Commentary A frightening economic report has come out of the Commerce Department: U.S. real gross domestic product (GDP) fell at a 1.4 percent annual rate during the first quarter of the year. Suddenly, the prospect of recession has become very real. A slowdown in the recovery was already evident, and recession is indeed on the…
First Quarter GDP Prints Down 1.4 Percent; Likely an Import Anomaly
Topline GDP printed down 1.4 percent versus a consensus estimate of 1.1 percent up. Personal consumption expenditures (PCE) were sharply lower, year-on-year, as the economy normalizes The backlog of container ships that stood offshore at the end of last year has largely been cleared, and the U.S. has imported more oil and gas at higher…
US Economy Unexpectedly Declines 1.4 Percent in the First Quarter
The U.S. economy contracted 1.4 percent in the first quarter, new Bureau of Economic Analysis (BEA) data show. The market had forecast growth of 1.1 percent. This is the first time the world’s largest economy experienced negative growth since the second quarter of 2020. According to the BEA, the decline in the GDP was driven…
US Economy Declines 1.4 Percent in the First Quarter
The U.S. economy contracted 1.4 percent in the first quarter, new Bureau of Economic Analysis (BEA) data show. The market had forecast growth of 1.1 percent. This is the first time the world’s largest economy experienced negative growth since the second quarter of 2020. According to the BEA, the decline in the GDP was driven…
US Economy Declines 1.4 Percent in 1st Quarter
The U.S. economy contracted at an annualized pace of 1.4 percent in the first quarter, well below market expectations of 1.1 percent growth. The gross domestic product (GDP) data, reported on April 28 by the U.S. Commerce Department, mark the first negative growth since the second quarter of 2020 and a dramatic reversal from a…
Russia’s GDP Decline Could Hit 12.4 Percent This Year, Economy Ministry Document Shows
Russia expects the economy to contract by 8.8 percent in 2022 in its base case scenario, or by 12.4 percent under a more conservative scenario, an economy ministry document showed on Wednesday, further evidence that sanctions pressure is taking its toll. The conservative forecast is in line with that of former finance minister Alexei Kudrin, who…
Welcome to ‘Bear Market Stagflation’ and a Crummy Economy
Netflix’s announcement earlier this week that it had lost 200,000 subscribers should sound a warning on the real costs to the economy of continuing high inflation. I suspect Netflix is just a canary in a coal mine; a warning of bad times for us all, not just binge-watching couch potatoes. With Consumer Price Inflation (CPI)…
China’s GDP Could Drop in 2022: Expert
News Analysis China’s real economic growth rate could be zero percent or even negative this year, according to a Hong Kong-based academic expert on China’s economy. Chinese growth is under pressure from COVID-19 lockdowns, inflationary pressures, depressed trade due to the Russian invasion of Ukraine, and potential secondary sanctions from the United States and allies…
China’s Economy in March Shows Weakness as ‘Zero-COVID’ Bites, Suggesting Hard Grind Ahead
China’s economy slowed in March, seeing a contraction in both domestic consumption and factories activities as Beijing’s sweeping COVID-19 lockdowns takes their toll across the country, official data shows. The figures came after financial hub Shanghai has for weeks been gripped by an unprecedented city-wide lockdown, and hundreds of millions subject to stay-at-home orders around…
China’s Lockdown of Nearly 400 Million Set to Strike a Blow to Economy
April 16, 2022
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Factories have suspended production. Truckers are stuck on highways. Containers are piling up at ports. Shipping vessels have been waiting to unload. China’s economy is set to pay a price as the communist regime’s determination to stamp out the COVID-19 outbreak through harsh lockdowns have brought its manufacturing and commercial hubs, like Shanghai, to a…
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