New jobs created printed at 253,000 on May 5, according to the Establishment Survey, well above market expectations of 180,000 jobs. Net revisions were down 149,000 jobs from February and March. That makes the average three-month creation of 222,000 jobs. The Household Survey, which is compiled from different data, showed 139,000 people were newly employed. Both…
April Jobs Prints at 253,000, but With 149,000 Downward Revisions
May 5, 2023
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First Quarter GDP: Weakness
Commentary Economic activity in the first quarter disappointed. Real gross domestic product (GDP) grew at a paltry 1.1 percent annual pace between January and March. That was better news than a zero-to-negative figure that would have indicated recession but a poor showing, nonetheless. The detail behind this overall measure painted an even less attractive picture,…
Eurozone Grows Marginally at Start of 2023 After Stagnation
BRUSSELS—The eurozone grew only marginally in the first three months of 2023 and at a rate lower than market expectations after stagnation at the end of last year, preliminary data showed on Friday. Gross domestic product in the eurozone expanded by 0.1 percent in the first quarter, below expectations in a Reuters poll for 0.2…
US Economy Unexpectedly Slows to 1.1 Percent in First Quarter
The U.S. economy expanded by 1.1 percent in the first quarter, down from 2.6 percent in the fourth quarter, according to the Bureau of Economic Analysis (BEA). This also came in below economists’ expectations of 2 percent. This was the slowest quarterly growth since the second quarter of 2022. Growth in the real GDP was…
US Economic Growth Slows Sharply in First Quarter As Interest Rates Rise
The U.S. economy expanded by 1.1 percent in the first quarter, down from 2.6 percent in the fourth quarter, according to the Bureau of Economic Analysis (BEA). This also came in below economists’ expectations of 2 percent. This was the slowest quarterly growth since the second quarter of 2022. The Federal Reserve’s higher interest rates…
US Economic Growth Slows Sharply in 1st Quarter as Interest Rates Rise
The U.S. economy expanded by 1.1 percent in the first quarter, down from 2.6 percent in the fourth quarter, according to the Bureau of Economic Analysis (BEA). This also came in below economists’ expectations of 2 percent. This was the slowest quarterly growth since the second quarter of 2022. The Federal Reserve’s higher interest rates…
As UK Economy Flatlines, Hunt Says IMF’s Forecast Is Too Pessimistic
Chancellor Jeremy Hunt has said the International Monetary Fund (IMF) has “undershot” its forecast for the UK in five out of the last six years. The IMF has predicted the UK economy would contract by 0.3 percent this year but Hunt, who is attending the fund’s spring meeting in Washington, said the IMF was “just…
UK Economy Flatlines in February After Recovering to Pre-Pandemic Levels
There has been no monthly growth in the UK’s economy in February, the Office for National Statistics (ONS) estimated on Thursday. Teacher and civil service strikes may have acted as one of the biggest drags on GDP, with thousands of workers walking out during the month. But revised GDP figures for January showed that the economy…
IMF Raises Russian GDP Estimates for 2023
The International Monetary Fund (IMF) upwardly revised its GDP estimates for Russia in 2023, despite ongoing sanctions against the country by the United States. A report released Tuesday predicts Russian GDP will increase by 0.7 percent, a slightly more positive outlook than that of the organization’s January report and a significant improvement since the October…
BRICS Creating New Currency Backed by Gold, Soil, Rare-Earth Elements | Facts Matter
While the media in America has been laser-focused on the arrest and indictment of former President Donald Trump, the rest of the world hasn’t stopped spinning. Instead, many of the United States’ geopolitical rivals are taking this opportunity, while America is distracted, to make their moves. For instance, the BRICS nations (an organization, similar to…
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