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Recovery Realities.
16 hours ago ago from But Then What
So today we learned that the wasn't quite as strong as we originally supposed. In fact, when you dig through the numbers it didn't amount to much at all. First, the facts. Third quarter GDP growth was downgraded from 3.5% (the initial estimate) to 2.2%, the current estimate. In between, it temporarily was placed at 2.8%. To add salt to the wound, the contribution from automobile sales is estimated to account for 1.45 percentage points of ...
Related contentBrazil Central Bank Sees CPI Above Target in 2010 (Update2)
22 hours ago ago from All About Work & Financial
Brazil’s inflation rate will rise above the country’s target by the end of 2010 as growing domestic demand fuels the fastest economic expansion in three years, according to a central bank report. Consumer prices will increase 4.6 percent in 2010 and 2011 from 4.3 percent this year, the central bank said in a quarterly report posted on its Web site today. At the same time, economic growth will accelerate to 5.8 percent next year, up from a ...
Related contentThe Shrinking Recovery
11 hours ago ago from Smart and silly
The US economy grew at a small rate than before thought. The economy grew at a revised 2.2 percent down from 2.8 percent in third quarter of 2009. The good news is that the economy is surer footing. The Commerce Department report on the gross domestic product (GDP) was 2.2 percent for the third quarter(the period from July to September). Last month the estimated amount was higher. The factors for the decline include: commercial ...
Related contentGDP Revised Down to 2.2%, Economists Remain Concerned
21 hours ago ago from Stockstrategist's Blog
U.S. third quarter gross domestic product (GDP) was revised downward today after initial estimates of 3.5 percent two months ago and 2.8 percent last month gave way to a final 2.2 percent annual economic growth rate. Economists had expected only a minor -0.1 percentage point change from the recent 2.8 percent estimate. The lower GDP number created concern among economists regarding the strength of the economy in the absence of extraordinary ...
Related contentIndian Finance Minister: Economy Could Grow by 8%
10 hours ago ago from India Briefing News
Dec. 23 - Finance Minister Pranab Mukherjee said today that the Indian economy could grow by 7.5 to 8 percent during the current financial year. The Mid Year Review projected a growth rate of 7.75 percent, but it would be more appropriate to say 7.5 to 8 percent , Mukherjee said, addressing the 104th annual session of the industry chamber PHDCCI. The Review, tabled in Parliament by the minister last week, had said the growth rate ...
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Third-Quarter Growth Weaker Than First Thought
17 hours ago ago from The New York Times
Data released on Tuesday indicated that the economic recovery, while still uneven, has carried into the end of the year, and analysts expect it to gain strength, a view seconded by investors. The New York Times The New York Times The fragile housing sector showed signs of firming up, according to a report from the National Association of Realtors , with existing home sales climbing a greater-than-expected ...
Related contentU.S. Personal Income and Spending Up in November
6 hours ago ago from The New York Times
WASHINGTON (AP) Personal incomes rose in November at the fastest pace in six months while spending posted a second consecutive increase, hopeful signs that the recession might be gaining momentum. The Commerce Department said personal incomes were up 0.4 percent in November, helped by a $16.1 billion increase in wages and salaries, reflecting the drop in unemployment that occurred last month. The gain in incomes helped bolster spending, ...
Related contentNew-Home Sales Plunge 11.3 Percent in November
5 hours ago ago from DailyFinance
Sales of new homes plunged unexpectedly last month to the lowest level since April, a sign the housing market recovery will be rocky. The Commerce Department says November's sales fell 11.3 percent to a seasonally adjusted annual rate of 355,000 from a downwardly revised 400,000 in October. Economists surveyed by Thomson Reuters had expected a pace of 440,000. Continue reading New-Home Sales Plunge 11.3 Percent in November New-Home ...
Related contentAmkor shares jump after company raises 4Q outlook
23 hours ago ago from U.S. News
Amkor shares jump after company raises 4Q outlook NEW YORK (AP) -- Shares of Amkor Technology Inc. rose sharply Tuesday after the company raised its fourth-quarter guidance, citing higher higher-than-expected demand for its semiconductor assembly and testing services. Amkor expects revenue to grow 6 percent from the third quarter. It previously forecast fourth-quarter revenue to range within 2 percent of the third quarter. Given Amkor's ...
Related contentRI shows 1st gain in home prices in 3 years
5 hours ago ago from U.S. News
RI shows 1st gain in home prices in 3 years PROVIDENCE, R.I. (AP) -- Home prices in Rhode Island have risen slightly for the first time in more than three years. A survey released Tuesday by the Rhode Island Association of Realtors showed the median home price in the state climbed just over 1 percent in November to $205,000 compared to the same period last year. That marks the first upward swing in prices since July 2006, just before ...
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