristalina Georgieva, Managing Director of the International Monetary Fund, IMF, speaks in Davos, Switzerland, Jan. 17, 2024. During a IMF and World Bank meeting Thursday, April 18, 2024, Georgieva said the world economy has proven surprisingly resilient in the face of higher interest rates and the shock of war in Ukraine and Gaza, but "there is plenty to worry about,'' including stubborn inflation and rising levels of government debt. (AP Photo/Markus Schreiber, File)

IMF’s Georgieva says there’s ‘plenty to worry about’ despite recovery for many economies

The head of the International Monetary Fund said Thursday that the world economy has proven surprisingly resilient in the face of higher interest rates and the shock of war in Ukraine and Gaza, but “there is plenty to worry about,″ including stubborn inflation and rising levels of government debt.

Letters spell out IMF during a news conference about the International Monetary Fund's (IMF) World Economic Outlook report, during the IMF Spring Meetings, Tuesday, April 16, 2024, in Washington. (AP Photo/Jacquelyn Martin)

IMF: Outlook for world economy is brighter, though still modest by historical standards

Workers wait for transport outside a construction site in Beijing, Tuesday, April 9, 2024. China's Finance Ministry has denounced a report by Fitch Ratings that kept its sovereign debt rated at A+ but downgraded its outlook to negative, saying in a statement that China's deficit is at a moderate and reasonable level and risks are under control. (AP Photo/Ng Han Guan)

China’s economy grew 5.3% in first quarter, beating expectations, though weak spots remain

Thailand's Prime Minister Srettha Thavisin, left, talks to Thailand Deputy Finance Minister Chulaphan Amornwiwat during a news conference at the government house in Bangkok, Thailand, Wednesday, April 10, 2024. Thailand's Prime Minister Srettha Thavisin on Wednesday revealed details of his government’s plan to stimulate the economy by giving digital cash handouts of 10,000 baht ($275) to an estimated qualifying 50 million Thais for spending at their local businesses. (AP Photo/Sakchai Lalit)

Thai prime minister unveils details of a $13.7 billion digital money handout plan

FILE - Jamie Dimon, chairman and CEO, JPMorgan Chase & Co., speaks during a Senate Banking, Housing, and Urban Affairs Committee oversight hearing to examine Wall Street firms on Capitol Hill, Dec. 6, 2023 in Washington. The nation’s most influential banker, JPMorgan Chase CEO Dimon, told investors Monday, April 8, 2024, that he continues to expect the U.S. economy to be resilient and grow this year. But he worries geopolitical events including the war in Ukraine and the Israel-Hamas war, as well as U.S. political polarization, might be creating an environment that “may very well be creating risks that could eclipse anything since World War II.”(AP Photo/Alex Brandon, File)

JPMorgan’s Dimon warns inflation, political polarization and wars are creating risks not seen since WWII

China’s economic growth target for 2024 set at around 5%, AP Explains

China’s economic growth target for this year is around 5%, in line with last year’s performance despite forecasts for a slowdown. Chinese Premier Li Qiang announced the plans Tuesday, Mar. 5, before the National People’s Congress. The ruling Communist Party has said it is prioritizing efforts to encourage consumer spending to help drive the economy. (AP video: Tian Macleod Ji) (Mar. 5)

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China’s economic growth target for 2024 is about 5%, says Premier Li at opening of National People’s Congress

IMF sketches a brighter view of global economy, upgrading growth forecast and seeing lower inflation

Argentines demand more support amid rising costs

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FILE - Federal Reserve chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, March 20, 2024. With the economy still humming, consumers spending freely and employers hiring briskly, some economists are beginning to wonder whether the Fed might decide it doesn’t need to cut rates until late this year. (AP Photo/Susan Walsh, File)

Will the Federal Reserve cut interest rates? With a robust US economy, it might not need to

Ever since the Federal Reserve signaled last fall that it was likely done raising interest rates, Wall Street traders, economists, would-be homeowners — pretty much everyone — began obsessing over a single question: When will the Fed start cutting rates?

FILE - Waitress Rachel Gurcik serves customers at the Gateway Diner in Westville, Pa. on Oct. 22, 2023. On Friday, April 5, 2024, the U.S. government issues its March jobs report. (Tom Gralish/The Philadelphia Inquirer via AP, File)

Another month of robust US job growth points to continued economic strength

America’s employers delivered another outpouring of jobs in March, adding a sizzling 303,000 workers and bolstering hopes that the economy can vanquish inflation without succumbing to a recession in the face of high interest rates.

FILE - A carton of eggs sits on a kitchen counter on March 17, 2023, in East Derry, N.H. Egg prices are 43% higher than they were three years ago. (AP Photo/Charles Krupa, File)

Who wouldn’t like prices to start falling? Careful what you wish for, economists say

Many Americans are in a sour mood about the economy for one main reason: Prices feel too high. Maybe they’re not rising as fast as they had been, but average prices are still painfully above where they were before the pandemic.

