Economic outlook

In this May 6, 2020 photo, a man begs at a roadside during a lockdown to help to contain a spread of coronavirus in Peshawar, Pakistan. For millions of people who live in poor and troubled regions of the world, the novel coronavirus is only the latest epidemic. They already face a plethora of fatal and crippling infectious diseases: polio, Ebola, cholera, dengue, tuberculosis and malaria, to name a few. The diseases are made worse by chronic poverty that leads to malnutrition and violence that disrupts vaccination campaigns. ( AP Photo/Muhammad Sajjad)
June 10, 2020 - 6:31 am
PARIS (AP) — The virus crisis has triggered the worst global recession in nearly a century -- and the pain is not over yet even if there is no second wave of infections, an international economic report warned Wednesday. Hundreds of millions of people have lost their jobs, and the crisis is hitting...
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A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, June 10, 2020. Shares were trading slightly higher in Asia on Wednesday after a weekslong rally on Wall Street hit the brakes. (AP Photo/Ahn Young-joon)
June 10, 2020 - 12:26 am
BANGKOK (AP) — Shares were trading slightly higher in Asia on Wednesday after a weekslong rally on Wall Street hit the brakes. Markets rose Wednesday in Tokyo, Hong Kong and Sydney but fell in Shanghai after the S&P 500 fell 0.8%, its largest loss in almost three weeks. Skeptics have been...
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A man wearing a face mask walks past a bank electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Tuesday, June 9, 2020. Asian shares were mixed on Tuesday after the Nasdaq hit a record high. (AP Photo/Vincent Yu)
June 08, 2020 - 11:37 pm
TOKYO (AP) — Shares were mixed in Asia on Tuesday after the Nasdaq composite touched a fresh record as enthusiasm about reopening the economy pushed Wall Street still higher. Japan's benchmark Nikkei 225 lost 0.5% to 23,064.75 and South Korea's Kospi dipped 0.3% to 2,178.58. Hong Kong's Hang Seng...
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A woman walks into a closing Gordmans store, Thursday, May 28, 2020, in St. Charles, Mo. Stage Stores, which owns Gordmans, is closing all its stores and has filed for Chapter 11 bankruptcy. (AP Photo/Jeff Roberson)
June 08, 2020 - 6:42 pm
WASHINGTON (AP) — The U.S. economy entered a recession in February as the coronavirus struck the nation, a group of economists declared Monday, ending the longest expansion on record. The economists said that employment, income and spending peaked in February and then fell sharply afterward as the...
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President Donald Trump speaks as he signs the Paycheck Protection Program Flexibility Act during a news conference in the Rose Garden of the White House, Friday, June 5, 2020, in Washington. (AP Photo/Evan Vucci)
June 05, 2020 - 9:47 pm
WASHINGTON (AP) — President Donald Trump effectively claimed victory over the economic crisis and COVID-19 on Friday as well as major progress against racial inequality, heartily embracing a better-than-expected jobs report in hopes of convincing a discouraged nation he deserves another four years...
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A woman walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, June 5, 2020. Asian markets are mostly lower after Wall Street rally takes a breather, as investors parse unemployment data. (AP Photo/Eugene Hoshiko)
June 05, 2020 - 4:24 pm
For weeks, critics said Wall Street’s big rally made no sense when the economy seemed set for only more despair. On Friday, it got a bit of validation. The S&P 500 jumped another 2.6% after a report said the U.S. job market surprisingly strengthened last month, bolstering hopes that the worst...
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Barber Luis Garcia walks out of the Castillo Barbershop where a sign "Now Hiring" is displayed, Friday, June 5, 2020, in Lawrence, Mass. The U.S. unemployment rate fell to 13.3% in May, and 2.5 million jobs were added — a surprisingly positive reading in the midst of a recession that has paralyzed the economy and depressed the job market in the wake of the viral pandemic. (AP Photo/Elise Amendola)
June 05, 2020 - 2:26 pm
WASHINGTON (AP) — U.S. unemployment dropped unexpectedly in May to 13.3% as reopened businesses began recalling millions of workers faster than economists had predicted, triggering a rally Friday on Wall Street and giving President Donald Trump something to boast about amid his reelection bid. The...
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A woman walks past a boutique with a sale sign, Thursday, June 4, 2020, in Cleveland Heights, Ohio. The state says more than 34,000 Ohioans filed unemployment claims during the last week of May. That is the lowest figure since Ohio's stay-at-home orders depressed the economy and led to widespread layoffs. (AP Photo/Tony Dejak)
June 05, 2020 - 8:42 am
WASHINGTON (AP) — The U.S. unemployment rate fell to 13.3% in May from 14.7%, and 2.5 million jobs were added — a surprisingly positive reading in the midst of a recession that has paralyzed the economy in the wake of the viral pandemic. The May job gain suggests that businesses have quickly been...
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A currency trader walks by 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, Thursday, June 4, 2020. Asian stock markets are mixed after Wall Street rose on better U.S. jobs and manufacturing data than expected.(AP Photo/Lee Jin-man)
June 04, 2020 - 4:55 pm
Wall Street paused on Thursday, and the S&P 500 fell for the first time in five days as stocks that had held steadiest through this year’s feverish swings gave back some of their gains. The S&P 500 lost 10.52 points, or 0.3%, to 3,112.35 after being on track earlier in the day for its...
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The buildings of the banking district are seen in Frankfurt, Germany, at dawn on early Sunday, May 31, 2020. (AP Photo/Michael Probst)
June 04, 2020 - 8:48 am
FRANKFURT, Germany (AP) — The economy of the 19-country eurozone is forecast to shrink by 8.7% this year as it suffers from the shutdown of business during the pandemic lockdown, the European Central Bank said Thursday. The central bank said it expects a rebound of 5.2% in 2021 and 3.3% in 2022...
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