Gross domestic product

US revises up last quarter’s economic growth to 2.9% rate

The U.S. economy grew at a 2.9% annual rate from July through September despite high interest rates and chronic inflation, the government said Wednesday in an upgrade from its initial estimate.

German economy sees stronger growth in 3rd quarter

Japan’s economy shrinks as consumers hold back on spending

UK economy shrinks as economists warn of more pain to come

German economy to shrink in 2023, government advisers expect

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Germany sees unexpected growth in 3rd quarter; inflation up

The German economy grew in the third quarter, an unexpectedly positive performance powered largely by private spending.

US economy returned to growth last quarter, expanding 2.6%

The U.S. economy grew at a 2.6% annual rate from July through September, snapping two straight quarters of contraction and overcoming high inflation and interest rates just as voting begins in midterm elections in which the economy’s health has emerged as a paramount issue.

German government: Economy to shrink in 2023 as war bites

The German government has slashed its growth forecast for this year and predicted that Europe’s biggest economy would shrink in 2023 as Germany deals with the fallout from Russia’s war in Ukraine including Moscow cutting off natural gas supplies.

After years of EU scrutiny, Greece promises balanced budget

ATHENS, Greece (AP) — Greece has promised to return to a budget surplus in 2023, submitting its first spending blueprint in 12 years that is not under the direct scrutiny of European bailout lenders.

US economy drops at 0.6% annual rate from April through June

Battered by surging consumer prices and rising interest rates, the U.S. economy shrank at a 0.6% annual rate from April through June, the government announced Thursday, unchanged from its previous second-quarter estimate.

Asia shares rise as Wall Street on track to end loss streak

Asian benchmarks are mostly higher, as investor optimism got a perk from a rally on Wall Street that’s on track to break a three-week losing streak.

Government revision shows economy shrank 0.6% last quarter

The U.S. economy shrank at a 0.6% annual rate from April through June, the government said in an upgrade from its initial estimate.

Russian GDP drops 4% in Q2 -- 1st full quarter of fighting

Russia’s gross domestic product contracted 4% in the second quarter of this year, the first full quarter since Russia sent troops into Ukraine.

UK economy shrinks in 2nd quarter, sharpening recession fear

The United Kingdom’s economy shrank in the three months to June. It’s a smaller-than-expected contraction but adds to jitters about the rocky months ahead.

Business Highlights: GDP data, JetBlue buying Spirit

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US economy shrinks for a 2nd quarter, raising recession fear

WASHINGTON (AP) — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession.

US economy shrinks for a 2nd quarter, raising recession fear

The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession.

Report: Federal debt lower in 2022; still poised to climb

The Congressional Budget Office says the end of pandemic-era spending, fast economic growth and higher tax revenues have caused the federal debt this year to be lower than forecast.

Biden fights talk of recession as key economic report looms

President Joe Biden wants to convince a skeptical public that the U.S. is not, in fact, heading into a recession.

UK economy shows unexpectedly strong growth in May

Britain’s economy showed unexpectedly strong growth in May, with the three major components of production— manufacturing, construction and services — all posting gains.

Spain boosts military spending to close gap with NATO goal

Spain is increasing military spending as it works toward meeting a NATO commitment by dedicating 2% of gross domestic product to defense.

US economy slipped 1.6% to start year; return to growth eyed

The U.S. economy shrank at a 1.6% annual pace in the first three months of the year even though consumers and businesses kept spending at a healthy pace, the government reported Wednesday in a slight downgrade from its previous estimate for January-March quarter.

Japan’s economy contracts, but at smaller rate than thought

The government says Japan’s economy contracted in the first quarter though at a slower rate than expected.

US economy shrank by 1.5% in Q1 but consumers kept spending

The U.S. economy shrank in the first three months of the year even though consumers and businesses kept spending at a solid pace, the government reported Thursday in a slight downgrade of its previous estimate for the January-March quarter.

EU cuts forecast for economic growth as war’s fallout widens

The European Union has slashed its forecasts for economic growth in the 27-nation bloc amid the prospect of a drawn-out Russian war in Ukraine and disruptions to energy supplies.

UK economic growth slows, raising recession concerns

Britain’s economy grew at the slowest pace in a year during the first quarter as retailers and manufacturers were hurt by supply disruptions and higher prices.

US economy shrinks, threats loom, but growth likely to last

The U.S. economy shrank last quarter for the first time since the pandemic recession struck two years ago, contracting at a 1.4% annual rate, but consumers and businesses kept spending in a sign of economic durability.

Drop in US GDP challenges Biden’s pitch to voters

The latest report on gross domestic product is complicating President Joe Biden’s pitch that the U.S. economy is strong.

UK economic growth slows amid declines in manufacturing

Britain’s economic growth slowed in February amid declines in the production of cars, computers and chemicals.

US growth in Q4 revised lower to 6.9%, slower growth to come

The U.S. economy ended 2021 by expanding at a healthy 6.9% annual pace from October through December, the government reported Wednesday, a slight downgrade from its previous estimates.

German economic advisers slash 2022 growth forecast to 1.8%

The German government’s panel of independent economic advisers has slashed its 2022 growth forecast for Europe’s biggest economy in light of Russia’s invasion of Ukraine and concern over energy supplies and prices.

US slightly revises up its GDP estimate for Q4 to 7%

The U.S. economy ended 2021 by expanding at a brisk 7% annual pace from October through December, the government reported in a slight upgrade from its earlier estimate.

US economy grew 5.7% in 2021 in rebound from 2020 recession

The U.S. economy grew last year at the fastest pace since Ronald Reagan’s presidency, bouncing back with resilience from 2020′s brief but devastating coronavirus recession.

German government cuts 2022 economic growth forecast to 3.6%

The German government has cut its growth forecast for this year. But it says that Europe’s biggest economy remains “robust” and will return to its pre-pandemic size in 2022.

World Bank: Lebanon’s meltdown threatens social peace

The World Bank says Lebanon’s economy has contracted by more than 58%, warning in a report that the small country’s financial meltdown poses a threat to long-term stability and social peace.

Fitch upgrades Greece’s credit outlook to positive

Credit ratings company Fitch has revised Greece’s outlook to positive from stable, although it kept the country’s rating at BB, two notches below investment grade.