Inventories also were a significant contributor, adding 0.82 percentage point to the total gain. Government spending added a tailwind as well, rising 3.9% at the federal level, including a 5.2% surge in defense outlays. On the downside, imports, which subtract from GDP, jumped 6.9%, the bigge...
level (fueled by pandemic stimulus), but US exports remain depressed. Goldman Sachs Research predicts a recovery in foreign economic growth next year will boost demand for US exports. That’s expected to narrow the trade deficit enough in 2024 to contribute 0.2 percentage points to GD...
Government spending, though, shrank at a 1.2% rate last quarter. State and local governments have started to resort to layoffs in response to falling tax revenue. The estimated drop in GDP for 2020 was the first such decline since a 2.5% fall in 2009, during the recession that followed ...
Net exports shaved 0.47 percentage points off of Q4 GDP growth, which came in at 0.7%. With the dollar likely to remain buoyed by central bank easing around the world, net exports could stabilize here or move marginally lower. Finally, let’s take a look at consumer spending, which represe...
U.S. government budget surplus 2009-2024, by quarter U.S. government - Budget surplus or deficit 2000-2029 U.S. government forecast of the budget deficit FY 2023-2034 U.S. budget balance and forecast as a percentage of GDP 2000-2034 U.S. monthly interest rate on interest-bearing debt...
local spending, reflecting increases in highway construction, offset a flat performance for the federal government. The government estimated that the 35-day partial federal shutdown trimmed 0.3 percentage point from growth in the first quarter after trimming fourth quarter growth by 0.1 percentage ...
In this scenario, GDP will rise more rapidly than the baseline forecast through to 2029. Between 2025 and 2029, this scenario expects GDP to rise at an average annual rate of 2.7%, which is 0.7 percentage points above the average in the baseline forecast. With fewer tariffs in place, this...
Inventories tumbled as businesses slowed their restocking of shelves, shaving 2 percentage points from GDP. Higher borrowing rates, a consequence of the Federal Reserve’s series of rate hikes, clobbered home construction, which shrank at a 14% annual rate. Government spending dropped, too. The ...
That means inventory accumulation contributed 0.49 percentage point to GDP growth and not the 0.61 percentage point reported last month. Investment in residential construction fell at a 4.4 percent rate instead of the previously reported 6.2 percent pace. Government spending was revised lower....
1) Work out what is driving it: Some basic digging shows the 2.8 per cent growth includes chunky contributions from: healthcare services (0.45 percentage point), inventories (0.82 percentage point), and government spending (0.53 percentage point). That should take some of the gloss away. FTAV...