Public Information Notice: IMF Executive Board Concludes the 2009 Article IV Consultation with Uruguay Nov 12, 2009
Real GDP contracted by 2 ... In the second quarter, real GDP expanded again, by 0. (IMF News)
New England economic forecast, state-by-state Nov 11, 2009
The third quarter of 2009 was disappointing for Massachusetts, as the state's real GDP growth slid at an annualized rate of 1 ... The state's real GDP of $37. (Concord Monitor)
Press Release: IMF Executive Board Approves US$1.7 Billion Stand-By Arrangement for the Dominican Republic Nov 10, 2009
Real GDP grew 40 percent in the last 5 years, one of the highest expansions in Latin America and the best performance of the Dominican economy in the last quarter of a century. Inflation fell from over 40 percent in 2003 to 4. (IMF News)
The Keynesian kick Nov 9, 2009
The big recovery in consumer confidence came after we received news that real GDP grew in the March quarter, thus avoiding the ''two successive quarters of negative growth'' silliness and prompting the media to trumpet the wrong (but nonetheless helpful) message that we'd avoided recession. So the reality of the spending boost in the March quarter had a favourable effect on the psychology of businesses and consumers in subsequent quarters, thus perpetuating a virtuous circle of spending. (Sydney Morning Herald -- Business)
Look at jobless to measure recession Nov 8, 2009
It worked so well it managed to avert any contraction in real GDP, though it hasn't prevented (on present forecasts) three years of ''weak growth'' - growth below the trend and ''potential'' annual rate of about 3 per cent - and so hasn't prevented a significant rise in measured and hidden unemployment. Conclusion: yes, we have had a recession, but it's been surprisingly mild and we're now in the recovery phase (which, because of lags, won't prevent unemployment from continuing to rise for... (Sydney Morning Herald -- Business)
Creating Real Jobs: QuantumSphere and the Challenge of 2010 Nov 8, 2009
That's how jobs are really created and that's how real GDP growth is achieved. The past year in D.C. has been an exercise in unicorn wishing done by 535 legislators and one president with almost zero experience in ever creating even one job. (Townhall.com)
Triumph of fiscal delusion over economic reality Nov 7, 2009
The best definition of recession is from Treasury: ''A recession is a sustained period of either weak growth or falling real GDP, accompanied by a significant rise in the unemployment rate ... Though it managed to avert any contraction in real GDP, it hasn't prevented (on present forecasts) three years of weak growth, and so hasn't prevented a significant rise in measured and hidden unemployment. (Sydney Morning Herald -- Business)
Press Release: IMF Concludes Visit to The Gambia for the Sixth Review of the Three-Year Program Under the Poverty Reduction and Growth Facility Nov 6, 2009
Looking ahead, real GDP growth is projected to rise slightly in 2010, based on a partial recovery in tourism and remittances. Given the uncertainty of weather conditions for agriculture and prevailing weakness in some countries with economic linkages to The Gambia, there are still downside risks to the outlook for 2010. (IMF News)
The Economics of a GOP Gubernatorial Sweep Nov 6, 2009
In fact, the average real GDP growth rate for the first quarter of the 10 postwar recoveries is 7. 3 percent. (Human Events Online)
Fed holds key interest rate near zero Nov 5, 2009
In the first two quarters of 2009, the U.S. real GDP decreased 6. 4 percent and 0. (Xinhuanet, China)
Public Information Notice: IMF Executive Board Concludes 2009 Article IV Consultation with the Solomon Islands Nov 5, 2009
Real GDP growth is projected at 0. 4 percent this year, compared to 6. (IMF News)
World Bank: Malaysia'a 2009 GDP to contract 2.3%, grow 4.1% in 2010 Nov 4, 2009
BANGKOK: Malaysia's near-term outlook shows a slow process of recovery, with real GDP projected to contract 2. 3 per cent this year before growing by 4. (The Star Online, Malaysia)
Kingdom of the Netherlands—The Netherlands 2009 Article IV Consultation: Preliminary Conclusions Nov 3, 2009
The mission expects real GDP to contract by 4 percent this year and expand modestly by percent in 2010. Accordingly, output will fall well below potential, and inflation remain subdued. (IMF News)
Oil prices rebound on weak dollar, US, Chinese data Nov 3, 2009
"We expect real GDP (gross domestic product) to grow 2.5 percent at an annual rate in the final three months of the year, a slight moderation from the third quarter's 3.5 percent gain.". Official data released Thursday showed the US economy grew for the first time in a year at a stronger-than-expected 3. (Yahoo! Asia News)
