David Kirkpatrick

July 8, 2010

International Monetary Fund sees better than expected 2010 growth

Filed under: Business — Tags: , , , , , — David Kirkpatrick @ 6:18 pm

Somewhat encouraging news, but the reality on the ground is still very grim and I’m guessing will get worse before it improves.

From the link:

The International Monetary Fund raised its forecast for global growth this year, reflecting a stronger-than-expected first half, while warning that financial- market turmoil has increased the risks to the recovery.

The world economy will expand 4.6 percent in 2010, the biggest gain since 2007, compared with an April projection of 4.2 percent, the Washington-based fund said in revisions yesterday to its World Economic Outlook. Growth next year is projected to be 4.3 percent, unchanged from the April forecast.

Canada and the U.S. are leading advanced economies out of the worst recession since World War II, trailed by euro-area countries that need additional measures to boost confidence in their banks, the fund said. Faster expansions in Brazil, China and India are helping to protect the global recovery as a sovereign-debt crisis weighs on Europe, the IMF said.

“The overarching policy challenge is to restore financial- market confidence without choking the recovery,” the IMF report said. “The new forecasts hinge on implementation of policies to rebuild confidence and stability, particularly in the euro area.”

March 1, 2010

The state of the recession

Filed under: Business — Tags: , , , — David Kirkpatrick @ 3:53 pm

So-so at best. By all, or a least most, accounts the national recession is over and recovery, however slow, is going on right now. Break that national figure down a bit and the picture changes dramatically. Two-thirds of all states are still in a recession. That’s a lot of people who just get frustrated and angry when told things have hit bottom and are now getting better. For a lot of Americans things are not getting any better just yet. And Nevada is alone as the the state with a still-shrinking economy.

From the link:

The national recession may be over, but not everyone feels the change. Some industries and regions continue to suffer. The tepid 3% pace of growth in this recovery means no rising tide lifting all boats.

And here’s a handy chart outlining who’s still feeling the pain:

January 22, 2010

A tiny ray of economic hope

Filed under: Business — Tags: , , , , — David Kirkpatrick @ 5:02 pm

It’s not much, but anything ought to feel pretty good right now. Especially with unemployment still dogging the economy.

From the link (bold text is my emphasis):

The number of newly-laid off workers seeking jobless benefits unexpectedly rose last week, as the economy recovers at a slow and uneven pace, but a forecast of future economic activity jumped 1.1% in December, suggesting that economic growth could pick up this spring.

Layoffs have slowed and the economy began to grow in last year’s third quarter, but companies are reluctant to hire new workers. The unemployment rate is 10% and many economists expect it to increase in the coming months.

Here’s more detail on the good news portion of the link:

Separately, the 1.1% increase in the Conference Board’s index of leading economic indicators was larger than the 0.7% rise that economists surveyed by Thomson Reuters had expected.