Business spending on equipment was mixed in October, likely because of uncertainty over the direction of fiscal and monetary policies, the Commerce Department reported on Wednesday. But that is likely to increase in the months ahead as those uncertainties ease. And with more domestic growth as the base ... READ MORE >
U.S. GDP
The U.S. economic year ahead: Regime change, growth and rising interest rates
Since the American economy emerged from the shocks of the pandemic, we have made the case that it is undergoing a fundamental structural change. The end of historically low interest rates, the adoption of policies aimed at bolstering vital national industries and the influx of foreign capital have all ... READ MORE >
American economic outperformance continues as GDP expands by 2.8%
American economic outperformance continued into the third quarter as the first estimate of U.S. gross domestic product showed a 2.8% increase. The gains were driven by robust household spending, which increased by 3.7%, strong nonresidential investment, which rose by 3.3% featuring a robust 11.1% rise ... READ MORE >
A nascent dollar bloc: Re-globalization amid U.S.-Chinese tensions
The fragmenting of free trade around the world and the rise of industrial policy have resulted in the nascent formation of a trade, finance and currency bloc organized around American economic and security interests. Although not formalized, the democracies in the West and their primary trading ... READ MORE >
American outperformance in the global economy
One of the more underdiscussed economic developments following the shocks of the pandemic has been the outperformance of the United States economy compared with its G-7 peers. Over the past eight quarters, the American economy has grown at a 2.9% annualized pace and is on track to grow at or above ... READ MORE >
Robust economic revisions defy recession doubts
While many are concerned that the economy is heading toward a recession, new data on spending and the labor market suggest otherwise. It's hard to bet against the American economy when the most recent data has surprised to the upside. Significant revisions to income and gross domestic product from 2020 ... READ MORE >
American economy grew by 2.8% in second quarter, exceeding forecasts
The U.S. economy advanced at a 2.8% pace in the second quarter, exceeding RSM’s forecast of 2.4%, and was up by 3.1% on a year-ago basis. For the first half of the year, average growth was 2.1%, which should put to rest any arguments that the economy is about to fall off a cliff. Perhaps more ... READ MORE >
GDP and inflation grew slower than earlier estimates
Softer overall demand and inflation in the first quarter should be more of a relief for the Federal Reserve and the market rather than a concern. Most of the downward revision to gross domestic product data released by the Commerce Department on Thursday came from consumer spending, partly because of ... READ MORE >
GDP growth slows to 1.6% in first quarter, exaggerated by volatile trade and inventory data
Overall growth in U.S. gross domestic product fell to 1.6% in the first quarter, but the slowdown was exaggerated by volatile trade and inventory data, which provided a 1.2% drag on overall activity. Final sales to domestic purchasers, by contrast, which exclude inventories and trade, increased by ... READ MORE >
U.S. economy booms at a 3.3% pace in the fourth quarter
The U.S. economy expanded at a robust 3.1% pace from a year ago and closed the year with a booming 3.3% rate of expansion on the quarter, according to Commerce Department data released Thursday. The strong gains were driven by household consumption, gross private investment and government spending ... READ MORE >