Press Release: IMF Announces Staff Level Agreement with Seychelles on a 3-year Successor Arrangement Under the Extended Fund Facility Nov 3, 2009
The economy is responding well to the reforms and the contraction in economic activity will be somewhat less than previously forecast, with real GDP now expected to decline 7. 5% in 2009. (IMF News)
Getting a Fix on the Fed Nov 3, 2009
5% annualized growth rate reported provisionally last week for third-quarter real GDP was a stronger-than-expected exit from recession. It featured rebounds in consumer spending and residential investment, while business fixed investment and state and local spending fell less than we had anticipated. (BusinessWeek)
GCC non-oil economies to grow by 2% in 2009 Nov 2, 2009
But the rate remains far lower than that recorded in 2008, when GCC nations' real GDP increased by around 6 ... The study said that overall, real GDP growth was forecast at 9. (People's Daily Online, China)
Nations GDP rises 3.5 percent in third quarter Nov 1, 2009
In the second quarter, real GDP the output of goods and services produced by labor and property in the United States decreased 0 ... The increase in real GDP in the third quarter primarily reflected positive contributions from personal consumption expenditures, exports, private inventory investment, federal government spending and residential fixed investment ... 66 percentage points to the third-quarter change in real GDP after adding 0. (East Bay Business Times, CA)
Stimulus: The Good News, and the Bad Oct 31, 2009
Without those, President Obama's chief economic adviser, Christina Romer, said on Oct. 29: "Real GDP would have risen little, if at all.". The Obama Administration and Congress don't appear to have the stomach for another major stimulus act, in part because the ballooning federal deficit will mean higher taxes in the future and possibly higher interest rates if bond investors get nervous. (BusinessWeek)
US consumers spend less as clunkers plan ends Oct 31, 2009
"In the fourth quarter, we are going to get a very strong boost from inventories. We are set for a 2.5 percent minimum real GDP (growth) number.". Data next Friday is expected to show the US unemployment rate rose to a new 26-year high of 9. (Sydney Morning Herald -- Business)
The GDP Mirage Oct 30, 2009
What's more, the rise in real GDP, combined with a sharp fall in employment in the third quarter, implies that productivity also soared during the period. Good news, right. (BusinessWeek)
Press Release: Statement of the IMF's Mission to Zimbabwe Oct 30, 2009
As a result of these improved policies, real GDP is projected to grow by about 3 percent. Credit expansion, led by post-hyperinflation remonetization and capital inflows, is supporting economic activity. (IMF News)
What next for US economy? Oct 30, 2009
Also, the strength in foreign currencies relative to the dollar will help boost US exports - and make a positive contribution to real GDP this year and next year. The global rebound and recovery will also help stimulate US exports and will help the US economy in ways that didn't happen previously. (BBC News -- Business)
Zimbabwe: Country On Right Track, Says IMF Oct 30, 2009
"The economy has begun to recover in 2009, albeit from a low base. Since early 2009, the Government has broadly adhered to cash budgeting, achieved a significant improvement in budget revenue, established a multi-currency system, and largely liberalised prices and the exchange system. As a result of these improved policies, real GDP is projected to grow by about 3 percent," said head of delegation Vitaliy Kramarenko in a statement on the mission. However, the IMF is also understood to have been... (allAfrica.com)
US out of recession, grows 3.5%, watchful India not celebrating yet Oct 30, 2009
94 percentage points to real GDP in the third quarter ... The weak dollar boosted exports, but a rise in imports subtracted from real GDP during the quarter. (India Times)
Is U.S. economy out of the woods? Oct 30, 2009
In the first two quarters of 2009, the U.S. real GDP (gross domestic product) decreased 6 ... Data showed that the increase in real GDP in the third quarter of this year reflected a wide range of positive contributions from different economic sectors ... 94 percentage points to the third-quarter change in real GDP after subtracting 1. (Xinhuanet, China)
Economy grows in Q3, unofficially ends recession... Oct 30, 2009
The weaker dollar boosted exports but a rise in imports subtracted from real GDP. Federal government spending helped growth but both state and local governments were a drag. Business investment fell at a 2. (The Drudge Report)
US economy likely to post first growth in year Oct 29, 2009
NBER says a recession is "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.". Recommend. (Yahoo! Asia News)
