Growth in the first three months of the year contracted at a 1.4% pace as Americans turned to imports to meet torrid demand that is simply unsustainable. … READ MORE >
gross domestic product
U.S. GDP increases 6.9% in fourth quarter
The American economy closed out last year on an upbeat note, finishing with a 6.9% growth rate in the fourth quarter on a seasonally adjusted annualized pace, the fastest pace since the 7.2% rate in 1984. … READ MORE >
Chart of the day: Omicron variant will extract a powerful economic toll
The omicron variant has caused many people to pull back on work and spending, which is why we have downgraded our first quarter growth forecast for gross domestic product to 1.5%. … READ MORE >
Our economic outlook for Canada in 2022
We see a Canadian economy growing around 4% on the year, inflation hitting 5% before easing to 2% by year’s end, and the unemployment rate declining to just above 6%. … READ MORE >
Looking ahead to 2022 and what to expect in the economy
As the economy approaches a full reopening, we expect that growth in 2022 will exceed 4%, the unemployment rate will fall to 3.5% and job growth will average roughly 230,000 per month. … READ MORE >
Enhanced child tax credit was a game-changer for families, and the economy
Even as the economy slowed in the third quarter as the delta variant took hold, that slowdown would have been far worse if not for the enhanced child tax credit that was introduced on July 15. … READ MORE >
GDP grows 2% as delta variant, supply chains and inflation take their toll
The delta variant, disruptions to global supply chains and inflation all took a powerful toll on U.S. gross domestic product in the third quarter as the pace of growth slowed to 2% from 6.7% in the prior quarter. … READ MORE >
GDP preview: Look for 2.9% growth in third quarter
Economic growth in the third quarter will capture the impact of the delta variant on the economy as disruptions to global supply chains and rising inflation have dampened American household consumption and fixed investment by businesses. … READ MORE >
Honey, I shrunk the output gap: Four quarters of investment growth begin to heal the economy
The gap between the actual and potential gross domestic product narrowed dramatically during the second quarter of the year. Real GDP grew by more than 12% on a year-over-year basis while nominal GDP in current dollar terms grew at a nearly 17% yearly rate. … READ MORE >
GDP expands by 6.5% in second quarter as expansion takes hold
The composition of the growth was nothing short of virtuous. Household consumption rose by 11.8%, outlays on equipment grew by 13%, intellectual property by 10.8% and software investment increased by $13.8 billion – all of which helped drive the growth. … READ MORE >