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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: GDP

GDP stories: 60 news summaries

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 Record $1.4T Deficit 
 Imperils Recovery 

Gap dwarfs FY2008 figure, spells trouble for new stimulus plans

Oct 16, 09 6:35 PM CDT
(Newser) - The federal deficit in the fiscal year that ended Sept. 30 was $1.4 trillion, lower than projected but still a record. At 10% of GDP, the figure is the largest since 1945, when the deficit was 21.5% of GDP. The figure made public today coincides with early rumblings... More »

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GDP • budget deficit • economic stimulus package • US gross domestic product • Office of Management and Budget • Obama administration • President Obama • Peter Orszag • White House budget director

MARKETS

 Dow Up 3 as Stocks 
 Stall Ahead of Reports 

Investors await consumer confidence, housing, GDP data

Aug 24, 09 3:22 PM CDT
(Newser) - Stocks closed near to opening levels today, with the Dow just barely extending its winning streak into a fifth session, the Wall Street Journal reports. All the indices hit new highs for 2009 early, boosted by housing data, investors pulled back ahead of looming reports on consumer confidence, new home... More »

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Dow Jones • home sales • consumer confidence • Nasdaq • GDP • new home sales • S&P 500

(Newser) - The Federal Reserve has slowed its recovery-minded plan to purchase Treasury securities but said that "economic activity is leveling out," the Wall Street Journal reports. The Fed’s policy committee hopes to complete its $300 billion purchase of Treasury securities by October—originally slated for September—and... More »

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Federal Reserve • recession • GDP • Treasury Department • Treasury bills • interest rates • economists • economic recovery

MARKETS

 Dow Up 17 to End 
 Best Month Since '02 

Nasdaq falls in today's session, but enjoys big monthly gains

Jul 31, 09 3:15 PM CDT
(Newser) - Data which showed a slowing pace of decline for US gross domestic products fueled modest advances in the markets today, with the Dow finishing its best month since October 2002, the Wall Street Journal reports. Bank of America and Alcoa paced advancers, and the Dow closed up 17.15 at... More »

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Bank of America • Dow Jones • Alcoa • Nasdaq • GDP • S&P 500 • financial crisis • economic recovery

(Newser) - The US economy contracted in the second quarter, but it was a mild decline that beat analyst estimates, Bloomberg reports. GDP fell 1%, less than the 1.5% economists predicted, and a heck of a lot less than the 6.4% and 5.4% drops seen in the two... More »

MORE ABOUT:
economic indicators • consumer spending • GDP • economy

Analysis

Good News: We've Hit Bottom!

Of course, the
bad news is:
We've hit bottom!

Jul 24, 09 9:13 AM CDT
(Newser) - Former Fed vice chairman Alan Blinder has some good news and some bad news about the economy, and it’s the same news: We’ve hit bottom. Third-quarter GDP should turn positive, and the fourth quarter could even hold an upside surprise. Growth of 3% or even 4% is utterly... More »

MORE ABOUT:
Federal Reserve • US economy • GDP • economy • Alan Blinder • US gross domestic product • financial crisis

(Newser) - If economists are right, the worst is over for the US economy. In a survey released today by the National Association for Business Economics, 74% of economists said the recession would end in the third quarter. But the coming recovery won’t be a strong one, they warned. Job losses... More »

MORE ABOUT:
recession • consumer spending • economist • GDP • National Association for Business Economics • financial crisis

US Trading Partners See Huge GDP Falls

Mexico contracts
21.5% as American demand dries up

May 21, 09 6:16 AM CDT
(Newser) - Yesterday Mexico became the latest country to disclose a sharp economic contraction as a result of the slowdown in US consumption of imported goods. Mexican GDP fell at an annualized rate of 21.5% in the first quarter, following Germany, down 14.4%, and Japan, 15.2%—its worst performance... More »

MORE ABOUT:
Germany • Japan • Mexico • globalization • recession • global economy • US economy • GDP • NAFTA • Japanese economy • financial crisis

OPINION

To Cut Deficit, Rein in Health Costs: Orszag

Budget director makes White House's case
for cutting expenses

May 15, 09 10:35 AM CDT
(Newser) - With the future of Medicare and Social Security in the headlines, the Obama administration is jumping at the chance to push its health care reform agenda. Up today: budget director Peter Orszag. "Slower growth rate in overall health-care spending would help to promote and sustain a slowdown in... More »

MORE ABOUT:
health care costs • Medicare • budget • Medicaid • national debt • GDP • Obama administration • Peter Orszag • White House budget director

 German Economy Dives 3.8% 

Quarterly fall in GDP is worst in over 40 years

May 15, 09 7:28 AM CDT
(Newser) - The German economy has suffered its worst decline in more than 40 years, with GDP shrinking by 3.8% in the first quarter of 2009. The fall is the most severe on record and worse than economists had predicted, reports the Guardian. News of the contraction in Europe's largest nation... More »

