Category: Economic News
The macro economy has a large impact on your personal finances. To help you manage your money better we track the import economic trends. Stay up to date so you can be prepared to adjust your personal finance strategies.
Economic News
Economic News
JP Morgan Economists Lower Q2 2019 GDP Estimate to 1% Growth
The last time the Bureau of Economic Analysis announced the United States' quarterly gross domestic product growth, analysts were surprised to learn actual growth was 3.2% — far higher than the 2.5% rate that many expected. However economists at JP Morgan aren't expecting a repeat performance for Q2. In fact they're slashing their estimates by more than half. As CNBC reports, JP Morgan economists had previously stated they were expecting...
Economic News
U.S.-China Trade War Escalates, Stocks Fall
Just a couple of weeks ago it seemed that the United States and China were on their way to reaching a trade deal. This hope even played a role in helping the S&P 500 and Nasdaq indices reach record highs. Unfortunately, late last week, President Trump announced that tariffs on Chinese goods would increase from 10% to 25%. With China now retaliating, the markets are currently shedding some of the...
Economic News
United States Unemployment Falls to 49-Year Low
Another week, another better-than-expected economic report. Today the United States Labor Department issued its latest jobs report showing that the economy added 263,000 jobs in the month of April. Not only does that top the 213,000 jobs MarketWatch's poll of economists had anticipated but also helped bring the unemployment rate down to a level not seen in nearly 50 years. With the added jobs, U.S. unemployment fell two-tenths of a...
Economic News
United States' Q1 GDP Growth Exceeds Expectations
Following a relatively weak fourth quarter that brought down the United States' 2018 average gross domestic product growth to just below 3%, the economy managed to to exceed expectations and roar back in the first quarter of 2019. According to CNBC, a poll of economists estimated the quarter's GDP growth to be 2.5%. Instead the Bureau of Economic Analysis' report released on Friday showed growth of 3.2% — marking the first...
Economic News
S&P 500, Nasdaq Reach Record Closing Highs on Tuesday
Ever since U.S. markets took a tumble on Christmas Eve of last year, much has been made about an impending turnaround. Earlier this week those fears seemed far out of mind as the S&P 500 and the Nasdaq both closed at record highs. As for the Dow Jones Industrial Average, it wasn't far behind either. CNBC reports that the S&P closed 2,933.68 on Tuesday, besting the previous 2,930.75 seen in...
Economic News
Home Mortgage Applications Reached a Nine-Year High Last Week
Despite some parts of the country seeing snow this past week, make no mistake that it is officially spring. That means that, in addition to blooming trees and allergies, it's time for home sales to pick back up after the slower winter season. On that note it seems that the homebuying bug is already biting as mortgage applications to purchase recently rose to a nine-year high. As CNBC reports, mortgage...
Economic News
