The U.S. economy grew approximately 3.1 percent in the third quarter, according to data released by the Commerce Department. The rate of the U.S. economic growth in the period exceeded analysts’ estimates. Despite the surprising result, analysts believe that the final quarter of the year will report weaker result due to the looming fiscal cliff.
On the 17th of December, the National Association for Business Economics released its forecast, indicating that the U.S. economy would probably see a moderate growth in 2013. Analysts underline that the modest growth will be pushed mainly by a recovery in housing sector which will balance visible weaknesses in business investment though. Also the U.S. job market will pick up slightly in the coming year, according to the survey.
The U.S. economy grew at 1.7 percent in the second quarter (April – June) and the growth was slightly faster than initially estimated, according to data published by the U.S. Commerce Department. However the 1.7 annual rate in the second quarter suggests that the growth will stay weak in the second half of 2012.
It has been a fourth consecutive session for the fall of Asian stocks after Friday’s weak U.S. employment data and China’s faster-than-expected inflation numbers hurt risk appetite while Japanese exporters were hit by a stronger yen. Investor confidence in the U.S. economic recovery was shaken by a sharp slowdown in U.S. non-farm payrolls data released on Friday.
Businesses undoubtedly hands over tax money to Uncle Sam, but are you aware of where the money ultimately comes from? Well, it comes out of your pocket. It can raise the price of its product; it can pay its workers less; or it can pay the tax out of its profits.
The recovery of U.S. from the brutal recession has been uneven and modest, and has been hampered by a depressed housing market, tight credit for borrowers, budget-leashed governments and uncertainties in resolving the eurozone debt crisis. The job market is far from normal. Continued improvement is likely to require stronger growth in final demand and production.
Even though two-thirds of chief executive officers said that their companies will either be cutting staff, or won’t be hiring in 2012, one-third are job hiring companies that expected to add employees and create New jobs in the next six months. Let’s take a look at hiring trends among industry leaders as the new year arrives in a few short weeks.
North Dakota has seen two previous almost-booms, oil rushes that almost made it but then failed. Understandably, the locals as well as those traveling from all over are a little wary of the feasibility of the current oil boom. Most people are traveling to the region to make the most of the opportunity but aren’t looking to settle down in the region. Those who’ve witnessed first two oil booms are worried about “too much happening too fast”.
The $3 trillion deficit reduction plan to be put forth by U.S President Barack Obama on Monday will include generating half of this, i.e., $1.5 trillion, through new tax revenue according to senior administration officials. In particular, $800bn of this $1.5 trillion will be generated by letting George Bush’s tax cuts for wealthy Americans to [...]
Yesterday, September 11th 2011, marked the 10th anniversary of the terrorist attacks that brought down the World Trade Centre, killed over 3000 people, shook the lives of countless Americans and completely repositioned the scale of terrorism. And while this is not to understate in any way, the mental and emotional grief that this event caused [...]
The President unveiled the American Jobs Act, to create more jobs – most of which is made up of ideas that have been supported by both, the Democrats and the Republicans, and ideally the Congress should pass it right away to get the economy moving.
Recording an all-time high for the fourth consecutive session, gold prices touched a never-before price of $1,910 earlier today reinforcing prevalent investor sentiments regarding gold being a safe haven, while equity markets across the world witness massive ups and downs. With the U.S and European economies continuing to look shaky, the precious yellow metal has [...]
In response to Standard & Poor’s first-ever downgrade on the outlook for the U.S economy from a triple-A rating to AA+, the Dow Jones Industrial Average reacted dramatically on Monday by falling more than 600 points; its worst-ever drop since the 2008 financial crisis. The 5.5% drop in the market, driven by a day of [...]
The International Energy Agency (IEA) announced on Thursday, the release of 60 million barrels of oil from global reserves. Primarily being touted as a move to counter the oil shortage created by the political crisis in Libya, this decision by the IEA is also likely to help control world-wide retail petroleum prices to some extent, [...]
News regarding Osama Bin Laden’s death on the night of May 1st did two big things for the U.S: it gave closure to a number of families grieving since the 9/11 attacks, and a massive job-approval boost for U.S President Barack Obama. But how is the world’s most wanted man’s death likely to affect the [...]
The precious yellow metal, true to its tradition of breaking record highs when the rest of the economy is in doldrums, shot over $1,500 earlier today. The consistent increase in gold prices is being considered a result of slow economic growth in the west, fuelled by Japan’s nuclear crisis, Standard & Poor’s downgrade of their [...]