If the US is in a recession, It’s a very strange one
2 years, 5 months ago

If the US is in a recession, It’s a very strange one

Live Mint  

The U.S. economy has experienced 12 recessions since World War II, and each one included two features: Economic output contracted and unemployment rose. “I would be surprised if there were a recession without much job loss," said Gregory Mankiw, a Harvard University economics professor. Robert Gordon, a Northwestern University economics professor and member of the NBER’s business cycle dating committee, said this might be a situation in which other indicators point to recession but the job market doesn’t, or it lags behind atypically for several months. “Each recession seems to have a different driving force and different duration and impact on jobs and output," said Peter Klenow, a Stanford University economics professor.

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History of this topic

Experts are warning of a global recession. Here’s what that actually means
4 months, 2 weeks ago

Experts are warning of a global recession. Here’s what that actually means

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors …

Will the US unemployment rate continue at historic lows?
8 months, 3 weeks ago

Will the US unemployment rate continue at historic lows?

Al Jazeera  

US job growth has continued at a steady clip in the months since the COVID-19 pandemic, but experts are looking for warning signs. All eyes will be on Friday’s US unemployment numbers to see how many jobs were added in March and whether the unemployment rate continues to stay in its historically low range or if it is time for …

Report: US economy grew faster than any other G7 country last year
10 months, 3 weeks ago

Report: US economy grew faster than any other G7 country last year

Daily Mail  

America's economy is growing at a faster pace than any other G7 country in part thanks to a post-pandemic productivity boom, experts say. The IMF World Economic Outlook report estimates the US economy grew by 2.5 percent in 2023 - and is set for a similar 2.1 percent growth in 2024. Figures released today show US worker productivity grew at …

US economy grew by 3.3% over the past year - ending fears of recession and sending the S&P and Dow up
10 months, 4 weeks ago

US economy grew by 3.3% over the past year - ending fears of recession and sending the S&P and Dow up

Daily Mail  

Consumers and businesses have continued to spend despite high interest rates The US economy grew much faster than expected in the final three months of last year, trouncing expectations as consumers and businesses continued to spend. The US economy grew much faster than expected in the final three months of last year, trouncing expectations as consumers and businesses continued to …

How to explain the puzzle of the world economy
1 year, 5 months ago

How to explain the puzzle of the world economy

Hindustan Times  

What is mona lisa doing? Few seem to expect a “no-landing” scenario, in which the economy remains untroubled by rising interest rates—a fashionable opinion just weeks ago, and one which itself supplanted a common view late last year that a mild recession was certain. The word “uncertainty” appears more than 60 times in the imf’s latest global economic outlook, about …

US leading indicators point to recession starting soon
1 year, 5 months ago

US leading indicators point to recession starting soon

India Today  

An index designed to track turns in US business cycles fell for the 15th straight month in June, dragged down by a weakening consumer outlook and increased unemployment claims, marking the longest streak of decreases since the lead-up to the 2007-2009 recession. The Conference Board on Thursday said its Leading Economic Index, a measure that anticipates future economic activity, declined …

The temporary madness of modern politics: is our strongest market a harbinger of recession?
1 year, 6 months ago

The temporary madness of modern politics: is our strongest market a harbinger of recession?

ABC  

Stephen Hawking, the scientific genius who solved some of the deepest secrets of our universe, summed up the fundamental problems facing modern economists. Rates and jobs part ways Not so long ago, in time before we were all sent home, the "natural rate" of unemployment was considered to be around 5 per cent. Inflation didn't immediately take off after Australia's …

How will we know if the US economy is in a recession?
1 year, 7 months ago

How will we know if the US economy is in a recession?

Associated Press  

WASHINGTON — The government’s report Thursday that the economy grew at a 1.1% annual rate last quarter signaled that one of the most-anticipated recessions in recent U.S. history has yet to arrive. The economy’s direction has confounded the Fed’s policymakers and many private economists ever since growth screeched to a halt in March 2020, when COVID-19 struck and 22 million …

How will we know if the US economy is in a recession?
1 year, 7 months ago

How will we know if the US economy is in a recession?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The economy's direction has confounded the Fed's policymakers and …

‘Recession’ is far too mild a term for what Britain is about to face
2 years, 1 month ago

‘Recession’ is far too mild a term for what Britain is about to face

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Brexit adds to the constraints on …

Is the US economy in a recession and taking the world with it?
2 years, 2 months ago

Is the US economy in a recession and taking the world with it?

