GDP slows in the first quarter as inflation concerns linger
GDP grew at an annualized rate of 1.4% in the first quarter of this year. (iStock) U.S. gross domestic product (GDP) grew at an annualized rate of 1.4% in the first quarter of 2024. Bureau of Economic Analysis data (BEA) found. The increase indicates that the economy is strong, but not growing at a significant […]
Australian Dollar appreciates despite lower GDP Q1 – FXStreet
The Australian dollar rose on Wednesday on a risk-on mood. Australia’s first-quarter GDP grew 0.1% from the previous quarter, below expectations of 0.2%. Caixin China Services PMI rose to 54.0 in May, marking the 17th consecutive month of expansion in services activity. The US dollar could rebound due to rising US Treasury yields. The Australian […]
GDP grew just 1.3% last quarter, consumer spending weaker than expected
The U.S. economy grew at a sluggish 1.3% annualized rate in January-March, the slowest quarterly growth rate since spring 2022, the government said Thursday, revising down its previous forecast. Consumer spending increased but at a slower pace than previously expected, suggesting that high interest rates and lingering inflation are putting pressure on household finances. The […]
Q1 GDP revised down on lackluster consumer spending
Consumer spending is slowing, dragging down the economy. (iStock) of Second estimate According to the Bureau of Economic Analysis (BEA), the forecast for real gross domestic product (GDP) for the first quarter of 2024 has been revised downward due to a larger-than-expected decline in consumer spending. BEA’s second estimate showed real GDP grew at an […]
GDP Revised Down To A Slower 1.3% Growth Rate
The U.S. economy grew at a slower rate than previously thought in the first three months of the year, expanding at just a 1.3% annual rate, according to revised government data. The downward revision was mainly due to data showing that consumer spending growth was much slower than previously estimated. That was the slowest growth […]
Take the Government Out of GDP
Editors’ Note: a substantial portion of what Bidenonmics calls “growth”, is the growth of government, an unproductive part of the economy. A better read on the economy can be had by removing government and seeing how the productive part of the economy is faring. The picture is not healthy as a combination of increased regulation […]
US Government Interest Payments v. Tax Receipts, Average Interest on Treasury Debt, & Debt to GDP
Spiking Interest payments will hopefully, knock on wood, force the drunken sailors in Washington to go through detox. The gigantic US government debt is now approaching $33 trillion, amid a tsunami of issuance of Treasury securities to fund the mind-blowing government deficits and roll over maturing securities. At the same time, the Fed has hiked its […]
We Can Likely Be Fiscally Sustainable with ‘Higher Ratio of Debt to GDP’
In an interview with Bloomberg on Monday, Treasury Secretary Janet Yellen said that even with a rate hike, interest rates are lower than they have been in decades, so “we can probably get out on a fiscally sustainable path.” Ta. [a] The debt-to-GDP ratio is slightly high. ” Yellen said President Joe Biden’s budget proposal […]
US first quarter GDP slows more than expected, but inflation keeps rising
The latest GDP statistics show that the economy remains strong, but growth is slowing. (iStock) US gross domestic product (GDP) fell faster than expected first quarterBut a key measure used by the Federal Reserve to measure inflation continued to rise, according to the Bureau of Economic Analysis (BEA). Real GDP grew at an annualized rate […]
US economy cools as GDP growth hits lowest level since 2022 , inflation remains sticky to send Dow spiraling
Markets plunged Thursday as U.S. economic growth slowed to its slowest pace in two years in the first quarter, while inflation accelerated further, as President Joe Biden faces a brighter outlook for U.S. households heading into his re-election campaign. was cloudy. According to data released by the Department of Commerce, gross domestic product (GDP) grew […]