In the budget there are bold vows — oddly reminiscent of China's annual edicts
for economic growth rates — about boosting exports by 30 % in the next eight years (even though exports have climbed just 2.9 % from eight year ago).
Not exact matches
So special tax
rates for smaller companies hurt
economic growth rather than enhance it.
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our
growth strategy, including the timing, execution, and profitability of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential
for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost of accommodating, announced increases in the build
rates of certain aircraft; 6) the effect on aircraft demand and build
rates of changing customer preferences
for business aircraft, including the effect of global
economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result of global
economic uncertainty or otherwise; 8) the effect of
economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange
rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals
for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand
for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact of future discount
rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price
for our announced acquisition of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit
ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate
for our additional capital needs or
for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest
rates increase substantially; 27) the effectiveness of any interest
rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions
for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange
rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
That would boost
economic growth, inflation and debt: if the Joy of Cooking contained a recipe
for higher interest
rates, that would be it.
The bank cited the prospect of slower
economic growth in Canada brought about by lower oil prices as one reason
for moderating the
rate.
Given the recent
economic news, estimates of 1.2 %
for GDP
growth, -0.2 %
for GDP inflation, and 0.55 %
for the 3 - month T - Bill
rate are more appropriate.
The Federal Reserve came through on a widely expected interest
rate hike Wednesday following its two - day policy meeting and sharply raised its
economic growth forecast
for 2018.
Even prior to the Trump win, a victory that signaled higher
economic growth, rising interest
rates, and likely less regulation, all good
for financial services, Buffett had secured paper profits over 5 1/2 years of $ 6.9 billion on his preferred.
Federal Reserve officials followed through on an expected interest -
rate increase and raised their forecast
for economic growth in 2018, even as they stuck with a projection
for three hikes in the coming year.
Economists at Macroeconomic Advisers boosted their forecast
for fourth - quarter
economic growth by three - tenths of a percentage point to an annualized
rate of 2.4 percent, on the «unexpected strength» in consumer spending.
The second condition
for declining
rates will likely be satisfied too: housing unit sales have now been declining
for months, unemployment has remained stubbornly high, and
economic growth is still sluggish.
Such risks, uncertainties and other factors include, without limitation: (1) the effect of
economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest
rates and foreign currency exchange
rates, levels of end market demand in construction and in both the commercial and defense segments of the aerospace industry, levels of air travel, financial condition of commercial airlines, the impact of weather conditions and natural disasters and the financial condition of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; (3) the scope, nature, impact or timing of acquisition and divestiture or restructuring activity, including the pending acquisition of Rockwell Collins, including among other things integration of acquired businesses into United Technologies» existing businesses and realization of synergies and opportunities
for growth and innovation; (4) future timing and levels of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope of future repurchases of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level of other investing activities and uses of cash, including in connection with the proposed acquisition of Rockwell; (7) delays and disruption in delivery of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits of organizational changes; (11) the anticipated benefits of diversification and balance of operations across product lines, regions and industries; (12) the outcome of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact of the negotiation of collective bargaining agreements and labor disputes; (15) the effect of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies and currency exchange
rates in the near term and beyond; (16) the effect of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
Economic growth well above expectations could be an issue
for stocks because it increases the chances the Fed will suddenly get more aggressive on
rate hikes.
Comment: «Air cargo traffic remains a watch item
for us as the gradual market recovery continues amid modest overall global
economic growth rates,» said Dennis A. Muilenburg.
U.S.
economic growth and the expectation
for higher interest
rates should also give the rally in the dollar more fuel, said Gina Sanchez, CEO of Chantico Global.
It was also the fastest
rate of
growth since the third quarter of 2014, and pundits are already declaring the headline number as good news
for Hillary Clinton, who is running a campaign that promises a continuation of President Barack Obama»
economic policies.
