The budget showed federal government revenues in the coming year would be $ 3.4 billion lower than anticipated just four months ago, reflecting the weakest two
quarters of economic growth since the 2008 - 09 recession and a steep discount on Western Canadian oil prices.
Let's start with the cold facts: three straight
quarters of economic growth.
Not exact matches
«Against modest
economic growth of 2 percent, we had one
of the strongest
quarters in our history,» said Chief Executive Officer Brian Moynihan said.
Singapore downgraded its forecasts on
economic growth and exports for 2016 after confirming a contraction in output in the third
quarter, raising the risk
of a recession amid fresh uncertainty around global trade under U.S. President - elect Donald Trump.
Chinese
economic growth met expectations during the September
quarter, maintaining the familiar pattern seen in each
of the past ten GDP reports.
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.
«If you look at seasonality
of [
economic]
growth, the first
quarter has been weak for seven or eight straight years,» says Rick Rieder
of BlackRock.
The National Bureau
of Economic Research, which officially makes the call on whether the US economy is in recession, has its own criteria, but technicalities aside, few people will argue with a characterization
of the US economy as being «in recession» if we see two straight
quarters of negative
growth.
Growth in consumer spending, representing two - thirds of U.S. economic activity, slid to 1.1 percent rate in the first quarter, the slowest pace since the second quarter of 2013 and following the fourth quarter's robust 4.0 percent growth
Growth in consumer spending, representing two - thirds
of U.S.
economic activity, slid to 1.1 percent rate in the first
quarter, the slowest pace since the second
quarter of 2013 and following the fourth
quarter's robust 4.0 percent
growthgrowth rate.
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.
The last time the U.S. went through a partial government paralysis in 1995 - 1996 — for roughly three weeks in two separate instances —
economic growth slowed by a
quarter of a percentage point during the last three months
of 1995.
Since then, the unemployment rate has fallen to a 16 - year low
of 4.3 % and
economic growth appears to have reaccelerated following a lackluster first
quarter.
Oil prices have been unusually volatile over the last week, so predicting third
quarter economic growth is a bit
of a fool's errand when we don't have a good feel on what the rest
of the third
quarter will bring for oil prices (and what we do know is not good).
BlackRock says this decline in labor participation is partly responsible for a corresponding decline in
economic growth, accounting for roughly a
quarter of the variation in
growth of GDP.
After a winter
of depressing
economic data, strong
growth in the second
quarter recently gave Americans some room for optimism.
Global mergers and acquisitions had their strongest start ever in the first
quarter of 2018, totaling $ 1.2 trillion in value, as U.S. tax reform and faster
economic growth in Europe unleashed many companies» dealmaking instincts.
Some consider two straight
quarters of negative
economic growth to be the definition
of a recession.
We've not had a
quarter in this country
of over 3 %
economic growth since 2008, since the crisis.
Exports have been picking up here too recently, and were the main contributor to
economic growth in the first
quarter of this year.
In the first
quarter of 2015, US
economic growth was a paltry 0.6 %.
Brazil went even further, announcing a range
of monetary and fiscal measures to reinvigorate
economic growth that, in the latest
quarter, sagged to just 0.3 %.
Economists are expecting US
economic growth to drop sharply in the just - ended 4 th
quarter, rebounding through the first half
of the year until it begins to expand in the 3 rd
quarter of this year.
The current monthly results, along with the surprising better - than - expected
economic growth for the second
quarter of 2014, strongly suggest that the federal government will post a surplus in 2014 - 15, one year ahead
of their political commitment to balance the budget in 2015 - 16.
The
economic picture is strong: We've had 2 back - to - back
quarters of around 3 % GDP
growth, and for the first time in a long while we're seeing synchronous
growth among developed nations.
Despite steady
economic growth, the US stock market suffered through five
quarters of earnings recession, in which S&P 500 earnings fell year - on - year due to falling oil prices and a strong US Dollar, returning to
growth in the third
quarter of 2016.
If the deficit is due to an
economic recession, defined as two consecutive
quarters of negative
growth in real gross domestic product, or to «extraordinary events», such as a natural disaster or war, that results in an «cost»
of more than $ 3 billion, then the operating budgets
of departments and agencies would be automatically frozen to pay for any wage increases.
China's
economic growth ticked down to 7.7 percent in the first
quarter, falling short
of market expectations and suggesting a tepid rebound for the economy.
