GDP – News Stories About GDP - Page 5

Feb 27, 2009 8:09 AM CST

GDP Drop Worst in 26 Years

Worse than anticipated

(Newser) - The US economy contracted at a staggering 6.2% pace at the end of 2008, the worst showing in more than a quarter-century, as consumers and businesses ratcheted back spending, plunging the country deeper into recession. That's drastically worse than the 3.8% the government originally estimated, and the 5....

Obama Budget Relies on Rosy Growth Estimates

Feb 26, 2009 5:38 PM CST

Obama Budget Relies on Rosy Growth Estimates

(Newser) - President Obama is more optimistic about the nation's economic prospects than most economists, Bloomberg reports. His budget plan forecasts a GDP contraction of 1.2% this year, followed by a 3.2% expansion in 2010. The median forecast of economists calls for a contraction of 2% this year and growth...

GDP Nosedives Across Atlantic

Feb 13, 2009 6:20 AM CST

GDP Nosedives Across Atlantic

4th-quarter GDP drop signals worsening recession

(Newser) - We're not alone: The euro zone’s recession worsened in the fourth quarter of last year as its GDP saw its biggest decline since records began in 1995, the Wall Street Journal reports. The GDP contracted 1.5% quarter-to-quarter and 1.2% since the year before, EU figures showed. Germany,...

Second-Half Rebound?
Don't Bank On It

Feb 12, 2009 8:05 PM CST

Second-Half Rebound? Don't Bank On It

(Newser) - Economists say the prospects of a recovery in the second half of the year are looking less and less likely, the Wall Street Journal reports. Most economists surveyed predict the nation's GDP will grow in the third quarter by a measly 0.7%, less than half the rate predicted 6...

Dow Off 149,
Down 8.8% for Month

MARKETS

Jan 30, 2009 3:18 PM CST

Dow Off 149, Down 8.8% for Month

GDP report ends month of layoffs, losses

(Newser) - Stocks extended losses today off the news of a 3.8% decline in US GDP for the fourth quarter, ending a turbulent month, MarketWatch reports. The report capped a week of widespread layoffs and poor earnings at major US firms. Amazon.com was a rare exception, up 18% on strong...

Stocks Flat After GDP Sinks

MARKET Open

Jan 30, 2009 8:43 AM CST

Stocks Flat After GDP Sinks

(Newser) - Stocks shrugged their shoulders at the open, unsure what to make of a grim, but better-than-expected GDP report. The Dow rose 31 points, while the S&P inched up 4.6 points, and the Nasdaq climbed 15. GDP shrunk 3.8% in the fourth quarter, the biggest contraction in 26...

US Biz Climate Worst in Nearly
3 Decades

Jan 26, 2009 9:19 AM CST

US Biz Climate Worst in Nearly 3 Decades

Survey finds strapped firms are pessimistic about 2009

(Newser) - A deepening recession in the fourth quarter of 2008 has business conditions for US firms at their worst levels in 27 years, reports Reuters. A National Association of Business Economics survey also showed decreasing expectations for a turnaround in 2009, with most poll respondents expecting the recession to worsen and...

China's Q4 Economic Growth Slows

Jan 22, 2009 9:00 AM CST

China's Q4 Economic Growth Slows

Economy grew by 9% in 2008, down sharply from 13% in 2007

(Newser) - China’s economy expanded at 9% in 2008, in a drastic slowdown marking the first time China has seen single digit growth since 2002, reports the Wall Street Journal. A soft export market and its own housing collapse slowed fourth-quarter growth to just 6.8%, threatening the government’s baseline...

Bush Years Were Dark for US Economy

Jan 12, 2009 11:49 AM CST

Bush Years Were Dark for US Economy

'We really went nowhere for almost 10 years,' says economist

(Newser) - The Bush years have not been good ones for the economy, the Washington Post reports, based on an analysis of economic data and discussions with economists of all stripes. Job growth for Bush’s tenure amounts to just 2%, the smallest 8-year gain on record, and GDP grew at its...

Stocks Flat on Minimal Trading

MARKET Open

Dec 23, 2008 8:51 AM CST

Stocks Flat on Minimal Trading

Everyone's on vacation

(Newser) - It was a sleepy open on Wall Street today, as the major stock indexes mostly jogged in place on low volume, the Wall Street Journal reports. The Dow inched up 50 points, while the Nasdaq and S&P lost 0.6% and 0.7% respectively. The government reported a third-quarter...

