GDP

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For Gay Marriage to Pass, Economy Must Bounce Back

Prosperity will translate into more open-mindedness

(Newser) - New Jersey's senate voted down gay marriage less than a day before conservative Portugal's parliament gave it the thumbs-up, and that got Alex Balk thinking: What will it take for same-sex marriage to fly in the US? The answer, counterintuitive though it may seem: economic recovery. "Legislators are not...

Ignore Glimmers of Hope, Economy's Still in the Tank
Ignore Glimmers of Hope,
Economy's Still in the Tank
PAUL KRUGMAN
Jan 4, 2010 8:48 AM CST

Ignore Glimmers of Hope, Economy's Still in the Tank

If Obama takes his foot off the gas, it'll be 1937 all over again

(Newser) - Don’t believe the hype, ignore any rising GDP or employment figures, and whatever you do don’t call it a recovery—or we’re going to wind up right back where we started, argues Paul Krugman in the New York Times . There are indeed positive numbers coming, and with...

Q3 GDP Growth More Like 2.8% Than 3.5%

 Q3 GDP Growth More 
 Like 2.8% Than 3.5% 
FUZZY MATH DEPT
Nov 24, 2009 9:29 AM CST

Q3 GDP Growth More Like 2.8% Than 3.5%

Spending and home prices are up, but not enough to help jobs

(Newser) - The government’s optimistic reading of GDP growth in the 3rd quarter was distorted by a pair of rose-tinted glasses, it now says. The Commerce Department has revised its estimate down to 2.8% from 3.5% on evidence that stimulus programs like Cash for Clunkers and the homebuyers' tax...

Record $1.4T Deficit Imperils Recovery

Gap dwarfs FY2008 figure, spells trouble for new stimulus plans

(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...

Dow Up 3 as Stocks Stall Ahead of Reports

Investors await consumer confidence, housing, GDP data

(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...

Fed Holds Rates, Sees Economy 'Leveling Out'

(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 also...

Dow Up 17 to End Best Month Since '02
 Dow Up 17 to End 
 Best Month Since '02 
MARKETS
Jul 31, 2009 3:15 PM CDT

Dow Up 17 to End Best Month Since '02

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

(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...

GDP Slows Descent, Falls Just 1%

(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 previous...

Good News: We've Hit Bottom!
Good News: We've Hit Bottom!
Analysis
Jul 24, 2009 9:13 AM CDT

Good News: We've Hit Bottom!

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

(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...

Recession Will End Next Quarter: Economists

(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...

US Trading Partners See Huge GDP Falls

Mexico contracts 21.5% as American demand dries up

(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...

To Cut Deficit, Rein in Health Costs: Orszag
To Cut Deficit, Rein in Health Costs: Orszag
OPINION
May 15, 2009 10:35 AM CDT

To Cut Deficit, Rein in Health Costs: Orszag

Budget director makes White House's case for cutting expenses

(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...

German Economy Dives 3.8%
 German Economy Dives 3.8% 

May 15, 2009 7:28 AM CDT

German Economy Dives 3.8%

Quarterly fall in GDP is worst in over 40 years

(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...

Recession Could End in 3rd Quarter: Economists

(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...

Experts Fret as Americans Squirrel Away Income

Savings rate jumps over job, portfolio fears

(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...

China's GDP Crawls, But Worst May Be Over

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

(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...

US Household Wealth Falls Record $5.1T

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

(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...

Stocks Plunge on GDP, Citi
 Stocks Plunge on GDP, Citi 
MARKET Open
Feb 27, 2009 8:44 AM CST

Stocks Plunge on GDP, Citi

(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...

GDP Drop Worst in 26 Years
 GDP Drop Worst in 26 Years 
Feb 27, 2009 8:09 AM CST

GDP Drop Worst in 26 Years

Worse than anticipated

(Newser) - 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....

Obama Budget Relies on Rosy Growth Estimates

(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...

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