Economic outlook

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)
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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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 - 3:38 pm
WASHINGTON (AP) — The Federal Reserve expressed concern Wednesday that the viral outbreak will act as a drag on the economy and hiring in the coming months and said it plans to keep its benchmark short-term interest rate pegged near zero. In a statement at the end of its policy-making meeting...
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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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FILE - In this June 30, 2020 file photo, Federal Reserve Chair Jerome Powell testifies during a House Financial Services Committee hearing on the coronavirus response on Capitol Hill in Washington. The Federal Reserve has opened one of its lending programs to nonprofit groups, including hospitals, educational institutions, and social service organizations. The Fed said Friday, July 17, that its Main Street Lending Program, which is targeted to mid-sized businesses, will now extend credit to nonprofits with at least 10 employees and endowments of less than $3 billion. (Tasos Katopodis/Pool via AP, File)
July 29, 2020 - 12:01 am
WASHINGTON (AP) — 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 after its two-day policy meeting...
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An aircraft of Cathay Pacific lands at the airport in Frankfurt, Germany, early Wednesday, July 22, 2020. (AP Photo/Michael Probst)
July 27, 2020 - 4:55 am
FRANKFURT, Germany (AP) — An important indicator of the German business outlook rose in July for the third month in a row as economic activity continues to pick up after many of the coronoavirus restrictions were eased or lifted. The Ifo institute's index rose to 90.5 points from 86.3 points in...
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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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July 17, 2020 - 6:02 pm
WASHINGTON (AP) — The International Monetary Fund predicted Friday that the U.S. economy will shrink 6.6% this year, pounded by the coronavirus and the lockdowns meant to contain it. The grim forecast is actually an upgrade from one the IMF made last month when it foresaw the American economy...
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FILE - In this June 10, 2020 file photo, a woman walks past a store with sale signs displayed at Great Lakes Mall, in Mentor, Ohio. The Federal Reserve says economic activity has picked up in most regions of the country but still remains well below pre-pandemic levels with the country facing high levels of uncertainty. The Fed reported Wednesday, July 15 that its latest survey of economic conditions around the country found improvements in consumer spending and other areas but said the gains were from very low levels seen when widespread lockdowns push the country into a deep recession. (AP Photo/Tony Dejak, File)
July 15, 2020 - 5:28 pm
WASHINGTON (AP) — The Federal Reserve says economic activity has picked up in most regions of the country but still remains well below pre-pandemic levels with the country facing high levels of uncertainty. The Fed reported Wednesday that its latest survey of economic conditions around the country...
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