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Economic Growth

June 12, 2008 | From Bloomberg News
The Federal Reserve said Wednesday that economic growth was "generally weak" in April and May as consumer spending slowed, while manufacturers in several regions passed on higher raw material costs to their customers. Three of the 12 regional Fed banks reported "softer, weaker or lower" growth and four found "slower, sluggish or modest" expansion. Five areas reported business was "stable or little changed," the central bank said in its regional economic survey known as the beige book.
April 6, 1987
According to a report from the nation's purchasing managers, the economy showed improvement in almost all indicators during March. Production was higher; new orders increased, and employment expanded for the first time since August, 1984, the report said. "The economy ended the first quarter with a healthy, if not substantial, improvement," said Robert J. Bretz, chairman of the business survey committee of the National Assn. of Purchasing Management.
April 12, 1990 | Reuters
Capital spending, after adjustment for inflation, is expected to rise by 7.6% in 1990, a sharp increase from the 4.9% rise estimated three months ago, the Commerce Department said Wednesday. However, the projected increase for this year would still be down from the 8.6% gain in spending by businesses on plant and equipment in 1989, the department said.
August 17, 1999
The county's economy continued to pick up steam through the first half of 1999, setting a pace to make this year its most successful of the decade. In its midyear review and forecast, the UC Santa Barbara Economic Forecast Project found that the local economy, primed by increased consumer spending and soaring business confidence, had grown through June at a healthy 4.1%. Comparatively, growth in all of 1998, the county economy's most successful year this decade, came in at 3.5%.
November 4, 2010 | By Don Lee, Los Angeles Times
A day after congressional elections that repudiated President Obama and slammed the door on any new economic stimulus, the Federal Reserve stepped in with a controversial plan to spur the faltering U.S. economy by pumping $600 billion into the financial system. The Fed's much-anticipated but unconventional strategy is aimed at driving down long-term interest rates in the hope of encouraging more spending and borrowing by both consumers and businesses. Together with funds from an existing purchase program, the central bank could now buy as much as $900 billion in new Treasury bonds by the end of June.
March 25, 2011 | By Jim Puzzanghera, Los Angeles Times
The economy grew at an annual rate of 3.1% in the final three months of last year, up from an earlier estimate, the Commerce Department said. The figure was roughly in line with economists' projections and the widely held view that the recovery, while still moderate, picked up some steam at the end of last year. Economic growth in the third quarter was 2.6% and had been just 1.7% in the second quarter. Overall, the nation's economic output, or gross domestic product, increased 2.9% last year, a significant turnaround from 2009, when the economy shrank 2.6%, the Commerce Department's Bureau of Economic Analysis said Friday.
October 11, 2006 | From Bloomberg News
U.S. housing sales are declining at a greater-than-expected pace that will shave 1 percentage point off economic growth in the second half of 2006, Freddie Mac said in a forecast Tuesday. Sales of new and existing homes probably will total 6.76 million this year, a drop of 9.4% from 2005's record 7.46 million homes sold, the McLean, Va.-based mortgage buyer said. Freddie Mac a month ago had predicted a sales slump of 7.9%.
August 24, 2005 | From Reuters
Mexico's Finance Ministry cut its forecast for economic growth this year to 3.5% after manufacturers hit a soft patch because of weaker U.S. demand and a slump in agricultural output. Alejandro Werner, the ministry's chief economist, said the economy would pick up pace in the second half of the year but gross domestic product growth would be less than earlier forecasts of 3.8%. Mexico's economy grew a tame 3.1% in the second quarter, way below forecasts, as farming output fell and weak U.S.
February 18, 2003 | From Bloomberg News
A war in Iraq may cut the pace of global economic growth in half from last year by reducing investment and consumer spending, an International Monetary Fund official said. Growth may fall to as little as 1.5% from 3% in 2002, Rogerio Zandamela, the IMF's representative in Brazil, said during a conference on the world's economy. Without a war, global growth may accelerate to as much as 3.5% this year, Zandamela said, citing preliminary statistics. The estimate, which comes as the U.S.
January 5, 1988 | United Press International
The developing countries of Asia chalked up healthy economic growth of 6% in 1987, but the figure is likely to drop in 1988 due to recessionary trends, a U.N. report said Monday. "The developing countries of the Asian-Pacific region achieved enviable growth in 1987 despite growing uncertainties in the global economy and the costly effects of unfavorable weather in many countries," said a year-end report issued by the U.N. Economic and Social Commission for Asia and the Pacific.
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