The uncertain state
of the eurozone economy may become clearer on Wednesday when the European Union statistics office releases an estimate
of its
economic growth in the first
quarter.
The move comes less than a week after the latest data for
economic growth showed an impressive expansion
of 4.5 per cent for Canada in the second
quarter.
In terms
of moderating
growth in the first
quarter, it's worth noting that
economic growth can often be complicated by seasonality adjustment issues.
The U.S. Commerce Department's Bureau
of Economic Analysis today released its first estimate
of gross domestic product (GDP)
growth for the third
quarter of 2013.
On Friday March 2nd, Statistics Canada released its first estimate for
economic growth for the fourth
quarter of 2011 and for the calendar year as a whole.
The Minister
of Finance met with his private sector
economic advisory group on March 5th to get their views on the National Accounts outcome for the fourth
quarter of 2011 and what this meant for the final outcome for 2011 and for
growth in 2012.
Prime Minister Datuk Seri Najib Razak announced today that Malaysia has recorded a 6.2 per cent
growth in GDP in the third
quarter of this year, an achievement that proves that the country's
economic management is on track.
HOUSTON --(BUSINESS WIRE)-- Although small business owners are slowly proceeding with
growth plans in 2011, 40 percent are now delaying their expectations
of an
economic rebound to the first
quarter of 2012 or later, according to the most recent Business Confidence Survey released today by Insperity, Inc. (NYSE: NSP), a leading provider
of human resources and business performance solutions to America's best businesses.
Other data last week showed that while U.S.
economic growth slowed to an annualized rate
of 2.3 percent in the first
quarter, wages and salaries shot up 0.9 percent during the same period.
This marks the fourth consecutive
quarter of nominal increases and was the fastest pace
of yearly
growth since 2006, Bureau
of Economic Analysis data show.
Advance estimates released by the Bureau
of Economic Analysis report on Friday showed that the U.S. economy slowed more than expected in the fourth
quarter, rendering the annual GDP
growth...
The report showed a less widely tracked measure
of economic growth, gross domestic income, increased 4.4 % in the fourth
quarter and 2.6 % in the third.
In contrast, Germany has been one
of the weakest economies in the region, recording no
growth in the June
quarter, although there are a number
of indications that
economic conditions are now improving.
After the first
quarter's negative
economic growth, the increase in employment has fed through into some spending indicators and to a real estate recovery, with the S&P / Case - Shiller index
of home values in 20 cities rising 4.9 % from a year earlier in April.
In my weekly commentary, I go over some
of the reasons behind that skid: fears over global
economic growth, a poor retail sales report in the U.S. and an uneven start to the fourth -
quarter corporate earnings season.
Weak
economic conditions in the past couple
of years have seen
growth in labour costs slow to 2 1/2 per cent over the year to the December
quarter, from 3 1/2 per cent a year earlier.
Eurostat stated that eurozone unemployment was 10.9 % in July, the first time it fell below 11 % since February 2012, while a range
of leading indicators (such as the Markit composite purchasing managers» index, the European Commission's
Economic Sentiment Index and money supply data) suggest
growth has continued apace in the third
quarter.
By the second
quarter of 1952, the price increases had petered out as it became clear that the Korean War would not spread into a worldwide conflict and with the sharp slowdown in
economic growth recorded in that year.
The latest moves coincide with signs that China's annual
economic growth may dip below 7 % in the third
quarter for the first time since the global financial crisis, marking a slowdown in one
of the world's main engines
of economic expansion in recent years.
After relatively lacklustre
growth for the first three
quarters of 2004 (with the notable exception
of the Australian market), global equity markets rose strongly in the December
quarter, in part reflecting renewed confidence about the strength
of the
economic recovery in the US (Graph 20, Table 5).
Today's surprise hike
of the central bank's overnight lending rate to 1.0 per cent comes less than a week after the latest data for
economic growth showed an impressive expansion
of 4.5 per cent for Canada in the second
quarter.
Economic growth fell to a five - year low
of 7.3 percent last
quarter but investor sentiment was recharged by Beijing's surprise interest rate cut Nov. 22 that is expected to put a floor under the slump.
Economic growth fell to a five - year low
of 7.3 percent in the latest
quarter but investor sentiment was recharged by Beijing's surprise interest rate cut Nov. 22 that is expected to put a floor under the slump.