August 29, 2013 |
WASHINGTON -- The American economy grew at a considerably faster pace in the second quarter than previously thought, as revisions showed stronger U.S. trade activity and business investments in nonresidential structures. The Commerce Department said Thursday that the nation's gross domestic product, or total economic output, expanded at an annual rate of 2.5% in the April-to-June period. That was up from GDP growth of 1.1% in the first quarter of the year and 0.1% in last year's fourth quarter.
August 12, 2013 |
Japan's economic growth slowed in the second quarter, spurring debate over whether the country should raise its sales tax in order to more quickly pay down its public debt. The country's gross domestic product grew at an annualized 2.6%, coming in at a lower rate than many analysts' expectation of 3.8%. The previous quarter's GDP growth rate was also revised downward from 4.1% to 3.8%, the Japanese government said Monday. Top celebrity overseas commercials Japan's economy, which has had record deflation for much of the past two decades, has seen aggressive actions by Prime Minister Shinzo Abe to turn around the world's third-largest economy.
July 31, 2013 |
WASHINGTON -- Economic growth unexpectedly picked up in the second quarter of the year, expanding at a still-sluggish 1.7% annual rate, the Commerce Department said Wednesday. The figure was a significant improvement over the 1.1% growth rate in the first quarter, which was revised down Wednesday from an earlier 1.8% estimate. Analysts had expected economic growth to have slowed down in the second quarter, with economists surveyed by Bloomberg News projecting just 1% growth. Although the initial read on the pace of economic expansion from April through June far exceeded those estimates, it remained weak in the face of tax increases and federal spending cuts that kicked in this year.
June 27, 2013 |
A new national survey ranked California Gov. Jerry Brown at No. 10 among U.S. governors for private-sector job creation since he took office in 2011. In its ranking, On Numbers, a blog from the American City Business Journals, noted that under Brown's leadership , the state has added 622,000 private sector jobs for an annual growth rate of 2.3%. The rankings are based on seasonally adjusted data from the U.S. Bureau of Labor Statistics. Economists have noted that a governor's job creation record is sometimes the consequence of factors outside their control.
June 26, 2013 |
WASHINGTON -- The U.S. economy struggled even more than originally thought in the first three months of the year, growing at an anemic 1.8% annual rate, the Commerce Department said Wednesday. The growth rate has been revised down twice after the initial reading of 2.5% growth in the first quarter. Growth is widely expected to pick up in the second quarter as consumers and businesses adjust to tax hikes and federal spending cuts this year. QUIZ: How much do you know about the federal budget cuts?
May 30, 2013 |
WASHINGTON -- The U.S. economy expanded at a slightly slower pace in the first three months of the year than originally estimated, as steeper government spending cutbacks and reduced private investment dragged on growth. The Commerce Department on Thursday reported that the nation's total economic output -- also known as gross domestic product -- grew at a 2.4% annual rate. The initial estimate last month was a 2.5% annual growth rate in the first quarter. The figure gets revised twice as government economists get more data.