Scattershot reopenings of retail stores, nail salons and restaurants around the country have not halted the flood of layoffs, with the government reporting Thursday that nearly three million people filed Continue Reading
The United Nations forecast Wednesday that the COVID-19 pandemic will shrink the world economy by 3.2% this year, the sharpest contraction since the Great Depression in the 1930s. The U.N.’s Continue Reading
Federal Reserve Chair Jerome Powell, in a sober review of where the U.S. economy stands on the cusp of its reopening, said on Wednesday the country could face an “extended Continue Reading
U.S. producer prices fell by the most since 2009 in April, leading to the largest annual decline in nearly 4-1/2 years, bolstering some economists’ predictions for a brief period of Continue Reading
World trade in goods is set to slump at a rate not seen since the global financial crisis in 2009, with estimates becoming increasingly gloomy over the past weeks, the Continue Reading
The economic paralysis caused by the coronavirus led in April to the steepest month-to-month fall in U.S. consumer prices since the 2008 financial crisis — a 0.8% drop that was Continue Reading
Job losses, well shut-ins, and bankruptcies have replaced the praise surrounding the shale oil boom that greatly enhanced America’s energy independence and gave President Trump a reason to tout energy Continue Reading
U.S. President Donald Trump ordered meat processing plants to stay open to protect the nation’s food supply even as workers got sick and died. Yet the plants have increasingly been Continue Reading
Factory workers began returning to assembly lines in Michigan on Monday, paving the way for the reopening of the U.S. auto sector but stoking fears of a second wave of Continue Reading
New Covid-19 outbreaks in South Korea , Germany and China have highlighted the challenge faced by governments seeking to loosen social restrictions, as millions of Europeans prepare for the tentative Continue Reading
An international team of researchers has used satellite images to map urban growth between 1985 and 2015. Each image captured 900 square meters of ground, a level of detail that Continue Reading
Concerns that extended factory lockdowns and social distancing rules will dent company profits prompted analysts to cut forecasts for Asian companies’ 2020 earnings by around 5.4% over the last month, Continue Reading
The staggering U.S. unemployment rate reported by the government on Friday amid coronavirus lockdowns may get even worse, Treasury Secretary Steven Mnuchin said on Sunday. “The reported numbers are probably Continue Reading
Some of President Donald Trump’s top economic advisers emphasized on Sunday the importance of states getting more businesses and offices open even as the pandemic makes its way to the Continue Reading
President Donald Trump says he resuscitated Barack Obama’s gasping economy and proceeded to build it to its strongest in generations. Now as record job losses mount across the country, the Continue Reading
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Equity markets rallied on Friday, hitting weekly highs, and oil prices gained as more governments around the world began gradually reopening their economies and Sino-American trade tensions eased. The optimism Continue Reading
It took just one month for the labor market in the world’s largest economy to capsize. It will take longer for the damage to be fully realized. In the harshest downturn Continue Reading
It took just one month for the labor market in the world’s largest economy to capsize. It will take longer for the damage to be fully realized. In the harshest downturn Continue Reading
The gulf between a buoyant Wall Street and withering Main Street, which has perplexed many investors for more than a month, was widened further on Friday by a rally in Continue Reading
As many parts of the world’s biggest economy begin to reopen after weeks of stay-at-home orders that slowed the spread of the coronavirus but gutted jobs, Americans should not expect Continue Reading
Bridget Bennett for The New York Times WASHINGTON — As the nation confronts unemployment levels not seen since the Great Depression, Congress and the Trump administration face a pivotal choice: Continue Reading
In the weeks before states around the country issued lockdown orders this spring, Americans were already hunkering down. They were spending less, traveling less, dining out less. Small businesses were Continue Reading
The economic catastrophe caused by the viral outbreak likely sent the U.S. unemployment rate in April to its highest level since the Great Depression and caused a record-shattering loss of Continue Reading
US total new vehicle sales in April slid by about 50% year over year as the coronavirus pandemic limited consumer and corporate purchasing activity during a full month of shelter-in-place Continue Reading
