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economic outlook

Vietnam sees 2016 growth at 6.2 pct, aided by building boom

HANOI, Vietnam (AP) — Vietnam’s economy is forecast to grow 6.2 percent in 2016, helped by a manufacturing and building boom. The General Statistics Office said Wednesday that this year’s growth rate is below 2015’s rate of 6.7 percent but is still considered a success given unfavorable global trends and …

No chicken, no cafes: Egyptians scrimp as prices leap

CAIRO (AP) — Money had already been tight as food and electricity bills climbed for weeks. So Ashraf Mahrous, a 45-year-old civil servant, warned his wife, “Black days are ahead,” when Egypt floated its pound and hiked fuel prices this month. Mahrous is now looking for a side job. Rising …

Stronger economy, cheap gas expected to spur holiday travel

NEW YORK (AP) — A stronger economy, rising consumer confidence and cheap gasoline will likely have Americans traveling in big numbers this Independence Day. An estimated 41.9 million people will travel 50 miles or more from home during the holiday weekend, up 0.7 percent from last year and the most …

World Bank slashes Thai growth forecast on unrest

HONG KONG (AP) — The World Bank slashed its economic growth forecast for Thailand on Monday because of ongoing political strife that is crimping domestic demand. The Washington-based organization forecast that Thailand’s economy would expand 3 percent this year, down from 4.5 percent growth it had forecast at the end …

Venezuelan oil diplomacy curbed by economic crisis

CARACAS, Venezuela (AP) — The late President Hugo Chavez’s dream of leveraging Venezuela’s oil wealth to spread revolution across Latin America is crumbling under the weight of an economic crisis that is forcing his hand-picked successor to cut back on generous foreign aid. Signs of the country’s waning influence are …

Thailand cuts economic growth outlook for 2013

BANGKOK (AP) — Thailand on Monday cut its economic growth forecast for this year after exports fell short of expectations and consumer spending faded. Southeast Asia’s second-largest economy is likely to grow 3 percent this year instead of 3.8-4.3 percent predicted in August, the National Economic and Social Development Board …