GDP

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GDP Growth Revised Down to Anemic 1.3%

On the bright side, jobless claims fell

(Newser) - US economic growth was even worse than we thought in the April-June quarter, growing at a pace of just 1.3%, the Commerce Department announced today, down from its previous estimate of 1.7%. About half of that big revision reflected the punishing effect the summer's drought has had...

Economy Shows Signs of Life: GDP Jumps 2.5%

Meanwhile, new unemployment claims fell

(Newser) - The US’ total economic output shot up 2.5% from July through September, after two dismal quarters of rising just 0.4% and 1.3%, according to a new GDP report released today. Consumers amped up their spending on both durable goods and services, and business investments soared 16.3%—...

AP Poll of Economists: Double-Dip Recession Unlikely, But Growth Will Be Slow
Next 12 Months: No Recession, but Slow Growth
economists say
Aug 23, 2011 2:55 PM CDT

Next 12 Months: No Recession, but Slow Growth

Risk of recession at 26%; unemployment likely 9% at year's end

(Newser) - Despite a bombardment of bad news in recent weeks, economists don’t expect another recession over the next 12 months—but economic growth will barely be perceptible in that period, an AP poll of top economists finds. They expect high unemployment and weak consumer spending to dog the US into...

Second Phase of Double-Dip Recession Could Be Even Worse
Brace Yourself for Even
Worse 2nd Recession
analysis
Aug 8, 2011 8:33 AM CDT

Brace Yourself for Even Worse 2nd Recession

Could devastate a still-ailing economy, writes Catherine Rampell

(Newser) - Economists say we could be headed for a second recession—and if they’re right, it’s poised to be even more devastating than the first, writes Catherine Rampell in the New York Times . That’s because the starting point for the second dip would be our current weak economy,...

Crash May Have Been Worse Than Thought
Crash May Have Been Worse Than Thought
nate silver
Aug 4, 2011 12:57 PM CDT

Crash May Have Been Worse Than Thought

Nate Silver sees bad things in long-term GDP graph

(Newser) - Need a pick-me-up given today's depressing stock news ? Then be advised that Nate Silver's column in the New York Times is not for you. The stats guru plots GDP going back to 1877 and sees signs that our recent "economic crash was even worse than economists...

Recession Worse Than Thought; GDP Growth Weak

Economy grew just 1.3% over past three months

(Newser) - We already knew the Great Recession was the worst in decades, but in fact we were even worse off than we thought, new figures show. The economy shrank 5.1% over the course of the recession, from 2007 to 2009—1 percentage point worse than the earlier estimate of 4....

Sorry, Our Economic &lsquo;Recovery&rsquo; Is Tanking
 Sorry, Our Economic 
 ‘Recovery’ Is Tanking 
henry blodget
Apr 28, 2011 12:13 PM CDT

Sorry, Our Economic ‘Recovery’ Is Tanking

Weak GDP growth is only the latest sign: Henry Blodget

(Newser) - The general consensus these days is that the economy is enjoying a steady if unspectacular recovery, writes Henry Blodget at Business Insider . After all, stocks and corporate profits are up and the unemployment rate is down. In a column headlined "Don't Mean To Be Rude, But The Economy...

Only 12% Chance We'll Return to Recession
Only 12% Chance We'll Return to Recession
say economists
Feb 14, 2011 8:39 AM CST

Only 12% Chance We'll Return to Recession

Forecast fastest expansion in years on consumer spending

(Newser) - Economists are growing more optimistic about this year’s climate, predicting it will expand at its fastest pace since 2003, the Wall Street Journal reports. The paper polled 51 economists. Among the highlights:
  • Economists see only a 12% risk of returning to recession, compared to 22% in September.
  • In the
...

Economy Grew at 3.2% Rate in Q4

Consumer spending grew at fastest pace in 5 years

(Newser) - Spurred by consumer spending and a shrinking trade deficit, the economy grew at a 3.2% annual rate in the fourth quarter. That beats the previous quarter's 2.6% but falls short of analysts' expectations of 3.5%. Still, "a number above 3% should drive a stake through the...