Italy and Spain, the two European countries most severely hit by the coronavirus, are suffering even deeper slumps after record contractions in the first quarter. Lockdowns that shut hotels and restaurants Continue Reading
German factories saw demand collapse in March, when measures to contain the coronavirus brought the economy to a sudden halt. Orders fell 15.6% from the previous month, the most since data Continue Reading
The European Union predicted Wednesday “a recession of historic proportions this year” due to the impact of the coronavirus with a drop in output of more than 7%, as it Continue Reading
U.S. manufacturing activity plunged to an 11-year low in April as the novel coronavirus wreaked havoc on supply chains, suggesting the economy was sinking deeper into recession. The survey from Continue Reading
With a flood of unemployment claims continuing to overwhelm many state agencies, economists say the job losses may be far worse than government tallies indicate. The Labor Department said Thursday Continue Reading
Twenty years ago, before climate change was as widely seen as the existential threat it is today, Germany embarked on an ambitious program to transform the way it produced electric Continue Reading
The public-health crisis sparked by the new coronavirus ricocheted through Europe’s economy in the first quarter, causing a record decline that was more severe even than in the U.S., an Continue Reading
The euro-area economy could shrink as much as 12% this year and fail to return to its pre-coronavirus size until the end of 2022, according to the European Central Bank. In Continue Reading
The U.S. economy contracted in the first quarter at its sharpest pace since the Great Recession as stringent measures to slow the spread of the novel coronavirus almost shut down Continue Reading
Devastated by the coronavirus, the U.S. economy is sinking. And the plunge is accelerating. Now, as some businesses in a few states start to trickle back to work, hopes are Continue Reading
The U.S. economy in the first quarter shrank at its fastest pace since the last recession as the coronavirus pandemic shut down large parts of the country, signaling the end Continue Reading
The eurozone economy contracted at a record rate and by more than expected in the first three months of the year and inflation slowed sharply as much economic activity in Continue Reading
The eyes of the retail world are on Germany, the first major Western economy to start reopening bigger stores. Companies large and small, which have been hammered by the COVID-19 Continue Reading
China’s nascent rebound from the historic contraction in the first quarter is already losing pace in April, amid signs of a global recession and still weak domestic demand. While March Continue Reading
Business activity in the U.S., Europe and Japan collapsed in April as governments tightened restrictions on movement and social interaction aimed at limiting the spread of the coronavirus, according to Continue Reading
Both Japan’s factory output and retail sales likely fell at a sharper pace in March as the coronavirus pandemic weighed more heavily across the broader economy, a Reuters poll showed. Continue Reading
The tidal waves of unemployment filings across the U.S. showed only the barest signs of abating last week as more than 4 million people applied for benefits, bringing the five-week Continue Reading
If you think one lockdown is painful enough, imagine a second. It is too soon to gauge the lasting impact of putting the US economy into a deep freeze for Continue Reading
The coronavirus pandemic battered Asian economies in April with social-distancing policies and business closures taking a particularly heavy toll on the region’s service sector firms, surveys showed on Thursday. The Continue Reading
Millions more are expected to be added to the jobless count. As the economic toll from the coronavirus pandemic mounts, the federal government is expected to report on Thursday that Continue Reading
Automakers are headed for a less-drastic U.S. sales collapse than feared, according to market researchers. Retail sales to consumers are down about 50%, a drop-off that wouldn’t be as steep as Continue Reading
Concerns are growing that any economic recovery later this year could prove short-lived because of a deadly resurgence of the coronavirus and a spike in bankruptcies and defaults, a wicked Continue Reading
Europe’s economy suffered a massive blow in April when government restrictions to contain the coronavirus left companies scrambling to stay afloat. An estimate of private-sector activity in the euro area plunged to Continue Reading
The collapse in oil prices is a warning. Anyone who has been swept up by the rally in stock markets since late March would be foolish to ignore it. Even by Continue Reading
In the pandemic economy, financial markets have flashed confusing economic signals, muddied by monetary support, the trading impulses of the fast money, and ever-more complex infection data. But this week the Continue Reading
