Page 6 - Us Economic Growth

US economy well on way to robust post-Covid recovery: Janet Yellen

Yellen said in testimony she's scheduled to deliver before the Senate Finance Committee that she came into her job in January hoping to help Americans "make it to the other side of the crisis."

Social spending, business tax hike drive $6 trillion Joe Biden budget

President Joe Biden's USD 6 trillion budget proposal for next year would run a USD 1.8 trillion federal government deficit despite a raft of new tax increases on corporations and high-income people

US economic growth in April-June remains unrevised at annualised 6.4%

The US economy grew at an annual rate of 6.4 per cent in the first quarter of 2021, the Commerce Department said in its second estimate.

United States first quarter GDP unchanged at robust 6.4% annual rate

The US economy grew at a robust annual rate of 6.4 per cent in the first three months of this year, unchanged from the government's initial estimate.

United States unemployment claims fall to 406,000, a new pandemic low

This comes as the virus wanes and economy further reopens.

US business economists foresee best growth in 37 years, reveals survey

A survey being released Monday by the National Association for Business Economics found that its panel expects the economy to expand 6.5 per cent this year

US economy accelerated at a robust 6.4% rate last quarter on stimulus

US economy grew at a brisk 6.4 per cent annual rate last quarter a show of strength fuelled by government aid and declining viral cases that could drive further gains

JPMorgan's Jamie Dimon predicts 'this boom could easily run into 2023'

Unprecedented federal rescue programs have blunted unemployment and averted further economic deterioration, according to Dimon

World economy risks 'dangerously diverging' even as growth booms

While America's booming economy will undoubtedly act as a driver for the rest of the world by sucking in imports, there could also be some grumbling about the higher market borrowing costs

Investors turn bearish on Asian currencies for 1st time in a year: Report

Investors were bearish on all Asian currencies for the first time in a year as US economic outperformance and new lockdowns elsewhere muddy the outlook for risk assets

UN body raises global economic growth forecast for 2021 to 4.7%

The report estimates that last year there was a 3.9 per cent drop in output as the spread of the coronavirus sparked lockdowns across the world.

Asian stocks set to mostly rise after Federal Reserve projects US GDP surge

Asian stocks were set for modest gains after the Federal Reserve pledged to keep monetary policy and rates unchanged and projected a rapid jump in US economic growth this year as the pandemic eases

Covid-19: Jump in hiring fuels optimism for US economic recovery

US hiring accelerated more quickly than expected last month, evidence that a year after the pandemic took hold, the economy is strengthening as virus cases drop and vaccinations ramp up.

US government revises fourth quarter GDP up slightly to 4.1%

The economy grew at a slightly faster pace in the final three months of 2020 than first thought

China to leapfrog US as world's biggest economy by 2028: Think tank

China will overtake the United States to become the world's biggest economy in 2028, five years earlier than previously estimated due to the contrasting recoveries of the two countries from pandemic

Will create recovery for all and get US economy moving again: Biden

Introducing his high-profile and experienced team to the nation, US President-elect Joe Biden exuded confidence that it will create a recovery for all and get the country's economy moving again

US piles up record October budget deficit of $284.1 billion: Treasury dept

The US is starting the 2021 budget year the way the old year ended, with soaring deficits

Steady growth to record crash: How pandemic recast Trump's economic record

Stacked against his campaign promises from 2016, Trump's record was mixed on issues including eliminating the trade deficit and locking in 3% annual economic growth

US economic recovery to be muted until Covid is contained: Fed officials

Consumer spending will probably remain weak relative to the past as people avoid activities that require high levels of social interaction for health reasons, Boston Fed President Eric Rosengren said

Fed policymakers say pickup in infections slowing US economic recovery

The increase in infections has raised the downside risks to the economic outlook and suggests the reopening of the U.S. economy may be more protracted