News

US Economy Shrinks 5% in Q1
The US economy shrank by an annualized 5 percent in the first quarter of 2020, in line with the previous estimate and ending the longest period of expansion in the country's history. It is the biggest drop in GDP since the last quarter of 2008 as the Covid-19 pandemic forced several states to impose lockdown measures in mid-March, throwing millions of people out of work. With the third estimate, an upward revision to nonresidential fixed investment was offset by downward revisions to private inventory investment, personal consumption expenditures (PCE), and exports.
Published on 2020-06-25

US GDP Contracts More than Expected
The US economy shrank by an annualized 5 percent in the first quarter of 2020, more than an advance estimate of a 4.8 percent contraction and ending the longest period of expansion in the country's history, the second estimate showed. It is the biggest drop in GDP since the last quarter of 2008 as the Covid-19 pandemic forced several states to impose lockdown measures in mid-March, throwing millions of people out of work. Private inventory investment was revised downwards while personal consumption and business investment shrank less than anticipated. In the second quarter of the year, the economy is seen contracting as much as 40%, which would be the biggest plunge ever as the "stay-at-home" orders issued in March extended through the quarter, with businesses and schools switching to remote work or canceling operations, and consumers canceling, restricting, or redirecting their spending.
Published on 2020-05-28

US GDP Contracts Most Since Great Recession
The US economy shrank by an annualized 4.8 percent in the first quarter of 2020, ending the longest period of expansion in the country's history, an advance estimate showed. It was the steepest pace of contraction in GDP since the last quarter of 2008, much worse than market consensus of a 4.0 percent slump, as the Covid-19 pandemic forced several states to impose lockdown measures in mid-March, throwing millions of people out of work. Household consumption fell the most since the fourth quarter of 1980 and business investment contracted for a fourth consecutive period. In addition, exports and imports were down sharply, while residential fixed investment rose as well as government spending.
Published on 2020-04-29

US GDP Seen Contracting Most Since Great Recession
The US economy probably shrank at a 4 percent annualized rate in the first quarter of 2020, ending the longest period of expansion in the country's history. That would the steepest pace of contraction in GDP since the first quarter of 2009, led by sharp declines in consumer spending and a drawdown of inventory at businesses, as measures to curb the rapid spread of Covid-19 almost shut down the country, throwing millions of people out of work.
Published on 2020-04-29

US GDP Growth Unrevised at 2.1%
The US economy grew 2.1 percent in Q4, the same as in Q3 and matching figures from the second estimate. Upward revision to personal consumption expenditures (PCE) was largely offset by downward revisions to federal government spending and nonresidential fixed investment. Considering full 2019, the economy advanced 2.3 percent, the least since 2016 and missing Trump administration's 3 percent target for the 2nd year.
Published on 2020-03-26

US GDP Growth Unrevised at 2.1%
The US economy grew 2.1 percent in Q4, the same as in Q3 and matching the advance figures. In the second estimate, the contribution from net trade was revised higher and the drag from inventories was smaller while PCE rose less than initially estimated and nonresidential investment shrank faster. Considering full 2019, the economy advanced 2.3 percent, the least since 2016 and missing Trump administration's 3 percent target for the 2nd year.
Published on 2020-02-27

US GDP Grows 2.1% in Q4, Matches Forecasts
The US economy grew 2.1% in Q4, the same as in Q3 and matching forecasts, advance estimates showed. Consumer spending slowed sharply while net trade made the biggest contribution to growth since Q2 2009 amid a fall in imports. In contrast, negative contributions came from private inventory investment and nonresidential fixed investment. Considering full 2019, the economy advanced 2.3%, the least since 2016 and missing Trump administration's 3% target for the 2nd year.
Published on 2020-01-30

US GDP Growth Unrevised at 2.1% in Q3
The US economy grew by an annualized 2.1% in Q3, unchanged from the second estimate and following a 2% expansion in the previous three-month period. Consumer spending grew faster than anticipated and the drag from business investment was smaller than earlier reported. On the other hand, imports rose faster and inventories fell while investment in homebuilding was revised lower.
Published on 2019-12-20

US GDP Growth Revised Higher
The US economy grew by an annualized 2.1% in Q3, compared to an advance estimate of 1.9% and following a 2% expansion in the previous three-month period. Private inventories were revised higher and business investment shrank less than expected. On the other hand, the rise in consumer spending, the main engine of growth, was left unchanged and the drag from net exports was bigger than anticipated.
Published on 2019-11-27

