The U.S. Bureau of Economic Analysis released its quarterly Gross Domestic Product data Thursday which the economy grew in the third quarter of 2022 by 2.6% at an annualized rate.
“The increase in real GDP reflected increases in exports, consumer spending, nonresidential fixed investment, federal government spending, and state and local government spending, that were partly offset by decreases in residential fixed investment and private inventory investment,” BEA said. Read More
Federal debt will nearly double the nation’s Gross Domestic Product by 2052 if it continues on its current trajectory, the U.S. Congressional Budget Office says in its economic and debt forecast released Wednesday.
U.S federal debt surpassed $30 trillion in February, and the most recent GDP data showed a decline of 1.6% in the first quarter of 2022. GDP second quarter data is set to be released Thursday. Read More
The Biden administration’s oft-touted talking point that employment has boomed under the administration is misleading and instead simply a natural recovery from pandemic losses, economists told the Daily Caller News Foundation.
Facing consecutive quarters of negative gross domestic product (GDP) growth, sky-high inflation and plummeting consumer sentiment, the Biden administration has routinely cited a low unemployment rate and strong on-paper jobs creation as positive results of President Joe Biden’s economic stewardship. But the notion that these figures represent booming job creation is misleading since the economy has merely rebounded by adding back jobs that were lost during the pandemic and has still yet to reach pre-pandemic levels, economists told the DCNF. Read More
U.S. gross domestic product decreased by 0.9% in the second quarter of 2022, according to new data from Bureau of Economic Analysis, signaling the start of an economic recession in the U.S.
“The decrease in real GDP reflected decreases in private inventory investment, residential fixed investment, federal government spending, state and local government spending, and nonresidential fixed investment that were partly offset by increases in exports and personal consumption expenditures…” the BEA said Thursday. Read More
by Debra Heine The White House is being accused of gaslighting the American people with “Soviet levels of propaganda” as Biden officials attempt to change the definition of recession amid economic data that shows the United States is entering into a recession. A recession is traditionally defined as two… Read More
Forty-six of the 50 U.S. states saw a decline in gross domestic product in the first quarter of 2022, newly released federal data shows.
The Bureau of Economic Analysis reported Thursday that only Massachusetts, Michigan, New Hampshire and Vermont bucked the trend with increases in GDP in the first three months of this year. Read More
Even a truncated Russian Federation has four times the pre-war population of Ukraine. It enjoys well over 10 times the Ukrainian gross domestic product. Russia covers almost 30 times Ukraine’s area.
And how does Ukraine expel Russian troops from its borders when its Western allies must put particular restrictions on their life-giving military and financial aid?
The interests of Europe and the United States are not quite the same as those of a beleaguered Ukraine. NATO also wants Vladimir Putin humiliated, but only if the war can be confined within the borders of Ukraine. Read More
U.S. Sen. Ted Cruz, R-Texas, says that skyrocketing inflation and long lines at gas stations are a result of President Joe Biden’s policies and are returning the U.S. to the days of high inflation, high cost of living and gas lines under President Jimmy Carter.
Eleven months into Biden’s term, inflation reached a 31-year high and gas prices surpassed a seven-year high.
“I’ve got to tell you the trillions that are being spent, the trillions in debt that’s being racked up, it is historic and not in a good way,” Cruz told Fox News’ “Sunday Morning Futures.” Read More
The U.S. economy grew at a 2% rate in the third quarter of 2021 as supply chain issues and the delta variant slowed gains.
The U.S. gross domestic product (GDP), a measure of net services and goods produced, grew at a 2% rate during the third quarter of 2021, the slowest gain of the pandemic era, the Bureau of Economic Analysis (BEA) reported Thursday. Read More
President Joe Biden is taking fire for comments he made about his $3.5 trillion legislation just as the bill faces a deeply split Congress.
Biden made headlines for claiming the bill would cost “zero dollars,” despite media reports and members of both parties commonly naming the bill’s cost at $3.5 trillion for the last several months. Read More
The U.S. economy contracted 3.5% in 2020 due to the coronavirus pandemic, marking the nation’s worst economic performance since the end of World War II.
The U.S. gross domestic product (GDP), which measures net services and goods produced by a country, fell 3.5% in 2020 compared to the 2.2% increase in 2019, according to a Bureau of Economic Analysis (BEA) report released Thursday. The overall decline came despite 4% growth in the fourth quarter, the period from October to December, and 38.3% growth in the third quarter, the period from July to September. Read More
The U.S. economy blew the barn doors off all other past recoveries with a record, inflation-adjusted 33.1 percent gain in the Gross Domestic Product (GDP) — more than any other quarter in economic history — in the last major economic report before the election in November.
That is great news for the American people, and it certainly bodes well for President Donald Trump in his bid for reelection against former Vice President Joe Biden as the race for 2020 comes down to the wire. It comes as more than 14 million jobs have been recovered since labor markets bottomed in April amid the Covid state-led lockdowns, according to the Bureau of Labor Statistics. Read More
The U.S. economy grew by a record 33.1% in the third quarter of 2020, as employers continue to restore jobs and the country continues to feel the effects of the coronavirus pandemic.
The Department of Commerce figure released Wednesday reflects the rate of decline in U.S. gross domestic product (GDP) during the third quarter, from July to September. The economy plunged by 31.4% in the second quarter of 2020, a record drop caused by government measures to combat the spread of coronavirus, according to The Associated Press. Read More
The U.S. national debt now exceeds the size of America’s total gross domestic product and the milestone may have been met as early as June, according to a Friday New York Times report.
America’s federal debt stands at around $26.6 trillion — an approximate $7 trillion increase since 2016, according to fiscal data from the Treasury Department. Total U.S. gross domestic product (GDP) was just over $19.4 trillion at the end of June, according to a July 30 release from the U.S. Bureau of Economic Analysis. Read More
The United States gross domestic product (GDP) fell 32.9% in the second quarter of 2020, the Department of Commerce reported, marking the largest decline the country has ever seen, according to CNBC.
In addition to the record drop in GDP, The Department of Labor reported Thursday that over 1.43 million Americans filed initial claims for unemployment last week, marking a swift economic contraction as coronavirus cases continue to rise across the country. Read More
U.S. Gross Domestic Product shrank by 4.8 percent in the first quarter of the year, a result of stay-at-home orders that shuttered businesses in response to COVID-19. Read More
As Britain prepares for the NATO leaders’ meeting outside London December 3-4, the alliance said Thursday it had agreed to redistribute costs and cut the U.S. contribution to its central budget. Read More
Energy and mineral development on lands managed by the U.S. Department of Interior (DOI) in Nevada contributed nearly $3.8 billion in added value to the state’s economy last year, according to a department report. Read More
The Gross Domestic Product (GDP) grew at an inflation-adjusted 2.1 percent in the second quarter of 2019, upping the ante for the remaining quarters in order to get to 3 percent growth for the year, according to data compiled by the Bureau of Economic Analysis. Read More