If we want to break past lackluster
economic growth rates and make meaningful change in lives and livelihoods, we need to move beyond incremental innovation (think slightly - better iPhones) toward revolutionary innovation (think new energy systems, next - generation electronics, and cures
for Cancer and Alzheimer's).
«Our «rational exuberance» rests on a combination of above - trend US and global
economic growth, low albeit slowly rising interest
rates, and profit
growth aided by corporate tax reform likely to be adopted by early next year,» Kostin said in a report
for clients.
The top beneficiary of the Trump rally so far has been the banking industry, with bets driven by the potential
for higher lending
rates and stronger
economic growth in the coming months, not to mention the president - elect's pledge to reject any new financial regulations.
Rising
rates are good
for stock valuations because they reflect underlying
economic growth and inflation, which are both good
for profits, at least initially, Lakos - Bujas said.
Everything was fine after the central bank announced that it had decided to leave its benchmark interest
rate at 0.5 %, while stating that it had cut its outlook
for economic growth and indicating that it would take longer to achieve its inflation target.
For instance, the federal government's Community Development Block Grants, which are dispensed by local communities for economic growth, require that contractors hired by the borrower pay the prevailing wage rate for that locati
For instance, the federal government's Community Development Block Grants, which are dispensed by local communities
for economic growth, require that contractors hired by the borrower pay the prevailing wage rate for that locati
for economic growth, require that contractors hired by the borrower pay the prevailing wage
rate for that locati
for that location.
For years, the world has watched as China posted
economic growth rates three times as fast as the United States, built on the back of government - directed capital investment and massive exports to the wealthy world.
Treasury yields on Friday book a weekly drop as geopolitical instability keeps investors pouring into the perceived safety of government paper, but
for the day,
rates of government paper rise as a robust raft of
economic data suggested U.S.
growth would maintain its steady clip, ahead of a key monetary - policy update on Wednesday.
The Fed lowered its
economic growth forecasts
for this year and next year slightly, likely reflecting its concerns about interest
rates.
A wobbly equity market, expectations
for higher interest
rates and weaker
economic growth in the first quarter have inspired some pundits to claim that bear - market risk
for stocks...
With the global economy «floating on an ocean of credit,» the current acceleration of credit via central bank policies will likely produce a positive
rate of real
economic growth this year
for most developed countries, PIMCO chief Bill Gross writes in his latest monthly commentary, but «the structural distortions brought about by zero bound interest
rates will limit that
growth and induce serious risks in future years.»
Minutes of the meeting released three weeks later showed that some policymakers indicated they were ready
for another small
rate hike, while other officials wanted to wait until incoming data «provided a greater level of confidence that
economic growth was strong enough to withstand a possible downward shock to demand.»
If they «re rising because there is general confidence that the
economic growth will continue and that «s why interest
rates are rising because stocks are actually — the return of companies is actually providing a competition
for funds, that «s a positive thing.
Achievement of these goals was considered by the HRC as very challenging, even aggressive, given the expected modest
economic growth for 2007
for the financial services industry, the impact and duration of the on - going flat / inverted yield curve (meaning short - term interest
rates that are virtually equal to or exceed long - term interest
rates, thus lowering profit margins
for financial services companies that borrow cash at short - term
rates and lend at long - term
rates), potentially higher credit losses, fewer available high - quality, high - yielding loans and investment opportunities, and a consumer shift from non-interest to interest - bearing deposits.
Record low unemployment
rates are pushing up salaries, which could catalyze consumer spending, a welcome boost
for corporate profits, equities, and
economic growth.
In saying the Fed expected «moderate»
economic growth, «additional strengthening in the labor market» and inflation rising toward the central bank's annual 2 % target, Yellen appeared to be preparing financial markets
for a potential
rate hike after the central bank's Sept. 20 - 21 meeting.
While the extent of the seasonal problem will be debated, monitoring year - over-year
growth rates is a matter of simple prudence at this juncture not only
for ECRI's indexes but also
for other
economic data.
