Economy News

The European Union said on Friday there were just hours left to strike a Brexit trade deal while Britain called on the bloc to see sense as the two sides race to prevent a turbulent finale to the Brexit crisis at the end of the month.

The U.S. current account deficit surged to its highest level in more than 12 years in the third quarter as a record rebound in consumer spending pulled in imports, outpacing a recovery in exports.

China will maintain policy support for its economic recovery, avoiding a sudden shift in policy, to help keep economic growth within a reasonable range in 2021, the Xinhua news agency said on Friday, after a meeting of top leaders ended.

WASHINGTON (Reuters) -Backed into a corner, the U.S. Congress on Friday risked blowing through a midnight deadline to keep the government open and address the coronavirus crisis, as a partisan fight over federal lending rules caused a fresh delay on a $900 billion COVID-19 relief bill.

The Bank of Japan on Friday unveiled a plan to examine more effective ways to achieve its 2% inflation target, following in the foot steps of its U.S. and European peers as a renewed spike in infections threatened to derail a fragile recovery.

Japan raised its economic growth forecast for the next fiscal year thanks to its latest stimulus package aimed at speeding up the recovery following the damage wrought by the coronavirus pandemic.

High demand for industrial goods, brighter export expectations and government support for companies hit by lockdowns to slow the spread of the coronavirus contributed to an unexpected rise in German business morale in December, a survey showed on Friday.

With homebound Americans making record numbers of online holiday purchases and snowy streets worsening a logjam for shipping companies, retailers are enticing shoppers to pick up orders in person to ensure their stockings are stuffed Christmas morning.

As U.S. housing starts surged in November to close in on 14-year highs, keeping builders and contractors on the job, consumer spending slumped and in particular the flow of people back to restaurants reversed itself as the coronavirus pandemic intensified.