Fourth Quarter 2012 GDP at 0.1 Percent, Lowest In 3 Years: Jobs data tomorrow could confirm weakness. Remember all that wrangling about what would happen to the U.S. economy if Republicans and Democrats continued to squabble over the fiscal cliff? Well… it happened. The U.S. economy grew at the worst pace in three years in…
Mastercard SpendingPulse Report 2012 Lower Than Expected On Fiscal Cliff Fears: Retail stocks took a hit today as MasterCard released data showing the 2012 holiday season has been lackluster in terms of consumer spending. Even with unemployment improving from 8.5 percent in December of 2011 to 7.7 percent last month, consumers aren’t spending. This follows…
November 2012 Housing Data and 3rd Quarter GDP Upward Revision To 3.1 Percent Help Lift Stocks: The economy is growing faster than previously anticipated but this could become a problem if the fiscal cliff isn’t solved soon. The Commerce Department said Thursday that gross domestic product increased at an annual rate of 3.1% in the third…
Initial Jobless Claims For Week Of December 1, 2012 Stronger Than Expected – The Economy Vs. The Fiscal Cliff: U.S. initial jobless claims decreased by more than expected for the week ended December 1. The Labor Department said today, jobless claims fell by 25,000 to 370,000. Most economists were expecting jobless claims between 380,000 and…
US Third Quarter GDP Rises To 2.7 Percent But Fiscal Cliff Woes Continue: U.S. GDP rose to 2.7 percent in the third quarter according to the U.S. Department of Labor. GDP was revised from the first estimate but much of the increase was due to private inventories and government spending. The headline number did have a…