Economy Grew Modestly in 3rd Quarter

2.6% rate beats predictions; economics optimistic for year's end

(Newser) - The US economy grew at a moderate pace last summer, reflecting stronger spending by businesses to replenish stockpiles. More recent barometers suggest the economy is gaining momentum in the final months of the year. Gross domestic product increased at a 2.6% annual rate in the July-September quarter, the Commerce...

Recession Ended Last June, Analysts Say

Tell that to the unemployed, who are likely to stay that way for years

(Newser) - Break out the champagne: The recession is over! In fact, it’s been over since June 2009, according to a new report from the National Bureau of Economic Research, an unofficial group that marks the start and end of such economic events. Things may not be great, the committee concluded,...

GDP Growth Slows to 1.6%
 GDP Growth Slows to 1.6% 
Aug 27, 2010 8:44 AM CDT

GDP Growth Slows to 1.6%

News comes ahead of Bernanke's big speech

(Newser) - The economy grew at a much slower pace this spring than previously estimated, mostly due to the largest surge in imports in 26 years and a slowdown in companies' restocking of goods. The nation's gross domestic product, the broadest measure of the economy's output, grew at a 1.6% annual...

China Passes Japan as No. 2 (or Will Soon)

Not everyone agrees on economic milestone

(Newser) - The US is the world's No. 1 economy, but who's No. 2? It depends who you ask. In the English-language version of the People's Daily Online , China declares that its newly revised GDP puts it in second place over Japan. But a slew of other observers, including the Wall Street ...

G20 Leaders Head Home, Vowing to Cut Deficits

Economic powers set goals for reducing public debt

(Newser) - The leaders of the Group of 20 nations wrapped up their 2-day summit today in Toronto, striking an agreement to reduce deficits over the next 3 to 6 years without endangering the global economic rebound. The major economic powers vowed to cut their deficits in half by 2013 and "...

US Debt to Hit $19.6 Trillion By 2015

Debt on course to exceed GDP for first time

(Newser) - America's national debt is now at a dizzying $13.6 trillion and will reach $19.6 trillion in 5 years, according to a Treasury Department report. By 2015 the debt will, for the first time, exceed the value of all goods and services produced in America in a year, reaching...

Louisiana Oil Industry Fears Drilling Ban Fallout

State projects loss of 20K jobs during 6-month moratorium

(Newser) - President Obama's 6-month drilling moratorium in the Gulf of Mexico is intended to head off another environmental disaster, but it may end up causing an economic one. The oil industry makes up one-sixth of Louisiana's GDP, and the state estimates the ban would result in 20,000 jobs lost, NPR...

Economy Expands at 3.2% Clip as Spending Rebounds

Consumer spending drives growth for third straight month

(Newser) - The economy grew at a solid 3.2% pace during the first quarter of this year as consumers boosted their spending by the most in three years. It marked the third straight quarterly gain, providing more hope that a recovery is in progress. Still, growth came in a tad shy...

Obama's Economics Are Working
 Obama's 
 Economics 
 Are Working 
analysis
Mar 10, 2010 1:11 PM CST

Obama's Economics Are Working

Ignore the political crowd, the president's been great for business

(Newser) - President Obama doesn't get much political credit for it, but the numbers show his economic policies have been a resounding success. Since he took office, the S&P 500 is up 41%, credit spreads have narrowed, commodity prices have surged, and housing prices have stabilized, writes Mike Dorning of Bloomberg...

Dow Rises 4 on Good GDP Data, Bad Housing News

GDP grows 5.9% in last quarter of 2009

(Newser) - Stocks closed out February by nudging into positive territory as investors weighed the news that GDP grew by 5.9% last quarter but existing-home sales plunged, the Wall Street Journal reports.
  • The Dow gained 4.23 points to close at 10,325.26.
  • The Nasdaq added 4.04, settling at
...

Dow Falls 46 on EU GDP
 Dow Falls 46 on EU GDP 
MARKETS
Feb 12, 2010 3:20 PM CST

Dow Falls 46 on EU GDP

China moves to tighten lending; tech proves resilient

(Newser) - Stocks closed mixed today as China's move to restrict lending and a low reading of EU GDP stoked worries about global economic health, the Wall Street Journal reports.
  • The Dow dropped 45.05 points to close at 10,099.14.
  • The Nasdaq gained 6.12, closing at 2,183.53.
...

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