8:43 AM, Aug 28, 2014 • By GEOFFREY NORMAN
Jeanna Smialek and Shobhana Chandra of Bloomberg reports that:
The number of Americans filing for unemployment benefits were little changed last week as employers held on to staff in an improving economy. Claims decreased by 1,000 to 298,000 in the week ended Aug. 23 from 299,000 in the prior period, a Labor Department report showed today in Washington. The median forecast of 46 economists surveyed by Bloomberg called for an increase to 300,000.
Also, as repaired by Bloomberg’s Chandra:
The economy in the U.S. expanded more than previously forecast in the second quarter, propelled by the biggest gain in business investment in more than two years that bodes well for the rest of 2014.
Still waiting to see if the recovery will achieve escape velocity or loose momentum and fall back into its heretofore tepid trajectory.
9:04 AM, Apr 30, 2014 • By GEOFFREY NORMAN
The numbers on 1st quarter GDP are, in a word, dismal. An economy that had been limping along came nearly to a standstill. As Jeanna Smialek of Bloomberg reports:
8:52 AM, Jun 26, 2013 • By GEOFFREY NORMAN
One day after the president declared war on coal and committed his administration to making electricity – and, thus, just about everything else – more expensive, the 1st quarter GDP growth figures were revised down from a tepid 2.4 percent to an anemic 1.8 percent.
Economic growth is the imperative, not budget cuts. May 27, 2013, Vol. 18, No. 35 • By IRWIN M. STELZER
The burgeoning deficit has stopped burgeoning, at least for now. So Republican plans to attack the profligate president and to use the debt ceiling as a weapon to get more spending cuts can be shelved. Conservative deficit hawks should turn to a more immediate and important task—devising policies that will help the economy to grow at a rate that ends middle-class malaise and gets the millions who are out of work back into the workforce.
9:33 AM, Apr 26, 2013 • By GEOFFREY NORMAN
Economists surveyed by the Wall Street Journal were predicting that we would learn, this morning, that Gross Domestic Product had grown by 3.2 percent in the last quarter. Sorry about that; the economy said as the number came in at 2.5 percent.
10:24 AM, Jan 30, 2013 • By GEOFFREY NORMAN
We had been hearing talk of an economy that was picking up steam and a recovery that was, at last, on track. Now, it appears that recovery has stalled. Or worse. Bloomberg reports that in last year's fourth quarter:
11:33 AM, Oct 29, 2012 • By IRWIN M. STELZER
There are two U.S. economies. Well, not really. But there is the economy reported in the New York Times as part of its pre-election coverage, and far different one reported in the authoritative financial press.
9:00 AM, Oct 26, 2012 • By DANIEL HALPER
The average GDP growth for the first three quarters of this year is 1.77 percent, according to data released by the the Bureau of Economic Analysis this morning. That is less than half of what the White House predicted GDP growth would be this year, and less than a third of what the Obama administration projected when it first took office.
4:30 PM, Jun 15, 2012 • By JEFFREY H. ANDERSON
Yesterday, I noted that we have generally had our strongest periods of economic growth coming out of our deepest recessions, and I compared FDR and Obama in this vein. Another good comparison is a more recent one — between Obama and President Reagan.
11:00 AM, Jun 1, 2012 • By JAY COST
The May jobs report came out today and showed an economy barely adding any jobs: Just 69,000 were added last month, and the unemployment rate increased. This follows news yesterday that GDP was revised downward for the first quarter, and a report today that real incomes remain essentially unchanged.
We have a spending problem and a growth problem — in that order.10:03 AM, May 23, 2011 • By JEFFREY H. ANDERSON
On Meet the Press, Rep. Chris Van Hollen, the ranking Democrat on the House Budget Committee, said that “political courage on the Republican side means taking on the revenue piece” of the deficit equation. In other words, it requires Republicans to support raising taxes. Time’s Mike Murphy and NBC’s Andrea Mitchell agreed. But these assertions belie the facts.