Tag: economic growth
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Consumer confidence climbs to 2-year high as worry over inflation and recession ease
[ad_1] The numbers: A survey of U.S. consumer confidence climbed to a two-year high of 117.0 in July, a sign that Americans are growing more optimistic about the economy. The closely followed index rose 6.9 points from a revised WAS 110.1 in June, the Conference Board said Tuesday. Consumer confidence tends to signal whether the…
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South Korea’s economy grows faster than expected in second quarter
[ad_1] South Korea’s economy grew at a faster-than-expected pace in the second quarter, remaining on track for recovery after avoiding a technical recession in the previous quarter. Gross domestic product in Asia’s fourth-largest economy grew 0.6% on-quarter during the April-June period following a 0.3% increase in the first quarter, preliminary Bank of Korea data showed…
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Opinion: China is feeling the pinch from a weakening global economy and U.S. restrictions
[ad_1] For decades, China set a shining example of how to capitalize on globalization to accelerate domestic economic growth and development. These days, however, the country risks becoming a cautionary tale about mishandling globalization’s shift from a beneficial tailwind to a disruptive headwind. Although the Chinese economy’s recent travails have some unique characteristics, they illustrate…
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Stock-market ‘meltup’ to continue if no recession signs, says Steve Eisman of ‘Big Short’ fame
[ad_1] “‘So far there’s no evidence of recession, and so long as there’s no evidence of recession, I believe the market will continue to melt up.”” — Steve Eisman, managing director at Neuberger Berman That’s Steve Eisman, whose bets against collateralized-debt obligations tied to the U.S. housing market catapulted him to international fame following the…
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China’s property woes offer a window into the demise of the country’s boom times
[ad_1] As China’s economic recovery continues to underwhelm, observers’ sights are turning from the country’s intractably weak consumer sector to the more worrying downturn in the enormous Chinese real-estate market. Sluggish economic growth in general and a softening property market in particular have increased expectations for stimulus measures to inject life into a post-COVID recovery…
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Are we still going to have a recession? Maybe next year.
[ad_1] A U.S. recession is still possible, economists say. They’re just not entirely sure when. “I think that a gradual slowdown will still result in a recession,” said senior economist Ben Ayers of Nationwide. “The timing of this is highly difficult to pin down.” Ayers is far from alone. Many Wall Street economists think a…
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Morgan Stanley credits Bidenomics in lifting its U.S. economic-growth outlook
[ad_1] At least one major investment bank has bought into Bidenomics. President Joe Biden’s Infrastructure Investment and Jobs Act has seeped into the domestic economy, “driving a boom in large-scale infrastructure,” wrote Ellen Zentner, chief U.S. economist for Morgan Stanley, in a research note out late this week. Plus, she wrote, “manufacturing construction has shown broad…
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Oil edges higher after back-to-back declines
[ad_1] Oil futures rose Tuesday after posting back-to-session declines, with prices finding support from expectations that U.S. and global crude supplies will tighten. Traders also awaited official U.S. data on weekly petroleum supplies set for release on Wednesday. Price action West Texas Intermediate crude for August delivery CL.1, +1.75% CL00, +1.70% CLQ23, +1.75% rose $1.05,…
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Goldman chief economist lowers U.S. recession odds
[ad_1] Another voice chimed in to the growing debate about whether there will be a U.S. recession as Goldman Sachs lowered the chances of a deterioration. Goldman chief economist Jan Hatzius trimmed the probability of a recession in the next 12 months to 20% from 25% — well below the 54% median among forecasters who…
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Investors start to fret that China, Europe may drag U.S. economy down with them
[ad_1] It’s not just U.S. recession risks that investors care about anymore, but whether China and Europe could drag the world’s largest economy into a downturn. That was the case on Monday following disappointing second-quarter growth data from China which overshadowed comments from Treasury Secretary Janet Yellen, who said she sees no U.S. recession. European…