Economic outlook

Workers build a protective barrier as construction resumed on the New York Islanders' new arena, located adjacent to Belmont race track, during the current coronavirus outbreak, Wednesday, May 27, 2020, in Elmont, N.Y. Long Island became the latest region of New York to begin easing restrictions put in place to curb the spread of the coronavirus as it entered the first phase of the state's four-step reopening process. Gov. Andrew Cuomo announced Tuesday that Nassau and Suffolk counties could begin reopening parts of their economy after nonessential businesses were shuttered for two months. (AP Photo/Kathy Willens)
May 27, 2020 - 4:17 pm
WASHINGTON (AP) — Businesses across the country surveyed by the Federal Reserve don’t appear to share the Trump administration's optimism about a rapid economic recovery starting this summer. The Federal Reserve released a report Wednesday that draws on business contacts from the central bank's 12...
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May 26, 2020 - 9:59 pm
SAN JUAN, Puerto Rico (AP) — A federal control board that oversees Puerto Rico’s finances said Tuesday that the island could be hit with a deficit earlier than expected and see its surplus plunge by 65% in upcoming years, warning the government cannot afford to pay current debt obligations. The...
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FILE - In this April 21, 2020, file photo, a man rides his bike on Waikiki Beach in Honolulu. The coronavirus pandemic has been particularly brutal to the tourism-dependent economies of Nevada and Hawaii, lifting the unemployment rate in both states to about one-quarter of the workforce. (AP Photo/Caleb Jones, File)
May 26, 2020 - 3:07 pm
WASHINGTON (AP) — U.S. consumer confidence inched up this month, showing signs of stabilizing, but remained near a six-year low in the face of the widespread business shutdowns that have sent the economy into recession. The Conference Board said Tuesday that its confidence index ticked up to a...
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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 - 5:07 pm
Stock indexes finished mostly higher Friday as Wall Street shook off an early slide, closing out a solid week of gains for the market. The S&P 500 index inched up 0.2% after having been down 0.5%. It ended the week with a 3.2% gain, largely due to a big rally on Monday that offset all of the...
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FILE - In this Aug. 7, 2019, file photo, Reserve Bank of India (RBI) Governor Shaktikanta Das speaks during a press conference in Mumbai, India. India’s central bank on Friday, May 22, 2020, cut its key interest rate to 4% to revive the economy severely hit the coronavirus outbreak and a two-month lockdown. Reserve Bank of India Governor Das also said India's gross domestic product in financial 2020-21 was expected to have negative growth. (AP Photo/Rajanish Kakade, File)
May 22, 2020 - 11:04 am
NEW DELHI (AP) — India’s central bank on Friday cut its key interest rate to 4% to counter the blow to the economy from the coronavirus pandemic and a lockdown meant to contain it. Reserve Bank of India Governor Shaktikanta Das forecast that the economy will contract in fiscal 2020-21. He did not...
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May 21, 2020 - 3:21 pm
WASHINGTON (AP) — Efforts to forecast the U.S. economy's path to recovery from the current deep downturn face “a whole new level of uncertainty," Federal Reserve Chairman Jerome Powell said Thursday. Not only is there the difficulty predicting how the coronavirus pandemic will play out, it is also...
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A woman wearing face mask walks past a bank electronic board showing the Hong Kong share index Tuesday, May 19, 2020. Asian shares rose Tuesday on optimism about a potential vaccine for the coronavirus after hopes for a U.S. economic recovery in the second half of the year sent Wall Street into a rebound. (AP Photo/Vincent Yu)
May 19, 2020 - 12:09 am
TOKYO (AP) — Asian shares rose Tuesday on optimism about a potential vaccine for the coronavirus after hopes for a U.S. economic recovery in the second half of the year sent Wall Street into a rebound. Japan's benchmark Nikkei 225 added 1.9% in morning trading to 20,517.42. Australia's S&P/ASX...
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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 - 5:50 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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A currency trader walks near the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Monday, May 18, 2020. Asian stock markets rose Monday after the chief U.S. central banker expressed optimism the the American economy might start to recover this year from the coronavirus pandemic. (AP Photo/Lee Jin-man)
May 17, 2020 - 11:25 pm
BEIJING (AP) — Asian stock markets rose Monday after the chief U.S. central banker expressed optimism the the American economy might start to recover this year from the coronavirus pandemic. Benchmarks in Shanghai, Tokyo, Hong Kong and Australia all advanced. That came despite Japan’s announcement...
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A currency trader talks near screens at the foreign exchange dealing room in Seoul, South Korea, Friday, May 15, 2020. Asian shares were mixed Friday as markets meandered on news about economies reopening, mixed with worries about the prolonged health risks from the new coronavirus. (AP Photo/Lee Jin-man)
May 15, 2020 - 4:48 pm
Stocks capped another wobbly day of trading on Wall Street with modest gains Friday, though the S&P 500 still ended with its biggest weekly loss in nearly two months. The benchmark index rose 0.4% after falling 1.3% earlier in the day as investors weighed more grim data showing how badly the...
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