The preliminary projection of 11.8 percent for GDP growth in the second quarter of 2021 has been revised upward to 12.0 percent. The growth rates in Education, which increased from 10.0 percent to 12.6 percent; Financial and insurance operations, which increased from 4.2 percent to 5.2 percent; and Construction, which increased from 25.7 percent to […]
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Following a 2.3 percent gain in the third quarter, real gross domestic product (GDP) expanded at a 6.9% annual rate in the fourth quarter of 2021. The rise was lowered down 0.1 percentage point from the February “second” estimate. Inventory investment, upturns in exports and residential fixed investment, and an acceleration in consumer spending all
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The rate of change in the prices of anything from a bar of Ivory soap to the cost of an eye exam is characterized as inflation. In the United States, the consumer price index (CPI) is the most often used measure of inflation. Simply explained, the index measures the average cost of a basket of
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The US economy will have a recession, but not until 2022. More business cycles will result as a result of Federal Reserve policy, which many enterprises are unprepared for. The decline isn’t expected until 2022, but it might happen as soon as 2023. If the Fed manages to prevent a recession in 2023, expect a
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According to a study released by the Labor Department on Friday, worker compensation climbed by almost 4% in a year, the quickest rate in two decades. As a result, there has been widespread concern that the United States is on the verge of a major crisis “The “wage-price spiral” occurs when higher wages push up
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In the 1970s, there were two economic recessions, one dominating the years 19741975 and the other dominating the years 19791982. They are linked by the fact that they were all triggered by rises in oil export prices enforced by the Organization of Petroleum Exporting Countries (OPEC) (OPEC). OPEC quadrupled the price of oil exports in
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In the United States, C + I + G + (Ex – Im) equals nearly $10 trillion. That means the US produces more than $10 trillion in products and services each year within its boundaries. Consumer spending, often known as consuming or consumption expenditure by economists, accounts for the vast majority of GDP in the
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Inflation isn’t going away anytime soon. In fact, prices are rising faster than they have been since the early 1980s. According to the most current Consumer Price Index (CPI) report, prices increased 7.9% in February compared to the previous year. Since January 1982, this is the largest annualized increase in CPI inflation. Even when volatile
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The Federal Reserve has not set a formal inflation target, but policymakers usually consider that a rate of roughly 2% or somewhat less is acceptable. Participants in the Federal Open Market Committee (FOMC), which includes members of the Board of Governors and presidents of Federal Reserve Banks, make projections for how prices of goods and
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A recession is a macroeconomic phrase that denotes a considerable drop in overall economic activity in a specific area. It was previously defined as two consecutive quarters of economic contraction, as measured by GDP and monthly indicators such as an increase in unemployment. The National Bureau of Economic Research (NBER), which officially declares recessions, claims
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