Economic outlook

FILE - In this June 25, 2020 file photo, a price sign is displayed at a retail store as a store employee wears a mask while working in Niles, Ill. Small businesses are in limbo again as the coronavirus outbreak rages and the government’s $659 billion relief program draws to a close. Companies still struggling with sharply reduced revenue are wondering if Congress will give them a second chance at the Paycheck Protection Program, which ends Friday, Aug. 7, after giving out 5.1 million loans worth $523 billion. (AP Photo/Nam Y. Huh, File)
August 14, 2020 - 9:24 am
WASHINGTON (AP) — Americans increased their retail purchases by 1.2% in July, with solid gains in appliances and clothing helping restore sales to their level before the viral pandemic erupted in March. Sales at retail stores and restaurants have now risen for three straight months, after plunges...
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FILE - In this June 11, 2020 file photo, workers on scaffolding lay blocks on one of the larger buildings at a development site where various residential units and commercial sites are under construction in Cranberry Township, Butler County, Pa. U.S. productivity rose at a 7.3% rate in the second quarter, the largest quarterly increase since 2009. Labor costs also jumped, rising 12.2%. The Labor Department report Friday, Aug. 14, is its first estimate of second-quarter productivity and follows the first quarter’s 0.9% decline. (AP Photo/Keith Srakocic, File)
August 14, 2020 - 8:54 am
SILVER SPRING, Md. (AP) — U.S. productivity rose at a 7.3% rate in the second quarter, the largest quarterly increase since 2009. Labor costs also jumped, rising 12.2%. The Labor Department report Friday is its first estimate of second-quarter productivity and follows the first quarter’s 0.3%...
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People wearing face masks to protect against the coronavirus walk through a shopping mall in Beijing, Friday, Aug. 14, 2020. China's factory output rose just under 5% last month from a year earlier while retail sales fell slightly, suggesting the country's recovery from the coronavirus pandemic remains muted. (AP Photo/Mark Schiefelbein)
August 14, 2020 - 2:09 am
BEIJING (AP) — China's factory output rose just under 5% last month from a year earlier while retail sales fell slightly, suggesting the country's recovery from the coronavirus pandemic remains muted. The data reported on Friday show that despite a rebound in Chinese exports, domestic demand in the...
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FILE - In this Wednesday, March 11, 2020 file photo, pedestrians wearing face masks pass the Bank of England in London. The Bank of England left its benchmark interest rate at a record low of 0.1% on Thursday Aug. 6, 2020, as it expressed caution about how rapidly the United Kingdom's economy will recover from the COVID-19 pandemic. (AP Photo/Matt Dunham, File)
August 06, 2020 - 6:43 am
LONDON (AP) — The Bank of England predicted Thursday that the economic downturn in the U.K. economy might be less severe than it thought at the start of the COVID-19 pandemic - even as it warned it would take a longer time to heal the scars. The central bank opened the door to providing more...
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Pellegrinis Cafe and The Paperback book store are closed during lockdown due to the continuing spread of the coronavirus in Melbourne, Thursday, Aug. 6, 2020. Victoria state, Australia's coronavirus hot spot, announced on Monday that businesses will be closed and scaled down in a bid to curb the spread of the virus. (AP Photo/Andy Brownbill)
August 06, 2020 - 4:12 am
MELBOURNE, Australia (AP) — A bright side for plant nurseries of Melbourne’s first pandemic stay-at-home order was that many householders took the time to garden. But the latest lockdown in Australia’s second-largest city is far tougher. More than 250,000 people were thrown out of work on Thursday...
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A shopper passes a display window with mask covered mannequins at a dress store, Thursday, July 30, 2020, in McAllen, Texas. (AP Photo/Eric Gay)
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July 30, 2020 - 5:37 pm
WASHINGTON (AP) — The coronavirus pandemic sent the U.S. economy plunging by a record-shattering 32.9% annual rate last quarter and is still inflicting damage across the country, squeezing already struggling businesses and forcing a wave of layoffs that shows no sign of abating. The economy's...
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A man lifts his arm as he walks by the New York Stock Exchange, Thursday, July 30, 2020. Stocks are falling on Wall Street Thursday after reports showed that layoffs are continuing at a stubborn pace and that the U.S. economy contracted at a nearly 33% annual rate in the spring. (AP Photo/Mark Lennihan)
July 30, 2020 - 4:08 pm
NEW YORK (AP) — Wall Street closed broadly lower Thursday, but another indefatigable rise for big tech stocks helped the market trim its losses from earlier in the day. The S&P 500 lost 0.4%, and nearly three quarters of the stocks in the index fell. Among the hardest-hit were banks, oil...
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FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. Federal Reserve officials are grappling this week with the timing and scope of their next policy moves at a time when the raging viral pandemic has weakened the U.S. economy. No major changes are likely when the Fed releases a statement Wednesday, July 29, after its two-day policy meeting ends and just before Powell holds a news conference. (AP Photo/Jacquelyn Martin, File)
July 29, 2020 - 5:27 pm
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell warned Wednesday that the viral epidemic is endangering the modest economic recovery that followed a collapse in hiring and spending this spring. As a result, he said, the Fed plans to keep interest rates pinned near zero well into the future...
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FILE - In this July 13, 2020 file photo, a For Rent sign hangs on a closed shop during the coronavirus pandemic in Miami Beach, Fla. Having endured what was surely a record-shattering slump last quarter, the U.S. economy faces a dim outlook as a resurgent coronavirus intensifies doubts about the likelihood of any sustained recovery the rest of the year. (AP Photo/Lynne Sladky)
July 29, 2020 - 2:32 pm
WASHINGTON (AP) — Having endured what was surely a record-shattering slump last quarter, the U.S. economy faces a dim outlook as a resurgent coronavirus intensifies doubts about any sustained recovery the rest of the year. A huge plunge in consumer spending as people stayed home and avoided...
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Australian Treasurer Josh Frydenberg addresses the media during a federal budget update ahead of the 2020/21 budget scheduled for October, at Parliament House in Canberra, Thursday, July 23, 2020. Australia’s response to the coronavirus pandemic tipped the government’s budget AU$85.8 billion ($61 billion) into the red in the last fiscal year and will create AU$184 billion ($131 billion) more debt in the current year which would be the nation’s biggest deficit since World War II, treasury figures showed on Thursday. (Lukas Coch/AAP Image via AP)
July 23, 2020 - 3:35 am
CANBERRA, Australia (AP) — Australia’s response to the coronavirus pandemic tipped the government’s budget 85.8 billion Australian dollars ($61 billion) into the red in the last fiscal year and will create AU$184 billion ($131 billion) more debt in the current year which would be the nation’s...
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