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US Economy Slowed More Than Expected

GDP misses mark in first quarter, causing Dow futures to sink

(Newser) - The nation's economy slowed last quarter, growing at an annual rate of 1.6% in a sign that the high interest rates may be taking a toll on borrowing and spending, per the AP .
  • A slip: Thursday's report from the Commerce Department said the gross domestic product—the

New GDP Report Is Surprisingly Strong

Economy grew 3.3% in final quarter of 2023, well ahead of expectations

(Newser) - The nation's economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households, per the AP . Most analysts had predicted growth of 2% for the...

Inflation, Interest Rates Put a Dent in Economic Growth

GDP rose by a weaker-than-expected 1.1% in latest quarter

(Newser) - The US economy slowed sharply from January through March, decelerating to just a 1.1% annual pace as higher interest rates hammered the housing market and businesses reduced inventories. Thursday’s estimate from the Commerce Department showed that the nation’s gross domestic product—the broadest gauge of economic output—...

GDP Growth Returns, but Economists Still Predict Recession
US Economy Bounces Back,
but It Might Be Short-Lived

US Economy Bounces Back, but It Might Be Short-Lived

Things are worse than growth figures suggest, analysts say

(Newser) - The US economy grew at a better-than-expected 2.6% annual rate from July through September, snapping two straight quarters of economic contraction and overcoming punishingly high inflation and interest rates, the A P reports—but many economists say the outlook is worse than the figures suggest. Thursday's estimate from...

GDP Report Contains Informal Sign of a Recession

US economy shrank for 2nd quarter in a row

(Newser) - The US economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession. The decline that the Commerce Department reported Thursday in the gross domestic product—the broadest gauge of the economy—...

Congressional Budget Office: Deficit Will Shrink, Then Surge

It released an economic outlook Wednesday

(Newser) - The Congressional Budget Office released an economic outlook Wednesday saying that high inflation will persist into next year, likely causing the federal government to pay higher interest rates on its debt. The nonpartisan agency expects that the consumer price index will rise 6.1% this year and 3.1% in...

US Economy Shrinks for the First Time Since 2020

But experts say the economy is still robust

(Newser) - In the first quarter of 2022, the US economy shrank for the first time since COVID sent it into a "deep, dark hole" in 2020—but economists believe the fall in GDP is a blip, not a sign the US is entering a recession again. The economy contracted at...

New GDP Number Marks a Milestone for Economy

'Officially back and fully recovered,' declares 'Washington Post'

(Newser) - The new GDP numbers are out, and they show that the economy grew at a fast pace in the second quarter—though not quite as fast as expected.
  • The number: The nation's gross domestic product increased by 6.5% from April through June, below expectations of 8.4%, reports

2020 Economy Worst Since World War II

GDP fell by 3.5%, though final quarter showed growth

(Newser) - The final report on the 2020 economy is in, resulting in bleak historical comparisons but also hope for a better 2021. In terms of the specific numbers, the economy grew by 4% in the final quarter of the year, below estimates of 4.3%, reports CNBC . For the full year,...

US Economy Grows at Record Pace, With an Asterisk

GDP expands at 33% annual rate after previous quarter's plunge

(Newser) - The last major report card on the economy before the election is out, and expect to hear President Trump making a big deal out of it. The Commerce Department reported Thursday that the economy grew at a record annual rate of 33% in the third quarter, per the AP . As...

Final GDP Number Is One for the Record Books: 31.4%

That's the Q2 contraction

(Newser) - The US economy plunged at a record rate in the spring but is poised to swing to a record increase in the quarter that just ended. The Commerce Department reported Wednesday in its final estimate for the April-June quarter that the gross domestic product, the economy’s total output of...

This Is the Cost of Going a Day Without a Mask

It equals a $56.14 loss in GDP: 'Economist'

(Newser) - "Governments should do even more to nudge the minority of people who still forgo masks" into wearing them, according to the Economist , which has discovered the economic value to such a move. The paper determined that each American who wears a face mask for one day "is helping...

UK Recession Is Basically the Worst
UK Recession Is
Basically the Worst

UK Recession Is Basically the Worst

Its economy contracted by more than any other major economy in Q2

(Newser) - It's a double whammy for the UK, which as of Wednesday claims not just Europe's worst coronavirus death toll, but also the worst recession of any major economy. Stats released Wednesday show the UK's GDP shrank 20.4% in the second quarter after a 2.2% loss...

Virus Did Unprecedented Things to the GDP

It fell by a staggering 33% annual rate in 2nd quarter

(Newser) - Economists were bracing for an awful report card Thursday in regard to the pandemic, and it was indeed awful. The US economy shrank by an unprecedented 33% annual rate in the April-to-June quarter, reports the Wall Street Journal . It is by far the worst figure for gross domestic product since...

'Devastating Force' of Virus Rampages Through Q1 GDP

US economy shrank at 4.8% annual rate last quarter—and it's estimated to fall 40% in Q2

(Newser) - The US economy shrank at a 4.8% annual rate last quarter as the coronavirus pandemic shut down much of the country and began triggering a recession that will end the longest economic expansion on record. The Commerce Department says the gross domestic product, the total output of goods and...

Economic Growth Slowest in 3 Years
Economic Growth
Slowest in 3 Years

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...

Budget Deficit Nears 'Unprecedented' Level

The CBO says it will top $1 trillion, again

(Newser) - An annual congressional report says the US budget deficit is likely to burst through the symbolic $1 trillion barrier this year despite a healthy economy, the AP reports. Tuesday's Congressional Budget Office report follows a burst of new spending last year and the repeal in December of several taxes...

New GDP Number Is One Trump Once Assailed
New GDP Number
Is Out. Here's
What It Means
the rundown

New GDP Number Is Out. Here's What It Means

Growth slips to 1.9% in 3rd quarter but beats expectations

(Newser) - The summer temps may have been record-setting hot, but the economy experienced some chills. Data out Wednesday via the Commerce Department shows GDP grew at a 1.9% rate from July through September, down from a growth rate of 2% in the second quarter. Why, what it means, and President...

GDP Report Has Good News and Bad News
GDP Report Carries
a Mixed Message

GDP Report Carries a Mixed Message

Growth slows, but consumer spending takes off

(Newser) - The US economy slowed sharply in the April-June quarter even as consumers stepped up their spending, per the AP . The gross domestic product, the economy's total output of goods and services, grew at a 2.1% annual rate last quarter, down from a 3.1% gain in the first...

GDP Growth Much Better Than Expected

President Trump's 3% bar is exceeded

(Newser) - The US economy grew at a solid 3.2% annual rate in the first three months of the year, up from 2.2% at the end of 2018, for a far better outcome than expected, per the AP . However, about half the gain reflected two factors not expected to last—...

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