Tag: economic growth

St. Louis Fed President Sees Continued US Economic Growth

The U.S. economy is expected to continue to grow this year even as the Federal Reserve raises interest rates sharply to bring down unacceptably high inflation, St. Louis Fed President James Bullard said on Thursday. The U.S. central bank’s monetary policy tightening, along with inflation running at more than three times the Fed’s 2 percent…


The Only Real Solution Is Economic Growth

News analysis Market sentiment changes by the day and hour. But as I write, financial markets are starting to look just a bit better. The reason is embarrassing for believers in sound money. The prevailing sense—and this could change tomorrow—is that the Federal Reserve is getting cold feet in its stated mission to crush inflation…


China’s Think-Tank Warns of Economic Slowdown Amid Property Sector Predicament

Advisers to Beijing on Dec.6 recommended a 2022 growth target that is lower than the target set for 2021 due to the persistent COVID-19 cases and the slowdown in the property sector. The world’s second-largest economy is likely to grow around 5.3 percent in 2022, according to an annual blue book issued by Chinese Academy of Social Sciences…


3rd-Quarter GDP Misses Expectations With Tepid Print of 2.1 Percent

America’s economy expanded at an annualized pace of 2.1 percent in the third quarter, updated Commerce Department figures showed on Nov. 24, and while that’s faster than the earlier “advance” estimate of 2.0 percent, it missed analyst forecasts for a 2.2 percent pace of growth. While Wednesday’s print came in below expectations and sharply lower…


Economic Growth Slows to 2 Percent on Slowdown in Consumer Spending and COVID-19 Impacts

The U.S. economy expanded at an annualized pace of 2.0 percent in the third quarter, a figure that is well below forecasts, driven down by a slowdown in consumer spending and a resurgence in COVID-19 cases that led to renewed restrictions and delays of reopening of businesses. Data released on Oct. 28 by the Commerce…


UK Borrowing Down by Half as Sunak Readies Budget

LONDON—British public borrowing fell by almost half in the first six months of the current financial year from a post-World War Two high a year earlier, when the economy faced the full force of the COVID-19 pandemic. Thursday’s official data will be welcome news for finance minister Rishi Sunak, who is due to present fresh…


IMF Sees Economic Growth With Higher Inflation for Mideast

DUBAI, United Arab Emirates—The Middle East is expected to see significant economic growth this year, but also soaring inflation and food prices, as coronavirus vaccines are unevenly rolled out across the region, the International Monetary Fund said Tuesday. The lender’s new report projects the region’s economies will grow by around 4 percent, while inflation will…


Goldman Cuts Forecast for US Economic Growth in 2021 and 2022

Goldman Sachs cut its U.S. economic growth target to 5.6 percent for 2021 and to 4 percent for 2022 citing an expected decline in fiscal support through the end of next year and a more delayed recovery in consumer spending than previously expected. The firm previously expected 5.7 percent gross domestic product (GDP) growth in…


UK Economic Rebound Stronger Than First Thought in Second Quarter

The UK’s economic bounce-back was faster than first thought in the second quarter as spending surged after lockdowns lifted, according to official figures. The Office for National Statistics (ONS) said gross domestic product (GDP) increased by 5.5 percent between April and June after being revised up from the initial estimation of 4.8 percent. The ONS…


Business Activity Growth Slows While Labor Cost Inflation Hits Record High: Chicago Fed

A new report from the Chicago Federal Reserve on business conditions in the central bank’s seventh district paints a picture of slowing growth and historically high price pressures, with labor cost inflation at a record high. The Chicago Fed Survey of Business Conditions, released on Sept. 13, shows that the headline business activity index fell to…