GDP
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GDP Holds Steady at 0.6% in the First Quarter
By Jennifer Yousfi Managing Editor The U.S. economy averted recession in the first quarter, as real gross domestic product (GDP) for the U.S. economy grew 0.6% in the first quarter, the Bureau of Economic Analysis announced yesterday (Wednesday). "The increase in real GDP in the first quarter primarily reflected positive contributions from personal consumption expenditures [...] -
With a Rate Decision, GDP Report Due Today, the Fed Walks the High Wire Again
By Jennifer YousfiAnd William Patalon IIIMoney Morning Editors If U.S. Federal Reserve policymakers make the expected quarter-point rate cut at the end of their meeting today (Wednesday), the impact will be felt well beyond U.S. borders. Indeed, the interest-rate reduction could set in motion a series of diverse global events that will impact such seemingly [...]
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Fourth Quarter GDP Unrevised; Flat First Quarter Expected
By Jennifer Yousfi Managing Editor The U.S. economy only grew 0.6% in the fourth quarter of 2007. "The credit crunch and rising inflation teamed to put the economy flat on its back in the final three months of 2007," IDEAglobal economist Joseph Brusuelas told Thomson Financial News. The U.S. Bureau of Economic Analysis released its [...]
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Slow Growing U.S. GDP Unchanged Sending Markets and Dollar Lower
By Jennifer Yousfi Managing Editor The preliminary gross domestic product (GDP) figure for the fourth quarter of 2007 was 0.6%, unchanged from the advance figure released last month, the Commerce Board announced yesterday (Thursday). Analysts had expected a slight upward revision in GDP to 0.7% and the confirmed lower figure sent markets tumbling. At [...]
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Japan's GDP Jumps 3.7% in Face of Low Expectations and Troubled U.S. Market
By Jason Simpkins Associate Editor The Japanese economy defied expectations – and a weak U.S. market – to grow at an annualized rate of 3.7% in the fourth quarter, the Cabinet Office said yesterday (Thursday). "The GDP number was a big, positive surprise to the market," Takehiro Sato, chief economist for Japan at Morgan Stanley [...]
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India Forecasts 9% GDP Growth and $30 Billion in Overseas Investment in 2008
By Mike Caggeso Associate Editor Despite the rocky start forecasted in U.S. markets, analysts and government officials in India are calling for 9% GDP growth and $30 billion of overseas investment by the end of 2008. Lehman Brothers Holdings Inc. (LEH) said India's economy – the second-fastest growing major economy – is at the "take-off [...]
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Consumer Confidence at Lowest Level in Two Years
By Jennifer Yousfi Managing Editor Consumer confidence has reached its lowest level since the post-Katrina period, according to the Reuters/University of Michigan preliminary index of consumer sentiment for November. At 74.5, the index is at its lowest level since October 2005. This is bad news for Wall Street, which hopes that strong consumer spending will [...]
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Corporate Profits Dwindle Even as GDP Surges
By Jennifer YousfiManaging Editor A mixed report from the Commerce Department indicates the U.S. economy continues to grow even as corporate profits start to show the strain of a weakening domestic market. The report cited preliminary estimates for third quarter 2007 gross domestic product (GDP) and corporate profits. GDP was revised upward to 4.9%, an [...]
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Fed’s Minutes Reveal a Unanimous Decision to Slash Rates
By Jason Simpkins Staff Writer Fed policymakers – concerned the credit crunch and housing slump could take a heavy toll on economic growth – voted unanimously to cut interest rates by half a percentage point at their Sept. 18 meeting. Fed policymakers unanimously agreed to slash interest rates by one-half percentage point to 4.75 percent, [...]
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Dow Rallies After Early Concerns Subside
By Jason Simpkins Staff Writer U.S. stocks posted moderate gains yesterday (Monday) – rebounding from early setbacks – as still-fretting investors get ready to navigate a stretch that will be largely bereft of corporate earnings reports or critical economic reports. The Dow Jones Industrial Average climbed 42.27 points, or 0.32%, yesterday to close at 13,125.35, [...]
