Recessions and depressions

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 - 12:07 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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Japan's Prime Minister Shinzo Abe leaves a venue after a news conference in Tokyo Monday, May 25, 2020. Abe lifted a coronavirus state of emergency in Tokyo and four other remaining areas on Monday, ending the restrictions nationwide as businesses begin to reopen. (Kim Kyung-hoon/Pool Photo via AP)
May 25, 2020 - 5:51 am
TOKYO (AP) — Japanese Prime Minister Shinzo Abe lifted a coronavirus state of emergency in Tokyo and four other remaining areas on Monday, ending the restrictions nationwide as businesses begin to reopen. Abe also unveiled a plan for a new stimulus package to support businesses hit by the pandemic...
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In this Tuesday, Feb. 25, 2020 file photo, workers complete an electric car ID.3 body at the assembly line during a press tour at the plant of the German manufacturer Volkswagen AG (VW) in Zwickau, Germany. The German economy shrank by 2,2 percent in the first quarter of the year compared to the same period in 2019 amid a global downturn linked to the coronavirus pandemic. Germany's Federal Statistical Office said Monday that it was the biggest quarterly decline since the 2008-2009 global financial crisis. (AP Photo/Jens Meyer)
May 25, 2020 - 3:00 am
FRANKFURT, Germany (AP) — A key indicator of German business outlooks bounced upward in May as more businesses and activities re-opened — but the index remained far below normal readings as Germany faced a long journey toward full recovery from the coronavirus downturn. Revised official figures...
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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 24, 2020 - 11:38 am
WASHINGTON (AP) — President Donald Trump has a new pitch to voters for this fall: Trust me. 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...
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A woman looks at signs at a store closed due to COVID-19 in Niles, Ill., Wednesday, May 13, 2020. (AP Photo/Nam Y. Huh)
Associated Press
May 21, 2020 - 5:39 am
WASHINGTON (AP) — More than 2.4 million people applied for U.S. unemployment benefits last week in the latest wave of layoffs from the viral outbreak that triggered widespread business shutdowns two months ago and sent the economy into a deep recession. Roughly 38.6 million people have now filed...
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FILE - In this April 24, 2020, file photo, a man wearing a face mask to help stop the spread of the new coronavirus stands in a middle of a walking street in the Shinjuku ward in Tokyo. Recession-hit Japan's exports plunged nearly 22% in April, the country's worst drop in more than a decade as the coronavirus pandemic slammed global demand, the Finance Ministry said Thursday, May 21, 2020. (AP Photo/Eugene Hoshiko, File)
May 20, 2020 - 10:41 pm
TOKYO (AP) — Recession-hit Japan's exports plunged nearly 22% in April, marking their worst drop in more than a decade, as the coronavirus pandemic slammed global demand for autos, machinery and chemicals. Imports fell 7% from a year earlier, according to Finance Ministry data released Thursday...
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In this March 3, 2020 file photo Federal Reserve Chair Jerome Powell speaks during a news conference in Washington. Powell is pledging to reveal the names and other details of the entities that borrow from the emergency programs the central bank has set up to offset the economic hit from the viral outbreak. In prepared testimony for a Tuesday, May 19, 2020 congressional hearing, Powell says the central bank will disclose the amounts borrowed and the interest rates it levies under its programs to provide credit for large corporations, state and local governments, and medium-sized businesses. (AP Photo/Jacquelyn Martin, file)
May 19, 2020 - 1:13 pm
WASHINGTON (AP) — Facing the gravest U.S. economic crisis in decades, Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell offered Congress contrasting views Tuesday of what the government's most urgent priority should be. Striking a theme frequently pushed by President Donald...
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Customers drink coffee at the Versailles restaurant and pastry shop in Lisbon, Monday, May 18, 2020. Some cafes and restaurants are reopening in Portugal on Monday. The government is gradually easing measures introduced to stem the spread of the new coronavirus. (AP Photo/Armando Franca)
May 18, 2020 - 10:13 am
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Monday related to national and global response, the work place and the spread of the virus. ________________________ DAY AFTER: States are trying to figure out the safest way...
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May 17, 2020 - 11:38 pm
MIAMI (AP) — Tropical Storm Arthur crawled closer to the North Carolina coast early Monday, amid threats of some minor flooding and rough seas as the system moves off the Southeast seaboard. Arthur formed Saturday in waters off Florida, marking the sixth straight year that a named storm has...
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FILE - In this March 1, 2020, file photo, a department store employee with a mask dresses a mannequin in Tokyo. Japan's economic growth plunged into recession in the first quarter as the coronavirus pandemic squelched production, exports and spending, and fears are growing worse times may lie ahead, according to a report on Monday, May 18, 2020. (AP Photo/Jae C. Hong, File)
May 17, 2020 - 8:23 pm
TOKYO (AP) — Japan's economic growth plunged into recession in the first quarter as the coronavirus pandemic squelched production, exports and spending, and fears are growing that worse times may lie ahead. The Cabinet Office reported Monday a 3.4% drop in the annual pace of seasonally adjusted...
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