A top U.S. economist issued a warning after a report Thursday showed the United States posted a second consecutive quarter of negative growth. Gross domestic product fell at a 0.9 percent annualized rate last quarter, the federal government said. The country’s GDP contracted at a 1.6 percent pace in the first quarter. Mohamed A. El-Erian,…
Top Economist Issues Warning as US GDP Declines for Second Straight Quarter
Biden’s GDP Disaster, Among Many Others
July 28, 2022
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Commentary What a difference a press release makes, even when it is only talking about the past. As we rolled out of bed this morning, economists surveyed by the Wall Street Journal were confident that economic output grew 0.3 percent in the second quarter. But then came the witching hour of 8:30am Eastern Time when…
US Economy Slips Into Technical Recession as Inflation Weighs on Growth
The U.S. economy is in a technical recession as the GDP growth rate fell 0.9 percent in the second quarter, according to the Bureau of Economic Analysis (BEA). The market had penciled in a gain of 0.5 percent during the April-to-June span. With the GDP falling 1.6 percent in the first quarter, this represented two…
US Economy Slips Into Recession as Inflation Weighs on Growth
The U.S. economy contracted in the second quarter, marking two consecutive quarters of negative growth, which is a common definition of a recession. The gross domestic product (GDP) shrank 0.9 percent at an annualized pace, following a drop of 1.6 percent in the first quarter, the Commerce Department said Thursday. The market had penciled in…
From Recession Probability to FOMC Meeting, Critical Week for US Economy
Financial markets will digest a wide range of data this week, including the much-anticipated second-quarter gross domestic product (GDP). Investors also will closely monitor the results of the July policy meeting of the Federal Reserve. Regional Fed surveys, housing numbers, consumer indexes, and labor and inflation figures will also be released throughout the week. For…
What Exactly Is Recession? White House Issues Note Defining Recession
White House economic advisers issued a note on Thursday clarifying the definition of recession prior to the release next week of probably dismal economic data. Most economists generally look for two consecutive quarters of decline in gross domestic product (GDP) to determine whether an economy has entered a recession. The White House Council of Economic…
What Exactly Is a Recession? White House Issues Note Defining Recession
White House economic advisers issued a note on Thursday clarifying the definition of recession prior to the release next week of probably dismal economic data. Most economists generally look for two consecutive quarters of decline in gross domestic product (GDP) to determine whether an economy has entered a recession. The White House Council of Economic…
Ahead of Expected Dismal Economic Data, White House Seeks to Redefine ‘Recession’
White House economic advisers issued a note on Thursday clarifying the definition of recession prior to the release next week of probably dismal economic data. Most economists generally look for two consecutive quarters of decline in gross domestic product (GDP) to determine whether an economy has entered a recession. The White House Council of Economic…
Drastic Measures Reveal a Cratering Chinese Economy
China’s GDP likely shrank in the second quarter, contrary to official reports, as the country is seen making attempts on several fronts to desperately boost its ravaged economy. Beijing announced a 0.4 percent expansion in China’s GDP during the second quarter. It was the second weakest quarterly growth ever officially recorded. But private data paints…
China’s Q2 GDP Slows to 0.4 Percent as Lockdown Bites
The economic growth in China slowed sharply in the second quarter, underscoring the price of the regime’s zero-COVID policy and challenging Beijing’s whole-year target. Gross domestic product (GDP) grew 0.4 percent from a year earlier, the National Bureau of Statistics (NBS) said on July 15. The official figures marked the worst performance since the country…
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