The WestRock Paperboard Mill is in Solvay, N.Y., is shown on Jan. 16, 2024. On Thursday, March 28, 2024, the U.S. government issues the third and final estimate of economic growth in the October-December quarter. (AP Photo/Ted Shaffrey)

US economic growth for last quarter is revised up slightly to a healthy 3.4% annual rate

The U.S. economy grew at a solid 3.4% annual pace from October through December, the government said in an upgrade from its previous estimate.

Commuters walk in the early morning summer sun in Auckland, New Zealand, Wednesday, Feb. 14, 2024. New Zealand has entered its second recession in 18 months after the latest round of GDP figures confirmed its economy contracted in the last quarter of 2023. The country's economy shrank by 0.1% in the quarter to December, and 0.7% in per capita terms, the New Zealand's official statistics agency, Stats NZ, announced on Thursday, March 21. (Michael Craig/New Zealand Herald via AP)

New Zealand slips into its second recession in 18 months as economy contracts

New Zealand has entered its second recession in 18 months after the latest round of GDP figures confirmed its economy contracted in the last quarter of 2023.

FILE - Employees arrange a display at a Kohl's store in Clifton, N.J., Jan. 26, 2024. On Thursday, March 14, 2024, the Commerce Department releases U.S. retail sales data for February. (AP Photo/Seth Wenig, File)

February retail sales up 0.6%, yet fissures emerge in what has been a driving force for US economy

American shoppers picked up their spending a bit in February after pulling back the previous month. But last month’s gain was weaker than expected, and January’s decline was revised even lower, suggesting that consumers are becoming more cautious.

Plainclothes policemen have a chat as they stand watch outside the barricaded Sichuan Trust office building in Chengdu in southwestern China's Sichuan Province on Feb. 27, 2024. Some investors in a troubled trust fund in China are facing financial ruin under a government plan to return a fraction of their money, casualties of a slump in the property industry and a broader economic slowdown. (AP Photo/Andy Wong)

Elderly retirees face big losses after Chinese trust goes bust, reflecting turbulent economy

Some investors in a troubled Chinese trust fund are facing financial ruin under a government plan to return a fraction of their money back.

Pedestrians walk past a mannequin in a window of a fashion store in Tverskaya street in Moscow, Russia, Wednesday, March 6, 2024. The economy's resilience in the face of bruising Western sanctions is a major factor behind President Vladimir Putin's grip on power in Russia. (AP Photo/Alexander Zemlianichenko)

Putin can point to a resilient Russian economy as he orchestrates his reelection

Russia’s economy is holding up despite massive Western sanctions and foreign businesses pulling out of the country.

Chinese Premier Li Qiang deliver his opening speech during the opening session of the National People's Congress (NPC) at the Great Hall of the People in Beijing, China, Tuesday, March 5, 2024. (AP Photo/Andy Wong)

China’s plans for 2024 prioritize technology, offer scant comfort for businesses and investors

China’s blueprint for its economy in 2024 is replete with goals and promises, but it’s also notable for not spelling out specific moves to attain long-promised reforms that foreign businesses and investors have been hoping for.

Chinese Premier Li Qiang, center, speaks during the opening session of the National People's Congress (NPC) at the Great Hall of the People in Beijing, China, Tuesday, March 5, 2024. (AP Photo/Ng Han Guan)

China sets an economic growth target of around 5% but acknowledges it will not be easy to achieve

Premier Li Qiang says China aims to achieve 5% economic growth this year but acknowledges it will be a challenging goal in difficult times.

Brazil's President Luiz Inacio Lula da Silva attends the CELAC Summit in Buccament, Saint Vicent and the Grenadines, Friday, March 1, 2024. CELAC is the Community of Latin American and Caribbean States. (AP Photo/Lucanus Ollivierre)

Brazil’s economy grows 2.9% in Lula’s 1st year, beating expectations

Brazil’s economy grew 2.9% in 2023, beating expectations in the first year of the administration of President Luiz Inácio Lula da Silva.

Workers drive among shipping containers and trailers at a BNSF intermodal terminal, Jan. 3, 2024, in Edgerton, Kan. On Wednesday, Feb. 28, 2024, the government issues the second of three estimates of GDP growth in the United States during the October-December quarter. (AP Photo/Charlie Riedel)

US economy grew solid 3.2% in fourth quarter, a slight downgrade from government’s initial estimate

The U.S. economy grew at a robust 3.2% annual pace from October through December, propelled by healthy consumer spending, the Commerce Department reported Wednesday in a slight downgrade from its initial estimate.

