Economic growth slowed in the second quarter as a capital investment drive by businesses sucked in imports at the fastest pace since the first quarter of 1984.
Gross domestic product expanded at a 2.4 percent annual rate, the Commerce Department said in its first estimate on Friday, after an upwardly revised 3.7 percent growth pace in [...]
Archive for July, 2010
Imports slow second-quarter growth
July 31st, 2010 by Financial Writer
Tags: business investment, businesses, commerce department, economic growth, financial crisis, financial system, taxpayers, unemployment rate, us stocks
more...U.S. Economy Grew 2.4% in Second Quarter, Below Forecast
July 30th, 2010 by Financial Writer
Growth in the U.S. slowed to a 2.4 percent annual rate in the second quarter, less than forecast, reflecting a larger trade deficit and an easing in consumer spending.
The increase in gross domestic product compared with a median forecast of 2.6 percent of economists surveyed by Bloomberg News and follows an upwardly revised 3.7 percent [...]
Tags: business, business investment, commerce department, consumer spending, economists, global recovery, investment, us manufactured
South Korea’s Industrial Output Rises for 12th Month, Exceeding Forecasts
July 29th, 2010 by Financial Writer
South Korea’s industrial output rose more than forecast in June, expanding for a 12th month, showing resilience to risks from advanced economies and providing more reason to keep raising rates.
Output gained 16.9 percent from a year earlier, after rising a revised 21.7 percent in May, the statistics office said in Gwacheon today. That compared with [...]
Tags: borrowers, consumers, economic growth, economists, Global Financial, global financial crisis, interest rates, South Korean
China’s Slowing Economy Will Stabilize, Avoid Slump, Central Bank Predicts
July 27th, 2010 by Financial Writer
China’s central bank said the slowdown in growth in the world’s third-largest economy will likely stabilize, helping the nation avoid a slump during the second half of the year.
The economy’s fundamentals remain “good,” the People’s Bank of China said on its website today. China’s decreasing dependence on exports also means the European debt crisis is [...]
Tags: bank of china, Chinese economy, debt crisis, economic growth, economists, european economy, financial system, Global Economy, inflation, interest rates, loans
European, IMF Officials Begin Visit To Greece Amid Protests
July 26th, 2010 by Financial Writer
A delegation of European and International Monetary Fund officials began a two-week visit to Greece Monday to assess the country’s reform progress that will determine its eligibility to receive further funding under an EUR110 billion loan deal.
The interim review by the so-called troika of European Commission, European Central Bank, and IMF officials comes amid the [...]
Tags: business, economists, economy, european central bank, european economy, financial, financial markets, financial system, IMF, interest rates, loans, stock market
Bernanke Says Extending Bush’s Tax Cuts Would Maintain Economic Stimulus
July 24th, 2010 by Financial Writer
Federal Reserve Chairman Ben S. Bernanke said extending at least some of the tax cuts set to expire this year would help strengthen a U.S. economy still in need of stimulus and urged offsetting the move with increased revenue or lower spending.
“In the short term I would believe that we ought to maintain a reasonable [...]
Tags: ben bernanke, economic recovery, economists, Federal Reserve, Global Economy, interest rates, unemployment rate, us, us economy, us stocks
Strong Economic Data Stokes Optimism in Britain and Germany
July 23rd, 2010 by Financial Writer
LONDON — Britain and Germany offered a welcome respite from the otherwise gloomy economic outlook around the world on Friday when the two economies reported surprisingly optimistic data.
Britain stunned economists with a 1.1 percent increase in its gross domestic product in the second quarter — almost twice the rate that had been expected, according to [...]
Tags: business, economic growth, economist, euro zone, european economy, financial, inflation, manufactured goods, money
20% of Americans hit by major economic loss
July 22nd, 2010 by Financial Writer
A new study released Wednesday estimates that 20% of Americans suffered a significant economic loss last year - the highest level in the past 25 years.
The new Economic Security Index looks at the interaction of three key variables that have a direct bearing on a person’s economic security: income loss, medical expenses and debt.
The index, [...]
Tags: debt crisis, economic estimates, economists, financial, financial markets, financial system, money, us economic, us economy
Stocks Shrug Off Earnings, Wait for Bernanke
July 21st, 2010 by Financial Writer
U.S. stocks wavered, as lagging health-care stocks competed with enthusiasm over second-quarter earnings from financials ahead of testimony from Federal Reserve Chairman Ben Bernanke.
Investors will be listening for any guidance Mr. Bernanke offers on the possibility of the economy slowing down in the second half and what further tools the Fed has at its disposal [...]
Tags: Dow Jones Industrial, economic growth, economy recovery, financial system, investment, money, Nasdaq composite, us, us economic, us stocks, wells fargo
It’s still the economy
July 20th, 2010 by Financial Writer
President Barack Obama, working with Democratic majorities in the House and Senate, accomplished many of the priorities on which he campaigned. Yet most every political observer expects the Democrats to lose seats in the November House and Senate elections, perhaps many of them.
The explanation derives from the fact that many voters supported Mr. Obama, and [...]
Tags: barack obama, central bank, economic, economists, fannie Mae, financial markets, financial system, freddie Mac, us, us economic, us economy, us stocks, wall street