NEW YORK (Reuters)- U.S. stocks closed higher on Monday as investors prepared
for an expected Federal Reserve
rate hike later in the week, while stocks rose around the world on continued solid global
economic growth indicators.
Forward - looking statements may include, among others, statements concerning our projected adjusted income (loss) from operations outlook
for 2018, on both a consolidated and segment basis; projected total revenue
growth and global medical customer
growth, each over year end 2017; projected
growth beyond 2018; projected medical care and operating expense ratios and medical cost trends; our projected consolidated adjusted tax
rate; future financial or operating performance, including our ability to deliver personalized and innovative solutions
for our customers and clients; future
growth, business strategy, strategic or operational initiatives;
economic, regulatory or competitive environments, particularly with respect to the pace and extent of change in these areas; financing or capital deployment plans and amounts available
for future deployment; our prospects
for growth in the coming years; the proposed merger (the «Merger») with Express Scripts Holding Company («Express Scripts») and other statements regarding Cigna's future beliefs, expectations, plans, intentions, financial condition or performance.
In our August letter we pointed out that the turnaround in global
economic growth would continue to reduce central bank enthusiasm
for QE (bond purchases) and lead to sustained upward pressure on bond
rates.
I recently posted a «letter to the Fed» wherein I questioned the rationale
for raising interest
rates given a variety of
economic developments that I argued offer no compelling reasons to tap the brakes on
growth.
For equity markets, the combination of low interest
rates, strong
economic growth and low inflation has proved very beneficial, with global share markets rising solidly in each of the past three years.
WASHINGTON — The International Monetary Fund projects moderate
economic growth for Canada this year and next, albeit at a
rate lower than last year's and significantly slower than in the United States.
He has said that he is quite comfortable with
economic growth of around 2 per cent or less
for 2013, even though this would not reduce the unemployment
rate, currently stuck at 7.2 per cent.
The latest data on U.S.
economic and job
growth trends are making it more credible
for the Fed to raise
rates again in December, a year after its last hike.
The backdrop that set the stage
for these results, and
for the ongoing bull market in stocks more generally, has been in place since the global financial crisis — tame inflation, historically low interest
rates and moderate
economic growth in the United States have all been supportive
for growth investing.
While there are some signs of recognition such as the Fed's reduction in its estimated neutral
rate from 4.5 percent to 3.0 percent during the last 2 years, the IMF's explicit use of the term secular stagnation in its World
Economic Outlook, ECB president Mario Draghi's call
for global coordination and greater use of fiscal policy, and Japan's indicated interest in fiscal - monetary cooperation, policymakers still have not made sufficiently radical adjustments in their world view to reflect this new reality of a world where generating adequate nominal GDP
growth is likely to be the primary macroeconomic policy challenge
for the next decade.
«The energy sector posted stronger returns in September due to a rebound in oil prices which helped lift Canadian equities, while the bond market slipped into negative territory after strong Canadian
economic growth led the Bank of Canada to raise interest
rates for the first time in seven years,» said James Rausch, Head of Client Coverage, Canada, RBC Investor & Treasury Services.
Longer - term
rates, often used to gauge investors» expectations
for inflation and
economic growth, remain mostly unchanged from two years ago.
And there is no evidence that the lower
rate would spark enough
economic growth to pay
for itself, nor that it would spark much
growth at all.
Federal Reserve officials at their January meeting believed that improving global
economic prospects and the impact of the recently passed tax cuts had raised the prospects
for economic growth and future Fed
rate hikes in 2018.
Coupled with low inflation and low interest
rates, this rise in income should help boost
economic growth beyond the lukewarm 1 - 2 % we've seen
for the past several years.
To some extent, stock market action also implies expectations
for slower
economic growth, though interest
rate signals, such as a flat yield curve, are more suggestive of slow
growth than stock market action is, and we've yet to see a substantial widening of credit spreads that would suggest imminent recession.
Our view
for broader and stronger
economic growth this year, with only slightly higher interest
rates from current levels, is favorable
for equity valuations — especially after the latest decline in equity prices.