Travelers move through the B terminal at Hartsfield-Jackson Atlanta International Airport, Saturday, Jan. 27, 2024, in Atlanta. On Tuesday, Feb. 27, 2024, the Conference Board reports on U.S. consumer confidence for February. (AP Photo/Mike Stewart)

Consumer confidence slips in February as anxiety over potential recession surprisingly reappears

American consumers are feeling less confident this month as concerns over a possible recession grew, despite most indicators pointing to a healthy U.S. economy.

FILE - A "Help Wanted" sign is displayed in Deerfield, Ill., Wednesday, Sept. 21, 2022. The year looks to be a much better one for the U.S. economy than business economists were forecasting just a few months earlier, according to a survey released Monday, Feb. 26, 2024. (AP Photo/Nam Y. Huh)

What recession? Professional forecasters raise expectations for US economy in 2024

This year looks to be a much better one for the U.S. economy than business economists were forecasting just a few months ago.

FILE - The buildings of the banking district are pictured in Frankfurt, Germany, on Feb. 19, 2024. Germany businesses remain mired in pessimism despite a small uptick in the latest survey, as Europe's largest economy struggles with shortages of skilled labor, slower global trade, and political squabbling. (AP Photo/Michael Probst)

Gloom settles over Germany’s economy, with businesses downbeat about the coming months

Germany’s businesses remain mired in pessimism despite a small uptick in the latest survey, as Europe’s largest economy struggles with shortages of skilled labor, slower global trade, and political squabbling.

FILE - Cars for export park at a port in Yokohama, near Tokyo, on July 6, 2020.Japan’s exports grew nearly 12% in January as shipments jumped in vehicles, auto parts and machinery, according to government data Wednesday, Feb. 21, 2024. (AP Photo/Koji Sasahara, File)

Japan’s exports surged nearly 12% in January in 2nd straight month of gains

Japan has reported its exports surged nearly 12% in January, helped by robust demand for vehicles, auto parts and machinery.

FILE - A golfer drives range balls on a warm day in Des Plaines, Ill., Feb. 1, 2024. On Friday, Feb. 16, 2024, the University of Michigan releases its preliminary reading of consumer sentiment for the month. (AP Photo/Nam Y. Huh, File)

Consumer sentiment edges higher as economic growth accelerates and inflation fades

A measure of consumer sentiment ticked higher this month, after soaring in December and January, underscoring that Americans are starting to feel better about the economy after years of gloom.

FILE - Shoppers and sightseers walk on Fifth Avenue on Dec. 11, 2023, in New York. In the United States, the economy motored ahead in last year's fourth quarter for a sixth straight quarter of growth since the pandemic's early days. (AP Photo/Yuki Iwamura, File)

Recession has struck some of the world’s top economies. The US keeps defying expectations

Both Japan and the United Kingdom said Thursday their economies weakened during the final three months of 2023.

Shadow chancellor of the exchequer Rachel Reeves speaks during a press conference on the state of the UK economy, at Church House, Westminster, central London, Thursday Feb. 15, 2024. (Stefan Rousseau/PA via AP)

UK fell into recession at the end of 2023 as economy takes center stage in runup to general election

The British economy fell into recession at the end of 2023 as output shrank more than anticipated in the final three months of the year.

FILE - A sushi chef prepares a plate at the Toyosu Market Monday, Jan. 29, 2024, in Tokyo. Japan has slipped to the world’s fourth-largest economy as government data released Thursday, Feb. 14, 2024, showed it fell behind the size of Germany's in 2023. (AP Photo/Eugene Hoshiko, File)

Japan slips into a recession and loses its spot as the world’s third-largest economy

Japan’s economy is now the world’s fourth-largest after it contracted in the last quarter of 2023 and fell behind Germany.

FILE - A well pump works at sunset on a farm near Sweetwater, Texas, on Dec. 22, 2014. Diamondback Energy will buy rival Endeavor Energy Resources in a cash-and-stock deal valued at about $26 billion to create a drilling giant in the Southwest United States. (AP Photo/LM Otero, File)

Potential $50 billion Southwestern energy giant emerges as Diamondback seeks to buy rival Endeavor

Diamondback Energy will attempt to buy rival Endeavor Energy Resources to create an energy giant in the Southwestern United States worth more than $50 billion.

FILE - Bezalel Smotrich, Israeli Minister of Finance, addresses the parliament in Jerusalem, March 27, 2023. Israel's finance minister has slammed a decision by the financial ratings agency Moody’s to downgrade Israel’s credit rating. Bezalel Smotrich says the decision “did not include serious economic claims.” In its announcement Friday, Feb. 9, 2024, Moody's warned that the ongoing war in Gaza and a possible war in the north with Hezbollah could adversely affect Israel’s economy. (AP Photo/Maya Alerruzzo, file)

Israel’s finance minister blasts Moody’s downgrade of the the country’s credit rating

Israel’s finance minister has slammed a decision by the financial ratings agency Moody’s to downgrade Israel’s credit rating.