Goldman Sachs cuts GDP view Oct 29, 2009
"Based on this information as well as other data released in the past couple of weeks -- including complete book value inventory data for August -- we now estimate that real GDP rose at a 2.7 per cent annual rate, somewhat less than the 3 per cent annual rate that we had previously thought," they said. Data on GDP -- a gauge of economic growth, which the government will report on Thursday, is expected to show a rise of 3. (Sydney Morning Herald -- Business)
US economy poised to show growth in third quarter Oct 26, 2009
NBER says a recession is "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.". Moreover, the NBER generally waits months before its pronouncement, leaving the question of recession or not in limbo. (Sydney Morning Herald -- Business)
Economists forecast hiring, GDP increasing Oct 26, 2009
However, growth isn't expected to rebound sharply, with about 55 percent of respondents expecting real GDP will rise no more than 2 percent in 2010. The latest quarterly survey also shows that more companies reported rising demand for their products, as industry demand rose for the first time in five quarters. (MSNBC -- Business)
Dollar ends week higher as caution takes over Oct 24, 2009
Real GDP likely rose by 3. 0 percent quarter-to-quarter, helped by the "cash for clunkers" program and slower inventory liquidation, the Nomura Economic Research said. (Xinhuanet, China)
Wesbury: Bull Market into 2011 Oct 24, 2009
5 points to real GDP growth but growth will be negative in the fourth ... 2 points to the real GDP growth rate during last quarter of this year. (Newsmax)
Asia, the Financial Crisis, and Global Economic Governance, Speech by John Lipsky, First Deputy Managing Director of the International Monetary Fund at the Federal Reserve Bank of San Francisco Conference, Santa Barbara, California Oct 22, 2009
Measured from peak to trough, real GDP has fallen by nearly 4 percent in the United States, but it fell by more than 8 percent in Japan and by about 7 percent in emerging Asia (excluding China, India, and Indonesia). Fortunately, the global economy has begun to pull out of recession, and Asia looks set to emerge from the downturn both sooner and stronger than any other region. (IMF News)
Lithuania -- September 2009 Staff Visit, Concluding Statement Oct 17, 2009
The latest World Economic Outlook projection forecasts real GDP to decline by 18 percent this year and by 4 percent in 2010. At this juncture, the unwinding of the imbalances triggered by the sharp reversal in capital inflows, outweighs the effects of the expected gradual recovery in trading partners. (IMF News)
ROSS GITTINS Oct 17, 2009
If you look at real GDP per person, it has fallen in three of the past five quarters. Saturday September 26, 2009. (Sydney Morning Herald -- Business)
Economists: Worst of recession is over Oct 16, 2009
7 percent drop in the second quarter, NABE forecasters expect real GDP to rise at an above trend 2. 9 percent rate in the second half, NABE President-Elect Lynn Reaser noted in a statement. (Baltimore Business Journal, MD)
U.S. says China not currency manipulator Oct 16, 2009
"Since the end of the dollar peg in July 2005, the renminbi has appreciated a cumulative 21.2 percent against the dollar and 15.7 percent on a real effective basis, based on the BIS (Bank for International Settlements) measure, said the report. According to the BIS index, China's real effective exchange rate appreciated 13.3 percent between June 2008 and February 2009, it said. The report also said China has made notable contributions to the world economic recovery. China's "timely and... (Xinhuanet, China)
U.S. stocks rallied on Wednesday as upbeat earnings from Intel and JPMorgan Chase boosted market sentiment. Dow returned to above 10,000 points for the first time in a year.• U.S. Fed sees economy in "restrained" recovery Oct 15, 2009
Many Fed officials raised their "projection for real GDP growth over the second half of 2009 and over 2010.". "Developments in financial markets were again regarded as broadly positive; participants saw the cumulative improvement in market functioning and pricing since the spring as substantial," the statement said. (Xinhuanet, China)
The $800 Billion Deception Oct 13, 2009
"There is broad agreement that the ARRA has added between 2 and 3 percentage points to baseline real GDP growth in the second quarter of 2009 and around 3 percentage points in the third quarter," the CEA reports. Given that Macroeconomic Advisers is projecting the economy grew at about a 3 percent clip in the third quarter, it's possible that stimulus activity could have meant the difference between growth and contraction in the just-ended quarter. (Slate)
