Word: gdp
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...Administration's assumptions about the rate of the recovery were probably finalized several weeks ago. It would have been impossible to balance the Budget without them. At the point when those forecasts were set, GDP contraction for the fourth quarter of last year had not been revised to 6.2%. GM (GM) had not posted its huge loss. GE (GE) had not cut its dividend. And, Citigroup (C) had not been partially taken over by the government. Some analysts might say that those were unrelated activities made by large companies in unrelated industries. However, these firms were, until recently, the largest...
Beginning around 2005, Colombian traffickers began arriving in Guinea Bissau, smuggling in cocaine worth about 10 times the country's annual GDP, according to U.N. officials. The cartels found ideal terrain for their massive trafficking operations. The dirt-poor country has few natural resources and only 1.6 million people. And there are dozens of remote tropical islands, with about 24 airfields built during colonial days. There the traffickers flew small aircraft, dropping hundreds of pounds of cocaine almost weekly direct from Colombia. According to European Union drug reports, the cocaine was then smuggled in small quantities into Europe. The government...
...tomorrow, all signs are that this will stack up as the worst economic downturn in the U.S. since the Great Depression. But if government spending is able to begin stabilizing the economy sometime in the second half of this year, the scale of the decline in indicators ranging from GDP to employment to consumer spending will be much closer to that of the harsh recessions of 1981-82 and 1974-75 than the nearly complete economic collapse of the 1930s. Will the stimulus work? That's the $770 billion question the new GDP numbers really don't answer...
...preceding months. Most important, Chinese banks doled out nearly $240 billion of new loans in January - a one-month record. Some economists have taken these data as evidence that China's economy has already bottomed out. Merrill Lynch economists Ting Lu and T.J. Bond reaffirmed their bullish 8% GDP-growth estimate for 2009 in a February report, arguing that the turnaround could begin in the second quarter. "China looks set to be the first major economy to recover from the current global meltdown," they proclaimed...
...loans could lead to reduced lending in coming months. "Given the sharpness and severity of the recent slowdown, the recovery path is likely to be volatile as well," wrote Goldman Sachs economists Helen Qiao and Yu Song in a recent report. They're holding to their below-consensus 6% GDP-growth forecast...