Tag: US economy

Friday, July 31st 2015 - 06:25 UTC
Former Fed chief says discussion is not monetary policy but government spending

Former Federal Reserve Chairman Alan Greenspan warns that government spending “extremely dangerous” to the future of the US economy. Greenspan decried a rise in entitlement costs, which he contended have pressured the U.S. economy.
Friday, July 31st 2015 - 05:59 UTC
US economy expands at an annual 2.3% in 2Q; strong consumer spending

The US economy grew at an annualized pace of 2.3% in the three months to June, official figures have shown. The figure - the first estimate of growth in the second quarter - followed an upwardly revised growth rate of 0.6% in the first three months of the year. The Commerce Department said growth was boosted by increased consumer spending and cheaper fuel prices.
Thursday, July 30th 2015 - 09:04 UTC
Fed pleased with labor market gains but inflation remains 'soft' distant from 2% target

The United States Federal Reserve on Wednesday decided to leave its benchmark federal funds interest rate unchanged at between 0 percent and 0.25 percent, while it offered an optimistic assessment of the world's biggest economy and hinted that a rate hike remains on the short-term horizon.
Saturday, July 11th 2015 - 05:30 UTC
IMF trims forecast for global growth because of recent US economy weakness

The International Monetary Fund has trimmed its forecast for global economic growth for this year to take into account the impact of recent weakness in the United States. But the global financial institution said growth prospects for next year remain undimmed, despite Greece's debt crisis and recent volatility in Chinese financial markets.
Monday, June 1st 2015 - 06:50 UTC
US economy shrinks 0.7% in first quarter; harsh winter partly to blame

The US economy shrank 0.7% in the first three months of 2015, compared to the same period last year. The Bureau of Economic Analysis significantly revised down its earlier economic growth estimate of 0.2%.
Saturday, May 9th 2015 - 08:46 UTC
US economy created 233.000 new jobs in April and unemployment falls to 5.5%

Employers in the US created 223,000 new jobs in April, a much larger increase than the month before. At the same time, the US Department of Labor said the unemployment rate dropped to a seven-year low of 5.4%, down from 5.5% in March.
Thursday, April 30th 2015 - 01:51 UTC
US economy slows down to 0.2% growth in the first quarter, but forecast is optimistic

The US economy “all but stagnated” in the first three months of the year, growing at an annual rate of just 0.2%, official figures show. The growth figure was far lower than expectations, which had forecast growth would be about 1%. Harsh winter weather for a second year dampened consumer spending, while energy companies struggling with low oil prices cut investment.
Monday, March 30th 2015 - 10:32 UTC
US economic growth cools in the fourth quarter and profits take a hit from strong dollar

US economic growth cooled in the fourth quarter as previously reported and after-tax corporate profits took a hit from a strong dollar, which could undermine future business spending. GDP expanded at a 2.2% annual rate, the Commerce Department said on Friday in its third estimate of GDP. That was unrevised from the forecast the government published last month.
Saturday, March 7th 2015 - 08:29 UTC
US economy keeps creating jobs, while unemployment drops to 5.5%

US economy added 295,000 jobs in February, while the unemployment rate fell to 5.5% from 5.7%, according to Labor Department figures. It was the 12th month running that the economy added more than 200,000 jobs, the longest such run since 1994.
Monday, March 2nd 2015 - 05:58 UTC
US economy slowdowns in last quarter, but for Wall Street it remains strong

The slowdown in the US economy at the end of last year was more pronounced than previously thought, official figures have shown. The world's largest economy grew at an annual pace of 2.2% between October and December, against a previous estimate of 2.6%, the Commerce Department said.