US Already a Year Into Recession: Economists

Dec 1, 2008 12:51 PM CST

US Already a Year Into Recession: Economists

Non-traditional measurement based on employment, other statistics

(Newser) - The US economy has been in a recession since employment peaked in December 2007, a committee of economists declared today. However, MarketWatch notes, the private National Bureau of Economic Research rejects the traditional metric that recession is defined as consecutive quarters of GDP decline, opting instead to look at four...

Japan Sinks Into Recession

Nov 17, 2008 2:39 AM CST

Japan Sinks Into Recession

Economic downturn could last a year

(Newser) - The financial crisis rippling through the global economy has claimed another casualty as Japan has slipped into its first recession in seven years, Reuters reports. Third quarter statistics reveal a 0.1% contraction in Japan's Gross Domestic Product. Japanese economists warn the nation could languish in recession for an entire...

Short-Term Solutions to Crisis Won't Cut It: Sachs

OPINION

Nov 10, 2008 2:15 PM CST

Short-Term Solutions to Crisis Won't Cut It: Sachs

Economist argues for systemic adjustment

(Newser) - The financial crisis can't be averted, and the Obama administration would be wise to accept that and concentrate on "a steady policy that will steer us through an unavoidable short-run recession to arrive at a much healthier economy within three to five years," writes Jeffrey Sachs for the...

Dow Rises 189 After GDP News

MARKETS

Oct 30, 2008 3:29 PM CDT

Dow Rises 189 After GDP News

Early news on shrinking GDP can't keep indices from rising

(Newser) - The markets held ground after an early rally today, with investors shrugging off a smaller-than-expected fall in third-quarter US gross domestic product and remaining cautiously optimistic over yesterday’s Fed rate cut, MarketWatch reports. The Dow closed up 189.73 at 9,180.69. The Nasdaq rose 41.31 to...

Dow Surges Despite GDP Dip

MARKETS

Oct 30, 2008 9:07 AM CDT

Dow Surges Despite GDP Dip

Drop isn't as bad as feared, and rate cuts abroad cheer US traders

(Newser) - Stocks jumped at the opening bell, as international rallies helped offset a shrinking US economy, the Wall Street Journal reports. Gross domestic product shrank at a seasonally adjusted 0.3% annual rate from July to September; the not-as-bad-as-feared figure sent the Dow up 201 points at the open before dipping...

Spending Dive Sends
GDP Down

Oct 30, 2008 8:28 AM CDT

Spending Dive Sends GDP Down

Economists fear prolonged recession inevitable as numbers erode

(Newser) - The US economy shrank less than expected in the third quarter but still suffered the biggest contraction since the 2001 recession, reports Bloomberg. The gross domestic product fell 0.3%, led by the first fall off of consumer spending in two decades. The figure, out from the Commerce Department this...

China Blames Crisis in Latest GDP Slide

Oct 21, 2008 1:27 PM CDT

China Blames Crisis in Latest GDP Slide

Growth at solid 9%, but down for 5th quarter in row as exports shrink

(Newser) - The dragon isn’t sick yet, but it’s definitely catching cold: China’s gross domestic product grew by an enviable 9% in the third quarter, but still failed to match last quarter’s result of 10.1%, the Guardian reports. The data mark the first time China’s GDP...

Consumers Squeezed, Spending Stalls

Oct 3, 2008 10:45 AM CDT

Consumers Squeezed, Spending Stalls

As prices rise, wages fall and unemployment jumps, spending growth has stalled

(Newser) - The current economic crisis is shaping up to be different than others Americans have weathered in the past 20 years in an important respect, the Washington Post reports: consumer spending, which the nation could always count on to propel the economy through, has stalled. Real spending, the catalyst behind 70%...

Up Day Still Means Down Week

MARKETS

Sep 26, 2008 3:47 PM CDT

Up Day Still Means Down Week

WaMu spooks markets, but optimism over bailout remains strong

(Newser) - Stocks lost value for most of today’s session as progress slowed on the Wall Street bailout plan, but turned sharply higher in the last few trading hours, MarketWatch reports. Despite mixed gains today, all indices saw losses during a tumultuous week. The Dow gained 121.07 to 11,143....

Stocks Rally on GDP Revision

MARKETS

Aug 28, 2008 3:15 PM CDT

Stocks Rally on GDP Revision

MBIA's jump leads insurers higher, and lower energy prices power big gains

(Newser) - Stocks rallied today as MBIA led gains for bond insurers and the news of an upward revision to the second-quarter US gross domestic product brightened investor sentiment, MarketWatch reports. The Dow rose 212.67 to close at 11,715.18. The Nasdaq gained 29.18, closing at 2,411.64,...