Lots of Data Out but Dollar Marking Time Ahead of FOMC Announcement

July 31, 2019

The dollar is unchanged against the euro, Swiss franc, yen, loonie and yuan, 0.2% softer relative to the peso and Australian dollar, 0.1% lower versus sterling and 0.2% higher against the kiwi. Analysts expect a 25-basis point federal funds cut to be announced at 18:00 GMT, and Chairman Powell will begin his press conference at […] More

North American GDP Contracted Last Quarter

May 29, 2015

U.S. and Canadian real GDP declined at similar annualized rates of 0.7% and 0.6% in the first quarter.  Those were the first contractions in four quarters in the U.S. instance and in 19 quarters in Canada’s case.  U.S. nominal GDP fell 0.9%, and the personal consumption price deflator registered an on-year uptick of only 0.3%, […] More

Early Returns on Third-Quarter Growth Paint the United States in a Trailing Position

November 15, 2010

Preliminary estimates for GDP growth last quarter have now been released in the United States, Japan, the euro area, Britain and China.  The results explain why the Federal Reserve has already decided to do at least another $600 billion of quantitative easing in contrast to the lack of such a decision by the ECB or […] More

North American GDP and Unemployment

September 30, 2010

Canada and the United States released subdued GDP figures today. Canadian July GDP slipped 0.1%.  Although negative growth in July had been expected, this was the first decline in eleven months, and weakness was pervasive.  Manufacturing and construction respectively contracted by 0.7% and 0.5%.  Energy, utilities, retail and wholesale turnover fell by 0.6%, 0.4%, 0.5% […] More

Expected Long-Term Economic Growth in Selected Advanced Economies

March 8, 2010

This is the time of year when forecasters first wheel out projections for the next calendar year.  Since over nine months remain before the period begins and more than 21 months remain before it ends, the forecasts are good proxies for estimates of long-term trend growth.  One sense of consensus forecasts is published each month […] More