US economy grew at 2.8 percent rate in second quarter, blowing past expectations
The U.S. economy grew at an annualized rate of 2.8% in the second quarter of 2024, according to new data released Thursday by the Commerce Department. Economists had expected gross domestic product (GDP) to grow 1.9% in the three months from April to June, close to the 1.4% growth in the first quarter of this […]
US economy grew at a 2.8% pace in the second quarter, more than expected
Claudia Thurm, chief economist at New Century Advisors, and Michael Kantrowitz, chief investment strategist at Piper Sandler, join “Making Money” to discuss whether the economy is on the brink of a recession. of U.S. Economy It grew at a faster pace than expected in early 2024 as consumers continued to loosen their purse strings despite […]
It Apparently Wasn’t the Economy, Stupid!
Estimated Reading Time: 6 minutes Democracy is the theory that the common people know what they want, and deserve to get it good and hard. H. L. Mencken The recent results of the mid-term elections have a number of pundits puzzled, including ourselves. It was felt that the economy would be dominant. Inflation is at the […]
Undocumented immigrants will boost economy, lower deficit, CBO says
According to a study by the Congressional Budget Office (CBO), the increase in the U.S. illegal immigrant population is expected to reduce the budget deficit by nearly $1 trillion over the next decade. CBO ForecastThese are based on the net amount of economic activity generated, taxes paid, and benefits allocated by the immigrant groups included […]
Dems’ $3.5 Trillion Spending Bill ‘Existential Threat’ to Economy
Estimated Reading Time: 3 minutes One of the nation’s leading economic and business groups is warning that the $3.5 trillion spending bill before Congress is an “existential threat” to the nation’s economy. The U.S. Chamber of Commerce has launched a six-figure television ad campaign targeting the proposed tax hikes in the measure that would be […]
IMF lowers outlook for US economy while warning of slower disinflation
The International Monetary Fund on Tuesday lowered its forecast for the U.S. economy in 2024 by 0.1 percentage point, putting annual growth at 2.6 percent. The firm maintained its forecast for global economic growth this year at 3.2% and raised its forecast for 2025 to 3.3% from 3.2% predicted in April. The international financial institution […]
China’s economy growing slower than expected as leaders meet for third plenum | China
China’s economy slowed more than expected in the fourth quarter, raising the possibility that a meeting of senior government officials in Beijing this week will announce efforts to reignite growth. China, the world’s second-largest economy, expanded 4.7% year-on-year in the April-June period. Office for National Statistics The results, released on Monday, were lower than the […]
China’s Economy Is Collapsing. Here’s Why You Should Worry
Estimated Reading Time: 3 minutes Chinese ruler Xi Jinping has staked his rule on making China larger, by annexing neighbors. Taiwan is not his only target. He needs success to assure a precedent-breaking third term as the Communist Party’s general secretary, but the Chinese people, preoccupied by a failing economy, are in no mood for […]
Inflation Falls Below Expectations As Economy Cools
Rising prices continue to weigh on the finances of the average American, with inflation falling slightly in June compared to a year ago, according to the latest data released by the Bureau of Labor Statistics (BLS) on Wednesday. According to the Bureau of Labor Statistics, the Consumer Price Index (CPI), a broad gauge of the […]
UK economy returned to growth in May | Office for National Statistics
The UK economy returned to growth in May after a slowing April, resuming its recovery from last year’s recession. Britain’s gross domestic product (GDP) grew 0.4% month-on-month, after registering zero growth in April when wet weather hit consumer spending, according to figures from the Office for National Statistics (ONS). City economists had expected growth of […]