Al Jazeera  

The US is facing rising recession fears as the Federal Reserve remains bullish in fighting high inflation. The United States is facing rising recession fears as the Federal Reserve, the country’s central bank, remains bullish in fighting high inflation and officials increasingly talk about the need to impose some economic pain to get price pressures under control, several economists told …

US economy shrank from April through June, second time in a row
2 years, 2 months ago

US economy shrank from April through June, second time in a row

Al Jazeera  

The United States economy continues to send mixed signals with some believing it is on the brink of a recession while others point to a stronger than usual jobs market. Battered by surging consumer prices and rising interest rates, the United States economy shrank at a 0.6 percent annual rate from April through June, the government has announced, unchanged from …

As recession fears grow, strong US hiring is likely slowing
2 years, 4 months ago

As recession fears grow, strong US hiring is likely slowing

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Overall conditions aren’t nearly as strong as what we …

United States recession fears grow as economy contracts for second quarter
2 years, 4 months ago

United States recession fears grow as economy contracts for second quarter

ABC  

The United States economy has unexpectedly contracted in the second quarter, with consumer spending growing at its slowest pace in two years and business spending declining, raising speculation the economy is on the cusp of a recession. Key points: Prices for groceries, petrol and other basics increased at the fastest pace since 1981 Job growth averaged 456,700 per month in …

US economy shrinks for a 2nd quarter, raising recession fear
2 years, 4 months ago

US economy shrinks for a 2nd quarter, raising recession fear

Associated Press  

WASHINGTON — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession. “The fact that the economy created 2.7 million payrolls in the first half of the year would seem to argue against an official recession call for now.” Still, …

US economy shrinks for a second quarter, fuelling recession fears
2 years, 4 months ago

US economy shrinks for a second quarter, fuelling recession fears

Al Jazeera  

The fall in US GDP comes on the heels of the Federal Reserve raising interest rates, as Chair Jerome Powell says growth needs to slow. The US economy shrank for a second straight quarter, raising chances of a recession, as decades-high inflation undercut consumer spending and Federal Reserve interest-rate hikes stymied business investment and housing demand. The report illustrates how …

What does a US recession mean for the global economy?
2 years, 4 months ago

What does a US recession mean for the global economy?

The Telegraph  

The United States has entered a recession after a surprise contraction during the second quarter of the year. It followed a 1.6pc annualised decline in the first quarter – marking two quarters of negative growth. That is a so-called technical recession, and almost anywhere in the world would likely be recorded as an official recession. The US works a little …

The recession we have been dreading is about to strike
2 years, 6 months ago

The recession we have been dreading is about to strike

The Telegraph  

“We expect the economy to struggle under the weight of higher interest rates and to enter a short recessionary period at the end of the year, extending into the first quarter of 2023.” Martin Beck, chief economic adviser to the EY Item Club, says “the retail sector is already effectively in recession” with the damage spreading as inflation combines with …

What is a recession, and how scared should we be?
2 years, 7 months ago

What is a recession, and how scared should we be?

CNN  

New York CNN Business — Around the world, warning signs of a recession are flashing. “We will get a major recession,” Deutsche Bank economists warned last month, staking out the more bearish position on Wall Street. Bank of America, in the still-grim-but-less-dire camp, said the mood in financial markets has been “recessionary.” Goldman Sachs is among the more optimistic of …

We're not in recession now? Here's what today's GDP figures mean
3 years, 3 months ago

We're not in recession now? Here's what today's GDP figures mean

ABC  

Today's GDP figures show the economy grew by 0.7 per cent in the June quarter. Economic activity grew by 0.7 per cent in the June quarter, following growth of 1.9 per cent in the March quarter "We should remind ourselves that the Australian economy was booming for a lot of the second quarter and some of the monthly data was …

