The latest estimate of gross domestic product in the third quarter came out stronger than expected, rising by 3.1% instead of 2.8%, according to government data released on Thursday. Upward revisions to personal consumption, trade and government spending drove the gains. The labor market also showed ... READ MORE >
U.S. gross domestic product
Durable goods orders were mixed in October as Q3 GDP remained strong
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 >
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 >
U.S. port strike will have a modest impact on GDP
The strike by port workers along the East and Gulf coasts of the United States will provide a modest hit to GDP of a little more than 0.1 percentage points per week, or roughly $4.3 billion in lost exports and imports. If sustained, that impact would result in roughly a half percentage point shaved ... 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 outperformance in the post-pandemic global economy
One of the more underdiscussed economic developments following the shocks of the pandemic has been the United States’ outperformance compared to its peers. This success can be traced to bold monetary and fiscal policies put in place that have hardened supply chains, bolstered energy independence and ... READ MORE >
Second quarter GDP is revised higher amid stronger consumer spending
The growth scare that rocked the market in early August looks premature after the release of new data on gross domestic product and jobless claims. Growth was stronger in the second quarter, revised up to 3.0%, than the first estimate, driven largely by a sharp upward revision to consumer spending, ... READ MORE >
Seven reasons why the U.S. economy will not fall into recession
Market panics are a normal part of American business cycles. The recent scare, driven by a combination of slower hiring and the partial unwinding of the global carry trade, stands in contrast with resilient household spending, a fiscal tailwind and solid, if unspectacular, fixed business investment in the ... 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 >