US Economic Growth for Q2 Revised Down to 2.1%; Job Growth Slows Sharply
The government had previously estimated that the economy expanded at a 2.4% annual rate last quarter. read more >
The government had previously estimated that the economy expanded at a 2.4% annual rate last quarter. read more >
Just a month ago, the economy appeared to be cooling and inflation steadily declining. But a spate of government data has since painted a very different picture. read more >
It now expects the world economy to grow 2.9% this year. That forecast is better than the 2.7% expansion for 2023 that the IMF predicted in October. read more >
“There are signs of structural economic change underway,” Metroplan said in a December report, pointing to the area’s manufacturing and logistics sectors in particular. read more >
Most economists think the economy will slow further in the current quarter and slide into at least a mild recession by midyear. read more >
Health care, including costs, is the second-most frequently mentioned priority. read more >
Though the United States might avoid a recession this year — the World Bank predicts the U.S. economy will eke out growth of 0.5% — global weakness will likely pose another headwind for America's businesses and consumers, on top of high prices and more expensive borrowing rates. read more >
The rise in gross domestic product — the economy's output in goods and services — marked a return to growth after consecutive drops in the January-March and April-June periods. read more >
It's a sharp rebound, pushing the index to its highest level since April. read more >
Last quarter's rise in the U.S. gross domestic product — the economy's total output of goods and services — followed two straight quarters of contraction. read more >
Despite the negative outlook, however, most Americans — particularly those with higher incomes — are still spending. read more >
The business groups led by the U.S. Chamber of Commerce, National Association of Manufacturers and National Retail Federation said even a short-term strike would have a tremendous impact and the economic pain would start to be felt even before the Dec. 9 strike deadline. read more >
Thomas will fill the unexpired portion of a three-year term ending Dec. 31, 2023. read more >
In another sign the labor market remains tight and employers unwilling to let workers go, layoffs dropped in September to 1.3 million, fewest since April. read more >
New figures show 5% growth in just the past two years, presenting strains — and opportunities — for the region. read more >
Economists noted that the third-quarter gain in GDP could be traced entirely to the surge in exports, which added 2.7 percentage points to the economy's expansion. read more >
The FDIC attributed most of the improvement to the stronger economy in 2021, as the coronavirus pandemic restrictions largely expired and there were low levels of unemployment. read more >
Reflecting the dimmer macroeconomic view, Citigroup, Wells Fargo and JPMorgan socked away cash in their loan-loss reserves. read more >
Biden has staked his presidency on what he has called "a historic manufacturing boom," hoping to succeed where past presidents, governors and hordes of other politicians have struggled for a half-century. read more >
In its previous estimate for the April-June quarter, the government had estimated that the economy had shrunk at a 0.9% rate. read more >
