GDP

U.S. economic growth was downwardly revised in the first quarter of 2024 compared to the advance estimate, with a corresponding downward adjustment in inflation for the same period. At the end of March 2024, the annualized real gross domestic product (GDP) growth rate stood at 1.3% compared to the...

The Federal Reserve’s latest Beige Book — covering April to mid-May — reveals a continuation of modest economic expansion across most Districts, though two Districts noted no change in activity from the prior release. The Beige Book provides qualitative data gathered by Federal Reserve...

The UK has successfully navigated its way out of a recession, with the gross domestic product expanding by 0.6% in the first quarter, according to official figures released on Friday. What Happened: The Office for National Statistics revealed that the UK’s GDP grew by 0.6% in the first...

We saw a weak and overstated GDP print combined with a higher inflation metric. The conclusion is that absent government spending, we’re heading for stagflation. One problem:  government spending is destroying value. Mish Shedlock warns that we can’t vote our way out of the problem...

The economic outlook for 2024 is taking an unexpected turn as economists at Macquarie have revised their predictions for interest rates, now suggesting a potential hike. What Happened: In a recent note, Macquarie’s strategists indicated that the likelihood of a Federal Reserve interest rate...

Borge Brende, the president of the World Economic Forum (WEF), expressed concerns about the global economy, warning of a potential decade of low growth due to soaring debt levels. What Happened: Speaking at the WEF’s “Special Meeting on Global Collaboration, Growth and Energy for...

As the weekend comes to a close, let’s take a look at the top stories that shaped the week. From a former senator’s skepticism about President Joe Biden’s tax proposal to the Fed’s inflation indicator, here’s a quick recap of the key events that unfolded. Former...

The latest GDP and inflation figures have sparked concerns among investors, hinting at a potential economic downturn worse than a recession. What Happened: The U.S. economy’s first-quarter growth, at an annualized rate of 1.6%, fell significantly short of the anticipated 2.5%, according to...

Wall Street suffers a double blow in Thursday’s session, as softer-than-expected revenue forecasts from Meta Platforms Inc. (NASDAQ:META) are being compounded by weaker-than-expected economic growth and higher inflationary pressures last quarter, raising fears of a stagflation phase for the U...

In a tumultuous day for tech stocks, the collective market value of the Magnificent 7 tech giants plummeted by over $300 billion in the first trading hour on Thursday, primarily fueled by a weaker-than-expected revenue outlook from Meta Platforms Inc. (NASDAQ:META) and concerning economic...

Editor’s note: This story has been updated to correct an error in Personal Consumption Expenditure data. The U.S. economy grew in the first quarter of the year, albeit at a markedly slower pace compared to the final quarter of 2023 and below economists’ predictions. The annualized...

As the week unfolds, investors are eagerly awaiting the impending release of the U.S. gross domestic product growth rate for the first quarter of 2024, set for this Thursday, ahead of the highly anticipated Personal Consumption Expenditure (PCE) price index report – the Fed’s preferred...

Editor’s note: This story has been updated with additional details. U.S. gross domestic product in the fourth quarter of 2023 was upwardly revised in the third estimate released Thursday, indicating a deceleration compared to the previous quarter but still maintaining a solid pace of growth....

The UK’s economy has officially entered a recession, raising concerns for Prime Minister Rishi Sunak as he prepares for an upcoming election. What Happened: The Office for National Statistics confirmed that the UK’s economy experienced a slight recession in the last year. The gross...

In December, we produced a version of the 5 Things titled “The Smart People Doing Smart Things Issue”. This time, we’re not so positive. This was a week of people being consistently wrong including Bitcoin bears who refuse to apply a consistent lens for their thesis when it...