US PRODUCTIVITY SLUMPS SHARPLY AT 4.8% RATE IN OCTOBER-DECEMBER QUARTER

Highlights

• The report released on Thursday stated that after rising strongly in the first two quarters, the productivity fell at a rate of 4.8 percent in the last quarter

• The labor costs has gone up by 6.8 percent rate in the quarter ended in December after it we...

U.S. ECONOMY GROWS AT A RECORD PACE IN Q3

Highlights

• The Commerce Department in its third estimate of GDP said the gross domestic product managed to rebound at an annualized rate of 33.4 percent in the last quarter

• This growth of the crippling American economy will be fuelled by over $3 trillion in pande...

U.S. ECONOMY REBOUNDS BY RECORD 33.1% IN Q3

Highlights

• As per the US Commerce Department report, this overall surge in the gross domestic product (GDP), the nation’s total output of good and services remained unchanged as per the its estimate

• This jump of 33.1 percent was the largest quarterly gain r...

U.S. CONSUMER SPENDING WENT UP BY 1.4 PERCENT IN SEPTEMBER

Highlights

• After U.S. GDP surged record 33 percent in the third quarter, highest since 1947, U.S. consumers increased their spending by 1.4 percent in September

• According to the Commerce Department, the U.S. gross domestic product rebounded at a 33.1 percent annu...

U.S. GDP REBOUNDS RECORD 33 PERCENT IN THIRD QUARTER

Highlights

• According to the Commerce Department, the U.S. gross domestic product rebounded at a 33.1 percent annualized rate last year

• After slumping drastically 31.4 percent in the second quarter, the U.S. economy managed to rebound in the third quarter courtesy...

U.S. ECONOMY NEEDS AT LEAST AN YEAR TO RECOVER TO PRE-PANDEMIC LEVELS: FEDERAL RESERVE

Highlights

• Clarida on Wednesday said the COVID-19 recession threw the economy into a very deep hole and it will take some time, perhaps another year, for the level of GDP to fully recover to its previous 2019 peak

• US GDP slumped at its fastest pace in the second ...

U.S. GDP PLUNGES 31.4 PERCENT IN SECOND QUARTER

Highlights

• According to the Commerce Department, the US gross domestic product (GDP) plunged at a 31.4 percent annualized rate last quarter (April-June quarter), 0.3 percent less than what was predicted a month back

• As per the economists, the US economy is likely...

CLIMATE CHANGE TO BRING DOWN REAL U.S. GDP BY 0.03% ANNUALLY FOR NEXT 30 YEARS: REPORT

Highlights

• The CBO came up with this research paper by analysing both positive and negative contributions to gross domestic product (GDP), longer growing seasons in colder climates to drought to damage to factories from more intense storms

• Few aspects of climate ...

U.S. ECONOMY LIKELY TO SUFFER LOSSES WORTH $14 TRILLION DUE TO COVID-19 SCHOOL CLOSURES

Highlights

• The worldwide school closures in early 2020 led to losses in learning that will not easily be made up for even if schools quickly return to their prior performance levels said economists

• As per the report, students in K-12 will experience a 3 percent l...

JPMORGAN SLASHES FORECAST FOR U.S. AND GLOBAL GDP

Highlights

• It expects to observe a negative growth in two consecutive quarters
• It states that the U.S. will eventually avoid a technical recession

JPMorgan economists stated that in the face of the fast-spreading coronavirus, an econ...