New filings for jobless benefits inched up to 198,000 last week from 191,000 earlier, staying below the pre-pandemic level, while fourth-quarter gross domestic product was revised down slightly from a 2.7% increase to 2.6%. … READ MORE >
gross domestic product
U.S. GDP: Resilient growth closes out a challenging year
A resilient American economy grew by 2.9% during the final three months of last year because of a strong increase in demand for services by consumers, fixed business investment and inventory restocking. … READ MORE >
U.S. GDP declines by 1.4%: This is what an overheating economy looks like
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 >
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 >