US recovery from pandemic recession is showing momentum
3 years, 7 months ago

US recovery from pandemic recession is showing momentum

Associated Press  

WASHINGTON — Powered by consumers and fueled by government aid, the U.S. economy is achieving a remarkably fast recovery from the recession that ripped through the nation last year on the heels of the coronavirus and cost tens of millions of Americans their jobs and businesses. The economy grew last quarter at a vigorous 6.4% annual rate, the government said …

US economy shrank 3.5% in 2020 after growing 4% last quarter
3 years, 10 months ago

US economy shrank 3.5% in 2020 after growing 4% last quarter

Associated Press  

WASHINGTON — Stuck in the grip of a viral pandemic, the U.S. economy grew at a 4% annual rate in the final three months of 2020 and shrank last year by the largest amount in 74 years. So even as the economy was sinking last year, investors looked ahead to hopes for vaccines and government aid and to solid company …

The recession is technically over but for wages and jobs, the recovery is a long way away
4 years ago

The recession is technically over but for wages and jobs, the recovery is a long way away

ABC  

It's a big bounce back, undeniably, but we're not out of the woods yet. The 3.3 per cent boost to Australia's economic growth from July to September is stronger than most anticipated, but keep in mind the base it's coming off: a 7 per cent fall in the prior three months, as COVID-19 health restrictions shut down large tracts of …

US GDP surges 33.1% in Q3, biggest gain on record, says govt
4 years, 1 month ago

US GDP surges 33.1% in Q3, biggest gain on record, says govt

Live Mint  

After the worst downturn on record, the US economy posted the strongest recovery on record as it expanded at a 33.1 percent annual rate in the third quarter, the Commerce Department reported Thursday. That came after a 31.4 percent drop in the April-June period during the worst of the Covid-19 pandemic, and a five percent drop in the first quarter. …

Australian recession confirmed as COVID-19 triggers biggest economic plunge on record
4 years, 3 months ago

Australian recession confirmed as COVID-19 triggers biggest economic plunge on record

ABC  

Australia is officially in its first recession for almost three decades, with the June quarter GDP numbers showing the economy went backwards by 7 per cent — the worst fall on record and slightly worse than most economists had predicted. Key points: GDP plunged 7 per cent in the June quarter, more than three times the previous biggest fall of …

UK plunges into deepest recession on record, as economy shrinks 20 per cent in second quarter
4 years, 4 months ago

UK plunges into deepest recession on record, as economy shrinks 20 per cent in second quarter

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The economy shrank by 20.4 per cent in the …

U.S. economy shrank at record-breaking 33% rate last quarter
4 years, 4 months ago

U.S. economy shrank at record-breaking 33% rate last quarter

The Hindu  

The U.S. economy shrank at 33% annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7 %, the government said Thursday. Last quarter’s drop followed a 5% fall in the January-March quarter, during which the …

US economy shrinks at record 32.9% pace in second quarter
4 years, 4 months ago

US economy shrinks at record 32.9% pace in second quarter

Live Mint  

The US economy suffered its sharpest downturn since at least the 1940s in the second quarter, highlighting how the pandemic has ravaged businesses across the country and left millions of Americans out of work. Gross domestic product shrank 9.5% in the second quarter from the first, a drop that equals an annualized pace of 32.9%, the Commerce Department’s initial estimate …

US Economy Likely Suffered Historic Plunge in Second Quarter; Outlook Murky as Covid-19 Cases Surge
4 years, 4 months ago

US Economy Likely Suffered Historic Plunge in Second Quarter; Outlook Murky as Covid-19 Cases Surge

News 18  

The US economy likely contracted at its steepest pace since the Great Depression in the second quarter as the COVID-19 pandemic destroyed consumer and business spending, potentially wiping out more than five years of growth. "The bottom fell out of the economy in the second quarter," said Sung Won Sohn, a finance and economics professor at Loyola Marymount University in …

Covid hit US jobs much more than 2008 crisis
4 years, 5 months ago

Covid hit US jobs much more than 2008 crisis

Live Mint  

Unemployment in the United States has risen to historic highs in recent months due to covid-19. Businesses struggled to stay afloat due to social distancing rules, and livelihoods were lost, much like the 2008 financial crisis. But a new study finds that the current crisis has hit the US economy even harder. Shibata defines jobs that were allowed during the …

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