Page 7 - Us Economic Growth
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
 "US government revises fourth quarter GDP up slightly to 4.1%")
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
 "China to leapfrog US as world's biggest economy by 2028: Think tank")
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
 "Will create recovery for all and get US economy moving again: Biden")
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
 "US piles up record October budget deficit of $284.1 billion: Treasury dept")
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
 "Steady growth to record crash: How pandemic recast Trump's economic record")
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
 "US economic recovery to be muted until Covid is contained: Fed officials")
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
 "Fed policymakers say pickup in infections slowing US economic recovery")
US economic stimulus: Treasury projects record Q3 borrowing of $947 billion
Treasury officials also announced that the government plans to borrow $1.22 trillion in the October-December period
 "US economic stimulus: Treasury projects record Q3 borrowing of $947 billion")
S&P, Dow fall on grim economic data, US election uncertainty, earnings
Investors also fretted ahead of high-profile earnings reports and expiration of enhanced employment benefits
 "S&P, Dow fall on grim economic data, US election uncertainty, earnings")
Fed chief Powell says coronavirus surge slowing US economic recovery
Powell's comments, made via videoconference after the Fed announced its policy decision to leave interest rates near zero, suggest dimming hopes for a quick economic rebound
 "Fed chief Powell says coronavirus surge slowing US economic recovery")
US GDP in Q2 to contract by annualised rate of 37% due to Covid-19: IMF
The longest economic expansion in US history has been derailed by the unanticipated advent of the Covid-19 pandemic
 "US GDP in Q2 to contract by annualised rate of 37% due to Covid-19: IMF")
Fed survey says economic activity has picked up but outlook remains cloudy
And the report said that business contacts in the Fed's 12 regions remained wary about the future
 "Fed survey says economic activity has picked up but outlook remains cloudy")
US stocks gain as investors weigh Covid-19 impact on economic recovery
The S&P US Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on US exchanges by total market cap, logged a weekly rise of 6 per cent
 "US stocks gain as investors weigh Covid-19 impact on economic recovery")
US may show record rise in monthly retail sales as people return to work
The US economy dropped into recession in February as the viral outbreak brought a record-long expansion to an abrupt end
 "US may show record rise in monthly retail sales as people return to work")
Fed keeps key rate at zero, projects 6.5% decline in US GDP this year
The pledge to keep monetary policy loose until the US economy is back on track repeats a promise made early in the central bank's response to the coronavirus pandemic
US entered recession in February, ending record-long expansion: Economists
The economists said employment peaked in February and fell sharply afterward, marking the beginning of the downturn
No 'silver lining': Donald Trump faces voter backlash amid crises
Some Republicans fear voters are simply worn out by Trump. People are just so disgusted with how things are
 "No 'silver lining': Donald Trump faces voter backlash amid crises")
US jobs report surprises analysts, raises hopes of faster economic recovery
Some of the jobs gains reported for May could be a reflection of the Paycheck Protection Program
 "US jobs report surprises analysts, raises hopes of faster economic recovery")
US economy shrank at 5% annual rate in Q1, higher than initial estimate
It was the biggest quarterly decline since an 8.4 per cent fall in the fourth quarter of 2008 during the depths of the financial crisis
 "US economy shrank at 5% annual rate in Q1, higher than initial estimate")
US recession to last for longest time, quick rebound unlikely: Economists
The longest U.S. economic expansion has ended, said Gregory Daco, chief economist at Oxford Economics
 "US recession to last for longest time, quick rebound unlikely: Economists")