Press Release: IMF Commends Middle Eastern Oil Exporter's Countercyclical Policy Response; Envisages Muted Recovery for Region's Oil Importers Oct 11, 2009
Real GDP Growth (Annual change; percent). MENAP. (IMF News)
China's roaring economy: Bull in a china shop Oct 9, 2009
Figures due later this month are likely to show that China s real GDP grew by around 9% in the year to the third quarter a period over which output in most other economies probably fell. A recent flurry of bearish reports has warned that sooner or later the markets will crash, excessive borrowing and investment will cause banks bad loans to surge, and China s growth will collapse. (The Economist)
Bernanke works onas jobless tally mounts Oct 8, 2009
The main policy prescription of the Obama administration can be summed up as follows: record fiscal deficits would boost spending, and through the multiplier, real GDP would rise, and full employment automatically re-established. The main tenet underlying Bernanke's theory is that near-zero interest rates and ample liquidity would push credit to high levels, boost consumer spending and real GDP, and restore full employment. (Asia Times Online)
Boost tax credit to keep up housing momentum Oct 6, 2009
Mark Zandi, chief economist of Moody s , calculated that extending and expanding the tax credit to $15,000 for all homebuyers would increase home sales by 600,000 units next year, generating $33 billion in additional real GDP growth. A study released by economist Kenneth Rosen shows that the current tax credit is reducing home inventories by almost 30 percent and stabilizing home prices. (Boston Globe -- Editorial)
Transcript of a press briefing by Masood Ahmed, Director of the IMF Middle East and Central Asia Department Oct 5, 2009
So, even though the decline in real GDP is relatively contained in 2009, it comes in the wake of very modest growth in 2008, and that sets it apart from the other countries where there was still rapid growth in 2008. The second point that is worth stressing is that the transmission mechanisms of the crisis have been more muted in the case of Georgia than there were in some of the other cases. (IMF News)
Continue stimulus packages: IMF Oct 5, 2009
"Real GDP in the second quarter surprised mostly on the upside, with an expansion in France, Germany and Japan and a slower pace of contraction esewhere, including in the United States," IMF director (Asia and Pacific Department) Anoop Singh said at a press conference in Istanbul ahead of Fund-Bank meeting from October six. "Emerging economies, led by China and India, are turning around even more strongly," he said. (India Times)
Press Release: IMF Says European Economic Recovery to be Fragile and Calls for Policy Action to Secure a Solid Rebound Oct 3, 2009
European Countries: Real GDP Growth and CPI Inflation, 2006 10(Percent). Real GDP Growth. (IMF News)
Bulgaria—September 2009 Staff Visit, Concluding Statement Oct 2, 2009
The mission projects that real GDP will decline by 6 percent this year and by 2 percent in 2010. Upside and downside risks to this projection appear broadly balanced. (IMF News)
Dollar falls Oct 1, 2009
In the first quarter, U.S. real GDP decreased 6. 4 percent. (Xinhuanet, China)
Markets aren't spooked by October yet Oct 1, 2009
It was the fourth straight quarter of decline in real GDP, but probably the last quarter of falling output ... It was the fourth straight quarter of decline in real GDP, but probably the last quarter of falling output. (New York Post -- Business)
World eco to grow by 3% in 2010: IMF Oct 1, 2009
The recovery of activity is more clearly evident on a fourth-quarter-over-fourth-quarter basis: from 2009:Q4 to 2010:Q4, real GDP is expected to rise by about 1 ... In emerging economies, with rebound driven by China, India, and a number of other emerging Asian economies, real GDP growth is f 00004000 orecast to reach almost 5 percent in 2010, up from 1. (India Times)
U.S. economy dips at smaller pace in second quarter Oct 1, 2009
In the first quarter, real GDP decreased 6 ... In the second estimate, the decrease in real GDP was 1 ... The report said that the drop in real GDP in the second quarter primarily reflected negative contributions from private inventory investment, nonresidential fixed investment, residential fixed investment, personal consumption expenditures, and exports that were partly offset by positive contributions from federal government spending and state and local government spending. (Xinhuanet, China)
US GDP shrinks at a smaller 0.7% rate in Q2 Oct 1, 2009
With the second-quarter contraction, the countrys real GDP has shrunk for four straight quarters for the first time since government records started in 1947. The shallow decline in activity in the second quarter reflected more moderate drops in consumer spending and business investment than previously thought, the report showed. (The Star Online, Malaysia -- Business)
