Word: grossing
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...data will show an economy that has lost a lot of steam in September in relation to August," says Joe LaVorgna, chief U.S. economist at Deutsche Bank. "It remains to be seen how bad October will be, but we could really see a bad quarter in terms of Gross Domestic Product performance where we are down at least a couple of percentage points...
Retail purchases fuel half of American consumer spending, which stimulates the country's economic growth. In the past, consumer spending has comprised as much as two-thirds of the gross national product. "Retail sales is the most important number because it doesn't gauge reactions, but gauges what consumers are doing and it's a good indicator of actual spending," says Michael Englund, chief economist for Action Economics, a bond and currency market consulting firm. "The good news for households is that food and energy prices are falling, although some might see this as a weakness in demand...
...Harvard’s coffers. In May, the university announced a massive fundraising campaign to add $2.18 billion to its accounts. According to the Times Higher Education publication, spending on university in the United Kingdom is less than half of that in the United States, as a proportion of gross domestic product...
...soon to say exactly how much giving will be down, but past experience suggests that a recession will hit charities hard. In a report released last month, the Giving USA Foundation found that on average during recessions (defined as two quarters of consecutive decline in the gross domestic product, which hasn't yet happened), charitable giving declines 1%. That might not sound too bad, but keep in mind that during nonrecessionary years, charitable giving in the U.S. has increased 4.3% - which means a recession represents a more than 5% swing in the other direction. And it's gotten even worse...
...around St. Paul's Cathedral that is the heart of the old financial district, and the gleaming towers of the new financial district in the docklands area - a powerful motor not just for London but for British prosperity. In 2007, financial services accounted for 10.1% of the U.K.'s gross domestic product, up from 5.5% in 2001. Add in professional services linked to finance, such as accounting, law and management consultancy, and the total rises to 14%. And that's for Britain as a whole. For London, finance has been even more important: It now accounts for almost one-fifth...