u s economy
Low US Weekly Jobless Claims, Solid Consumer Spending Showcase Economy’s Strength
October 31, 2024
By Lucia Mutikani WASHINGTON (Reuters) -The number of Americans filing new applications for unemployment benefits fell to a five-month low last week and consumer spending increased more than expected in September, showcasing the economy's strength heading into the final stretch of 2024 and just days before next Tuesday's presidential election. Though prices pushed higher last month, inflation is firmly on a downward trend, with other data on Thursday showing labor costs posting their smallest gain in more than three years in the third quarter. The data likely keeps the Federal Reserve on track to cut interest rates next week and possibl...
GlobalData Pares Back US Economy Growth to 0.3% in 2023
GlobalData | February 14, 2023
High inflation levels far above the Fed Reserve’s target of 2% and the consequent tightening of monetary policy, which has been hiked eight times from January 2022 to February 2023, will continue to dampen household spending and investments in the US, which will negatively impact the economic growth prospects. As a result, the real GDP growth of the US is set to slow down from 2.1% in 2022 to 0.3% in 2023, forecasts GlobalData, a leading data and analytics company. GlobalData’s latest report, “Macroeconomic Outlook Report: United States,” reveals that the real household consumption expenditure increased by 2.4% in 2022 and is forec...
International Visitors Inject $20.8 Billion Into the U.S. Economy in August 2016
International Trade Administration | October 17, 2016
WASHINGTON - Acting Under Secretary of Commerce for International Trade Ken Hyatt today announced that international visitors spent nearly $21 billion on travel to, and tourism-related activities within, the United States in August, an increase of $251 million, when compared to August 2015. "The travel and tourism industry is tremendously important to the national economy," Hyatt said. "It keeps Americans employed and local economies flourishing. Today's data show that international visitors spent nearly $672 million a day experiencing the United States, solidifying the travel and tourism industry as the number one service export in the...
International Visitors Inject $21.0 Billion (-0.1%) into U.S. Economy in May 2016
The National Travel and Tourism Office (NTTO) | July 7, 2016
WASHINGTON - Acting U.S. Under Secretary of Commerce for International Trade Ken Hyatt today announced that international visitors spent $21.0 billion on travel to, and tourism-related activities within, the United States in May, a slight decrease (-0.1%) when compared to May 2015. This slight downturn is mostly attributable to a decline in passenger fares paid to U.S. carriers by international visitors, which decreased nearly 9 percent in May. "International visitors spent nearly $665 million a day experiencing the United States in May," Hyatt said, "positioning travel and tourism as America's leading services export...
