Page 9 - Us Economy

Diversifying global leadership: India's opportunity in a US+1 strategy

As the world diversifies its geo-economic reliance on one country, we should also diversify our geopolitical reliance on a single nation

Biden pledges record $4 billion to World Bank fund for poorest nations

The World Bank's IDA fund, which provides mainly grants and very low interest loans to the poorest countries, is replenished every three years, and a pledging conference is scheduled for Dec. 5-6

Fed's Susan Collins says December interest rate cut still on the table

The Boston Fed chief noted inflation has come down "significantly," adding she's not seeing new price pressures and that "it's important to stay the course."

US industrial production sags in Oct amid continued drag from Boeing strike

The Fed estimated that the strike depressed industrial production by 0.2 percentage point in October after exerting a 0.3 percentage point drag in September

US consumers see lower inflation, debt delinquency risk: NY Fed survey

Households on average saw inflation over the next year at 2.9 per cent, down from 3.0 per cent in September and the lowest estimate for near-term price increases in four years

Oil prices steady as US storm threat abates, China stimulus disappoints

Brent crude futures fell 9 cents, or 0.1 per cent to $73.78 a barrel by 0916 GMT while US West Texas Intermediate crude futures were at $70.23 a barrel

Statsguru: What Donald Trump's return to the White House means for India

The US gross domestic product grew 2.5-3 per cent annually under Trump's first presidency

US weekly jobless claims up slightly, strong rise in unit labour costs

Though the labor market is easing, wage pressures are not showing a significant cooling, casting a shadow over the inflation and interest rate outlook

US economy slowing but solid in final run-up to presidential election

Voters have long been frustrated with the economy under President Joe Biden, which has featured the worst inflation

Fed seen on track for 25-basis-point interest rate cuts next week, in Dec

The increase of 12,000 nonfarm payroll jobs last month was far short of the 113,000 economists had anticipated

Hit by storms & labour union strikes, US payrolls increase by just 12,000

Nonfarm payrolls increased 12,000 last month, and hiring over the previous two months was weaker than previously thought, suggesting the underlying labor market continues to cool

Strong US economy in 2024: Will election uncertainty derail growth?

Former President Donald Trump has been campaigning for another presidency on the premise that he will dramatically rethink the way the global economy works

US economy has grown at solid pace again last quarter despite high rates

Powered by consumer spending, the U.S. economy likely kept expanding at a healthy pace from July through September despite the pressure of still-high interest rates. The Commerce Department is expected to report Wednesday that the gross domestic product the economy's total output of goods and services grew at a 2.6% annual pace last quarter, according to a survey of forecasters by the data firm FactSet. That would be down from a 3% annual rate in the April-June period. But it would still amount to a solid pace as Americans ponder the state of the economy in the final stretch of the presidential race. Wednesday's report is the first of three estimates the government will make of GDP growth for the third quarter of the year. The U.S. economy, the world's biggest, has shown surprising resilience in the face of the much higher borrowing rates the Federal Reserve imposed in 2022 and 2023 in its drive to curb inflation. Despite widespread predictions that the economy would succumb to a .

PayPal expects Q4 revenue below estimates as profit push puts growth behind

Efficiency has been a focal point for PayPal as CEO Alex Chriss, who took the helm last year, pushes for cost discipline through job cuts and higher investments in automation and AI

Here's how US presidential elections will affect economy, stock market

Both sides have outlined radically different visions of America's economic future, with major implications for the rest of the world

US can prosecute Turkish bank in Iran sanctions case, rules appeals court

US prosecutors charged Halkbank in 2019 over its alleged use of money servicers and front companies in Iran, Turkey and the United Arab Emirates to evade sanctions

IMF upgrades US economic outlook, lowers expectations from Europe, China

The International Monetary Fund on Tuesday upgraded its economic outlook for the United States this year, while lowering its expectations for growth in Europe and China. It left its forecast for global growth unchanged at a relatively lackluster 3.2% for 2024. The IMF expects the US economy the world's largest to expand 2.8% this year, down slightly from 2.9% in 2023 but an improvement on the 2.6% it had forecast for 2024 back in July. Growth in the United States has been led by strong consumer spending, fuelled by healthy gains in inflation-adjusted wages. Next year, though, the IMF expects the US economy to decelerate to 2.2% growth. With a new presidential administration and Congress in place, the IMF envisions the nation's job market losing some momentum in 2025 as the government begins seeking to curb huge budget deficits by slowing spending, raising taxes or some combination of both. The IMF, a 190-nation lending organisation, works to promote economic growth and financial .

Most voters split on whether Trump or Harris can fix weak US economy: Poll

Voters remain largely divided over whether they prefer Republican Donald Trump or Democrat Kamala Harris to handle key economic issues, although Harris earns slightly better marks on elements such as taxes for the middle class, according to a new poll. A majority of registered voters in the survey by The Associated Press-NORC Centre for Public Affairs Research describe the economy as poor. About 7 in 10 say the nation is going in the wrong direction. But the findings reaffirm that Trump has lost what had been an advantage on the economy, which many voters say is the most important issue this election season above abortion, immigration, crime and foreign affairs. Do I trust Trump on the economy? No. I trust that he'll give tax cuts to his buddies like Elon Musk, said poll respondent Janice Tosto, a 59-year-old Philadelphia woman and self-described independent. An AP-NORC poll conducted in September found neither Harris nor Trump had a clear advantage on handling the economy and jobs

US weekly unemployment claims unexpectedly fall 19,000 to 241,000

Initial claims for state unemployment benefits dropped 19,000 last week to a seasonally adjusted 241,000 for the week ended Oct. 12

Tariffs, tax cuts core to Donald Trump's economic pitch to voters

Beyond tax cuts and tariffs, Trump has promised he would support the oil and gas industry by backing new pipelines and restoring fracking on federal land in a bid to boost the economy