Page 2 - Us Gdp
US goods trade deficit hits record high; Q1 GDP growth estimates slashed
The goods trade deficit jumped 17.8% to an all-time high of $125.3 billion.
 "US goods trade deficit hits record high; Q1 GDP growth estimates slashed")
US weekly jobless claims fall; Q4 GDP growth revised slightly up
Initial claims for state unemployment benefits decreased 17,000 to a seasonally adjusted 232,000 for the week ended Feb.19, the Labor Department said on Thursday
 "US weekly jobless claims fall; Q4 GDP growth revised slightly up")
US' Q2 economic growth revised slightly higher; weekly jobless claims rise
Gross domestic product increased at a 6.6% annualized rate, the Commerce Department said on Thursday in its second estimate of GDP growth for the April-June quarter
 "US' Q2 economic growth revised slightly higher; weekly jobless claims rise")
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.
 "US economic growth in April-June remains unrevised at annualised 6.4%")
US economic recovery gains steam as spending fuels 6.4% GDP growth in Q1
Personal consumption, the biggest part of the economy, surged an annualised 10.7%, the second-fastest since the 1960s
 "US economic recovery gains steam as spending fuels 6.4% GDP growth in Q1")
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
 "Asian stocks set to mostly rise after Federal Reserve projects US GDP surge")
Warren Buffett's favourite valuation metric is ringing an alarm
Any Buffett disciple who checks in on the billionaire investor's favourite market valuation metric these days may get the urge to shriek in terror
 "Warren Buffett's favourite valuation metric is ringing an alarm")
Goldman Sachs boosts US GDP estimate, sees Covid-19 relief at $1.5 trillion
On an annual basis, they raised their forecasts for 2021 and 2022 growth by 0.2 percentage points each, to 6.8% and 4.5%, respectively
 "Goldman Sachs boosts US GDP estimate, sees Covid-19 relief at $1.5 trillion")
Wall Street opens higher shrugging off bleak GDP, jobless claims data
The Dow Jones Industrial Average rose 74.0 points, or 0.24%, at the open to 30377.19
 "Wall Street opens higher shrugging off bleak GDP, jobless claims data")
JPMorgan sees US economy contracting next year as Covid-19 surge hits biz
The world's largest economy is expected to shrink at a 1% annualized pace in the January-to-March period, JPMorgan said in its 2021 U.S. outlook issued Friday
 "JPMorgan sees US economy contracting next year as Covid-19 surge hits biz")
US economy falls 31.4% in spring; may shrink for the first time since 2009
The government will not release its July-September GDP report until Oct. 29, just five days before the presidential election
US budget deficit debt to hit $3.3 trillion, bigger than its economy's size
The spike in the deficit means that federal debt will exceed annual gross domestic product next year
 "US budget deficit debt to hit $3.3 trillion, bigger than its economy's size")
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's pandemic era outlook, stance 'about right,' say economists: Poll
Ten respondents said the Fed's projections were "too pessimistic" and only five said "too optimistic
 "Fed's pandemic era outlook, stance 'about right,' say economists: Poll")
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")
Zoho Corporation cancels bonuses, but avoids any layoffs due to Covid-19
In view of dip in US GDP, the company has prepared itself for a larger hit on its business
 "Zoho Corporation cancels bonuses, but avoids any layoffs due to Covid-19")
Fitch maintains US AAA rating despite rising unemployment due to Covid-19
The rating came as the Department of Labour reported unemployment claims surging to 3.3 million in the week ending March 21 after the pandemic caused many businesses to close
 "Fitch maintains US AAA rating despite rising unemployment due to Covid-19")
US economy likely to shrink by 4% in Q1, down by 14% in Q2: JP Morgan
The forecast assumes the Fed will continue to find "creative" ways to support the economy and that the Trump administration and Congress deliver fiscal support of $1 trillion
 "US economy likely to shrink by 4% in Q1, down by 14% in Q2: JP Morgan")
Goldman Sachs downgrades US growth forecast for Q1, Q2 due to coronavirus
In a note sent on Sunday, the US bank said it now sees real gross domestic product growth of 0% in the first three months of the year, from its original estimate of 0.7% expansion
 "Goldman Sachs downgrades US growth forecast for Q1, Q2 due to coronavirus")
Coronavirus outbreak could impact US GDP in Q1: WH economic adviser
'We're thinking maybe in the first quarter we lose ... two or three tenths of one percent of GDP,' he said
 "Coronavirus outbreak could impact US GDP in Q1: WH economic adviser")
