California GDP growth over the last four quarters averaged 1.7%, a middling 21st among the states
California’s economy grew at a 1.2% annual pace in the first quarter. That GDP expansion rate looks lethargic compared with the 2% US expansion pace.
Slowest states? Alabama and Rhode Island with only 0.1% growth, then Arkansas, Illinois and West Virginia at 0.2%. Start with California. Its GDP growth over the last four quarters averaged 1.7%, a middling 21st among the states and just below 1.8% growth nationally. There was a hefty 3.8% US increase. And look at the top economic momentum among the states: Nevada was expanding by 8.1%, Florida by 7.1%, New Hampshire by 6.1%, Idaho by 6%, and New York by 5.8%.Let’s measure the Fed freeze by thinking about the percentage-point differences between annual growth rates during these last 24 months.
Dragging down California’s GDP growth in the past year were rate-sensitive industries like real estate and construction. Adding to the chilled output was sluggish office work, hotels, restaurants and manufacturing. The Golden State’s bright spots, by GDP math, were retail and healthcare.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
China property crisis deepens: Evergrande's $81B loss is triple Iceland GDPEvergrande's whopping $81 billion loss is almost triple Iceland's GDP - it's a reflection of China's deepening property crisis.
Leer más »
Japanese government cuts FY2023-24 GDP forecast to 1.3% vs. 1.5% previousIn a mid-year review of its forecasts published on Thursday, the Japanese government cut economic growth forecast for the current fiscal year to 1.3%
Leer más »
Column: A 'soft landing,' and is Powell the most successful Fed chief ever?: McGeeverNot bad for a 'clueless' Fed chair.
Leer más »
Fed lawsuit asks judge to force Hunter Biden registration as foreign agentA new federal lawsuit filed Tuesday against the Justice Department is seeking to force first son Hunter Biden to register as a foreign agent.
Leer más »
Fed's last rate hike coming at July meeting, economists sayThe U.S. Federal Reserve will raise its benchmark overnight interest rate by 25 basis points to the 5.25%-5.50% range on July 26, according to all 106 economists polled by Reuters, with a majority still saying that will be the last increase of the current tightening cycle.
Leer más »
EUR/USD extends pullback from 1.1280 resistance as ECB vs. Fed divergence appears diceyEUR/USD stays on the back foot around 1.1220 heading into Wednesday’s European session, extending the previous day’s retreat from the highest level si
Leer más »