Arick Davis, owner of Last Mile Cafe, poses for a portrait outside of DeVos Place convention center during the annual State of Grand Rapids Business event on Jan. 31, 2024, in Grands Rapids, Mich. Davis says, “I will not vote for someone who could cause so much instability," but is well aware that consumers are feeling pressure on how much they can spend and the challenge that Black-owned businesses like his have with accessing lines of credit to expand. To the extent that the economy is doing well, there is little confidence that it is necessarily sustainable. He'll vote for Biden, he says, but unenthusiastically. (AP Photo/Kristen Norman)

It’s a mismatch on the economy. Even as inflation wanes, voters still worry about getting by

Bartender Catey Regis’s pricey misadventure of buying a used car recently speaks to why voters are worrying about the U.S. economy going into this year’s presidential election.

FILE - President Joe Biden speaks to members of the media before boarding Marine One on the South Lawn of the White House in Washington, Jan. 30, 2024. U.S. adults are only feeling slightly better about the economy, despite stocks being near record highs and surprisingly strong growth last year. A new poll from The Associated Press-NORC Center for Public Affairs Research finds that 35% of U.S. adults call the national economy good. (AP Photo/Andrew Harnik, File)

AP-NORC poll finds an uptick in positive ratings of the US economy, but it’s not boosting Biden

U.S. adults are only feeling slightly better about the economy, despite stocks being near record highs and surprisingly strong growth last year.

FILE - Construction workers ride on a beam hanging from a crane at the construction site of a residential high rise building in Mexico City, June 17, 2022. Mexico's economy barely eked out a 0.1% increase in the fourth quarter, bringing estimated growth for 2023 to 3.1%, according to preliminary figures published Tuesday, Jan. 30. 2024, by Mexico’s National Statistics Institute. (AP Photo/Marco Ugarte, File)

Mexico’s economy ekes out 0.1% expansion in 4th quarter, posts growth of 3.1% for 2023

Preliminary figures show Mexico’s economy barely eked out a 0.1% increase in the fourth quarter, bringing estimated growth for 2023 to 3.1%.

FILE - Customers shop for produce in the Chinatown neighborhood of Philadelphia, July 22, 2022. Asian Americans and Pacific Islanders in the United States are somewhat more optimistic than the overall adult population about their personal finances, but recent polling shows the outlook isn't quite as sunny when it comes to keeping up with household expenses or unexpected medical costs. (AP Photo/Matt Rourke, File)

US Asians and Pacific Islanders worry over economy, health care costs, AP-NORC/AAPI data poll shows

A majority of Asian Americans and Pacific Islanders in the United States call their personal financial situation good.

File - Trains are parked outside the central station in Frankfurt, Germany on Jan. 24, 2024 during a planned six-day strike. The International Monetary Fund downgraded the outlook for some countries as Europe continues to struggle with dispirited consumers and the lingering effects of the energy price shock caused by the Russian invasion of Ukraine. (AP Photo/Michael Probst, File)

IMF sketches a brighter view of global economy, upgrading growth forecast and seeing lower inflation

The International Monetary Fund has upgraded its outlook for the world economy this year, envisioning resilient growth led by the United States and a slower pace of inflation.

File - A generator and its blades are prepared to head to the open ocean for the South Fork Wind farm from State Pier in New London, Conn., Dec. 4, 2023. On Thursday, the government issues the first of three estimates of GDP growth in the United States during the October-December quarter.(AP Photo/Seth Wenig, File)

US economy grew at a surprisingly strong 3.3% pace last quarter, pointing to continued resilience

The nation’s economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households.

FILE - Pedestrians wearing face masks walk past the People's Bank of China in Beijing on March 3, 2023. China’s central bank said Wednesday, Jan. 24, 2024, it will cut the ratio of reserves banks must hold to help boost the slowing economy. (AP Photo/Mark Schiefelbein, File)

China moves to spur its slowing economy and boost markets by cutting required bank reserves

China’s central bank plans to reduce the ratio of reserves banks must keep on hold as part of a slew of measures to support its slowing economy.

FILE - Shoppers visit the Christmas Village in Philadelphia, Dec. 13, 2023. On Wednesday, the Commerce Department releases U.S. retail sales data for December. (AP Photo/Matt Rourke, File)

Retail sales up strongly in December as Americans showed continued willingness to spend

Americans stepped up their spending at retailers in December, closing out the holiday shopping season and the year on an upbeat tone and signaling that people remain confident enough to keep spending freely.