Economic Outlook

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 - 7:45 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 bank's president, Christine Lagarde, offered the estimate at a news...
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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 3, 2020. Asian shares are rising after Wall Street extended its gains for the third straight day, driven by optimism over economies reopening from shutdowns to stem the coronavirus pandemic. (AP Photo/Ahn Young-joon)
KNSS News
June 03, 2020 - 3:08 pm
Stocks closed higher on Wall Street, extending the market’s winning streak to a fourth day. The S&P 500 rose 1.4% Wednesday. Investors are hoping that the economy will continue to open up following the lockdowns put in place to stem the spread of the coronavirus. Treasury yields also rose in a...
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FILE - In this May 21, 2020 file photo, a man looks at signs of a closed store due to COVID-19 in Niles, Ill. U.S. businesses shed 2.76 million jobs in May, as the economic damage from the historically unrivaled coronavirus outbreak stretched into a third month. The payroll company ADP reported Wednesday that businesses have let go of a combined 22.6 million jobs since March.AP Photo/Nam Y. Huh, File)
June 03, 2020 - 2:01 pm
WASHINGTON (AP) — The epic damage to America’s job market from the viral outbreak will come into sharper focus Friday when the government releases the May employment report: Eight million more jobs are estimated to have been lost. Unemployment could near 20%. And potentially fewer than half of all...
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A woman poses for a photo by the "Lennon Wall" with a face mask attached to the image of John Lennon, in Prague, Czech Republic, Monday, April 6, 2020. (AP Photo/Petr David Josek)
June 02, 2020 - 9:35 am
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Tuesday related to the national and global response, the work place and the spread of the virus. ________________________ SPENDING: — With countries starting to loosen...
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A woman wearing a face mask walks past a bank electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, June 1, 2020. Asian stock markets have rebounded after U.S. President Donald Trump avoided reigniting a trade war with China amid tension. (AP Photo/Vincent Yu)
June 01, 2020 - 11:01 pm
TOKYO (AP) — Shares were mostly higher in Asia on Tuesday, lifted by moves to reopen many regional economies from shutdowns aimed at containing the coronavirus pandemic. Benchmarks rose in Tokyo, Hong Kong and Seoul but fell in Shanghai and Sydney. Jakarta’s main index jumped 2% and Singapore’s was...
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Amber Kirtley, left, and Jeff Gullo drink beers at Dacha Beer Garden in the Shaw neighborhood in Washington, Friday, May 29, 2020, as the District of Columbia gradually loosens stay-at-home rules that have been in place since March 25 because of the pandemic and allows restaurants to resume outdoor dining. (AP Photo/Andrew Harnik)
May 29, 2020 - 4:55 pm
WASHINGTON (AP) — With new U.S. economic numbers highlighting the rough road ahead for a hoped-for rebound, President Donald Trump on Friday took aim at the World Health Organization and China, blaming both for their roles in the pandemic's devastation. Trump announced that the United States will...
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FILE - In this Feb. 20, 2020, file photo President Donald Trump arrives to speak at a campaign rally at The Broadmoor World Arena in Colorado Springs, Colo. As the economy faces a once-in-a-century recession, with more than 38 million people out of work, Trump is increasingly talking up a future recovery that probably won't materialize until after the November election. (AP Photo/Evan Vucci, File)
May 28, 2020 - 11:06 pm
WASHINGTON (AP) — The White House has taken the unusual step of deciding not to release an updated economic forecast as planned this year, a fresh sign of the administration's anxiety about how the coronavirus has ravaged the nation just months before the election. The decision, which was confirmed...
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A family peers from the window of their home as they wait to receive boxes of free food, during a lockdown to curb the spread of the new coronavirus, in Bogota, Colombia, Monday, May 4, 2020. The U.N. World Food Program is warning that upward of at least 14 million people could go hungry in Latin America as the coronavirus pandemic rages on, shuttering people in their homes, drying up work and crippling the economy. (AP Photo/Fernando Vergara)
May 27, 2020 - 10:04 pm
BOGOTA, Colombia (AP) — The U.N. World Food Program is warning that upward of at least 14 million people could go hungry in Latin America as the coronavirus pandemic rages on, shuttering people in their homes, drying up work and crippling the economy. New projections released late Wednesday...
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May 26, 2020 - 8:59 pm
SAN JUAN, Puerto Rico (AP) — A federal control board that oversees Puerto Rico’s finances said Tuesday that the island could be hit with a deficit earlier than expected and see its surplus plunge by 65% in upcoming years, warning the government cannot afford to pay current debt obligations. The...
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FILE - In this April 21, 2020, file photo, a man rides his bike on Waikiki Beach in Honolulu. The coronavirus pandemic has been particularly brutal to the tourism-dependent economies of Nevada and Hawaii, lifting the unemployment rate in both states to about one-quarter of the workforce. (AP Photo/Caleb Jones, File)
May 26, 2020 - 2:07 pm
WASHINGTON (AP) — U.S. consumer confidence inched up this month, showing signs of stabilizing, but remained near a six-year low in the face of the widespread business shutdowns that have sent the economy into recession. The Conference Board said Tuesday that its confidence index ticked up to a...
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