Tag Archives: US Economy

Oil prices stabilized on Wednesday, December 22, as traders awaited indicators of fuel demand amid fears related to Covid-19 after Singapore suspended travel without quarantine, and Australia renewed its vaccination campaign as cases of the mutant Omicron of the Coronavirus rose. Brent crude futures rose eight cents, or 0.1%, to …

The US current account deficit widened to $214.8 billion in the third quarter of this year, while it was expected to record $205 billion, marking its highest level since the third quarter of 2006, according to the US Department of Commerce. The data showed a deficit of $198.3 billion in …

According to the US Bureau of Economic Analysis (BEA)’s final GDP estimate, the US economy grew at an annualized QoQ pace of 2.3% in Q3 2021, above the prior estimate for a growth rate of 2.1%. to be updated …

The pandemic remained a major force influencing growth in the US economy in 2021. But as vaccinations picked up and stay-at-home orders began to be lifted, the economy took considerable steps to recove throughout the year.Despite being behind pre-pandemic levels on many major metrics, on other metrics, and notably on …

Oil prices rose today, Tuesday, despite the continued concern of investors about the rapid spread of the Omicron virus globally, which prompted countries to consider more restrictions that are likely to affect the demand for fuel. Brent crude futures rose by $1, or 1.45%, to record in contracts for February …

Oil prices slumped on Monday as surging cases of the Omicron coronavirus variant in Europe and the United States stoked investor worries that new restrictions to combat its spread could dent fuel demand.Brent crude futures fell $2, or 2.7%, to settle at $71.52 a barrel, while US WTI crude futures …

The US Congress, Monday, approved legislation to raise the debt ceiling by $2.5 trillion, in a move that is described as preemptive to any threat of a federal default until at least 2023. The federal government has never defaulted on debt payments.One Republican and all Democrats in the House voted …

The US Dollar Index, DXY, drops by 0.33%, settling at 96.48 during the day as the New York session. The market sentiment is relaxed, with major US shares falling between 1.51% and 2.86%.Factors like US President Biden’s failure to get his $2 trillion BBB project backed by Democrat Senator Joe …

The US economy is expected to slow in 2022 in comparison to 2021, but economic growth will continue at a pace that is above average. Consumers have powered the economic recovery since mid-2020 and that will continue in the coming year.Consumer spending is expected to rise another 4% to 5% …

The Federal Reserve raising interest rates next year would signal the central bank feels good about the country’s economic recovery, New York Fed President John Williams said Friday.“I go into next year feeling [like] the baseline outlook is a very good one. Therefore, actually raising interest rates would be a …