Page 3 - Us Economic Growth

Is the US heading towards recession? What RBI Governor Shaktikanta Das said

The RBI MPC on Thursday decided to keep its repo rate unchanged at 6.5 per cent for the ninth consecutive time, RBI Governor Shaktikanta Das announced

Crude Oil prices down 9% in 5 weeks on growth worries; outlook stays tepid

The overall sentiment in oil remains bearish and we expect prices to see further sell towards the support of $70 and $68 per barrel, says Mohammed Imran of Sharekhan by BNP Paribas.

US service sector rebounds in July, employment market also recovers

ISM's measure of services employment increased to 51.1 - growing for the first time since January - from 46.1 in June, second-largest in more than three years

Oil prices settle at 8-month low after disappointing US job numbers

US job growth slowed more than expected in July and unemployment increased to 4.3 per cent, pointing to raising fears of a possible recession

US unemployment rate hits 4.3% in July as job growth slows considerably

The employment report also showed increase in annual wages last month was smallest in more than three years, effectively sealing the case for the U.S. central bank to cut interest rates in September

US economic growth seen picking up in 2nd quarter, inflation subsiding

The economy, which continues to outperform its global peers despite hefty rate hikes from the Fed in 2022 and 2023, remains supported by a resilient labor market even as the unemployment rate has rise

Trump's economic plans include proposed tariffs, tax cuts, no taxes on tips

The first night of the Republican National Convention kept its official focus on the economy Monday even after Saturday's shooting at a rally in Pennsylvania in which former President Donald Trump was injured. Speakers argued that Trump would fix inflation and bring back prosperity simply by returning to the White House as president. Virginia Governor Glenn Youngkin lamented, Tonight, America, the land of opportunity, just doesn't feel like that anymore. But Trump has released few hard numbers and no real policy language or legislative blueprints, and most of the speakers Monday didn't get into details either. Instead, his campaign is betting that voters care more about attitude than policy specifics. Trump says he wants tariffs on trade partners and no taxes on tips. He would like to knock the corporate tax rate down a tick. The Republican platform also promises to defeat inflation and quickly bring down all prices, in addition to pumping out more oil, natural gas and coal. The ..

US economic growth for last quarter expanded slightly to 1.4% annual rate

The American economy expanded at a 1.4 per cent annual pace from January through March, the slowest quarterly growth since spring 2022, the government said Thursday in a slight upgrade from its previous estimate. Consumer spending grew just 1.5 per cent, down from an initial estimate of 2 per cent in a sign that high interest rates may be taking a toll on the economy. The Commerce Department had previously estimated that the gross domestic product the economy's total output of goods and services advanced at a 1.3 per cent rate last quarter. The first quarter's GDP growth marked a sharp pullback from a strong 3.4 per cent pace during the final three months of 2023. Still, Thursday's report showed that the January-March slowdown was caused mainly by two factors a surge in imports and a drop in business inventories that can bounce around from quarter to quarter and don't necessarily reflect the underlying health of the economy. Imports shaved 0.82 percentage point off first-quarter

Fitch ups 2024 world growth forecast to 2.6%; cautions on inflation

However, for 2025, Fitch expects world growth to edge down to 2.4 per cent as US growth slows to a below-trend rate of 1.5 per cent and growth in the Eurozone picks up to 1.5 per cent

US job growth to remain at moderate pace in May, wage gains hold steady

The Labour Department's closely watched employment report on Friday is also expected to show the unemployment rate remained below 4 per cent for the 28th straight month

Gold prices firm on Fed rate cut hopes; investors await more US data

Spot gold was up 0.2% at $2,331.84 per ounce as of 09:49 a.m. ET (1349 GMT), after posting a 2% gain last month. Prices hit an all-time high of $2,449.89 on May 20

Considerable uncertainty persists in US economic outlook: Candace Browning

Browning elaborates on the implications of US growth for financial markets

US economic growth revised lower for Q1; weekly jobless claims edge up

The labor market is steadily rebalancing in the wake of 525 basis points worth of interest rate hikes from the Federal Reserve since March 2022 to slow demand in the overall economy

Bullish sentiment on dollar retreat as US economic print cools: CFTC data

During this period, US monthly inflation data cooled for the first time in six months, while retail sales stagnated in April, boosting odds for Federal Reserve interest rate cuts

US unemployment benefits claims fall as labour market continues to thrive

The number of Americans applying for unemployment benefits fell last week as layoffs remained historically low despite the Federal Reserve's efforts to loosen the labor market. Jobless claims for the week ending May 18 fell by 8,000 to 215,000, down from 223,000 the week before, the Labor Department reported Thursday. The four-week average of claims, which softens some of the week-to-week volatility, rose a modest 1,750 to 219,750. Weekly unemployment claims are considered a proxy for the number of U.S. layoffs in a given week and a sign of where the job market is headed. They have remained at historically low levels since millions of jobs were lost when the COVID-19 pandemic hit the U.S. in the spring of 2020. The Federal Reserve raised its benchmark borrowing rate 11 times beginning in March of 2022 in a bid to stifle the four-decade high inflation that took hold after the economy rebounded from the COVID-19 recession of 2020. The Fed's intention was to loosen the labor market an

US labour market rebalancing, economy slowing further in second quarter

The labor market is steadily rebalancing in the wake of 525 basis points worth of rate hikes from the U.S. central bank since March 2022 to cool demand in the overall economy

Tesla plans to fire 601 more employees in California amid falling sales

The electric carmaker said last month it would lay off 6,020 people in California and Texas, as part of the headcount cuts

Asian shares hit 15-mth high ahead of highly anticipated US inflation data

MSCI's broadest index of Asia-Pacific shares outside Japan climbed slightly and hit its highest since early 2023

America's debt tops $34 trn, but commission to address it appears dead

For Mike Johnson it was effectively a Day 1 priority. It's well past time, the newly elected House speaker said in October, to establish a bipartisan commission to tackle the federal government's growing USD 34.6 trillion in debt. "The consequences if we don't act now are unbearable, he said, echoing warnings from his predecessor and other House Republicans. More than six months later, the proposal appears all but dead, extinguished by vocal opposition from both the right and the left. The collapse underscores an unyielding dynamic in Washington, with lawmakers in both parties loath to consider the unpopular tradeoffs that would be necessary to stem the nation's swelling tide of red ink particularly in an election year. Facing the reality that any fiscal commission would almost certainly suggest that Americans pay more or get less from their government, lawmakers have time and again done what they do so well: punt the problem to the next Congress. And they seem poised to do so ..

US weekly jobless claims increase more than expected as labor market eases

The Fed last week left its benchmark overnight interest rate unchanged in the current 5.25%-5.50% range, where it has been since July