us-recession | ABS-CBN News

US growth slows in 2022 as downturn fears loom

Beiyi Seow, Agence France-Presse
Posted at Jan 27 08:26 AM

The US economy grew at a slower pace in 2022 but performed better than expected in the final months of last year, the Commerce Department said, as recession fears loomed. Read more »

Global stocks mixed on China data, drop in European gas prices

Agence France-Presse
Posted at Jan 18 08:26 AM

Global stocks were mixed Tuesday following data showing China's growth slowed sharply in 2022 as European gas prices hit another 16-month low on fading fears of a winter supply crunch. Read more »

Recession in US 'not inevitable': Yellen

Agence France-Presse
Posted at Dec 09 08:28 AM

A recession in the US is "not inevitable," Treasury Secretary Janet Yellen said, adding that she believes the world's biggest economy is on the right track in lowering inflation. Read more »

Biden admits 'very slight' US recession possibility

Agence France-Presse
Posted at Oct 12 12:18 PM

US President Joe Biden conceded Tuesday that a "slight" recession was a possibility following a downcast IMF economic forecast, amid rising inflation and uncertainty after the Russian invasion of Ukraine. Read more »

Oil tumbles on recession worries as US stocks rebound

Agence France-Presse
Updated as of Sep 08 04:52 PM

US oil prices finished Wednesday at their lowest level since January on growing recession fears. Read more »

US recession not 'inevitable,' Treasury secretary says

Brian Knowlton, Agence France-Presse
Posted at Jun 20 09:14 AM

A recession in the United States is not "inevitable" but the economy is likely to slow, Treasury Secretary Janet Yellen said, days after the US Federal Reserve hiked interest rates, raising fears of a contraction. Read more »

US trade deficit widens as exports fall to lowest level since 2009

Reuters
Posted at Jul 02 11:16 PM

The US trade deficit widened in May as the COVID-19 pandemic pushed exports to their lowest level since 2009, strengthening expectations the economy will contract in the second quarter at its steepest pace since the Great Depression. Read more »

US economy entered recession in February, business cycle arbiter says

Howard Schneider, Reuters
Posted at Jun 09 09:21 PM

The US economy ended its longest expansion in history in February and entered recession as a result of the coronavirus pandemic, the private economics research group said on Monday. Read more »

US pandemic layoffs pass 42 million with 1.87 million new weekly claims

Agence France-Presse
Posted at Jun 04 10:14 PM

The ranks of US workers laid off at least temporarily by the coronavirus pandemic exceeded 42 million, with 1.87 million new jobless benefit claims filed last week, the Labor Department said. Read more »

US processes over $500 billion in small business loans to stem virus fallout

Reuters
Posted at May 04 12:01 AM

The US Small Business Administration has processed over 3.8 million loans for more than half a trillion dollars since the launch of the Paycheck Protection Program on April 3 to deal with the economic fallout of the coronavirus outbreak, according to a joint statement by the SBA and the Treasury Department. Read more »

JPMorgan CEO Dimon calls 'bad recession', mulls suspending 2020 dividend

Anirban Sen and Elizabeth Dilts Marshall, Reuters
Posted at Apr 06 09:40 PM

Questions are mounting about whether big US banks will have to cut dividends later this year as the coronavirus crisis puts a record portion of Americans out of work, making it difficult for borrowers to pay back loans. Read more »