Recessions and depressions

In this Sept. 18, 2019, photo a Puckett Machinery Company technician walks past a new heavy duty Caterpillar excavator that awaits modification at Puckett Machinery Company in Flowood, Miss. On Tuesday, Oct. 1, the Institute for Supply Management, a trade group of purchasing managers, issues its index of manufacturing activity for September. (AP Photo/Rogelio V. Solis)
October 01, 2019 - 11:11 am
WASHINGTON (AP) — U.S. factory activity hit its lowest level in more than a decade, as President Donald Trump's trade wars take a toll on American manufacturing. The Institute for Supply Management, an association of purchasing managers, said Tuesday that its manufacturing index shrank for the...
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In this Sept. 30, 2019, photo, a signboard says "Consumption tax hike, 8 percent to 10 percent", at a mass home electronics retailer in Tokyo. Japan has raised consumption tax to 10 percent from 8 percent, amid concerns that it could sink the Japanese economy though government officials say ample measures are taken to minimize the impact. (Shinji Kita/Kyodo News via AP)
October 01, 2019 - 4:14 am
TOKYO (AP) — Japan raised its national sales tax to 10% from 8% on Tuesday, risking short-term pain for the sake of the country's future financial stability as it copes with a fast aging and shrinking population. Previous tax increases, a 2-point increase to 5% in 1997 and another to 8% in 2014,...
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FILE - In this Sept. 18, 2019, photo stock prices are displayed at the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Monday, Sept. 30. (AP Photo/Mark Lennihan, File)
September 30, 2019 - 4:39 pm
NEW YORK (AP) — U.S. stocks climbed on Monday and gave one last nudge to ensure the S&P 500 emerges from yet another tumultuous quarter with a modest gain. As has been the case throughout the quarter, movements in President Donald Trump's trade war with China helped drive the market on Monday...
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European Central Bank President Mario Draghi addresses European Parliament members at the European Parliament in Brussels, Monday, Sept. 23, 2019. (AP Photo/Francisco Seco)
September 30, 2019 - 10:32 am
FRANKFURT, Germany (AP) — European Central Bank head Mario Draghi says that stimulus measures including negative interest rates will have to stay in place longer if governments do not step up spending to help growth. Draghi was quoted Monday by the Financial Times as saying: "Our policies will...
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Britain's Prime Minister Boris Johnson, centre, arrives at the Conservative Party Conference in Manchester, England, Sunday Sept. 29, 2019. Johnson headed Sunday to the Conservative Party conference in Manchester, where the party is widely expected to endorse government plans to spend more on the country's National Health Service. (Stefan Rousseau/PA via AP)
September 29, 2019 - 10:21 am
LONDON (AP) — Prime Minister Boris Johnson has refused to be drawn on whether he had asked one of his fellow European Union leaders to veto an extension to the scheduled Brexit departure date on Oct. 31. Johnson came to office in July, promising to leave the EU — do or die — by Halloween. The House...
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FILE - In this Sept. 6, 2019, file photo passengers board a ferry that departs from Port Everglades in Fort Lauderdale, Fla. On Thursday, Sept. 26, the Commerce Department issues the third and final estimate of how the U.S. economy performed in the April-June quarter. (AP Photo/Brynn Anderson, File)
September 26, 2019 - 9:05 am
WASHINGTON (AP) — The U.S. economy grew at a modest 2% annual rate in the second quarter, a pace sharply lower than the 3%-plus growth rates seen over the past year. Many analysts believe growth will slow further in coming quarters as global weakness and rising trade tensions exert a toll. The...
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European Central Bank President Mario Draghi addresses European Parliament members at the European Parliament in Brussels, Monday, Sept. 23, 2019. (AP Photo/Francisco Seco)
September 23, 2019 - 12:35 pm
FRANKFURT, Germany (AP) — The head of the European Central Bank says the economy in the 19-country eurozone is not showing signs of a rebound and urged governments to help by spending more on top of the central bank's latest package of stimulus measures. Mario Draghi said in remarks Monday before...
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This Thursday, Oct. 16, 2014 file photo shows President and CEO of the Federal Reserve Bank of Boston Eric Rosengren in Chelsea, Mass. Rosengren,s who opposed the September 2019 quarter-point rate cut, says that the additional stimulus was not needed. (AP Photo/Michael Dwyer)
September 20, 2019 - 12:36 pm
WASHINGTON (AP) — Two Federal Reserve officials who dissented from this week's quarter-point rate cut on Friday highlighted the current deep divisions at the central bank. Eric Rosengren, head of the Fed's Boston regional bank and one of two officials who opposed the rate cut, said Friday that the...
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A commuter walks past a huge sign of the new pump prices of gasoline and diesel following its implementation Tuesday, Sept. 17, 2019, in suburban Valenzuela city north of Manila, Philippines. Monday saw another round of oil price increase in the country which energy officials said is not related to the recent attacks in Saudi Arabia but has cautioned the public to brace for more spikes in the coming days. (AP Photo/Bullit Marquez)
September 17, 2019 - 2:36 pm
DALLAS (AP) — The price of gasoline crept higher after a weekend attack devastated Saudi Arabian oil output, but if the disruption to global supplies is short-lived, the impact on the U.S. economy will probably be modest. Prices spiked Monday by more than 14%, their biggest single-day jump in years...
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A man looks at an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, Sept. 13, 2019. Stocks were broadly higher in Asia on Friday after gains overnight on Wall Street. Investors have stepped up buying on hopes for an easing of tensions in the costly trade war between the U.S. (AP Photo/Eugene Hoshiko)
September 13, 2019 - 5:54 am
BANGKOK (AP) — World shares were mostly higher on Friday, buoyed by fresh stimulus from the European Central Bank and hopes for progress in China-U.S. trade talks. Germany's DAX picked up 0.1% to 12,426.92 and the CAC 40 in France added 0.2% to 5,651.91. But Britain's FTSE 100 gave up 0.2% to 7,327...
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