economic growth

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Within the Fed, a Split Emerges Over Rate Cuts

At least two members, Trump appointees, say it's time

(Newser) - As debate intensifies inside the Federal Reserve, a second top official has publicly called for interest rate cuts as early as next month. Michelle Bowman, the Fed's vice chair for supervision, said Monday that the time has come to consider lowering rates, as inflation is easing and signs...

Europe's Central Bank Cuts Rates Amid Trade Tensions

President Christine Lagarde warns of slower economic growth

(Newser) - The European Central Bank on Thursday did what President Trump is imploring America's central bank to do—cut interest rates. The ECB lowered its key rate from 2.5% to 2.25%, which the Wall Street Journal reports is its seventh cut in eight meetings. The bank cited...

World Bank Issues Bleak Forecast for Global Economy

It slashes predictions for growth all over, including the US

(Newser) - The global economy will come “perilously close" to a recession this year, led by weaker growth in all the world's top economies—the United States, Europe, and China—the World Bank warned Tuesday, per the AP . In an annual report, the World Bank said it had slashed its...

Economic Growth Slowest in 3 Years
Economic Growth
Slowest in 3 Years
Jan 30, 2020 11:22 AM CST

Economic Growth Slowest in 3 Years

US economy grew at a rate of 2.1% in the 4th quarter of 2019, 2.3% all year

(Newser) - The US economy grew at a moderate 2.1% rate in the final three months of 2019, capping a year when growth slowed significantly due to a weaker global economy and trade war uncertainties, the AP reports. The Commerce Department reported Thursday that the fourth-quarter increase in the gross domestic...

Shutdown's Permanent Toll on Economy Is a Small One

By year's end, GDP will be 0.02% smaller because of the shutdown

(Newser) - The federal government shutdown will cause slight permanent harm to the economy—about $3 billion—according to a report Monday by the Congressional Budget Office. The report says the five-week shutdown has slowed growth in the near term but that most of the lost growth "will eventually be recovered,...

Trump Breaks Tradition on GDP Figures

He says numbers will be 'unthinkable'

(Newser) - It's not traditional for presidents to comment on economic growth figures before they are released, but President Trump isn't exactly a stickler for tradition. At a rally at an Illinois steel plant on Thursday, Trump predicted that the numbers released by the Commerce Department on Friday morning would...

Economy Grew Faster Than Expected in Spring
GDP Grows at Fastest
Rate in 2 Years
Aug 30, 2017 11:55 AM CDT

GDP Grows at Fastest Rate in 2 Years

Economy grew 3% in 2nd quarter, higher than expected

(Newser) - The US economy rebounded sharply in the spring, growing at the fastest pace in more than two years amid brisk consumer spending on autos and other goods, per the AP . The gross domestic product, the broadest measure of economic health, grew at an annual rate of 3% in the April-June...

Top Threat to Rare Languages: Growing Economies

Zoologist turns from endangered animals to endangered tongues

(Newser) - There are some 6,909 languages spoken today, but many are on the decline, and the biggest reason, researchers find, is economic growth. Researchers studied the 649 languages for which growth and decline data was available to determine the leading factors driving the change, Science magazine reports. In order to...

Economic Growth Plummets to 0.1%

Weaker-than-predicted figure blamed on weather

(Newser) - The US economy slowed drastically in the first three months of the year as a harsh winter exacted a toll on business activity. The sharp slowdown, while worse than expected, is likely to be temporary as growth rebounds with warmer weather. The economy's growth slowed to a barely discernible...

2010 Clinton Speech Could Trip Obama Today

Because he's giving his speech today in the same place

(Newser) - President Obama is set to give a speech in Ohio today, but his choice of venue might prove kind of awkward. Bill Clinton spoke at the same Cleveland-area community college ahead of the 2010 elections, USA Today points out, and he said these unwise-in-hindsight words: "We found a big...

If Payroll Tax Cuts Expire, Here's What Happens...

...according to economists, who share their forecasts with WaPo

(Newser) - We know the "what": The payroll tax cut is set to expire within days, meaning changes to jobless benefits and doctors who treat Medicare patients will kick in, and the average American will miss out on $40 a paycheck . The Washington Post explores the "what does it mean"...

Economy Surges, But Trouble Looms

Q4 economy up 3.7%, but slowdown dangers lie ahead

(Newser) - Surging economic data, such as new construction, small business confidence, and initial jobless benefit claims, show the American economy is growing at the fastest clip since the recession started—at 3.7% annualized in the fourth quarter, that's four times faster than it was growing at the start of...

Recession Worse Than Thought; GDP Growth Weak

Economy grew just 1.3% over past three months

(Newser) - We already knew the Great Recession was the worst in decades, but in fact we were even worse off than we thought, new figures show. The economy shrank 5.1% over the course of the recession, from 2007 to 2009—1 percentage point worse than the earlier estimate of 4....

GDP Grows 2% in 3Q
 GDP Grows 2% in Q3 
Oct 29, 2010 8:54 AM CDT

GDP Grows 2% in Q3

Growth fits economists' predictions

(Newser) - The economy grew slightly faster over the summer as Americans spent a little more freely: The GDP grew at a 2% rate during the third quarter, in line with what economists had forecast. It marks a slight improvement over last quarter, when the GDP grew at a 1.7% rate....

Asian Billionaires Storm Forbes Richest List

China adds remarkable share of world's newly minted billionaires

(Newser) - Asian magnates are the huge scorers in the annual Forbes list of the world’s billionaires, with 234 making the cut this year, compared to 130 last year. That's 23% of the 1,011 people worldwide on the list, up from 16%. And Asia is minting new billionaires like mad:...

Economy Growing at Fastest Pace Since 2003

Last quarter of 2009 saw GDP growth of 5.7%

(Newser) - The US economy grew for a second straight quarter from October through December, posting a better-than-expected 5.7% annual rate—the fastest quarterly pace since 2003. The Commerce Department report is the strongest evidence to date that the worst recession since the 1930s ended last year, though an academic panel...

Economy Grows in Q3, Signals End of Recession

Tenuous 3.5% growth is best showing in two years

(Newser) - The economy grew at a 3.5% pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes. The Commerce Department's report today delivered the strongest signal yet that the economy entered a new, though fragile, phase of recovery and that the...

In Recovery, Business Will Profit at Workers' Expense

Short-term outlook 'great for business, terrible for households'

(Newser) - The economy is slowly improving, but companies will see the benefits long before the unemployed and underemployed will, Bloomberg reports. A Department of Labor report released yesterday found that the average workweek is at a near-record low of 33.1 hours. The lack of uptick in part-time hours is an...

Hong Kong, Singapore Emerge From Recession

(Newser) - Hong Kong emerged from the recession with a bang last quarter, posting better-than-expected growth of 3.3% from April to June. The Chinese territory suffered four quarters of contraction but came out of the red thanks to a pickup in exports and increased private consumption. Singapore also blasted out of...

France, Germany Pull Out of Recession

(Newser) - The two largest economies in Europe pulled out of the recession last quarter, with Germany and France both posting 0.3% growth between April and June, reports the Wall Street Journal. The figures were far better than expected, and the French finance minister described the result as "very surprising....

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