US GDP Growth Slows Less than Expected
The US economy grew by an annualized 1.9 percent in the third quarter of 2019, beating market expectations of 1.6 percent and following a 2.0 percent expansion in the previous three-month period, the advance estimate showed. Household consumption, government spending and exports were the main drivers of growth while business investment fell and imports made a negative contribution to GDP.
Published on 2019-10-30

US Q2 GDP Growth Confirmed at 2%
The US economy grew by an annualized 2 percent in the second quarter of 2019, unrevised from the second estimate and following a 3.1 percent expansion in the previous three-month period. Downward revisions to personal consumption expenditures (PCE) and nonresidential fixed investment were primarily offset by upward revisions to state and local government spending and exports. Imports, which are a subtraction in the calculation of GDP, were revised down.
Published on 2019-09-26

US Q2 GDP Growth Revised Lower
The US economy grew by an annualized 2 percent in the second quarter of 2019, slightly below a preliminary estimate of 2.1 percent and following a 3.1 percent expansion in the previous three-month period, the second estimate showed. The revision primarily reflected downward revisions to state and local government spending, exports, private inventory investment, and residential investment that were partly offset by an upward revision to personal consumption expenditures (PCE).
Published on 2019-08-29

US GDP Growth Slows Less than Forecast in Q2
The US economy grew by an annualized 2.1 percent in the second quarter of 2019, beating market expectations of 1.8 percent and following a 3.1 percent expansion in the previous three-month period, the advance estimate showed. Household consumption and government spending increased at faster rates, while a slump in exports and a smaller inventory build made a negative contribution to growth.
Published on 2019-07-26

US Q1 GDP Growth Confirmed at 3.1%
The US economy grew by an annualized 3.1 percent in the first quarter of 2019, unrevised from the second estimate and following a 2.2 percent expansion in the previous three-month period. Nonresidential and residential fixed investment, exports and imports, and state and local government spending were revised higher while personal consumption expenditures and inventory investment came in lower than initially reported.
Published on 2019-06-27

US Q1 GDP Growth Revised Down to 3.1%
The US economy advanced an annualized 3.1 percent in the first quarter of 2019, slightly below earlier figures of a 3.2 percent expansion and in line with market expectations, the second estimate showed. It follows a 2.2 percent growth in the previous three-month period. Nonresidential fixed investment and private inventory investment were revised lower and while upward revisions were seen exports and personal consumption expenditures.
Published on 2019-05-30

US Q1 GDP Growth Beats Forecasts
The US economy grew by an annualized 3.2 percent in the first quarter of 2019, easily beating market expectations of 2 percent and following a 2.2 percent expansion in the previous three-month period. Growth was mainly supported by personal consumption expenditures (PCE), private inventory investment, exports, state and local government spending, and nonresidential fixed investment.
Published on 2019-04-26

US GDP Growth Revised Down to 2.2%
The US economy advanced an annualized 2.2 percent on quarter in the fourth quarter of 2018, well below a 2.6 percent growth in the previous estimate and 3.4 percent in the previous period. It compares with market expectations of 2.4 percent. Personal consumption expenditures (PCE), state and local government spending, and nonresidential fixed investment and imports were revised down.
Published on 2019-03-28

US GDP Growth Slows Less Than Expected
The US economy advanced an annualized 2.6 percent on quarter in the fourth quarter of 2018, beating market expectations of a 2.4 percent growth, the initial estimate showed. It follows a 3.4 percent expansion in the previous period. The increase in real GDP in the fourth quarter reflected positive contributions from personal consumption expenditures (PCE), nonresidential fixed investment, exports, private inventory investment, and federal government spending. Those were partly offset by negative contributions from residential fixed investment, and state and local government spending. Imports increased.
Published on 2019-02-28

US GDP Growth Revised Down to 3.4% in Q3
The US economy advanced an annualized 3.4 percent on quarter in the third quarter of 2018, slightly below earlier estimates of a 3.5 percent growth, final figures showed. It follows a 4.2 percent growth in the previous period which was the highest since the third quarter of 2014. Personal consumption expenditures (PCE) and exports were revised down, and private inventory investment was revised up. However, the general picture of economic growth remains the same.
Published on 2018-12-21

US GDP Growth Confirmed at 3.5% in Q3
The US economy advanced an annualized 3.5 percent on quarter in the third quarter of 2018, in line with earlier figures, the second estimate showed. It follows a 4.2 percent growth in the previous period which was the highest since the third quarter of 2014. Upward revisions to nonresidential fixed investment and private inventory investment were offset by a downward revision to consumer spending and a higher drag from net trade.
Published on 2018-11-28