The GDP report, which was released in the wake of a global stock market sell-off, should assure investors and cautious Fed officials that the United States was in good shape to weather the growing strains in the world economy.
On Monday, the White House released the 2014 Economic Report of the President, providing insight into the economic progress made in the United States since the 2007-2008 global banking crisis, and presenting an optimistic prediction for the next several years. The report, compiled by the White House Council of Economic Advisers (CEA), highlights the positive […]
Washington (AFP) – The U.S. economy grew more slowly than previously thought in the 2013 fourth quarter, largely due to weaker consumer spending, official data released Friday showed. The Commerce Department said gross domestic product growth in the final quarter was at an annual rate of 2.4 percent, revising its initial estimate of a 3.2 […]
As time continues to run out before Congress must raise the debt ceiling — Treasury Secretary Jack Lew has pegged February 27 as the date on which the “extraordinary measures” funding the government will be exhausted — a new report has confirmed the damage that previous standoffs have done to the U.S. economy. According to […]
Washington (AFP) – The U.S. economy grew at a robust annual rate of 3.2 percent in the fourth quarter despite the partial government shutdown in October, according to Commerce Department data released Thursday. Growth in gross domestic product was led by pick-ups in exports and consumer spending, the main driver of the U.S. economy. Most […]