High-level SA delegation visits Al BashirUNAMID in fresh bid to tackle root-causes of Darfur conflictUN worried about increasing LRA attacks in Southern SudanGhana beats Sudan 2-0 in 2010 World Cup qualifier Drought, fighting force 50,000 Somalis to seek refuge in KenyaNigeria seeks change in AMISOM mandateFrance evacuates wounded peacekeepers to NairobiDeath toll in Mogadishu suicide attacks on AMISOM now 21 Belgian organisation protests detention of Congolese woman, her three childrenDR Congo suspends Olympic committee chair for misappropriation3 journalists report death threats in DRCJoseph Kabila assumes chairmanship of SADC Ivorian Prime Minister urges mutinous soldiers to remain calmGbagbo: "Whoever delays Ivorian elections is a criminal"Gbagbo reaffirms his desire for Ivorian peaceGbagbo signs Ivorian amnesty law ON THE WIRE 'Nigeria yet to realise promise of independence'Abuja, Nigeria (PANA) - As Nigeria Thursday marks the 49th anniversary of its independence from Britain, President Umaru Yar'Adua said the country had yet to fully realise the ''promise of independence''. 01/10/2009 Full Text... Oct 1, 2009
Our real GDP growth is projected at 5% in 2009 and non-oil GDP growth i s expected to remain robust at 6. 3. (Panapress.com)
Stocks Finish Lower Oct 1, 2009
7% (annual rate) in real GDP in the second quarter, revised form the 1. 0% decline reported a month ago. (BusinessWeek)
Stronger spending helps GDP shrink at a slower 0.7% rate Oct 1, 2009
It was the fourth straight quarter of decline in real GDP, but probably the last quarter of falling output for the U.S. economy, which slipped into recession in December 2007 ... "Today's revision of real GDP in the second quarter indicates that the economy has begun to stabilize," said Mark Doms, chief economist at the U.S. Commerce Department. (USA Today -- Money)
Running out of road Sep 30, 2009
Combine the two and you can make "real GDP" do pretty much anything you want it to do. Yes, even that. (Asia Times Online)
Bond Traders Are Doubters, Lemmings or Sissies: Caroline Baum Sep 30, 2009
After declines in real GDP for five of the last six quarters, a return to growth would normally create some mild dyspepsia in the bond market, even though inflation, that scourge of fixed-income securities, trails the economic cycle. It would -- unless investors believe third-quarter growth is manufactured. (Bloomberg -- Columnists)
Nashville GDP grows despite recession Sep 26, 2009
3 percent growth in real GDP, more than any other MSA.. Most Read Stories. (Nashville Business Journal, TN)
Editorial: Cold, calculated lies await debate on global warming Sep 26, 2009
But the budget office also predicts that real GDP will be about 2 1/2 times larger in 2050 than it is today, so that GDP per person will rise by about 80 percent. The cost of climate protection would barely make a dent in that growth. (Sacramento Bee -- Opinion)
Feds: Area growth tumbled in 2008 Sep 26, 2009
which have a concentration of natural resources and mining industries, posted real GDP growth of 3. 5 percent and 12. (Columbus Business First, OH)
AfDB Chief Economist Addresses Seminar on "Looking Beyond Financial Crisis" Sep 25, 2009
The continent's overall real GDP growth closely tracks that of natural resource-rich countries. The simple correlation coefficient between the GDP growth rate for natural resource-rich countries and that of Africa was 0. (allAfrica.com)
Press Release: IMF Announces Staff-Level Agreement with El Salvador for a New Stand-by Arrangement of About US$ 800 Million Sep 25, 2009
These shocks have affected domestic demand in El Salvador by more than was anticipated and real GDP is now expected to decline by 2. 5 percent in 2009 and then recover gradually over the coming years. (IMF News)
Experts Talk Stocks, the Economy, and the Fed's Next Move Sep 25, 2009
We therefore continue to expect potential real GDP growth in the neighborhood of 2% per year. Larry Kantor, Barclays CapitalIn our view, the main risk to the current bull market in stocks and corporate bonds is not that the global economic recovery will falter. (BusinessWeek)
Press Release: IMF Announces Staff-Level Agreement with Tajikistan on First Review under PRGF Arrangement Sep 25, 2009
We project real GDP growth to slow sharply from 8 percent in 2008 to only 2 percent in 2009, and households relying on remittances as a main source of income face hard times. With the global economy expected to recover, Tajikistan should also achieve moderately higher growth in 2010 of around 5 percent, but this will not be enough to reverse the 2009 decline in real per capita disposable incomes. (IMF News)