MORE ABOUT:
Germany • Europe • global economy • GDP • euro • recession depression

(Newser) - Our long national nightmare could soon be over: Top economic forecasters expect the recession to end by the second half of this year, Reuters reports. In a new survey, experts predict the GDP will shrink by 2.8% this year but edge up 1.9% in 2010. Even so, economists... More »

MORE ABOUT:
growth • recession • unemployment • economist • GDP • economy

Experts Fret as Americans Squirrel Away Income

Savings rate jumps over job, portfolio fears

May 9, 09 2:46 PM CDT
(Newser) - Even after the economy rebounds, the US will likely remain a nation of penny pinchers—and that has economists worried, the New York Times reports. Consumer spending accounts for 70% of the country’s GDP, but Americans, fretting over job security and losses in the housing and stock sectors, are... More »

MORE ABOUT:
consumer • recession • consumer spending • GDP • savings • economy • thrift

 China's GDP Crawls, 
 But Worst May Be Over 

Growth sinks below 'danger line' but experts believe rebound is coming

Apr 16, 09 2:10 AM CDT
(Newser) - China's GDP growth fell to its lowest level last quarter since Beijing started keeping records in 1992, the Wall Street Journal reports. The 6.1% growth, however, is in line with forecasts and actually seen as decent news by many economists. Data on loans and industrial growth suggest that the... More »

MORE ABOUT:
China • GDP • Chinese economy • economic stimulus package • Chinese exports

 US Household Wealth 
 Falls Record $5.1T 

Combined five-quarter drop is nearly as big as US GDP for 2008

Mar 12, 09 2:19 PM CDT
(Newser) - The wealth of US households fell at a record pace in the last quarter of 2008, as drops in home values and stock prices accelerated, Bloomberg reports. Net worth for households and non-profits fell $5.1 trillion to $51.5 trillion, nearly twice the decline between the second and third... More »

MORE ABOUT:
stock market • United States • GDP • home prices • home values • economy • recession depression

MARKET Open

 Stocks Plunge on GDP, Citi 


Feb 27, 09 8:44 AM CST
(Newser) - Stocks took an early dive today, as investors digested a bleak GDP report and Citigroup’s new rescue package, the Wall Street Journal reports. The Dow tumbled about 125 points, while the S&P lost 2%. The Nasdaq dropped 1.1%. Citigroup shares plummeted 31% after it announced a deal... More »

MORE ABOUT:
stock market • Citigroup • Dow Jones • Nasdaq • GDP • S&P 500

 GDP Drop Worst in 26 Years 

Worse than anticipated

Feb 27, 09 8:09 AM CST
(AP) - The US economy contracted at a staggering 6.2% pace at the end of 2008, the worst showing in more than a quarter-century, as consumers and businesses ratcheted back spending, plunging the country deeper into recession. That's drastically worse than the 3.8% the government originally estimated, and the 5.... More »

MORE ABOUT:
economic indicators • recession • consumer spending • GDP • Department of Commerce • economy • recession depression

(Newser) - President Obama is more optimistic about the nation's economic prospects than most economists, Bloomberg reports. His budget plan forecasts a GDP contraction of 1.2% this year, followed by a 3.2% expansion in 2010. The median forecast of economists calls for a contraction of 2% this year and growth... More »

MORE ABOUT:
economic growth • deficit • GDP • federal budget • economy • President Obama

 GDP Nosedives Across Atlantic 

4th-quarter GDP drop signals worsening recession

Feb 13, 09 6:20 AM CST
(Newser) - We're not alone: The euro zone’s recession worsened in the fourth quarter of last year as its GDP saw its biggest decline since records began in 1995, the Wall Street Journal reports. The GDP contracted 1.5% quarter-to-quarter and 1.2% since the year before, EU figures showed. Germany,... More »

MORE ABOUT:
European Union • Europe • recession • GDP • euro • euro zone

(Newser) - Economists say the prospects of a recovery in the second half of the year are looking less and less likely, the Wall Street Journal reports. Most economists surveyed predict the nation's GDP will grow in the third quarter by a measly 0.7%, less than half the rate predicted 6... More »

MORE ABOUT:
recession • recovery • GDP • economy • economic downturn

MARKETS

 Dow Off 149, 
 Down 8.8% for Month 

GDP report ends month of layoffs, losses

Jan 30, 09 3:18 PM CST
(Newser) - Stocks extended losses today off the news of a 3.8% decline in US GDP for the fourth quarter, ending a turbulent month, MarketWatch reports. The report capped a week of widespread layoffs and poor earnings at major US firms. Amazon.com was a rare exception, up 18% on strong... More »

MORE ABOUT:
layoffs • Dow Jones • earnings reports • Nasdaq • GDP • S&P 500 • Amazon.com • Amazon

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