Articles About GDP

Guess which state’s economy grew at a significantly faster pace than the nation’s measly 2.9 percent?  According to a report from the Department of Commerce, it’s North Dakota, whose economy expanded a robust 7.1 percent in 2010.The key driver behind both North Dakota’s success is drilling for oil.  Historically, North Dakota’s mining sector — which includes […]

American households’ net worth moved up a bit as the year began, with rising stock prices, increased savings and debt reductions outpacing an ongoing decline in real-estate prices.  According to the Federal Reserve, average household wealth in stocks, bonds, homes and other assets — minus mortgages and other debts — rose 1.2 percent to $58.1 trillion […]

Sluggish job growth in May could be a sign that the economic recovery is losing momentum.According to the ADP May Employment Report, a mere 38,000 jobs were added in the private sector on a seasonally adjusted basis.  That was well below consensus estimates of 170,000 new jobs.  The report also revised downwards the estimated change […]

Portugal has become the third European nation to accept a financial bailout to the tune of € 78 billion, with € 12 billion going directly to the Iberian nation’s banks.  It is the third of four PIGS nations (Portugal, Ireland, Greece, Spain) to require a bailout.  Caretaker Prime Minister Jose Socrates announced that he had […]

The Federal Reserve’s second round of stress tests requires the 19 largest U.S. banks to examine their capital levels against a worst-possible-case scenario of another recession with the unemployment rate hovering above 8.9 percent. The banks were instructed to test how their loans, securities, earnings, and capital performed when compared with at least three possible […]

The Basel Committee on Banking Supervision overhaul of bank capital rules may cut global economic growth by 0.22 percent, which is seen as a reasonable amount.  This will occur over an eight-year transitional period during which the rules are put into place, according to the Basel committee and Financial Stability Board (FSB).  According to the […]

Who’s right about the state of the economy and commercial real estate – the bulls or the bears?  Robert Knakal, chairman of New York-based Massey Knakal Realty Services, weighs both sides to help us cut through the mixed messages. In a recent interview for the Alter NOW Podcasts, Knakal noted that the bulls like to […]

he nation’s financial system needs significantly more regulation than exists now.  The lack of tough regulatory powers strongly impacted the recent financial crash and the Great Recession that ensued.  The good news is that the Obama administration is moving firmly in this direction with financial reform legislation a critical item on its agenda.  This is […]

Spain’s extraordinary win in the 2010 World Cup means the country now joins a rarefied group of soccer royalty – Brazil, Germany, Argentina, Italy and France – as one of the handful of countries to win the game’s highest honor.  The defining features of the Spanish team were their midfield dominance — Iniesta, Xavi, Fabregas  […]

As George Harrison said in his 1989 song, “Cheer down.”  In a move that surprised many economists, GDP growth for the 1st quarter of 2010 has been revised slightly downward – from 3.2 percent to three percent – according to the Bureau of Economic Analysis.  Even with the downward revision, the 1st quarter was the […]