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U.S. GDP growth rate a tepid 0.7% in first quarter

U.S. GDP growth rate a tepid 0.7% in first quarter

The U.S. economy expanded at an annualized pace of 0.7% in the first quarter, the Commerce Department reported this morning. That’s the slowest pace in three years. Economists surveyed by Bloomberg were looking for growth of better than 1%. The Atlanta...
Hello! The real economy comes calling this week

Hello! The real economy comes calling this week

Amidst all the guessing about what Congress and the President will do this week to head off a possible government shutdown when spending authorization ends on April 28–and all the speculation about how financial markets will react–we should remember that...
Jobs report not too hot, not too cold

Jobs report not too hot, not too cold

So how many lives does this Goldilocks market have, anyway? This morning the Bureau of Labor Statistics reported that the U.S. economy added just 98,000 jobs in March. That was the weakest gain since May 2015 and way under the 180,000 jobs expected by economists...
Make America Happy Again

Make America Happy Again

The new World Happiness report is out. And it’s enough to make you sad. If you live in the United States. According to the Sustainable Development Solutions Network and the Ernesto Illy Foundation, the United States slipped in 2016 to rank just 19th among the...
Mixed fallout from higher revision to U.S. GDP growth

Mixed fallout from higher revision to U.S. GDP growth

The news that U.S. economic growth in the third quarter had been revised upward to 3.5% from an earlier 3.2% has been a mixed blessing for the financial markets. Higher growth has helped stocks resume their post-election rally. But it hasn’t helped the bond...
Sales growth without profits for the holidays?

Sales growth without profits for the holidays?

Solid growth in retail sales for the November and December holiday shopping season. Retail profits not so much. For November, advance estimates show retail and food services sales climbing 3.7% from November 2015, according to the U.S. Census Bureau. For December,...
How long will consumers dip into savings to keep spending?

How long will consumers dip into savings to keep spending?

Yesterday I wrote >http://jubakpicks.com/what-me-worry/ that the combination of slower GDP growth (1.2%) in the second quarter plus declining consumer sentiment worried me. Continued strong consumer spending–household consumption grew at a 4.2% rate–in...
What me worry?

What me worry?

Am I the only one who finds Friday’s GDP report of 1.2% annualized growth worrying? Especially when combined with a drop in consumer sentiment? What’s bothering me? The deeply disappointing second quarter GDP number was only as good as it was because...