Economic outlook

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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Mayor Michael Hancock listens as chief financial officer Brendan Hanlon speaks during a briefing in Denver on Thursday, May 14, 2020, on the state of the Denver's budget, city employee furloughs and the resumption of business after closures due to the coronavirus. (AAron Ontiveroz/The Denver Post via AP)
May 14, 2020 - 10:04 pm
DENVER (AP) — Denver Mayor Michael Hancock said Thursday that thousands of city employees, including himself, will be furloughed for eight days this year to help close what is expected to be a $226 million budget gap caused by the coronavirus, joining mayors across the country that have made the...
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New Zealand Prime Minister Jacinda Ardern, right, walks with Deputy Prime Minister Winston Peters to the house for the budget delivery speech at Parliament in Wellington, New Zealand, Thursday, May 14, 2020. New Zealand's government plans to borrow and spend vast amounts of money as it tries to keep unemployment below 10% in the wake of the coronavirus pandemic. (Hagen Hopkins/Pool Photo via AP)
May 13, 2020 - 11:40 pm
WELLINGTON, New Zealand (AP) — New Zealand’s government plans to borrow and spend vast amounts of money as it tries to keep unemployment below 10% in the wake of the coronavirus pandemic. Finance Minister Grant Robertson on Thursday unveiled a budget unlike any in the nation's history. Debt would...
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May 13, 2020 - 12:42 pm
UNITED NATIONS (AP) — The United Nations is forecasting that the coronavirus pandemic will shrink the world economy by 3.2 percent this year, the sharpest contraction since the Great Depression in the 1930s. The U.N.’s mid-year report released Wednesday said COVID-19 is expected to slash global...
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FILE - In this April 2, 2019, file photo, Australian Treasurer Josh Frydenberg addresses the media as he arrives at Parliament House in Canberra, Australia. Treasurer Frydenberg said the country faces a “sobering” economic outlook due to the effects of the coronavirus and said it would have the largest deficit in its history when a revised budget is released in October. (AP Photo/Rod McGuirk, File)
May 12, 2020 - 4:41 am
CANBERRA, Australia (AP) — Australia's treasurer said Tuesday the country faces a “sobering” economic outlook due to the effects of the coronavirus and will have its largest-ever deficit when a revised budget is released in October. The 2020-21 federal budget was due to be released Tuesday. But the...
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Euro Treasures Antiques owner Scott Evans poses next to a "thank You" sign Friday, May 8, 2020, in Salt Lake City. Evans is closing his art and antique store after 40 years. With a drastic drop in customers due to COVID-19 concerns and shelter-in-place orders, Evans says it was no longer cost effective to stay open. (AP Photo/Rick Bowmer)
May 08, 2020 - 8:38 pm
BALTIMORE (AP) — Brutal. Horrific. Tragic. Choose your description. The April jobs report showed, in harrowing detail, just how terribly the coronavirus outbreak has pummeled the U.S. economy. Most obviously, there's the 14.7% unemployment rate, the highest since the Great Depression. And the...
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FILE - In this May 7, 2020, file photo, a pedestrian walks by The Framing Gallery, closed due to the COVID-19 pandemic, in Grosse Pointe, Mich. The U.S. unemployment rate hit 14.7% in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record. The figures are stark evidence of the damage the coronavirus has done to a now-shattered economy. (AP Photo/Paul Sancya, File)
May 08, 2020 - 12:06 pm
WASHINGTON (AP) — The U.S. unemployment rate hit 14.7% in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record. The figures are stark evidence of the damage the coronavirus has done to a now-shattered economy. The losses, reported by...
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People wearing a face mask to help curb the spread of the coronavirus stand near an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, May 8, 2020. Asian shares surged Friday on optimism the worst of the economic fallout from the pandemic may be over, as Wall Street logged its biggest rally in a week.(AP Photo/Eugene Hoshiko)
May 08, 2020 - 9:40 am
NEW YORK (AP) — As bad as the April jobs report was, it wasn’t quite as bad as analysts were expecting, which sent stocks and bond yields rising early Friday. The government reported that the unemployment rate spiked to 14.7% last month as job losses swept the country because of lockdowns to combat...
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