Gross domestic product unexpectedly declined at a 1.4% annualized pace in the first quarter, marking an abrupt reversal for an economy coming off its best performance since 1984, the Commerce Department reported Thursday. The negative growth rate missed even the subdued Dow Jones estimate of a 1% gain for the quarter. GDP measures the output of goods and services in …
Weekly jobless claims came in slightly less than expected last week and economic growth to end 2021 was slightly better than originally reported, according to government data released Thursday. Initial filings for unemployment insurance totaled 232,000 for the week ended Feb. 19, the Labor Department said. That was a touch below the 235,000 Dow Jones estimate and down 17,000 from …
A woman shows her swab and test kit to a health worker before receiving a nucleic acid test for Covid-19 at a private testing site on January 17, 2022 in Beijing, China. Kevin Frayer | Getty Images News | Getty Images The economic costs of China’s zero-Covid policy are increasingly expected to outweigh its benefits, according to U.S. investment bank …
The ranks of those submitting jobless claims tumbled to their lowest level in more than 52 years last week, the Labor Department reported Wednesday. New filings totaled 199,000, a number not seen since Nov. 15, 1969, when claims totaled 197,000. The report easily beat Dow Jones estimates of 260,000 and was well below the previous week’s 270,000. The Labor Department …
The rate of growth for the U.S. economy slowed to its fastest pandemic-era pace in the third quarter, the Commerce Department reported Thursday. Gross domestic product, a sum of all the goods and services produced, grew at a 2.0% annualized pace in the third quarter, according to the department’s first estimate released Thursday. Economists surveyed by Dow Jones had been …
Containers are stacked on the deck of cargo ship Seamax New Haven as it is under way in New York Harbor in New York City, U.S. October 13, 2021. Brendan McDermid | Reuters The U.S. economic recovery slowed sharply in the previous three months, as products remained stranded at normally bustling ports, employers struggled to find workers and consumers battled …
A National Park Service worker replaces a flag at the Washington Monument which reopened today following a six month closure due to COVID-19 safety measures, in Washington U.S., July 14, 2021. Kevin Lemarque | Reuter The U.S. economy is expected to post another roaring growth spurt in the second quarter, before a slow and steady dose of reality starts to …
U.S. President Joe Biden delivers remarks highlighting the benefits of Bipartisan Infrastructure Framework, at La Crosse Municipal Transit Utility, in La Crosse, Wisconsin, U.S., June 29, 2021. Kevin Lemarque | Reuters A bipartisan infrastructure deal reached by President Joe Biden and a group of senators would not only add to economic growth, but also lower the national debt, according to …
