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Business

“FedEx to cut daytime domestic flight activity by 60%”

“…The parcel logistics giant will reduce daytime domestic flying time by 60% and the number of city destinations by 55%, which will add about 500 pilots to the existing surplus, said Justin Brownlee, senior vice president for flight operations and… Continue Reading…

Economy

“Retail sales rose sharply in the first quarter — and could boost U.S. GDP”

“The numbers: Sales at retailers rose a robust 0.7% in March and outlays in the prior month were also stronger than previously reported, indicating the economy got a boost from consumer spending in the first quarter. Economists polled by The… Continue Reading…

Economy

“Britain falls into recession, with worst GDP performance in 2023 in years”

“…Gross domestic product fell 0.3% in the final three months of 2023, following a 0.1% contraction in the July-to-September period, the Office for National Statistics said. A recession is commonly defined as two consecutive quarters of contraction…” https://www.cnn.com/2024/02/15/economy/britain-falls-into-recession/index.html

Economy

“U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected”

“…Gross domestic product, a measure of all goods and services produced in the U.S., rose at a 4.9% annualized pace in the July-through-September period, up from an unrevised 2.1% pace in the second quarter, the Commerce Department reported Thursday.. Economists surveyed by… Continue Reading…

Economy

“China’s Debt-to-GDP Ratio Rises to Record 279.7% on Credit Boom”

“…The macro leverage ratio — or total debt as a percentage of gross domestic product — soared to 279.7% in the first quarter, according to central bank and statistics bureau data compiled by Bloomberg. That was an increase of 7.7… Continue Reading…

Stocks

“U.S. GDP fell at a 1.4% pace to start the year as pandemic recovery takes a hit”

“Gross domestic product unexpectedly declined at a 1.4% annualized pace in the first quarter, marking an abrupt reversal for an economy coming off its best performance since 1984, the Commerce Department reported Thursday. The negative growth rate missed even the… Continue Reading…

Economy

“GDP grew at a 6.9% pace to close out 2021, stronger than expected…”

“The U.S. economy grew at a much better than expected pace to end 2021 from sizeable boosts in inventories and consumer spending and despite signs that though the acceleration likely tailed off towards the end of the year. Gross domestic… Continue Reading…

Economy

“Q3 GDP: US economic activity rose at a record 33.1% annualized pace after pandemic-induced slump”

“The Bureau of Economic Analysis released its advance print on third-quarter gross domestic product (GDP) at 8:30 a.m. ET on Thursday. Here were the main metrics from the report, compared to consensus estimates compiled by Bloomberg: 3Q GDP, annualized quarter-over-quarter: 33.1%… Continue Reading…

Economy

“Second-quarter GDP plunged by worst-ever 32.9% amid virus-induced shutdown”

“The U.S. economy saw the biggest quarterly plunge in activity ever, though the plummet in the second quarter wasn’t as bad as feared. Gross domestic product from April to June plunged 32.9% on an annualized basis, according to the Commerce… Continue Reading…

Economy

“US GDP shrank 4.8% in the first quarter amid biggest contraction since the financial crisis”

“Gross domestic product fell 4.8% in the first quarter, according to government numbers released Wednesday that provide the first detailed glimpse into the deep damage the coronavirus wreaked on the U.S. economy. Economist surveyed by Dow Jones had expected the… Continue Reading…