economic growth Archives - The Connecticut Star

Commentary: Biden Gaslights America on the Economy

February 16, 2024 Connecticut Star Staff

Joe Biden is gaslighting America on the economy. His administration is trying to oversell what has underperformed for several reasons: First, the economy is the one issue that affects most Americans most significantly. Second, Biden is doing worse on virtually every other issue. Finally, time is short: the economy is about to get worse, and the election is close. The administration’s strategy is to get Americans to believe what they hear and doubt what they see.

More Investors Bet Inflation Is Here to Stay amid Disappointing Price Data

February 15, 2024 Connecticut Star Staff

More investors are projecting a “no landing” scenario where inflation remains elevated but economic growth continues at its current levels following a disappointing inflation report on Tuesday, according to Reuters.

Nearly one out of five fund managers polled by Bank of America predicted a “no landing” scenario as the most likely outcome in the next year, with concerns about such a scenario being intensified by a poor inflation reading that sent U.S. markets into a frenzy on Tuesday, according to Reuters. Tuesday’s consumer price index (CPI) report showed inflation decelerated in January to 3.1% year-over-year from 3.4% in the preceding month, higher than expectations of 2.9%.

China Finishes Off Year with Sluggish Growth as Economy Fails to Recover

January 17, 2024 Connecticut Star Staff

China’s economy grew at a rate of 5.2% in 2023, failing to return to the same growth of around 6% year-over-year that was common before the COVID-19 pandemic, according to The Wall Street Journal.

The year’s growth was an improvement on the even worse growth in 2022, which totaled just 3% for that year, and economists expect similar sluggish growth in 2024 unless a big policy change occurs, according to the WSJ. A number of different indicators added to the dismal report, including real growth in urban disposable income, which grew at just 4.8% in 2023 and was the lowest year since 2002, barring 2020 and 2022.

GDP Report: U.S. Economic Growth Slows

April 28, 2023 The Center Square

The U.S. economy is growing at a slower pace, newly released economic data shows.

The Bureau of Economic Analysis released Gross Domestic Product Data Thursday that showed the size of the U.S. economy increased by 1.1% in the first quarter of 2023, more slowly than the previous quarter.

International Monetary Fund Projects Weaker Than Expected 2022 Economic Growth for U.S. and China

January 27, 2022 Admin

The International Monetary Fund (IMF) cut its global economic growth forecast for 2022 on Tuesday, citing growing COVID-19 cases, supply chain bottlenecks and soaring inflation.

The IMF now projects global gross domestic (GDP) product to grow 4.4% in 2022, down from 5.9% growth in 2021, according to the IMF’s World Economic Outlook report published Tuesday. The IMF projected global GDP would reach 4.9% in its Fall report.

“The global economy enters 2022 in a weaker position than previously expected,” the report said, blaming “downside surprises,” including soaring COVID-19 cases and turbulent markets.